Equity markets across the globe are rallying to all time highs while the Hang Seng was left behind to play 'catch up'.
The bullish catalyst being the Chinese stock connect program connecting Hong Kong -> Shanghai started an initial rally in early April sending the index up 16% in just over a week. This has broken the index out of its 6 year channel and has initiated the start of its bull run.
I expect this run to continue as fundamentally the Hang Seng has a low P/E (~12 FYE), and the mainland Chinese will continue to find value in this Island nation.
My price target is set to ~32000 over the next year, with a stop loss of just under 27000.
The bullish catalyst being the Chinese stock connect program connecting Hong Kong -> Shanghai started an initial rally in early April sending the index up 16% in just over a week. This has broken the index out of its 6 year channel and has initiated the start of its bull run.
I expect this run to continue as fundamentally the Hang Seng has a low P/E (~12 FYE), and the mainland Chinese will continue to find value in this Island nation.
My price target is set to ~32000 over the next year, with a stop loss of just under 27000.