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Under the banner of flowers, the rating of the US stock market has been downgraded while the rating of the Chinese stock market has been raised: "The theory of American exceptionalism no longer applies."
Citi has downgraded its rating for USA stocks from overweight to neutral, while upgrading the Chinese market to overweight, noting that the "American exceptionalism" is at least in a state of pause. Dirk Willer, head of Citi's global macro research and asset allocation, wrote in a report that Citi has maintained an overweight rating for USA stocks since October 2023, but the ability to outperform Large Cap has become more evident. He also stated that, given the breakthroughs in DeepSeek's AI Technology, government support for the Technology Industry, and still cheap valuations, the Chinese stock market remains attractive even after the recent rebound. Willer wrote
Citi: Maintains MEITUAN-W 'Buy' rating with a Target Price of 200 Hong Kong dollars.
Citi released a Research Report stating that it maintains a "Buy" rating on MEITUAN-W (03690), with a Target Price of HKD 200. It is reported that Deliveroo has decided to exit the Hong Kong market by selling part of its Assets to Foodpanda, which is under Delivery Hero. The firm believes this is a positive outcome for Keeta/MEITUAN, as the Hong Kong market will now become a duopoly, and Keeta is likely to capture more market share from Deliveroo, narrowing the gap with Foodpanda in the coming months.
Citi: Upgraded Xiaopeng Autos-W rating to "Buy" and raised the Target Price to 113.00 HKD.
Citigroup released a Research Report stating that, given the strong model launch rhythm of Xpeng Motors-W (09868) and ongoing investment in the AI/Siasun Robot&Automation field, they adopted a P/S multiple of 2.5 times the expected 2025 level (one standard deviation above the two-year average; previously 1.9 times) and raised the Target Price from HKD 53.30 to HKD 113.00. Based on the strong Order acquisition situation for 2025/2026, the release of new models, improved profitability in 2026, and potential additional growth drivers in the AI/Siasun Robot&Automation sector, the rating was upgraded to 'Buy.' Citigroup.
Express News | Citi Downgrades U.S. Equities to Neutral; Upgrades China to Overweight
After the regulatory Institutions issued a restructuring warning, Japanese Brokerages began evaluating the repackaged Japanese bond products.
Leading brokerages in Japan are reassessing their Business of selling structured loans to local Banks, after Japanese financial regulators announced a comprehensive overhaul of this $67 billion market. A representative from Nomura Holdings stated in response to a media inquiry involving 15 investment banks that the company is evaluating the practice of repackaging Japanese government Bonds into loans. The brokerage subsidiaries of Mitsubishi UFJ Financial and Mizuho Financial are also investigating the sales status of such products. Currently, the Financial Services Agency of Japan is conducting strict reviews of these products. A senior official from the Financial Services Agency criticized local Banks for increasing their Shareholding in the repackaged Bonds during an interview last month.
SHANGHAI FUDAN received a Shareholding of 173,000 shares from Citibank, at a price of approximately 24.51 HKD per share.
According to the latest information from the Hong Kong Stock Exchange, on March 3, Citigroup increased its Shareholding in SHANGHAI FUDAN (01385) by 173,000 shares, at a price of HKD 24.5125 per share, totaling approximately HKD 4.2407 million. After the increase, the latest number of shares held is approximately 14.3849 million shares, with a latest shareholding ratio of 5.05%.
exFan of MMoo : me at 36