Stocks that lagged behind this year are expected to be the driving force of next year's market gains with returns in mid-double digits an investment bank predicts. In terms of sectors, Eva Lee, Head of Hong Kong Equities, UBS Global Wealth Management CIO, believes that cyclical technology stocks are attractive, such as the semiconductor industry, since demand has increased due to 5G rollout. UBS is also optimistic about advertising and payment industries, as online and physical advertising is expected to rebound next year. Lee predicts high single-digit growth in the MSCI Hong Kong Index next year. Yifan Hu, Regional CIO and Chief China Economist, UBS Global Wealth Management, expects China’s economy to grow by 2.1 percent this year and by 7.8 percent next year.

Source: The Standard November 20, 2020 13:07 UTC