星展:重申恒指未来12个月目标预测20300点 列出首选股名单

DBS: Reiterates its target forecast for Hang Seng Index within the next 12 months to reach 20300 points and lists its preferred stocks.

Breakings ·  Jun 20 15:13
DBS has published its outlook report for the Hong Kong stock market in the second half of the year. Investors are fervently discussing the impact of the domestic real estate market on China's stock market. The bank acknowledges the significant impact of the real estate market on China's GDP and financial stability but also believes that as China's national structural rebalancing progresses, the real estate industry's impact on the Chinese economy is weakening. The bank believes that potential interest rate cuts and continued inflow of southbound capital will benefit the Hong Kong stock market in the second half of 2024. The bank reiterates its optimistic view of the Hong Kong stock market and predicts the Hang Seng Index will reach 20300 points within the next 12 months until June 2025, with earnings per share growth of 6.4% and a forecasted 9.7 P/E ratio in 2024. The bank believes that China's economy is stabilizing and undergoing structural rebalancing and the relevant authorities are expected to introduce more supportive policies and improve liquidity conditions. DBS specifies two investment themes for the second half of the year: firstly, actively seek opportunities to collect high-quality stocks in industries such as the Internet, technology, and hardware that can acquire market share and improve shareholder value. Secondly, continue to hold high-yield state-owned enterprise stocks. The bank lists its preferred Hong Kong stocks, with Ping An Insurance replacing Ke Holdings, including AAC Technologies, Anta Sports, China Mobile, Sinopec, China Resources Beer, Ping An Insurance, Samsonite, Tencent, Ctrip, and Xiaomi.

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