Shinhan Investment & Securities’ economic and financial market outlook for the second half of 2024 will be summarized only in China. Three themes in China: self-driving, value-raising and consumer goodsChina’s stock market’s key theme is that it will focus only on reliable government policies in the second half of the year, with the rebound in economic indicators that have increased confidence in the pace of recovery and regulatory risks remaining in the U.S. presidential election in November1) Science and Technology Innovation (AI) 2) Stock Market Value-Up Program 3) Service consumer goods China AI’s biggest battleground: Self-driving1) Science and Technology Innovation (AI) 2) Stock Market Value-Up Program 3) Service consumer goods China AI’s biggest battleground: Self-driving1) Science and Technology Innovation (AI) 2) Stock Market Value-Up Program 3) Service consumer goods China AI’s biggest battleground: Self-drivingChina’s consumer sentiment still seems to be slow to recover: Real wage growth is also restricted due to the economic recession at a time when real estate prices, which account for more than 70% of household assets, continue to fall. However, the situation will improve in the second half of the year.First of all, the government’s aggressive easing of real estate regulations: The stock market, which will gradually bottom out, will also continue to rebound due to policy effects and corporate profit recovery.If asset income increases or their expectations spread, it will trigger a rebound in stock prices of service consumer goods companies that have been pushed back Representative beneficiaries: Shanghai International Airport, China’s largest international airport, and companies that increase profits from duty-free shop fees when international flights increase. As of March, international flights were still 75% compared to before Corona. The reason for the slow recovery of international flights is the contraction of consumer sentiment, but the recovery of international passengers will begin in May, including ticket negotiations, flights, and visa issues: The government will expand direct flights between the U.S. and China in Aprilwhitehost, 출처 unsplashwhitehost, 출처 unsplash
