BlackRock's Koesterich: Trimming Equities a Bit After Extraordinary Rally

The video discusses the recent extraordinary market rally, highlighting the VIX index's decline and US equities' rise. Despite these gains, the underlying economic situation remains unchanged, prompting a reevaluation of equity holdings. The discussion shifts to emerging markets, particularly China, emphasizing opportunities in domestic consumption sectors like Internet retail and liquor manufacturing. The focus is on areas less affected by trade tensions and more aligned with long-term growth in Chinese consumption, supported by a growing middle class and attractive valuations.

What are the reasons given for favoring domestic consumption over foreign products?

What valuation trends for Chinese companies are mentioned in the text?