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<Research>JPM Expects Capital to Continue Flowing into HK; Top Picks HKEX/ TECHTRONIC IND/ MTR CORPORATION/ HENDERSON LAND
Recommend 41 Positive 52 Negative 17 |
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The MSCI Hong Kong (MXHK) Index has returned 26% in USD terms YTD, and its forward 12-month P/E ratio is currently 0.3 standard deviations below the 10-year average, making Hong Kong the lowest-valued market in the Asia-Pacific region (excluding ASEAN), according to a report from JPMorgan. As Hong Kong has shown a more pronounced recovery trend since 2023, strong financial market performance, a stabilizing residential property market, and low valuations relative to historical levels and other markets, JPMorgan believes Hong Kong can continue to attract capital inflows and upholds a positive outlook for next year. JPMorgan's top picks include HKEX (00388.HK), Futu (FUTU.US), GALAXY ENT (00027.HK), MGM CHINA (02282.HK), TECHTRONIC IND (00669.HK), CHINA STATE CON (03311.HK), HENDERSON LAND (00012.HK), and MTR CORPORATION (00066.HK). It has also upgraded the rating of the communication services sector to Overweight. AAStocks Financial News |
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