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Standard Chartered Cuts Hang Seng Index 12-Month Target to 25,500–26,500 Points

GateNews
IndicesForex
HK50-0.12%
HSCHKD-1.83%
According to Standard Chartered's Chief Investment Office, the bank cut its 12-month target for the Hang Seng Index to 25,500–26,500 points on June 25, from the previous 28,000–29,000 points. Chief Investment Officer of North Asia Geoffrey Cheng cited stronger-than-expected U.S. employment data as the primary driver. The bank raised its 12-month U.S. dollar index target to 98 from 96, and lifted its 10-year Treasury yield target to 4.25%–4.5% from 3.75%–4%. Middle East geopolitical tensions and potential liquidity impacts from major U.S. IPOs also contributed to the downgrade. The bank noted that rapid resolution of regional conflicts and restored oil transport could see the index return to 28,000–29,000 points.
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