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US + HK Market 2H23 Outlook US equities are trending higher. The S&P 500 is forming higher lows and higher highs. Expectations are for a rebound in corporate earnings in 2H2023. However, investors are avoiding being too far out on the risk spectrum. Most economists are forecasting a US recession within the next twelve months. Companies with wide moats have been outperforming, and appear likely to remain investor favorites. The Hong Kong stock market underperformed in 1H23. Entering the second half of the year, the views on the path for interest rates between the market and the US Federal Reserve are still divergent and China's economic recovery is more irregular than expected. The market is also still concerned about rising geopolitical risks. How should investors draw up their investment plans?Speakers' Profiles Paul is the strategist of UOB Kay Hian Wealth Management. He has 35 years' investment experience in the capital markets and commodities and has held positions in the UK, Geneva, Singapore and the US for the world’s largest commodities trading firm. Curtis focuses on the research on Hong Kong stocks. He is a CFA charterholder and has years of experience in equity trading and research. Prior to joining UOB Kay Hian, he was engaged in leading equity research at CMB Wing Lung Bank.
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