Spinee wrote a post · Jan 8 02:25

HSBC Global Research Trims HSI End-24 Target to 19,300; CN H-Shrs to Fall 15% More in Pessimistic Case

HSBC Global Research released its quarterly Asian markets report last Friday (5 Jan), expecting Asian equities to benefit from strong global macro headwinds in 2024, particularly if China's economy recovers. The broker forecasted Chinese and Indian markets to drive Asian equities up 12% in 2024. The broker has an Overweight rating on Chinese H-shares, while lowering its 2024 year-end target for the FTSE China Index from 24,800 to 23,130, with a potential upside of 20%.

HSBC meanwhile assigned a Neutral rating to the FTSE Hong Kong Index, HSI and HSCEI. The broker trimmed its 2024 year-end target for $Hang Seng Index(800000.HK)$ from 19,890 to 19,300, representing a potential upside of 13.2%. The 2024 year-end target for $Hang Seng China Enterprises Index(800100.HK)$ is also cut from 7,190 to 7,160, reflecting a potential upside of 24.1%.

$ProShares UltraShort FTSE China 50(FXP.US)$ $Hang Seng TECH Index(800700.HK)$ $BABA-SW(09988.HK)$ $TENCENT(00700.HK)$ $JD-SW(09618.HK)$

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Spinee

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