Morgan Stanley lowered the target of mainland China and Hong Kong stock indexes

Based on the decline in China's economic growth forecast, Morgan Stanley has lowered the goal of major stock indexes in mainland China and Hong Kong within three months.

According to Bloomberg, a research report on Morgan Stanley on Thursday (August 24) shows that the bank has reduced the basic context of MSCI in June next year to 6014%.The report shows that under the "Bear Case" that the bank believes, the index may fall further to 40 points.

Morgan analysts Laura Wang and Jonathan Garner wrote in the research report that the target of stock indexes was related to Morgan Stanley's recent decline in China's current and next year's economic growth.

Analysts wrote in the report that the pressure of corporate profits was increased by the risk of real estate industry, high local bonds, tightening of currency, and delayed government stimulus measures.The hypothetical hypothetical hypothetical hypothetical hypothesis of overall profit expectations in 2023 is the main reason why the bank has reduced growth goals.

Morgan Stanley said that due to the disappointment of sales prospects and the risk of developers' breach of contract, real estate stock rating was lowered to "reduced holdings."In view of the low risk exposure of private consumption on debt and contraction issues, and the bottom -up self -improvement of profitability, it continues to favor non -necessary consumer goods.

Analysts added that the market has remained cautious in the near future. Due to government stimulus measures, it is scattered and lacks signs of macro improvement.

The bank also reduced the basic targets of the Hang Seng Index, Hang Seng State -owned Enterprise Index and the CSI 300 Index in June to 18,500 points, 6450 points, and 4000 points, respectively.In addition, considering that China ’s weight in MSCI EM (emerging market index) and MSCI APXJ (Asia Pacific Index) is about 30%, the target price of these two indexes is also lowered.

This is the second time Morgan Stanley has lowered the key indicators of mainland China and the Hong Kong stock market in three months.In June, the bank reduced the MSCI China index from 80 points to 70 points, and reduced the HSI forecast from 24,500 points to 21,500 points.

Morgan Stanley adjusted Chinese stocks from "Over Weight" to "Equal Weight" on the 3rd of this month.The stock market rebounded to make a profit.