Goldman Sachs Downgrades China Growth Forecast Amid Property Slowdown and Post-Covid Bounce Fades.

Shares of Chinese tech giants, including Bilibili, Alibaba, and Tencent, fell on Monday amid concerns that the government may not provide enough stimulus to boost the economy. Goldman Sachs became the latest Wall Street bank to cut its growth forecasts for China, citing a lack of "concrete stimulus" and political constraints. The bank sees limited options for the government to boost the economy, with ongoing policy support in high-end manufacturing and new energy vehicles unlikely to drive much growth. Other banks, including UBS and JPMorgan, have also recently trimmed their China forecasts. U.S. investors have largely shied away from investing in China this year, with Bank of America calling investing in Hong Kong a major contrarian bet.