Asian stocks are downgraded by Goldman Sachs, which lowers it 12-month price target on the MSCI...


Asian stocks are downgraded by Goldman Sachs, which lowers it 12-month price target on the MSCI Asia ex-Japan Index (AAXJ) to 480 from 550 (it's currently about 430). "The macro environment has turned less favorable for regional equities ... growth estimates have declined, notably in China, as policymakers turn more constrictive." The bank is overweight South Korea (EWY), Singapore (EWS), and Thailand (THD), but underweight Oz (EWA), Hong Kong (EWH), Malaysia (EWM), Philippines (EPHE), and Taiwan (EWT).

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  • rcpatrick5443
    , contributor
    Comments (900) | Send Message
     
    Gee! Goldman gives a downgrade right after getting one itself!

     

    "Goldman Sachs Could Miss Earnings This Quarter
    By Alexander Cho - June 25, 2013 | Tickers: GS, SLV, GLD | 0 Comments

     

    Alexander is a member of The Motley Fool Blog Network -- entries represent the personal opinion of the blogger and are not formally edited.

     

    I think we’re going into a tough quarter for Goldman Sachs (NYSE: GS). The bank will find it difficult to thrive with all this market volatility.

     

    Goldman Sachs institutional client services

     

    Source: Goldman Sachs

     

    In the first quarter, Goldman Sachs reported a 10% year-over-year decline in its institutional client-services segment, which handles all of the fixed income, currency, and commodities execution. With the recent decline in the price of gold and silver, I could only imagine things getting worse inside of this Goldman business segment. The broader stock market also declined, so it’s highly probable that the stock trading division could report a year-over-year decline on earnings."
    1 Jul 2013, 07:41 AM Reply Like
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