Written by: Zhai Ziqian
2019-12-11 17:01Last updated: 2019-12-11 17:02
It will end in 2019 on the 20th. For investors, as long as they avoid the Hong Kong stock market, it is not difficult to achieve the desired results. So what is the situation of investing in the market next year? HSBC Global Investment Management released its 2020 investment outlook, which believes that the outlook is relatively good, and global economic growth has slowed down, but has stabilized. The bank emphasized that market risks are not inevitable for investors and called on investors to choose assets carefully.
Dominic Bryant, senior macro strategist at HSBC Global Investment Management, said that global inflation will continue to be low in 2019, allowing governments to focus on economic growth through monetary easing. He expected that the fiscal policy might be strengthened and the global economy is expected to maintain stable growth in 2020.
Dominic Bryant believes that the Fed adopts easing policies in response to low inflation, while core US inflation is still below 2%, and there is room to slowly move towards the inflation target. He further pointed out that the growth of US earnings has strengthened since the beginning of 2019, and that the global economy is expected to grow steadily and slowly in the future.
Asian companies expect double-digit profit growth next year
Sanjiv Duggal, director of HSBC Global Investment Management and head of the Asian and Indian Equities Division, said that the profit growth forecast for Asian stocks in 2020 will rise from low single-digit levels in 2018 and 2019 to 10% to 15%, and Support the growth of dividend yield. He believes that earnings growth will be dominated by China, India, Indonesia, South Korea and Taiwan, which will help narrow the gap between the valuation of Asian stocks and mature market stocks.
Mei Lizhong, head of Asia Credit Investment at HSBC Global Investment Management, said that Asian credit ratings in emerging markets are higher and are more sought after by investors focused on investment-grade bonds. He also pointed out that the negative interest rate factor and the gradual recovery of the economy have made Asian bond investment sought after, and there is scope for narrowing credit spreads.
Mei Lizhong believes that, although outsiders are worried about the default risks of private enterprises in the Mainland, benefiting from improved liquidity in the onshore market, Asian high-yield bonds are still attractive, and they point out that there is no risk of systemic explosion of credit in the Mainland, emphasizing that prudent investment is strategic The essential.
Investment and wealth management strategy bonds / bond investment