Recently, a Citigroup report pointed out that H-shares listed in Hong Kong are more sensitive to the Fed's rate cuts, therefore remaining bullish on H-shares more than A-shares. Citigroup has lowered the year-end target for Hang Seng Index by 3% to 19,800 points, and also reduced next year's mid-target by 5% to 21,000 points.
Financial news app Intelligence Finance learned recently that a Citigroup report pointed out that H-shares listed in Hong Kong are more sensitive to the Fed's rate cuts, therefore remaining bullish on H-shares more than A-shares. Citigroup has lowered the year-end target for Hang Seng Index by 3% to 19,800 points, and also reduced next year's mid-target by 5% to 21,000 points.
Citigroup has upgraded telecom stocks from "Neutral" to "Shareholding", reflecting better-than-expected performance in the first half of the year, with attractive yields; while raw material stocks have been downgraded from "Shareholding" to "Neutral", mainly considering the downside risks of sales volume and prices.
In terms of stocks, Citigroup added Tencent Holdings (00700), GDS Holdings (09698), and Haier SmartHome (06690) as preferred stocks. Maintaining ASMPT (00522), Techtronic Ind (00669), and BYD Company (01211) as top buy recommendations.