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2026-02-13 10:20:48 After consolidating the GDP targets of various Chinese provinces, Daiwa derived an "implied" national GDP target of 5% for 2026, the broker said in a report. Based on past experience, this pointed to a more conservative "official" target of 4.5-4.7%. In this context, if China's "Two Sessions" on March 5 sets the 2026 GDP target at around 5%, it may imply that stronger economic stimulus measures are forthcoming. The fiscal stimulus was expected to target fixed asset investment, consumption, and real estate. Daiwa noted recent market turmoil and reiterated its optimistic outlook for the Chinese stock market in 1H26, with the stimulus policy season potentially extending into April. Although the likelihood of large-scale stimulus policies remains low, the introduction of gradual stimulus measures and strong policy assurances can boost investment sentiment in the short term, benefiting Daiwa's top picks, including CHINA RES LAND (01109.HK) and MIDEA GP (000333.SZ). Due to robust downstream demand driving price increase expectations, Daiwa added LAOPU GOLD (06181.HK) and KINGSOFT CLOUD (03896.HK) to its top picks, replacing the previous top picks of SHENZHOU INTL (02313.HK) and TRIP.COM-S (09961.HK). ~ AASTOCKS Financial News Website: www.aastocks.com | |