Kenny Wen, Head of Investment Strategy at KGI Asia, remarked that the 2024 target for the HSI was set at 19,260. Wen favored stocks that are well-positioned to benefit towards the latter part of the rate-hike cycle, including TENCENT (00700.HK)  -2.400 (-0.595%)    Short selling $1.27B; Ratio 10.844%   , KUAISHOU-W (01024.HK)  +1.400 (+2.800%)    Short selling $459.39M; Ratio 23.759%   , and BIDU-SW (09888.HK)  +1.250 (+1.543%)    Short selling $156.47M; Ratio 21.808%   ; stocks that could benefit from the recuperating industry sentiment, including SHENZHOU INTL (02313.HK)  -0.700 (-1.232%)    Short selling $17.99M; Ratio 12.279%   , GALAXY ENT (00027.HK)  +0.050 (+0.153%)    Short selling $37.79M; Ratio 13.887%   , and LENOVO GROUP (00992.HK)  -0.170 (-1.820%)    Short selling $160.77M; Ratio 14.706%   ; and stocks that should be stable performers, such as CHINA MOBILE (00941.HK)  +0.900 (+1.292%)    Short selling $354.51M; Ratio 20.344%   and SPDR GOLD TRUST (02840.HK)  +6.500 (+0.354%)   .

As for China, Wen anticipated that the Chinese government would set the economic growth target for 2024 at the range of 4.5-5%, while the economic growth of the year was projected to reach 4.9%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-15 16:25.)

Related NewsTENCENT 1-3Q NP Grows 62% YoY to RMB142.75B; Non-IFRS NP Up 46%