Growing investor bullishness over the outlook for Japan’s economy is being met by evaporating optimism for China, whose equity market has been among the world’s worst performers this year, according to the latest Bank of America Merrill Lynch fund manager survey published on Thursday.
The monthly survey comprising of 252 fund managers who oversee a combined $725 billion showed that each of the participants expect Japan’s economy to strengthen over the next 12 months. By contrast, just 13 percent expect China’s recovery to turn robust, down from 71 percent in January.
China’s first quarter economic growth figure came in at 7.7 percent which was below expectations and lower than the previous quarter’s 7.9 percent growth, raising questions about the strength of the rebound in the world’s second largest economy.
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