A man walks past a brokerage house with a display board showing the Shanghai Composite Index and other stock information, in Beijing, China November 6, 2024. REUTERS
SINGAPORE, Feb 17 (Reuters) – Goldman Sachs raised its target price for Chinese stocks on Monday, estimating that AI adoption could boost earnings growth and potentially bring in $200 billion of inflows.
Chinese tech stocks have been on a strong rally, clocking their best winning streak in over two years last week, boosted by DeepSeek’s AI breakthrough, which reignited investor interest in China’s technology capabilities.
On Monday, Goldman raised its 12-month target price for China’s CSI300 index to 4,700 from 4,600. It also raised its price target for MSCI China to 85 from 75.
The blue-chip index (.CSI300), was last at 3,954.
Reporting by Ankur Banerjee in Singapore; Editing by Tom Hogue
