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BEA Targets 30,800 for HSI by End-2026, Estimates 3-4 US Rate Cuts
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This year, it is likely that the global market will become more accommodative, with most economies experiencing lower interest rates, said Ng Wing-keung, the Bank of East Asia (BEA) Wealth Management's Investment Strategist. In Ng's estimate, the US will cut rates 3-4 times this year due to a persistently weak job market and declining inflation, coupled with the fact that the current popular candidates for the Federal Reserve Chair are leaning dovish. For H- and A-shares, Chan Wai-chung, BEA Wealth Management's Senior Investment Strategist, targets the HSI at 30,800 by end-2026, with corporate earnings expected to rise by 13% YoY. He recommends focusing on China's AI, automotive and smart driving supply chains, Chinese telecommunications, local landlords, and transportation sectors. AAStocks Financial News |
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