Cautious Optimism for China Stocks in 2024 as Investors Seek Defensive Bets
• Investors to seek out China businesses with global reach or insulation from economic downturn in 2024 • Defensive sectors like healthcare and exporters in EVs and manufacturing to be top picks • China stocks underperformed for 3 straight years despite 2023 rebound predictions • Property crisis and slow COVID recovery weighed on China economy and stock market • Bargain hunters emerging but most investors waiting for clarity before adding China exposure