Chinese Equities Head Toward Slow Bull Market, GS Says -- Market Talk

Dow Jones

昨天

0416 GMT - Chinese equities might be heading toward a slow bull market after positive returns in 2024 and 2025, Goldman Sachs analysts say in a research note. Returns for both A and H shares so far have exceeded GS's previous forecasts. GS expects the bull run to continue, albeit at a slower pace, adding that Chinese stocks could rise 38% by the end of 2027. China's better-than-expected GDP growth has likely outweighed Beijing's lukewarm policy response for equity prices, as reflected by the outperformance of listed exporters over consumption equities, they note. China's tech stocks, which have rallied since the DeepSeek breakthrough, still look inexpensive compared with their American peers, GS notes, considering China's potential upside in capex spend and its focus on AI monetization with adoption across industries. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

December 21, 2025 23:16 ET (04:16 GMT)

應版權方要求，你需要登入查看該內容

登入 / 註冊

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎證券,老虎證券開戶,老虎券商,老虎證券官網,老虎證券app,tigertrade老虎證券,股票,炒股,新加坡股票交易平臺,投資,投資理財","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/2593103281"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2593103281\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2593103281?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-22 12:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2593103281","market":"nz","top_or_hot":-1,"title":"Chinese Equities Head Toward Slow Bull Market, GS Says -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0416 GMT - Chinese equities might be heading toward a slow bull market after positive returns in 2024 and 2025, Goldman Sachs analysts say in a research note. Returns for both A and H shares so far have exceeded GS's previous forecasts. GS expects the bull run to continue, albeit at a slower pace, adding that Chinese stocks could rise 38% by the end of 2027. China's better-than-expected GDP growth has likely outweighed Beijing's lukewarm policy response for equity prices, as reflected by the outperformance of listed exporters over consumption equities, they note. China's tech stocks, which have rallied since the DeepSeek breakthrough, still look inexpensive compared with their American peers, GS notes, considering China's potential upside in capex spend and its focus on AI monetization with adoption across industries. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 21, 2025 23:16 ET (04:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Equities Head Toward Slow Bull Market, GS Says -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Equities Head Toward Slow Bull Market, GS Says -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-12-22 12:16</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0416 GMT - Chinese equities might be heading toward a slow bull market after positive returns in 2024 and 2025, Goldman Sachs analysts say in a research note. Returns for both A and H shares so far have exceeded GS's previous forecasts. GS expects the bull run to continue, albeit at a slower pace, adding that Chinese stocks could rise 38% by the end of 2027. China's better-than-expected GDP growth has likely outweighed Beijing's lukewarm policy response for equity prices, as reflected by the outperformance of listed exporters over consumption equities, they note. China's tech stocks, which have rallied since the DeepSeek breakthrough, still look inexpensive compared with their American peers, GS notes, considering China's potential upside in capex spend and its focus on AI monetization with adoption across industries. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 21, 2025 23:16 ET (04:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BSNM7G36.USD","symbol_name":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2593103281","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2593103281","pubTimestamp":1766376960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0416 GMT - Chinese equities might be heading toward a slow bull market after positive returns in 2024 and 2025, Goldman Sachs analysts say in a research note. Returns for both A and H shares so far have exceeded GS's previous forecasts. GS expects the bull run to continue, albeit at a slower pace, adding that Chinese stocks could rise 38% by the end of 2027. China's better-than-expected GDP growth has likely outweighed Beijing's lukewarm policy response for equity prices, as reflected by the outperformance of listed exporters over consumption equities, they note. China's tech stocks, which have rallied since the DeepSeek breakthrough, still look inexpensive compared with their American peers, GS notes, considering China's potential upside in capex spend and its focus on AI monetization with adoption across industries. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4504":"桥水持仓","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","BK4588":"碎股","LU0251142724.SGD":"Fidelity America A-SGD","BK4550":"红杉资本持仓","BK4552":"Archegos爆仓风波概念","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK6520":"工商业服务概念","43A.SI":"伟盛有限公司","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","BK4585":"ETF&股票定投概念","LU0106831901.USD":"贝莱德世界金融基金A2","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","BK4127":"投资银行业与经纪业","BK4533":"AQR资本管理(全球第二大对冲基金)","BK6000":"餐馆","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","BK4516":"特朗普概念","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC"},"translate_title":"GS称中国股市将走向缓慢牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"43A.SI":1.5},"content_text":"0416 GMT - Chinese equities might be heading toward a slow bull market after positive returns in 2024 and 2025, Goldman Sachs analysts say in a research note. Returns for both A and H shares so far have exceeded GS's previous forecasts. GS expects the bull run to continue, albeit at a slower pace, adding that Chinese stocks could rise 38% by the end of 2027. China's better-than-expected GDP growth has likely outweighed Beijing's lukewarm policy response for equity prices, as reflected by the outperformance of listed exporters over consumption equities, they note. China's tech stocks, which have rallied since the DeepSeek breakthrough, still look inexpensive compared with their American peers, GS notes, considering China's potential upside in capex spend and its focus on AI monetization with adoption across industries. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 21, 2025 23:16 ET (04:16 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}