DBS Bank lowers HSI year end target to 26,050

Business | 19 Aug 2019 3:56 pm

DBS Bank forecasts the Hang Seng Index to trade at 26,050 points by year end if the political unrest is resolved by October, compared with its previous 27,140 points prediction.

Dennis Lam Che-jung, equity strategist of HK/China Small Mid Caps, at DBS Bank, said the investor sentiment was more impacted by the Sino-US trade tensions and the weakness of the yuan than protests.

DBS is overweight shares of mainland educational operators, developers and Hong Kong telecoms. DBS says local developers are undervalued.

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