CICC Says Global Banks Too Bullish on China’s Stock Market as Pimco Buys – Bloomberg

Bloomberg:

CICC’s reduced outlook follows recommendations to boost Chinese stock holdings in the past month from Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM), Macquarie Group Ltd. and HSBC Holdings Plc (HSBA), along with forecasts for further gains of at least 14 percent by Credit Suisse Group AG (CSGN) and Deutsche Bank AG. (DBK) Pacific Investment Management Co., which oversees $1.2 trillion, said this week it has a “large overweight” position in China.

via CICC Says Global Banks Too Bullish on China’s Stock Market as Pimco Buys – Bloomberg.

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