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China expected to control nearly one third of world’s lithium supply by 2025 – research

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Chinese firms’ hiring intentions hit 8-year high, share of companies planning to increase investment hit highest since Oct 2021 – survey

The net balance measuring whether Chinese companies project an increase in headcount over the next 12 months was 11% in February, the highest level in eight years, according to a survey by S&P Global Market Intelligence, compared to only 2% in the previous survey conducted in October last year.

Macquarie raised target price of China Unicom, lowered rating from Outperform to Neutral

Macquarie said it’s positive about China Unicom’s strong performance in industry internet, which grew 29% in 2022 from the previous year and accounting for 20% of its total revenue.

JPMorgan raised forecast of Sinopec, PetroChina, CNOOC’s dividend payment ratio, hiked target prices

JPMorgan raised the forecast of Sinopec, PetroChina, and CNOOC’s dividend payout ratios to 80%, 60%, and 50%, respectively, from previous estimates of 75%, 45%, and 40%.

China’s proposed enlarged financial regulator will better tackle lingering issues – analysts

China’s proposed National Financial Regulatory Commission will better tackle lingering issues that threaten to destabilise the economy, ranging from a housing bubble to the unbridled expansion of financial conglomerates, said Goldman Sachs in a research note.

Goldman Sachs cut target price of HKEX, kept it on Conviction Buy list

Goldman Sachs cut target price of HKEX by 1% to HK$437 from HK$441, but kept it on Conviction Buy list.

BofA Securitises downgrades Chow Tai Fook to Underperform, cut target price

BofA Securities downgraded Chow Tai Fook, one of the world’s largest jewellery retailers, from Neutral to Underperform, and cut its target price from HK$17.6 to HK$13.2.

Foreign corporate investment into China is expected to rebound this year, capital inflows to China stock market to reach 300 billion yuan – UBS

Foreign corporate investment into China is expected to rebound this year, as economic uncertainties in the country have eased significantly this year, along with the reopening and resumption of staff exchanges, said Wang Tao, Chief China Economist at UBS.

Chances are high for China to meet or exceed growth target this year – former PBOC official

Chances are high that China will meet or exceed its relatively modest economic growth target for this year, said Sheng Songcheng, a former head of the statistics and analysis department at the People’s Bank of China.

UBS raised forecast of China’s 2023 economic growth to 5.4%

UBS raised its forecast for China’s economic growth this year to 5.4%, higher than its previous estimate of 4.9%, according to a research note released on Monday.

Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating

Morgan Stanley expects China’s seasonally adjusted real GDP to grow by about 7.5% in Q1 on quarter

Morgan Stanley expects strong rebound in Chinese economy in the first quarter of 2023, saying that the country’s seasonally adjusted real GDP is expected to grow by about 7.5% from the previous quarter.

Morgan Stanley sees over 80% chance for China Telecom, China Unicom shares to rise in next 60 days

There is more than 80% chance for China Telecom’s Hong Kong-listed share price to gain in the next 60 days, with target

The Hang Seng Indexes Company has announced the results of the latest review on the constituent stocks of the Hang Seng Indexes.
Huatai Securities believes that 29 stocks may be added to the Southbound trading of the Mainland – Hong Kong Stock Connect schemes.

Goldman Sachs slightly cut China Mobile’s target price, raised target prices for China Unicom, China Telecom

Goldman Sachs forecast a stable revenue growth of 7% – 8% and an EBITDA uptick of 6% – 8% for China’s three major telecom operators – China Mobile, China Telecom and China Unicom

UBS remains optimistic about China’s economic outlook, prefers Chinese, EM stocks

Despite the recent consolidation in China’s stock market, UBS remains optimistic about its economic outlook and maintains preference for Chinese and emerging

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Nomura raised forecast of China’s GDP growth in 2023 to 5.3%

China’s economy is expected to expand 5.3% in 2023, Nomura said in a note, higher than its previous forecast of 4.8%.

About 60% of auto dealers in China largely achieved 2022 sale targets, 62.3% raised 2023 targets – industry body

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China’s NEV wholesale volume expected to reach 1.5 mln units in Q1, penetration to reach 39% in 2023 – research

China’s wholesale sales of NEVs are expected to reach 1.5 million units in the first quarter of 2023 and are on track

The escalating tensions between China and the US may dampen investor sentiment and induce short-term market volatility, Morgan Stanley said in a note.

Chinese property developers’ 2022 earnings to hit five-year low – research

Chinese property developers’ 2022 earnings are expected to hit five-year low, with sector’s core earnings sinking 57% from the previous year, according to estimates by Citi Research.

Jefferies slightly raised target price of Tencent, Meituan on strong performance during new year holidays

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CICC remained constructive on Hong Kong stocks, focuses on internet, healthcare stocks

The China International Capital Corporation remained constructive on Hong Kong stocks and said that the rally started from November 2022 is now

ING Bank raised the forecast of China’s GDP growth in 2023 to 5% from its previous projection of 4.3%, according to a research note.

China’s new bank loans expected to hit new record high in January – research

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UBS cut Brent crude forecast for 2023 to $90 from $95, expects oil demand to return to 2019-level this year

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China’s policy to boost property demand less effective than those support developers’ liquidity – Moody’s

Chinese government policies aimed at stimulating property demand have been less effective than measures supporting property developers’ liquidity needs, rating agency Moody’s said in a report.

Goldman Sachs removed BOC Hong Kong from Conviction Buy list, downgraded Standard Chartered, Hang Seng Bank

Hong Kong banks outstripped the Hang Seng Index during the current rate-hike cycle, painting a stark contrast to the two previous rate

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Category: VIEWS & ANALYSIS