STOCKS | JPMorgan AM Strategist Sees Hong Kong, China Stocks Improving in H2

Hong Kong stocks surged on the day, with some technology shares posting strong gains, and JPMorgan Asset Management’s Asia-Pacific chief market strategist Tai Hui said the recent rally may be linked to investors rotating into lagging markets after taking profits in South Korea and Taiwan, according to Ming Pao. Hui said Indonesia and India, which underperformed in the first half of the year, have also improved recently, but he expects the upswing to be short-lived. He added that he is positive on the performance of Hong Kong and mainland China equities in the second half of this year, expecting mainland China to step up policies to support the economy. Hui also said large internet companies applying AI to enhance their core businesses could provide fresh upside momentum for Hong Kong stocks.