This Chinese New Year, more than a billion people globally will celebrate the Year of the Rat. We believe investors everywhere can also find reason to celebrate China as a source of continued economic growth. Even if US-China tensions linger, China’s heavy investment in advanced manufacturing and regional partnerships should strengthen its position as a global economic powerhouse in the years ahead.
The financial markets are signalling that the situation in the Middle East won’t get out of hand, but US-Iran friction could continue for some time. The defence industry and oil and gas-related sectors could remain well-supported, but overall we believe investors should be cautious yet patient. Look to higher-quality stocks with lower correlations to the broader market and “hunt for income” if headline volatility is a risk you wish to avoid.
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