Golden Ten Data News on June 17th, CICC released a Hong Kong stock strategy report stating that the Hong Kong stock market fell again last week, and has fallen nearly 10% from its high point. Since mid-April, the market's upward trend has been mainly driven by improvements in the capital side and risk appetite. In the absence of significant changes in the fundamentals, this capital nature and rebound-driven characteristic will make the market face certain profit-taking pressure after a short-term overbought situation. Therefore, the bank has continuously reminded investors since early May that the market has approached the first stage target level, which is around 19,000 to 20,000 points of the Hang Seng Index, corresponding to the level of risk premium falling to the market high point in early 2023. The bank believes that unless further motivation is provided by a drop in risk-free interest rates or a significant improvement in profits, the market will face certain profit-taking pressure. Since mid-May, the market trend has also been as expected by the bank and has experienced a callback, but CICC believes that unless extreme situations occur, the market will not give up all of its gains, after all, policy marginal changes, overseas capital inflows, and valuation repairs are all real improvements. The bank previously judged that after the market gradually returns to reality and fundamentals, it may fluctuate and consolidate around 18,000 points of the Hang Seng Index, waiting for more new catalysts, which has been validated by last week's market performance.
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中金: Daha fazla katalizör ortaya çıkmadan önce Hang Seng endeksi 18000 seviyesinde sarsılabilir.
Golden Ten Data News on June 17th, CICC released a Hong Kong stock strategy report stating that the Hong Kong stock market fell again last week, and has fallen nearly 10% from its high point. Since mid-April, the market's upward trend has been mainly driven by improvements in the capital side and risk appetite. In the absence of significant changes in the fundamentals, this capital nature and rebound-driven characteristic will make the market face certain profit-taking pressure after a short-term overbought situation. Therefore, the bank has continuously reminded investors since early May that the market has approached the first stage target level, which is around 19,000 to 20,000 points of the Hang Seng Index, corresponding to the level of risk premium falling to the market high point in early 2023. The bank believes that unless further motivation is provided by a drop in risk-free interest rates or a significant improvement in profits, the market will face certain profit-taking pressure. Since mid-May, the market trend has also been as expected by the bank and has experienced a callback, but CICC believes that unless extreme situations occur, the market will not give up all of its gains, after all, policy marginal changes, overseas capital inflows, and valuation repairs are all real improvements. The bank previously judged that after the market gradually returns to reality and fundamentals, it may fluctuate and consolidate around 18,000 points of the Hang Seng Index, waiting for more new catalysts, which has been validated by last week's market performance.