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Morgan Stanley cuts price target for MSCI China
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Morgan Stanley on Friday cut its price target for MSCI China, a week after it lowered its economic growth forecast for China this year in the wake of disappointing data from the world's second-biggest economy.
Morgan Stanley said its June 2024 target for MSCI China was now 60, down from 70.
MSCI China closed at 59.072 on Thursday and is down about 8% this year.
The brokerage said it expects the pattern of substantial earnings misses versus consensus to continue in the current deflationary macro-economic environment.
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