Asia / Hong Kong

Hong Kong

Group Research / February 01, 2020

Photo Credit - AFP

Hong Kong
 20192020f2021f2022f
GDP growth, % YoY-1.2-6.14.02.3
CPI inflation, % YoY2.90.32.02.5
 2Q213Q214Q211Q222Q22
Exchange rates, end of period7.767.767.777.777.78
Policy interest rates, end of period

Hong Kong Industry Insights

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 / Financials
HK Banking Sector: The worst is behind us

HK Banking Sector: The worst is behind us

January 20, 2021

We believe the worst is behind Hong Kong’s banks and expect their earnings to rebound by 4-7% y-o-y in FY21F.

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Hong Kong / Real Estate
HK Property Sector (Office and Retail): Wax and Wane

HK Property Sector (Office and Retail): Wax and Wane

January 14, 2021

We see more downside for Hong Kong’s office sector while the worst should be behind the retail sector. Find out which players are poised to do ...

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Hong Kong Economics Insights

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 / 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 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 / 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
China/HK Market Pulse: Southbound inflow to slow

China/HK Market Pulse: Southbound inflow to slow

February 05, 2021

We expect southbound fund flows into the Hong Kong market to slow going forward, but it should remain at a higher level than previous years, which bo...

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Hong Kong / Equities
Hong Kong 2021 Strategy: Getting back on track

Hong Kong 2021 Strategy: Getting back on track

January 05, 2021

As vaccine developments ease fears, the rise in global risk appetite bodes well for the underperforming Hong Kong market.

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Hong Kong / Equities
Risk rally in Hong Kong set to continue into 2021

Risk rally in Hong Kong set to continue into 2021

December 04, 2020

Given the inexpensive valuation and relatively underperformance of the Hong Kong market versus the US market and A-shares, we believe the risk rally ...

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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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