Chinese Equities Are Pricing in AI Story Now, GS Says -- Market Talk

Dow Jones

Mar 10, 2025

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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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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2025 02:47 ET (06:47 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Equities Are Pricing in AI Story Now, GS Says -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Equities Are Pricing in AI Story Now, GS Says -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-10 14:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2025 02:47 ET (06:47 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4504","symbol_name":"桥水持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2518296187","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518296187","pubTimestamp":1741589220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. 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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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 10, 2025 02:47 ET (06:47 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}