汇丰银行-新兴市场股票策略-gemsequitystrategy：thecaseforrussianequities20170802-hsbc-10页.pdfVIP

2 August 2017   GEMs Equity Strategy EQUITY STRATEGY GLOBAL EMERGING  MARKETS The case for Russian equities  Russian equities’ disconnect from oil price behaviour is likely John Lomax* Head of Global Emerging Market Equity Strategy to be temporary HSBC Bank plc john.lomax@  Market impact of new US sanctions is already discounted, in +44 20 7992 3712 Kishore Muktinutalapati* our view Equity Strategist HSBC Securities Capital Markets (India) Pvt Ltd  If oil prices rise to USD65/bbl (HSBC 2018 forecast), Russian kishoremuktinutalapati@hsbc.co.in +91 80 4555 2756 equities could potentially see c25% upside even with Ildar Khaziev*, CFA sanctions remai