Bank of America strategist Michael Hartnett recommends buying Chinese stocks on the eve of China's announcement of a new round of fiscal stimulus. Hartnett and his team at Bank of America indicate that with raised economic growth expectations and increasing bond yields, they expect an increase in China's asset allocation. "We buy Chinese stocks on dips," the strategist wrote in a memo. He pointed out that policymakers hinted at using capital markets to "actively stimulate domestic sentiment and demand".