HSBC Liu Shaowen: Hong Kong stocks have not yet reached a good entry point; all three market consensus expectations have fallen short. The current valuation is not cheap.

SighingCashier · 2026-03-29T19:07:28+00:00

HSBC's Liu Shaowen stated that the market predictions for Hong Kong stocks at the beginning of the year have not materialized, and the Hang Seng Index has failed to break through 30,000 points. The three major consensus have fallen short. He believes that the current valuation of Hong Kong stocks is still not cheap enough, implying that investors should remain cautious and observe carefully.

SighingCashier

2026-03-29 19:07:28

Abstract generation in progress

March 30, 2026

Interview




HSBC’s Lau Siu Man: Hong Kong stocks have not yet reached a good opportunity to buy in  
All three major market expectations missed; current valuations are not cheap

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At the start of the year, markets broadly expected the Hang Seng Index to powerfully break through the 30,000-point level, driven by technology stocks. Unfortunately, after it approached the 28,000-point threshold in late January, momentum failed to continue. Liu Siu Man, Head of Investment Strategy for Asia at HSBC Financial Services, told this newspaper in an interview that the market consensus at the beginning of each year is often prone to errors. Earlier this year, the three major “crowded” expectations—including the Hang Seng Index rising above 30,000 points, the U.S. dollar weakening, and gold and silver continuing to rally—have all turned out differently. However, Hong Kong stocks’ current valuations have not yet fallen to a sufficiently cheap level…

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