Published on 16 May 2022 on Insider Monkey via Yahoo Finance
BlackRock’s Latest Report on China and 10 Stocks to Watch
In this article, we discuss BlackRock's latest report on China and the 10 stocks to watch. If you want to skip our detailed analysis of BlackRock's Chinese stock picks and market outlook, go directly to BlackRock's Latest Report on China and 5 Stocks to Watch.
New York-based BlackRock is the world's largest asset manager, with more than $10 trillion in assets under management as of the first quarter of 2022. Founded in 1988, the money-manager now boasts a global footprint, with 70 offices in 30 countries which serve clients in around 100 countries. As a mammoth in its respective field, it's only natural that Wall Street takes notice when BlackRock shares its analysis on a particular situation.
With a solid history of investing in Chinese stocks, BlackRock has now turned bearish on the world's second largest economy. The asset manager cited growing geopolitical concerns, amidst China's close ties to Russia, as well as a deteriorating macroeconomic outlook, as the reason for trimming its outlook from 'Slightly Overweight' to 'Neutral'. Jean Boivin, head of the BlackRock Investment Institute, told clients in a weekly note: