Citi raises target index levels for A-shares and Hong Kong stocks, optimistic about improving profit prospects.

Citigroup raised its target for A-share and Hong Kong stock benchmark indices, expecting export growth and government support to boost corporate profit prospects. In its report, Citigroup strategists raised the year-end target for the Hang Seng Index from 28,800 points to 30,000 points; raised the target for the CSI 300 Index from 4900 points to 5300 points; and raised the target for the MSCI China Index from 95 points to 99 points. The latest targets show that each index has more than 11% upside from Tuesday's closing prices.