0647 GMT - Chinese equity markets have better priced in the AI theme now, Goldman Sachs analysts say in a research note. The valuation premium between U.S. and China tech proxies has narrowed from 152% at the beginning of the year to 71% now after the emergence of DeepSeek, they note. "Profitability improvements and earnings upgrades are probably needed to drive further gains in the AI-Tech universe," they say. Meanwhile, Chinese policymakers' clear signals of a pro-growth policy stance and low tolerance for systemic risk during the NPC meeting are critical for "anchoring growth expectations and keeping policy risk premium in check," GS adds. However, GS cautions that U.S.-China trade tensions could be a major risk factor in the coming months. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 02:47 ET (06:47 GMT)
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