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Stanchart Raises HSI Target to Max. 30,000, Urges Overweight in Gold & Global Equities
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While the US government shutdown saga remains unresolved, Lloyd Chan, Standard Chartered Hong Kong's Head of Investment Strategy, said that the Fed has resumed rate cuts, and American companies have announced a series of multi-year AI investment plans. As market earnings forecasts remain too conservative, the bank has upgraded its view on US equities to Overweight. The bank has also raised its outlook on gold to Overweight, expecting that the Fed's easing cycle, coupled with rising demand from China and India, will support gold prices. Gold is expected to remain strong and could challenge the USD4,100 per ounce level. As for Hong Kong, Raymond Cheng, Chief Investment Officer for North Asia at Standard Chartered, noted that the HSI has broken through the bank's previous forecast range of 24,000-26,000 points and is now entering a consolidation phase. The upcoming fourth plenum is estimated to shed light on the direction of the 15th Five-Year Plan. With policy support and easing domestic competition, the market may revise up its earnings growth forecasts. Accordingly, the bank has raised its 12-month target for the HSI to between 28,000 and 30,000 and kept the Overweight position on global equities. AAStocks Financial News |
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