A Shanghai Security News survey reveals the ten Chinese stocks most recommended by brokers for March, without further ado:
Takeaway 1: the brokers surveyed agreed that performance was the key metric to watch in Q1 and Q2 ’23, presumably in earnings. Such advice amounts to beta-chasing inanity, but giving secret sauce away to reporters doesn’t win Golden Bull awards.
Takeaway 2: the brokers were unanimous in predicting a nascent but persistent uplift in both China’s economy and the securities representing it. While some of their top picks can be argued as defensive (Wens- pork; Laojiao – booze), the representation of telecomms, apps, autos, and insurance are indicative of a broad-based revival in Chinese economic activity.
Not to plug and preen, but: The top performing A-share stock from the February golden portfolio was Huadian Heavy Industries, up 36%, recommended by Tirith Capital’s in-country MoM, Topsperity Securities.