Asia / Hong Kong

Hong Kong

Group Research / February 01, 2020

Photo Credit - AFP

Hong Kong
 20192020f2021f2022f
GDP growth, % YoY-1.2-6.16.02.3
CPI inflation, % YoY2.90.32.02.5
 2Q213Q214Q211Q222Q22
Exchange rates, end of period7.767.777.777.787.79
Policy interest rates, end of period

Hong Kong Industry Insights

Hong Kong / Industrials
China/Hong Kong Ports: Room to re-rate

China/Hong Kong Ports: Room to re-rate

May 06, 2021

We expect the pick-up in global economic activity to drive recovery in the China/Hong Kong ports sector. And we see further upside to our target pric...

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Hong Kong / Financials
Hong Kong Banks: ROE enters expansion cycle

Hong Kong Banks: ROE enters expansion cycle

April 28, 2021

We revised up Hong Kong banks’ earnings with growth at 12-16% in FY21F and 10-13% in FY22F, higher than consensus forecast. Find out why.

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Hong Kong / Real Estate
Hong Kong Property Sector (Residential): Steady amid challenges

Hong Kong Property Sector (Residential): Steady amid challenges

February 01, 2021

Despite the deteriorating economic environment led by the prolonged pandemic, resilient local end-user demand should continue to support Hong Kong&rs...

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Hong Kong Economics Insights

Hong Kong / GDP
Hong Kong: Upward revision of HK outlook

Hong Kong: Upward revision of HK outlook

May 04, 2021

Assuming the border can be gradually re-opened by end of 2Q / early 3Q, the GDP forecast is upward revised from 4.0% to 6.0%.

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Hong Kong / GDP
Hong Kong: Cautiously optimistic outlook

Hong Kong: Cautiously optimistic outlook

February 01, 2021

The recovery of consumption and tourism sector will hinge crucially on the vaccine rollout.

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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 Economics Daily

Hong Kong / Interest Rate
HKD Rates: IPOs, issuances & global recovery

HKD Rates: IPOs, issuances & global recovery

February 08, 2021

The HKD interest rates curve will likely steepen further in tandem with US (and DM curves) over the course of the year.

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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 Equities

Hong Kong / Equity Picks
Hong Kong Equity Picks

Hong Kong Equity Picks

May 04, 2021

Betting on inflationary beneficiaries

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Hong Kong / Equities
China/HK Market: Complacency towards inflation a risk?

China/HK Market: Complacency towards inflation a risk?

May 03, 2021

Although we continue to be bullish on the Hong Kong market in the long term, near-term risk regarding inflation should not be ignored. Find out why a...

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Hong Kong / Equities
China/HK Market Pulse: Stay in cyclical recovery

China/HK Market Pulse: Stay in cyclical recovery

April 07, 2021

As we are currently at the early stage of the interest rate cycle in Hong Kong, we prefer cyclical recovery plays over defensives. Find out what othe...

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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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