Hong Kong stocks are cheap but may miss out on the benefits of China's efforts to support its economy, analysts at Goldman Sachs said, while downgrading their recommendation on the market. "Although valuations are not demanding,

Goldman Sachs and Morgan Stanley downgraded their forecasts for Hong Kong and Chinese stocks, citing economic concerns and potential political impacts. While bullish on mainland China, Goldman Sachs believes Hong Kong will see limited growth and recommends mainland investments due to lower global sensitivity.