0642 GMT - Hong Kong's Hang Seng Index is likely to consolidate between 18500 and 20000 in the near term, according to CCB International analysts Cliff Zhao and Wilson Zou in a research note. They say that Hong Kong market has technically entered a bull market. A combination of policy tailwinds, especially the key political meeting Third Plenary Session in July, along with improvements in macroeconomic fundamentals, will be needed to support a break above 20000 in the third quarter. They continue to recommend sectors including internet, hardware, consumer and manufacturing related to overseas expansion. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
June 05, 2024 02:42 ET (06:42 GMT)
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