From BigGo Finance · BigGo Finance · · 1m 10s
US Tech Selloff Ripples Through Global Markets
China Galaxy Securities' Zhang Jun says A-share pricing logic intact despite US tech selloff.
In brief
China Galaxy Securities' Zhang Jun says A-share pricing logic intact despite US tech selloff. China Galaxy Securities' Zhang Jun says A-share pricing logic remains intact as US tech stocks fell 4.48% last week. Originally reported by BigGo Finance.
US Tech Selloff
US technology stocks fell sharply last week, dragging down sentiment across global equity markets.
Zhang Jun's Assessment
Zhang Jun, chief economist at China Galaxy Securities, said on October 19 that last week's sharp pullback in US tech stocks amounted to only a short-term sentiment shock for China A-shares.
Nasdaq Decline
The Nasdaq Composite fell 4.48% last week (October 12-16), while the S&P 500 slipped 1.95%.
GDP Growth
China's GDP grew 4.6% year-on-year in the first three quarters, totaling about 107.11 trillion yuan.
New Quality Productive Forces
New quality productive forces are being deployed with growing effect in digital economy, high-end equipment and frontier innovation sectors.
CSI 300 Valuation
The CSI 300's price-to-earnings ratio sits at about 13 times, a historical midpoint with low valuations providing a buffer.
Investor Advice
Zhang Jun advised investors to take a rational view of overseas disruptions and focus on themes like new quality productive forces.
In short
China Galaxy Securities' Zhang Jun says A-share pricing logic remains intact as US tech stocks fell 4.48% last week.
