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Stanchart Raises HSI 12Mth Target to 25,800, Sees Gold at USD3,200
Recommend 4 Positive 8 Negative 7 |
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Raymond Cheng, Chief Investment Officer, North Asia of Standard Chartered Wealth Management, stated a preference for offshore stocks listed in Hong Kong. The bank raised its 12-month target range for the HSI to 24,000-26,000, with a target of 25,800. If U.S. tariff news and China’s persistent deflationary pressures relieve, it could further bolster market optimism toward Chinese stocks, potentially pushing the HSI to an optimistic scenario range of 26,000-28,000. He noted that the U.S. has implemented a 30% tariff increase on China, which is still half of the 60% tariff on all Chinese goods proposed by Trump during his campaign. However, it is currently difficult to predict the timeline for the next tariff hike, contingent on the progress of discussions between the two countries and whether this could mitigate the extent of additional tariff increases. Among asset classes, the bank remained most bullish on gold, recommending investors add to their positions during pullbacks. Central banks continue to show strong interest in buying gold, and U.S. policy uncertainty has added supportive factors for gold, with the 12-month target price raised to USD3,200. Also, the bank expected the Federal Reserve’s rate cut timeline to be put off to 2H25, while still anticipating a 50 bps rate cut this year. AAStocks Financial News |
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