PICC AM pinpoints selected Hong Kong stocks and sectors to favour
The Hong Kong-based asset management arm of the People's Insurance Company of China (PICC) is positive about selected local stocks in telecom, traditional energy, banking, consumer, and internet sectors.
China’s state-owned life insurer PICC’s asset management arm in Hong Kong thinks selected local stocks can still deliver absolute returns for Chinese life insurance companies amid global inflation and the country’s Covid-zero policy.
Opportunities lie in three main themes – high-dividend telecom operators and traditional energy producers; companies with good or improved fundamentals, including banks and consumer goods companies with strong pricing power; and quality internet compa…
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