Hong Kong (CNN Business)China’s beaten down stock market could be headed for a rebound. The benchmark Shanghai Composite was the world’s worst performing major stock market last year, tumbling more than 25%. It was weighed down by fears about China’s slowing economy and the trade war with the United States. But 2019 could be much better. Analysts at HSBC (HBCYF) forecast Chinese stocks could rise a further 18% this year after already gaining 5% in January. A resurgent stock market could help improve the gloomy mood among Chinese consumers, whose reluctance to spend has hurt top global brands like Apple (AAPL). Much depends on the United States: A deal to ease trade tensions would boost Chinese share prices, and so could a lull in rate hikes by the Federal Reserve. Who’s hurting (and who isn’t yet) from China’s economic slowdown Chinese stocks would hold strong appeal “in a world where they agree a trade deal,” said Christopher Wood, an equity strategist at Hong Kong-based broker CLSA. Read More He predicts the two governments will reach some kind of agreement by early March to prevent a return to their bruising trade war. “If China is smart, they will do a deal… Read full this story
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