Benchmark to test 31,000

Business | 22 Jun 2021 6:41 pm

The Hang Seng Index may test 31,000 again in the second half of this year, a brokerage said.

Everbright Sun Hung Kai also forecast the Hang Seng China Enterprises Index at 11,800 in the second half, with the full-year target of the Shanghai Composite at 3,750.

EBSHK Securities strategist Kenny Ng Lai-yin, said the key theme for Hong Kong stocks in the second half is expected to continue the first half’s valuation re-rating.

New and old economy stocks may take turns to stand out while cyclical stocks may show signs of a slowdown.

Kenny Wen Kit, wealth management strategist, said second half market trends are shaped by China or U.S. inflation, global monetary policy, and uneven pandemic and recovery around the world. He expects China’s 2021 GDP growth to reach 9.1 percent.


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