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Nikkei Markets

BlackRock scales back on China stocks as trade war drags

Citi recommends staying invested, sees Asia's growth as 'unstoppable'

BlackRock, the world's largest asset manager, is taking a defensive stance on Chinese and tech stocks, bracing for further tensions between Washington and Beijing.   © Reuters

SINGAPORE/HONG KONG (Nikkei Markets) -- As geopolitical tensions grow, the world's major financial institutions are factoring in a period of extended risk although they differ on how the developments will affect the outlook for markets.

BlackRock, the world's largest asset manager, is holding more cash and scaling back on Chinese and technology stocks. But it remains "constructive" on China-listed A-shares because of cheaper valuations, Andrew Swan, its head of global emerging market equities, said at a briefing in Hong Kong.

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