Asia / Hong Kong

Hong Kong

Group Research / February 01, 2020

Photo Credit - AFP

Hong Kong
 201820192020f2021f2022f
GDP growth, % YoY2.8-1.2-7.04.02.3
CPI inflation, % YoY2.42.90.72.02.5
 4Q201Q212Q213Q214Q21
Exchange rates, end of period7.767.767.767.777.77
Policy interest rates, end of period

Hong Kong Industry Insights

Hong Kong / Consumer
Strong growth at home and abroad

Strong growth at home and abroad

November 06, 2020

Both Midea and Haier Smart Home logged sales growth in overseas markets in 3Q20, benefitting from overseas supply chain disruption. And we expect thi...

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Hong Kong / Real Estate
Mass market launches shrug off pandemic worries

Mass market launches shrug off pandemic worries

October 30, 2020

With social-distancing measures easing, Hong Kong developers are taking the chance to launch more new residential projects. And the homebuyers’ respo...

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Hong Kong / Real Estate
Remain cautious on Hong Kong-based retail landlords

Remain cautious on Hong Kong-based retail landlords

September 30, 2020

Although the Hong Kong retail market is showing some green shoots as the COVID-19 pandemic starts to stabilise, we remain cautious on the sector.

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Hong Kong Economics Insights

Hong Kong / Economics & Strategy
Hong Kong: Upgrading the 2021 outlook

Hong Kong: Upgrading the 2021 outlook

October 21, 2020

The rebound of asset prices and economy will hinge crucially on the development of COVID and the relaxation of immigration policies.

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Hong Kong / Inflation
Hong Kong Chartbook: Deflation is unlikely to linger

Hong Kong Chartbook: Deflation is unlikely to linger

September 02, 2020

The risk of another prolonged deflationary cycle like the one over 1998-2004 is unlikely due to the ultra-low interest rate environment.

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Hong Kong / GDP,Export,Retail
Hong Kong: Longest recession ever

Hong Kong: Longest recession ever

July 30, 2020

Real GDP growth came in at -9.0% YoY in 2Q, almost as weak as the -9.1% in 1Q.

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Hong Kong Economics Daily

Hong Kong / Growth
Chart of the Week: Hong Kong’s retail sales and tourism downturn

Chart of the Week: Hong Kong’s retail sales and tourism downturn

August 19, 2019

We are concerned that weakening of retail sales momentum could eventually feed through to commercial rental and the broader economy.

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Hong Kong / Economics
Hong Kong chart book - Gradual improvement in the making

Hong Kong chart book - Gradual improvement in the making

May 06, 2019

The real GDP grew by 0.5% YoY in 1Q19, the slowest growth since 3Q09. Yet, it should improve alongside gradual stabilization of the mainland economy.

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Hong Kong Equities

Hong Kong / Equities
Clearer skies ahead in Hong Kong

Clearer skies ahead in Hong Kong

November 11, 2020

Given the inexpensive valuation and relative underperformance of the Hong Kong market versus the US market and A-shares, risk appetite should improve...

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Hong Kong / Equities
Hong Kong Market Pulse: Staying on the sidelines

Hong Kong Market Pulse: Staying on the sidelines

October 09, 2020

After the rebound in 2Q20, the Hong Kong market has mostly been rangebound between 24,000-25,000. We believe cautiousness will persist ahead of the U...

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Hong Kong / Equities
Hong Kong Strategy: Waiting for clearer skies

Hong Kong Strategy: Waiting for clearer skies

September 04, 2020

Fears of escalating US-China tensions ahead of the US presidential elections will likely cap near-term upside on the Hang Seng Index. We outline whic...

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Disclaimers and Important Notices

The information herein is published by DBS Bank Ltd and PT Bank DBS Indonesia (collectively, the “DBS Group”). It is based on information obtained from sources believed to be reliable, but the Group does not make any representation or warranty, express or implied, as to its accuracy, completeness, timeliness or correctness for any particular purpose. Opinions expressed are subject to change without notice. Any recommendation contained herein does not have regard to the specific investment objectives, financial situation & the particular needs of any specific addressee. The information herein is published for the information of addressees only & is not to be taken in substitution for the exercise of judgement by addressees, who should obtain separate legal or financial advice. The Group, or any of its related companies or any individuals connected with the group accepts no liability for any direct, special, indirect, consequential, incidental damages or any other loss or damages of any kind arising from any use of the information herein (including any error, omission or misstatement herein, negligent or otherwise) or further communication thereof, even if the Group or any other person has been advised of the possibility thereof. The information herein is not to be construed as an offer or a solicitation of an offer to buy or sell any securities, futures, options or other financial instruments or to provide any investment advice or services. The Group & its associates, their directors, officers and/or employees may have positions or other interests in, & may effect transactions in securities mentioned herein & may also perform or seek to perform broking, investment banking & other banking or finan­cial services for these companies. The information herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Sources for all charts & tables are CEIC & Bloomberg unless otherwise specified.

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