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JPMorgan joins the UBS group to lower its target for Japan's stock market based on exchange rate risk.
Due to the strengthening of the yen, JPMorgan strategists have joined the lineup of ubs group to lower year-end target levels for major Japanese stock indexes. Rie Nishihara and other JPMorgan securities strategists in Japan believe that the TOPIX index is likely to rise to 2,700-2,800 points, down from the previous expectation of 2,950 points. They expect that the nikkei 225 index, which is mainly composed of technology stocks, will reach around 39,000-40,000 points by the end of the year, lower than the previous estimate of 42,000 points. Both stock indexes rose above the previous expected levels and hit their peaks in early July before sharply falling into bear markets afterwards. JPMorgan stated in a report on Friday.
Goldman Sachs maintains a "shareholding" rating on Swire Properties and raises the target price to HKD 16.2.
JPMorgan released a research report stating that Swire Properties (01972) announced a surprise share buyback plan of 1.5 billion yuan, and the stock price rose by 12% yesterday. The rating is maintained at "shareholding" because the stock is relatively stable in the Hong Kong real estate industry. Swire Properties is one of the few companies in the industry that promises a mid-single-digit growth in dividend distributions. Although rental income from Hong Kong office buildings may continue to decline, contributions from new shopping malls and reserved development plans will offset the drag. The target price has been raised from HKD 15 to HKD 16.2. As for whether the stock price rebound can be sustained, the bank pointed out that based on historical experience, after Hong Kong developers announced share buyback plans, the stock price generally rises within a day.
The mysterious investor who bet $2.7 billion on US bonds has appeared and said that the US economy is approaching recession.
As early as June, a mysterious investor made a record-breaking bet on long-term US bonds, causing waves in the ETF market and trading professionals to search for clues to explore the direction of Wall Street. Now, the big name behind this bet has been revealed and he has stated that his economic recession expectations have finally paid off. On Tuesday, Brent Schutte of Northwestern Mutual Wealth Management stated that it was his company that invested $2.7 billion in BlackRock's exchange-traded fund (code: TLT) for US bonds with a maturity period of over 20 years on June 24.
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UBS Group: The surge of Wall Street panic indicators provides opportunities for market entry.
While traders are at a loss due to this week's stock market crash, Solita Marcelli from UBS Group remains bullish on the US stocks' upward trend in the next few months. The chief investment officer of the bank's wealth management department stated that recent market volatility has not weakened her view on the 2024 stock market fundamentals. She pointed out that with the Fed's imminent first rate cut and a stable economic growth, the S&P 500 index is expected to rise by an average of about 17% in the 12 months after the central bank begins to relax its policies. For this reason, Solita Marcelli said, "I believe the market will..."