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Everbright Securities Int'l Keeps HSI Target at 25,000 Lv; High Chance of US Rate Cut in Sep
Recommend 32 Positive 56 Negative 25 |
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Looking back at 1H25, Everbright Securities International's securities strategist Kenny Ng noted that global markets were impacted by the US additional tariffs, which escalated trade tensions and led to a correction in US stocks, with the S&P 500 diving by nearly 20% at its lowest before rebounding. As risk-averse funds shifted towards the lower-valued Chinese and Hong Kong stock markets, the HSI repeatedly climbed to near the 25,000 level as supported by China's stimulus policies and the return of foreign capital. Given the potential for improvement in the external trade environment in 2H and the launch of a new round of domestic economic stimulus policies in China, Ng estimated Hong Kong stocks to trend steadily upward in 2H, with the HSI's highest target maintained at 25,000. In terms of stock selection, Everbright Securities International recommended four major sectors: domestic consumption, technological innovation, new energy vehicles, and traditional thermal power. The broker was upbeat about TINGYI (00322.HK), TONGCHENGTRAVEL (00780.HK), TENCENT (00700.HK), BILIBILI-W (09626.HK), BYD COMPANY (01211.HK), LEAPMOTOR (09863.HK), HUANENG POWER (00902.HK), and CHINA RES POWER (00836.HK), with target returns for these stocks ranging from 12% to 21%. Kimmy Tong, Everbright Securities International's global and Fx market strategist, added that there is a high chance of the US cutting rates in September. As investors will continue to favor gold as a safe-haven asset, Tong anticipated spot gold to fluctuate between USD2,950-3,650 per ounce. Her target price for gold in 2H was USD3,650 per ounce. AAStocks Financial News |
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