Citi has lowered its 2023 target for the Hang Seng Index to 29,600 points, with Tencent (00700.HK) and AIA (01299.HK) among its top picks for H shares.

Citi released a research report expressing cautious optimism about the outlook for China's stock market in the second half of 2026, favoring the technology and export sectors. The bank upgraded its investment rating for the insurance sector from "neutral" to "overweight." Citi expects insurance companies to benefit from higher investment returns from equities and inflows of bank deposits into insurance products. The bank set year-end 2026 target levels for the Hang Seng Index, CSI 300 Index, and MSCI China Index at 29,600 points (a 1.3% decrease from the previous target of 30,000 points), 5,600 points, and 92.0, respectively, while introducing a mid-2027 Hang Seng Index target of 30,500.

AASTOCKS16:28

HKEX Announcement Insights | Alibaba-W released its annual financial results, with revenue reaching RMB 1,023.67 billion, representing a year-on-year increase of 3%.

Alibaba-W released its annual results, with revenue reaching RMB 1,023.67 billion, a year-on-year increase of 3%. Tencent reported steady growth in revenue and net profit for the first quarter, with non-IFRS attributable profit to equity holders amounting to RMB 67.905 billion, marking an 11% year-on-year increase.

Zhitong Finance09:00

Chow Tai Fook (00659.HK) sold 100% of the equity in Hunan Changliu Expressway for RMB 1.61 billion.

Gelonghui, May 13th丨Chow Tai Fook Creation (00659.HK) announced that on May 13, 2026, the seller, Chow Tai Fook Creation Investment Co., Ltd., entered into an equity transfer agreement with the buyers (Shanghai Infrastructure Construction Development (Group) Co., Ltd. and Shanghai Urban Construction (Guangdong) Construction Development Co., Ltd.) and the target company. Accordingly, (i) the seller has conditionally agreed to sell, and the buyers have conditionally agreed to purchase 100% of the equity in the target company, Hunan Chow Tai Fook Creation Highway Co., Ltd., for a total consideration of approximately RMB 1.61 billion (similar to the net cash outlay incurred by the Group for the acquisition of this project's equity); and (

Gelonghui FinanceMay 13 19:52

Citi: Initiated coverage on Chow Tai Fook Creation (00659) with a 'Buy' rating, riding the tailwinds of growth in Hong Kong's insurance industry.

Management disclosed that more than HKD 300 million has been generated from the divestment of non-core assets in the first half of fiscal year 2026, with potential future sales expected to bring an additional HKD 3 to 4 billion. The bank anticipates that the logistics properties recently acquired by the company will contribute to growth in attributable operating profit this year.

Zhitong FinanceApr 27 11:21 · Ratings

Citi Sticks to Its Buy Rating for NWS Holdings (NWSZF)

TipRanksApr 25 08:27 · Ratings

NWS Holdings Renews Major Connected-Party Service Agreements Ahead of 2026 Expiry

TipRanksApr 24 17:40