---
title: "STANCHART: Chinese stock market valuation is already very low, optimistic about non-essential goods and technology sectors."
description: "Chinese stock market valuation is currently very low, and STANCHART is optimistic about the non-essential goods and technology sectors. STANCHART has also given an \"overweight\" rating to the communica"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/105388816.md"
published_at: "2024-01-04T06:34:13.000Z"
---

# STANCHART: Chinese stock market valuation is already very low, optimistic about non-essential goods and technology sectors.

> Chinese stock market valuation is currently very low, and STANCHART is optimistic about the non-essential goods and technology sectors. STANCHART has also given an "overweight" rating to the communication and non-essential goods sectors in China, and raised the rating of the technology sector to "overweight". In addition, STANCHART has raised the ratings of the health management and utilities sectors to "neutral". STANCHART believes that there are still uncertainties in mainland China's policies, but it is expected that the US interest rate hike cycle will end in the next 12 months, and the rate adjustment will support Hong Kong property stocks. STANCHART expects the US dollar to depreciate moderately, and anticipates that the US dollar will fluctuate narrowly in the next 3 months.

Zhitong App learned that Stanley Chong, Chief Investment Officer of Standard Chartered North Asia, said that the performance of Hong Kong stocks last year was affected by factors such as the rate hikes by the Federal Reserve, and there are still uncertainties in mainland China's policies. It is expected that the US rate hike cycle will end in the next 12 months, and the current negative factors are fewer than last year. The rate adjustment will also support Hong Kong property stocks and the performance of the Hang Seng Index. It is recommended to maintain an "overweight" position in mature market government bonds and raise the overall view of global stocks to "overweight". The valuation of the Chinese stock market is already very low, so a "neutral" allocation is given to Chinese stocks. The communication and non-essential goods sectors in China are given an "overweight" rating, and the rating of the technology sector is raised to "overweight". In addition, the ratings of the healthcare management and utilities sectors are raised to "neutral".

Chong said that although there have been positive news for mainland property developers in the past month or two, the problem of lack of cash flow for developers has not been fully addressed. It is expected that measures targeting developers will be taken in the future, which is expected to greatly boost the market.

Chen Zhengluo, Senior Investment Strategist at Standard Chartered Hong Kong Wealth Management, said that the US dollar is expected to depreciate moderately, and it is expected that the US dollar will fluctuate narrowly in the next 3 months. The market has already reflected expectations of interest rate cuts. With the further slowdown of the US economy, the US dollar may moderately decline in the next 6-12 months. The target for the US dollar index in the next 3 months is 102, and in the next 12 months it is 100. The euro, Australian dollar, and Japanese yen may become the main beneficiaries of the weakening US dollar. Japan may tighten monetary policy in the first quarter, supporting the narrowing of the US-Japan interest rate differential. It is expected that the USD/CNY exchange rate will reach 7.16 in the next 3 months, and 7 in the next 12 months.

### Related Stocks

- [02888.HK - STANCHART](https://longbridge.com/en/quote/02888.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 机构 “最超配” 闪迪，“最低配” 英伟达 | 据摩根士丹利最新的统计：“机构对美国大型科技股的低配程度是 17 年来最大的” 相比 2025 年 Q4 的标普 500 指数权重，“$NVDA 仍然是机构低配程度最大的大型科技股，其次是苹果、微软、亚马逊和博通，而存储巨头闪迪则是 “最超 | [Link](https://longbridge.com/en/news/276289765.md) |
| 科尔黛伦矿业｜8-K：2025 财年营收 20.7 亿美元不及预期 |  | [Link](https://longbridge.com/en/news/276276682.md) |
| 黄仁勋预告 “前所未见” 的芯片新品，下一代 Feynman 架构或成焦点 | 黄仁勋预告今年的 GTC 大会上发布” 世界从未见过” 的全新芯片产品，分析认为新品可能涉及 Rubin 系列衍生产品或更具革命性的 Feynman 架构芯片，市场预期 Feynman 架构将针对推理场景进行深度优化。 | [Link](https://longbridge.com/en/news/276310964.md) |
| 英格索兰｜10-K：2025 财年营收 76.51 亿美元超过预期 |  | [Link](https://longbridge.com/en/news/276172246.md) |
| Meta 加码英伟达：未来数年部署数百万颗芯片，首次采用 Grace CPU | 根据周二发布的声明，Meta 承诺将使用更多来自英伟达的 AI 处理器和网络设备。同时，Meta 还将首次在其独立计算机的核心部件采用英伟达的 Grace CPU。此次部署将涵盖基于英伟达当前 Blackwell 架构，以及即将推出的 Ve | [Link](https://longbridge.com/en/news/276177748.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.