© Reuters. FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid/File Photo
LONDON (Reuters) – The world’s largest asset manager BlackRock (NYSE:BLK) has said it is dipping its toes back into Chinese equity markets following their heavy falls this year and on bets that Beijing will soon start providing stimulus again.
“We are dipping a toe in Chinese equities by moving our tactical view from neutral at midyear to a modest overweight,” BlackRock’s ‘Investment Institute’ strategists said in a weekly note first published on Monday.
“This call is partly rooted in our expectation for incremental near-term easing via three policy levers – monetary, fiscal and regulatory – with growth slowdown likely having reached a level that policy makers cannot ignore.”
The firm also said it was shifting its tactical stance on emerging market local-currency debt to “modest overweight”.
Source: Investing.com
