CIO Series #26: Hong Kong +20% YTD - What's Next?

Despite rising tariffs and macro headwinds, the Hong Kong stock market has surged ahead with a 20% plus return YTD. Sector-wise, Healthcare, Materials (gold), and Financials have done particularly well. However, at least two things stand out amid the current rally: (1) The high-beta Tech sector has barely outperformed the market. (2) China A-shares continue to underperform H-share, which is unusual in a typical bull market. In our next CIO Series, we'll speak with Tham Mun Hon, our Head of Greater China Research, about these market "anomalies" and how best to position in Hong Kong/China for the second half of 2025.

About Tham Mun Hon

Tham Mun Hon joined UOB Kay Hian in 2012 and is currently the Head of Research for Hong Kong and China. He has over 26 years of investment research experience, and was previously the Regional Strategist at Maybank-KE, Daiwa, RBS, ABN AMRO and BNP. He started his career as an Economist with the Ministry of Trade and Industry in Singapore, and later moved to institutional equity research. Mun Hon holds BSc and MSc in Econometrics from the London School of Economics.