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HSI Company: HK Mkt Currently Has Solid Fundamental & Low Valuation
Recommend 2 Positive 5 Negative 4 |
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Hang Seng Indexes Company published a blog titled "Hong Kong: Long-awaited Catalyst for Market Re-rating". According to the Company, as of 26 April, the Hong Kong stock market, represented by the Hang Seng Composite Index (HSCI), soared by 8.4% WoW. The optimism was triggered by the further collaboration between the Mainland and Hong Kong capital markets and enhancement on the Connect Scheme, evident by the earlier release of the CSRC’s five measures policy on 19 April. Given the solid fundamental and low market valuation, the turnaround of the Hong Kong market sentiment might be followed by the rerating in 2024, the Company believed. For exposure in the Hong Kong blue-chips, and further market re-rating, the HSI should be an excellent choice. For exposure in China, the HSCEI is the leading performance tracker of Hong Kong-listed mainland China companies. Currently, the Hong Kong market (represented by the HSCI) is trading at 9.2x forward P/E, below 1 standard deviation (SD) of the long-term average (HSI at 8.8x, HSCEI at 8.2x, both below 1SD). AAStocks Financial News |
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