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<Research>Haitong Int'l: Allocation Opportunities after LNY; First Blue Chips, Then Techs
Recommend 61 Positive 94 Negative 35 |
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Market will stagnate in short term despite multiple positives, with better allocation opportunities still after the Spring Festival when the market seeks trough again, Haitong International said in a report. Sector-wise, the broker was more concerned about the near term preferences of insurance funds, and oversold blue chips, such as consumers, which may attract insurance funds deployment. As technology sector has seen signs of stagnation, the broker advised patience for the opportunities of allocation after the pullback. Haitong International expected last week the market to face the pressure of contraction and rebound, and the sector to shift from techs to financials. The HSI swelled 2.5% last week under RMB appreciation; and the Shanghai Composite Index bottomed out and ticked up 0.3%. This showed Hong Kong stocks fared better. Previously, the broker suggested that the USD Index began to retreat after Donald Trump took office in his first term, and the trend after his second office this time gradually developed in the expected direction, i.e., the USD Index ebbed back and the RMB-USD interest rate spreads narrowed. Compounded with moderate tariff expectations, entry of medium and long-term capital and other favorable factors, positive market factors are accumulating, which continue to support the broker's bullish view of the market in 1H25. Haitong International suggested waiting for allocation opportunities after the Spring Festival. AAStocks Financial News |
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