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<Research>Daiwa: HSI Reaches Mid-yr Target, but Structural Opportunities Limited; Focus on TMT/ Domestic Demand/ Other Sectors Suggested
Recommend 13 Positive 21 Negative 12 |
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Global investors appear to be pricing in the possibility that US President Donald Trump may make concessions on his reciprocal tariff policy, despite continued uncertainties over US trade policy, Daiwa released a research report saying. On the other hand, since the rapid rebound on 7 April, the SHCI/ HSI have risen to 3,316/ 22,662 (as of 6 May) each, close to the broker's mid-year targets of 3,260/ 22,700. Daiwa's end-2025 target for the HSI was 24,000 (equivalent to a projected PE ratio of 10.5x and an 7.5% increase in corporate earnings). The broker believed that, as the HSI reaches its mid-year target, structural trading opportunities in China's stock market will be limited at current index levels, and suggested that investors should focus more on sectoral themes such as TMT and domestic demand sectors. Daiwa's top picks among Hong Kong equities include TENCENT (00700.HK), ANTA SPORTS (02020.HK), BYD COMPANY (01211.HK), CHINA RES BEER (00291.HK), NTES-S (09999.HK), SINO BIOPHARM (01177.HK) and BEKE-W (02423.HK), etc.. AAStocks Financial News |
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