MW:Global leading indicator in contraction: Goldman
By Chris Oliver
HONG KONG (MarketWatch) -- Goldman Sachs said Friday its latest global leading indicator is flashing contraction. Asian equities tend to perform their worst during the phase, Goldman said, noting that the negative trend for Asian assets should last at least another three months. Goldman said on a one-year outlook it had an overweight rating on China and had recently upgraded to neutral its view on Hong Kong and Malaysia, switching from a prior recommendation for investors to avoid these markets. Among other recent changes, Goldman said it had lowered its recommendation on Australia to underweight, while it cut its view on Indonesia to market weight.
