Financial News
Written by: Zhang Weilun
2020-11-11 19:05
Last update date: 2020-11-11 19:05
Pfizer announced on Monday (9th) that the vaccine being developed has an effective rate of 90%, and it is expected to apply for authorization from US regulators at the end of the month to trigger the exchange of funds in the global market to old economic stocks.
Credit Suisse issued a report that raised the bank stocks from "underweight" to "overweight" and strengthened its view of "overweight" in real estate stocks.
In addition, the bank upgraded the ratings of the Hong Kong and Thailand markets from "synchronized with the market" to "overweight."
Credit Suisse pointed out that Thailand's tourism industry accounts for its economic share, which is the highest among Asian economies; while real estate stocks account for a considerable proportion of Hong Kong stocks, including tourism-oriented gaming stocks.
The successful introduction of vaccines in the future will benefit both markets.
The bank lists Singapore, Thailand and Hong Kong as the best value markets.
As for the markets of China, India, and Japan, the bank has given a rating of "Reduce" because the above markets have opened up tourism and have a relatively low share of exports, or they may have a negative impact after reopening.
The bank also pointed out that the Chinese, Indian, and Japanese markets have performed relatively strong this year.
Optimistic about SHKP and Link
Credit Suisse also talked about the banking industry and pointed out that the industry structure has not changed, but the current valuation is quite low, and there is an investment opportunity to repair the valuation.
The bank pointed out that interest rates will still be at an ultra-low level in the next one to two years, so it lists real estate stocks as the largest “overweight” industry in its indicators, and also expressed its optimism about SHKP (0016) and Link (0823).
As for technology stocks, Credit Suisse renewed its “overweight” rating for technology stocks in the Asia-Pacific region, pointing out that the industry has strong structural growth, which is attractive compared to global peer valuations.
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