BlackRock is the world’s largest asset manager, has circa US$10 tn in assets under management.
In a report issued Monday it (in brief) it highlighted two key concerns it has over China:
- Said risks are rising for China over its ties to Russia during the Ukraine war
- COVID-19 related lockdowns further threaten to slow economic activity in China
Thus Blackrock cut its view on Chinese equities to neutral, from previously overweight.
Weekly candles for the Shanghai Composite. Far be it from me to question the undoubtedly smart peeps at BlackRock … but still ….