HSBC's Global Private Banking chief investment officer has expressed a positive view on most Asian equities for the balance of the year.
Says that Asia remains the most important growth engine of the global economy, citing both GDP and earnings growth for Asia ex-Japan (for 2024):
- 4.6% and 23% respectiveely
Overweight:
- equities in Japan, India, South Korea
Neutral:
- Hong Kong & mainland China
China's debt-ridden property sector remains a heavy weight