We Are Neutral on Chinese Equities, Says JPMorgan’s Sheng

The video discusses the current state of dollar bonds and the Chinese property market, emphasizing that the market is unlikely to pose a systematic risk. It highlights the PBOC's policy tools, such as liquidity injections and interest rate adjustments, to manage potential market fallout. The macroeconomic weakness in China is noted as a drag on the economy, affecting earnings momentum. The potential for a triple R cut by the PBOC is explored, with a focus on its impact on financial institutions, particularly smaller banks.

What is the overall view regarding the issue in the Chinese property market?

What actions are policymakers taking to contain risks in the financial market?

How might the PBOC's potential actions affect liquidity in the market?

What are the expected impacts on earnings perspective for next year due to the property market?

Which part of the market is expected to benefit the most from a potential rate cut?