|
Feb 18
|
|
—
|
LONG
|
Bank of America Analyst
Head of Asia-Pacific Equity Derivatives Research
|
Beijing is allowing the Renminbi to strengthen. A significant portion of Hong Kong earnings are derived in Renminbi. A stronger currency mathematically inflates the earnings of these companies when reported, acting as a passive tailwind for valuations. Bullish on Hong Kong/China equities as a currency play and a diversification hedge against US tech concentration. US-China trade war escalation could override currency benefits. |
Bloomberg Markets
Geneva Diplomacy: US-Iran Hail Progress in Nu...
|