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<Research Report>Daiwa Downgrades HK Healthcare to Neutral; Mengniu Added to Top Picks, CMB A-shr & AIA Ousted
Recommend 50 Positive 122 Negative 67 |
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Daiwa pinpointed the long-term investment value for China's A-shares and Hong Kong bourses. CSI 300's 12-month forward PER was below the average over the past decade. Equally, HSCI's valuation multiple receded close to a record-low level at more than 1SD behind the past 10-year average. For the Hong Kong market, Daiwa chopped the healthcare sector earnings growth forecast to 17.3% for 2022. The broker also downgraded the sector from Overweight to Neutral, given geopolitical risks for biotech firms with greater exposure to overseas operation. Equally, it upgraded the communication services sector from Underweight to Neutral. Daiwa added GLODON (002410.SZ) and MENGNIU DAIRY (02319.HK) to the China/ Hong Kong market top pick list, and removed CMB (600036.SH) and AIA (01299.HK) from the list. Daiwa's latest CN/HK mkt top pick list: Goertek (002241.SZ) GLODON (002410.SZ)** CBC (600132.SH) WuXi AppTec (603259.SH) LONGi (601012.SH) BYD (002594.SZ) SF Holding (002352.SZ) MENGNIU DAIRY (02319.HK)** TENCENT (00700.HK) SITC (01308.HK) DATANG RENEW (01798.HK) MEITUAN-W (03690.HK) HAIER SMARTHOME (06690.HK) SANDS CHINA LTD (01928.HK) **newly-added shares AAStocks Financial News |
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