Investment houses have begun publishing their predictions for Chinese asset prices next year, and after a bruising 12 months in financial markets even bulls have a tempered outlook. The Hang Seng equity index has fallen about 6% this year and the MSCI China index has lost about 13% against a 17% rise in world stocks. On Nov. 17 the Hang Seng sat at 25,582, MSCI China at 92.7 and the blue-chip CSI300 index at 4,882. Here is a summary of some forecasts for Chinese assets at the end of 2022: INVESTMENT HANG SENG MSCI CHINA CSI300 USD/CNY HOUSE TARGET TARGET TARGET Goldman 105 5,500 6.2 Sachs (12-month f"cast) Morgan 25,000 95 5,250 6.4 Stanley Barclays 6.5 KEY COMMENTS: *GOLDMAN SACHS "We believe Chinese stocks will have a better year in 2022 as the market recovers from a major correction and transitions into a "hope" phase, where P/E expansion typically trumps weak fundamental growth and drives strong equity gains." *MORGAN STANLEY "MSCI China has had its worst ever relative performance drawdown vs. broad emerging markets in 2021...despite such a record underperforming year, we still see some lingering risks skewed towards higher volatility or more downside in the near term. This makes us believe that now is not yet the right time to go bullish at a broad index level."