Investment bank forecasts HSI at 24,400 by end June

Business | 18 Nov 2019 4:56 pm

Morgan Stanley predicted that the Hang Seng Index will reach 24,400 points by end June next year and 27,500 points at year end.

The investment bank estimates that Hong Kong's economy will inch up by 0.5 percent next year in real terms and grow by 2 percent in 2021, and the inflation rate will peak in the first quarter next year, affected by increasing prices of pork and other food in China.

However, it warns that the local economy may contract 3.5 percent next year if the trade talks between China and the United States deteriorate and the social unrest continues.

Morgan Stanley also expects property prices in Hong Kong to fall by about 10 percent from the peak in June, due to the gloomy sentiment in the real estate and retail sectors.


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