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

|By:, SA News Editor

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).