Here’s why Goldman Sachs just flipped bullish on stocks for the rest of the year
Goldman Sachs is leaning more heavily into stocks for the remainder of the year. That’s down to earnings and a market that has overall gotten cheaper.
Goldman Sachs president John Waldron has urged China to implement market reforms to enhance Shanghai's position as a global financial hub. Speaking at a meeting of international business leaders advising the Shanghai government, Waldron emphasized the importance of transparency, predictability, and consistency in generating investor confidence.
He suggested regulatory reforms aimed at easing cross-border data restrictions, improving regulatory transparency, and streamlining capital account opening. Waldron also recommended restructuring foreign exchange regulations, simplifying capital account opening procedures, and expediting the review process for initial public offerings and other capital market transactions.
Additionally, he called for assessing foreign financial institutions based on their global resources, rather than just their local entities, to boost confidence among international investors. Waldron emphasized the need for Shanghai to facilitate cross-border data flow and expand pilot programs for cross-border data transfers in the Lingang New Area.
He also suggested simplifying visa applications and establishing mutual recognition of professional qualifications for international professionals to attract global talent to the city.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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