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<Research>BOCI Foresees HSI to Hit 20,010 by Yr End, Recommends TENCENT, CHINA MOBILE, MEITUAN-W, CCB, ICBC, 3 Oils
Recommend
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Positive
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Negative
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BOCI expected in a research report that Hong Kong stocks will remain highly volatile in 2H24, but is cautiously optimistic about the trend of Hong Kong stocks in the period, believing that the National Nine Regulations will play a key role in the healthy development of Hong Kong stocks. At the same time, the broker envisaged the introduction of more policies in 2H24 to improve the liquidity of Hong Kong stocks.

According to BOCI, the current valuation of Hong Kong stock market is still attractive and it expected the HSI to reach 20,010 by the end of the year. The broker is optimistic about high dividend yield stocks, companies benefiting from southbound stock connect and high-growth stocks with a strong competitive edge in their industries.

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BOCI recommended TENCENT (00700.HK), CCB (00939.HK), ABC (01288.HK), ICBC (01398.HK), CM BANK (03968.HK), CHINA MOBILE (00941.HK), MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), PETROCHINA (00857.HK), SINOPEC CORP (00386.HK), CNOOC (00883.HK), FUYAO GLASS (03606.HK), CHINA SHENHUA (01088.HK), CHINA TELECOM (00728.HK), CHINA RAILWAY (00390.HK), HUANENG POWER (00902.HK), CHINA POWER (02380.HK), WH GROUP (00288.HK), PDD (PDD.US), and KUAISHOU-W (01024.HK).

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