Brokerage expects good times for HK's Hang Seng Index

Stock markets are expected to make a promising start in the Year of the Dog with the benchmark Hang Seng Index notching up impressive returns before bottoming out in the middle of 2018, Hong Kong brokerage CLSA said in its astrological predictions for the lunar year.

The brokerage expects pharmaceuticals and consumer sectors to see impressive gains in Hong Kong, but warned investors to scout for value-picks later in the year.

The Lunar New Year, also known as the Chinese New Year, falls on Feb 16 this year, with the calendar switching over from the Year of the Rooster to the Year of the Dog.