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<Research>UBS Raises HSI Target to 22,100, Prefers 7 HK Stocks
Recommend 202 Positive 275 Negative 152 |
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UBS released a research report believing that the recent series of policy measures in China and the meeting of the Politburo of the Chinese Communist Party provided more decisive support to stabilize the financial market, the real estate market and support consumption. UBS raised its target forecast for the HSI by 7.3% to 22,100 from 20,600, and its target forecast for the MSI Hong Kong Index to 9,600 from 9,500, reflecting lower interest rates, weaker USD, stronger-than-expected policy stimulus and higher corporate earnings forecasts. Before China's macro and demand are better reflected in fundamentals, UBS will maintain its barbell strategy in terms of stock selection, and kept defensive high yielders as a core part of its preference list as they should benefit from the rate cut cycle, including PCCW (00008.HK), CATHAY PAC AIR (00293.HK), BOC AVIATION (02588.HK), HENDERSON LAND (00012.HK), SANDS CHINA LTD (01928.HK), GALAXY ENT (00027.HK) and AIA (01299.HK), all of which are rated at Buy. UBS also removed CKH HOLDINGS (00001.HK) and SWIREPROPERTIES (01972.HK) from the most preferred list and tilted less defensive. AAStocks Financial News |
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