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Interest rate increase may reduce stock prices next year, economist says
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INTEREST rates are expected to rise amid China’s interest rate liberalization, which may reduce the price of stocks next year, Li Xunlei, chief economist of Haitong Securities, told a forum in Shanghai.
GDP growth may dip next year but will remain stable, Li told a forum on Friday.
He suggested investors take advantage of investment opportunities in industries that will be gradually deregulated, such as natural gas, health care, culture and media, finance, telecommunications, railways and aviation.
However asset allocation should be prepared against potential risks from rising interest rates, as the People’s Bank of China becomes more reluctant to inject liquidity in the market and accelerates interest rate deregulation, he added.
Liu Shengjun, deputy director of the China Europe International Business School (CEIBS) Lujiazui International Finance Research Center, told the same forum that reform of the state-owned enterprises, private banks and urbanization will propel China’s economic transformation. He emphasized that urbanization will create more consumption for the world’s second-largest economy as well as noteworthy investment opportunities.
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