Goldman: China stock sell-off offers opportunities

Investment brokerage Goldman Sachs Group said today that the large sell-off that occurred in the Chinese stock markets yesterday offers buying opportunities, Bloomberg reported. "While we envisage further policy headwinds… we believe April 19’s unexpectedly large selloff may provide strategic entry opportunities," wrote Goldman analysts. The brokerage confirmed its target of 4,300 for the CSI 300 index by the end of 2010, which dropped 5.4% yesterday to 3,176.42 after Beijing announced new measures to tighten the property market. The Shanghai Composite Index also declined by 4.8%. The SCI has declined by 9.1% this year, making it the world’s third-worst performing market.