Oct.16.2020
"China's economic recovery will lift surrounding Asian economies to a certain extent," Chao, global market strategist for the Asia Pacific at the firm, told CNBC's "Street Signs Asia" on Monday.
In particular, the focus is on "whether the Chinese consumer can quickly return back to normalized activity," Chao said. "I think that the Chinese will have much more impact … on boosting other Asian economies."
Chao's comments came after recent data showed China's manufacturing activity expanded in September, pointing to a continued recovery for the world's second-largest economy. In August, the country reported its first positive retail sales report for the year so far, though online sales growth for consumer goods and services in that month slowed.
Chao said his firm has observed "record numbers" in restaurant bookings as well as Chinese households traveling during the ongoing Golden Week holidays.
"I continue to expect Chinese equities to outperform developed market equities because China has been showing a continued V-shaped rebound, you know, from coronavirus," he said.