Golden Horse Capital: Predicting that the Hang Seng Index will fluctuate between 16,000 and 19,000 in the second half of the year. Seize the opportunity to pick up technology stocks for a rebound at a low level
Kenmare Capital Management's trading strategist Su Peifeng pointed out that in recent years, the correlation between US stocks and Hong Kong stocks has been low. The good news of interest rate cuts can only temporarily stimulate local property stocks and high-yield utilities in Hong Kong. The focus of the market continues to be on the Chinese economy. Su Peifeng estimates that the Hang Seng Index will fluctuate between 16,000 and 19,000 points in the second half of the year. He expects that the key focus of the market in August will still be on individual stock performance, but believes that there will not be any major surprises or catalysts. Therefore, he suggests accumulating technology stocks at the bottom of the range, speculating on rebounds and volatility in the short term, and continuing to bet on high-yield state-owned enterprises in the medium term, including China Mobile and the "Big Three Oil Companies". He estimates that these related stocks will continue to outperform the broader market. Su Peifeng also mentioned that the global semiconductor sector has high volatility, and a 20% drop from its peak is not uncommon. This may not necessarily be an indicator of a bear market. The recent downturn is mainly due to overly optimistic investor expectations, coupled with the broadening of the US stock market, with some funds flowing into US utilities. Therefore, Su Peifeng believes that the current adjustment in semiconductor stocks is just a normal sector rotation. He expects that semiconductor companies can still maintain their upward trend in the future
According to the information from Zhitong Finance APP, Su Peifeng, a trading strategist at Golden Horse Capital Management, pointed out that the correlation between US stocks and Hong Kong stocks in recent years is not high. The good news of interest rate cuts can only temporarily stimulate local property stocks and high-dividend utility stocks in Hong Kong. The focus of the market continues to be on the Chinese economy. Su Peifeng estimates that the Hang Seng Index will fluctuate between 16,000 and 19,000 points in the second half of the year.
Su Peifeng expects that the key focus of the market in August is still on individual stock performance, but believes that there will not be any significant surprises or catalysts. Therefore, it is recommended to accumulate technology stocks at the bottom of the range, speculate on rebounds for short-term gains, and continue to bet on high-dividend state-owned enterprises in the medium term, including China Mobile (00941) and the "Big Three Oil Companies". It is estimated that these related stocks will continue to outperform the broader market.
Su Peifeng also mentioned that the global semiconductor sector has high volatility, and a 20% decline from the peak is not uncommon. This may not necessarily be an indicator of a bear market. The recent downturn is simply due to overly optimistic investor expectations, coupled with the broadening of the US stock market, with some funds flowing into US utility stocks. Therefore, Su Peifeng believes that the current adjustment in semiconductor stocks is just a normal sector rotation. Su Peifeng believes that semiconductor companies can still maintain their upward trend in the future