Swiss Prosperity Zhen Junjie: Overall fundamentals are improving, and the attractiveness of Hong Kong stocks is gradually returning.
Recently, Mr. Zhen Junjie, CEO and Chief Investment Strategist of Swiss EFG Bank, stated that the direction of the Chinese economy is the most crucial factor for the overall market. The central government has already started to address the risks of local debt platforms, and the overall fundamentals are improving.
Zhitong App learned that recently, Zhen Junjie, Managing Director and Chief Investment Strategist of Swiss EFG Bank, stated that the direction of the Chinese economy is the most crucial factor for the overall market. The central government has started to resolve the risks of local debt platforms, and the overall fundamentals are improving. The technology cycle is also bottoming out in the fourth quarter to the first quarter of next year, driving the improvement of China's exports and benefiting corporate profits. The Hang Seng Index has been testing the year's low point this quarter, and if there is no major negative news, coupled with the improvement of the three restraining factors, the attractiveness of the stock market is gradually returning.
In terms of interest rates, Zhen Junjie said that US data shows that the economy will slow down, and interest rates are expected to peak. It is expected that the renminbi exchange rate will not be too weak. In addition, US stocks are not cheap. As US interest rates and the US dollar peak, investors may reconsider emerging markets.
He believes that the positions of most foreign investors in the Chinese and Hong Kong stock markets are relatively low. The recent strengthening of the renminbi to the 7.21 level may be a sign that foreign investors are paying attention to Chinese stocks again, further indicating the need to continue to observe the trend of the renminbi, and he believes that it is currently a good time to gradually accumulate positions.