In a new report, Stifel analyst George Askew focuses on Chinese Internet stocks in 2016 and beyond. Fears surrounding economic weakness in China have been one of the key drivers of the early-2016 downturn in global equity markets. Askew warns that investors need to be selective when it comes to China, but believes that concerns over the Chinese economy are overblown.
“We believe that ongoing stimulus measures in China – six interest rate cuts in the past 14 months, currency devaluation, tax cuts for small engine vehicles, etc. – will stabilize the Chinese economy in 2016 around current levels of growth in GDP with potentially stronger growth later in the year as the benefit of stimulus measures season,” he explained.
For now, Stifel urges…
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