Anti-government protesters set fire to the toll gates of the Cross-Harbour Tunnel, on November 14. The months-long violence is likely to affect Hong Kong stock market’s fortunes next year. Photo: AP Photo

Hang Seng Index to underperform China-linked equity benchmarks next year: Morgan Stanley

  • Hang Seng Index will probably end 2020 at 27,500, representing a 1.5 per cent gain from the current level, Morgan Stanley says
  • Morgan Stanley cuts the rating on Chinese onshore stocks, citing slower pace of foreign buying and less appealing valuation
Topic |   Hang Seng Index

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Anti-government protesters set fire to the toll gates of the Cross-Harbour Tunnel, on November 14. The months-long violence is likely to affect Hong Kong stock market’s fortunes next year. Photo: AP Photo
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US-China trade tariffs remain a key uncertainty which will determine the speed and size of the earnings recovery, according to UBS. Photo: Reuters

UBS: Investors should prepare for ‘low returns’ in 2020 as US-China trade war uncertainty weighs on growth

  • Growth likely to pick up in second half of 2020, according to UBS Asia-Pacific strategist Niall MacLeod
  • Equity valuations gains are likely to be capped at ‘modest’ 7 per cent, MacLeod says
Topic |   Investing

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US-China trade tariffs remain a key uncertainty which will determine the speed and size of the earnings recovery, according to UBS. Photo: Reuters
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