Citi maintains forecast for A-shares outperforming H-shares and predicts that the price of gold is expected to reach $5,300 per ounce by the end of the year.

The Investment Strategy Analyst of the DBS Hong Kong Investment Director's Office (North Asia) Lin Zixuan stated that they hold a "overweight" view on the Mainland and Hong Kong stock markets, continue to be bullish on the performance of A-shares in the future, and believe that they will outperform Hong Kong stocks. Regarding the recent improvement in Hong Kong stocks, he analyzed that this is mainly driven by two factors: first, the market's concerns about the Fed raising interest rates during the year have eased, and second, the previously overly concentrated global technology hardware long positions are now diversifying, and the market is starting to invest in sectors other than hardware, leading to a boost in the Hong Kong technology sector. Nevertheless, as the overall profitability of hardware stocks has not deteriorated, DBS continues to be optimistic about this sector. Considering that there are more related targets in A-shares, their preference for this market is higher. At the macro level, DBS believes that the Fed will not cut interest rates this year. Although the price of gold has recently experienced a slight correction, DBS believes that this is only a short-term clearance of speculative funds, and gold is expected to resume its role as a safe-haven asset. With long-term support such as central bank gold purchases, it is expected that gold will still have room to rise this year, with the possibility of reaching $5300 per ounce by the end of the year.