The Hong Kong A-shares market suddenly surged, with the Hang Seng Technology Index rising nearly 3%! What happened?
Analysts believe that the market rebound is partly related to the decline of the US dollar, and also partly due to market expectations for the upcoming year-end heavyweight meeting.
Brokerage morning meeting highlights: continue to be bullish on the Chinese stock market with a "confidence reassessment bull market."
At today's brokerage morning meeting, China Securities Co.,Ltd. suggested continuing to be bullish on the Chinese stock market in the medium term with a 'confidence revaluation bull'; Galaxy Securities stated that top real estate companies are showing excellent operational management capabilities and have financial advantages, with the potential to further increase their market share; Citic Sec believes that the fiberglass industry is currently at a great opportunity allocation point.
Daiwa downgrades the rating of Chinese stocks to 'slightly underweight', while High Yield downgrades the rating of Hong Kong stocks to 'underweight'.
Wall Street's major banks have become more cautious about the Chinese stock market, mainly due to persistent deflationary pressures and geopolitical tensions. Morgan Stanley has downgraded its rating on Chinese stocks to 'slightly underweight', believing that the Chinese government's likelihood of introducing fiscal stimulus for consumption and housing issues ahead of schedule next year is very limited, as it is concerned that the mainland will worry about moral hazards and premature transition to a welfare state. This will pose stronger downside risks to corporate profits and market valuations in the coming months. The year-end target for the MSCI China Index is 63, slightly lower than last Friday's (15th) closing of 63.93. Goldman Sachs has also
With Trump's inauguration approaching in January, Bank of America Merrill Lynch advises investors to adjust their portfolios: focus on US bonds, European and Chinese stock markets, and gold.
Bank of America advises investors to adjust their portfolios before Trump's inauguration in January, focusing on US Treasury bonds, China and Europe stock markets, and gold.
China Stimulus Trade to Pick up in Stocks by Late-Nov, JPM Says
Express News | In October, over 100 billion Hong Kong dollars flowed into overseas China stock ETFs.