HK blue chips forecast to head lower

Business | 18 Nov 2019 3:53 pm

Stanley Chik Yiu-fai, head of research at Bright Smart Securities & Commodities (1428), expects the benchmark Hang Seng Index to trade between 22,000 points and 30,000 points next year.

Chik said he is bullish on mobile phone gear makers and 5G concept stocks.

He said property managers would benefit from low policy risk and room for consolidation.

About 72 percent of retail investors have made an average return of less than 10 percent from security investments so far this year, according to a survey  by Bright Smart Securities between September and November involving over 3,000 retail investors.

About 38 percent of the respondents expected the downward trend of Hang Seng Index to continue to the first half of next year.


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