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<Research>HSBC Research Raises Yr-End Target for HSI to 25,830
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The Chinese market is entering a new phase with rising P/E multiples, but earnings upgrades will be needed to sustain the rally, HSBC Global Research wrote in its report. The broker remained overweight mainland China, Hong Kong, and Indonesia. It also updated its index targets for the end of 2025. As indicated by HSBC Global Research, the rebound in the Chinese market was concentrated among tech stocks as over 50% of capital inflowing into the Chinese stock market went into areas related to DeepSeek. However, such rallies often expand from one sector to other sectors gradually. It is also worth noting that foreign investors are still sitting on the sidelines, domestic households are holding substantial cash, industries are consolidating, and companies are increasing dividend payouts and conducting share buybacks. HSBC Global Research raised its year-end target for the HSI from 23,870 to 25,830 and for the HSCEI from 8,800 to 9,620. AAStocks Financial News |
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