RCS - Fidelity China Spec - Hardman & Co Research on FCSS
05/09/2022 15:15
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RNS Number : 3148Y Fidelity China Special Situations 05 September 2022
Hardman & Co Research on Fidelity China Special Situations plc:
In this note, we review China's economic outlook and, in particular, we put
the well-publicised COVID-19-related lockdowns into a relative global
perspective. The IMF's July forecast saw China's real GDP forecasts cut by
1.1% in 2022 and 0.5% in 2023. With further lockdowns since, there is risk on
the downside. However, the 2023 GDP cuts were a fifth of those seen in the
US/Euro area, China's 2023 forecast growth is ca.4x their level, and market
ratings are below both. Also, investors should consider what policy responses
may result. As a geared play, with some whole-market exposure, FCSS has
suffered from market sentiment, even though its stock selection has added
value.
Please click on the link below for the full report:
https://hardmanandco.com/research/corporate-research/the-peking-duck-is-not-burning-to-a-crisp/
(https://hardmanandco.com/research/corporate-research/the-peking-duck-is-not-burning-to-a-crisp/)
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