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The Fed has started an interest rate cut cycle, with funds flowing into Chinese assets! Which Hong Kong stocks have taken the lead?
With the stimulus of the upcoming interest rate cut by the Federal Reserve, Chinese assets have shown signs of a breakout in recent times. The Hang Seng Tech Index has risen for five consecutive trading days, and several high-performing stocks have also started the market trend this month.
Pop Mart (09992.HK): Product scenario layout helps promote the group's IP consolidation. Promising growth potential.
The implementation of the global strategy has been effective, with high revenue performance in 2024H1, maintaining a "buy" rating.
CICC: Mainland China's social retail sales in August were under pressure on a monthly basis, focusing on the implementation of policies to promote consumer spending.
CICC's report states that the National Bureau of Statistics announced a total retail sales of 3.87 trillion yuan (same below) in August, with a year-on-year increase of 2.1% and a monthly decrease of 0.6 percentage points in growth rate. From January to August, the total retail sales reached 31.2 trillion yuan, an increase of 3.4% year-on-year. In terms of structure, the service industry and online channels performed relatively well in August, and the resilience of essential consumer goods consumption was highlighted. It is recommended to pay attention to the subsequent consumption rebound trend driven by policies such as replacement of old with new to expand domestic demand and promote consumption. CICC is bullish on the performance of leading companies in the light industry and retail cosmetics sector this year, and focuses on recommending leading players in high-prosperity tracks, such as giants in the cosmetic and medical beauty tracks, such as Shengshi Biology.
Huachuang Securities: Maintains a "recommended" rating on Pop Mart (09992) with a target price of 56.2 Hong Kong dollars
Huachuan Securities is bullish on the performance growth brought by the expansion of Pop Mart's overseas stores and the improvement of store efficiency.
CICC: The differentiation in the retail sector continues to intensify, and the prosperity of trendy play further increases.
The performance differentiation between retail sectors continued to intensify in the first half of the year, with the trendy consumer sector benefiting from the self-enjoyment consumer demand and brand globalization drive. The Q2 economic sentiment further improved, and leading companies achieved better-than-expected growth both domestically and overseas.
Express News | Pop Mart has established a trading company in Ningxia with a registered capital of 1 million.
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