Goldman Cuts Targets on China Stocks for Second Time This Month

Strategists at Goldman Sachs Group Inc. cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions with the US.

“US-China trade tensions have soared to unprecedented levels, prompting concerns about global recession, and decoupling risks between the two largest economies globally in other strategic cohorts, notably capital markets, technology, and geopolitics,” a team led by Kinger Lau wrote in a note Monday.

The 12-month target for the MSCI China Index was cut to 75 from 81, while that for the CSI 300 Index was lowered to 4,300 from 4,500. The new targets ...