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HSBC Private Banking Upholds Neutral View on CN, HK Stocks
Recommend 12 Positive 31 Negative 9 |
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Cheuk Wan Fan, Chief Investment Officer Asia of HSBC Global Private Banking and Wealth, stated that the People's Bank of China, the China Securities Regulatory Commission, and the National Financial Regulatory Administration jointly announced a comprehensive economic stimulus solution on September 24, reflecting the Chinese government's heightened urgency to mitigate deflation risks, restore market confidence, and adopt a more aggressive monetary easing policy. The scale and pace of the new round of easing policies exceeded the conservative market expectations. Fan also noted that the bank maintained a neutral view on Chinese and Hong Kong stocks, believing that low-valued industry leaders will offer short-term rebound opportunities. The broker was bullish on high-quality/ high-yield Chinese SOE stocks, as well as blue-chip internet giants with stable earnings and valuations significantly lower than their global peers. As for the Hong Kong market, the bank preferred high-yield stocks in the insurance, telecom, and utility sectors with low valuations, as well as certain oversold but financially sound property developers. AAStocks Financial News |
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