On June 20th, Guolonghui reported that DBS released a Hong Kong stock market outlook report for the second half of the year, and investors enthusiastically discussed the impact of the domestic real estate market on the Chinese stock market. The bank acknowledged the significant impact of the real estate market on China's GDP and financial system stability, but the bank also believes that as China's national structural readjustment continues, the impact of the real estate industry on the Chinese economy is weakening. The bank believes that potential interest rate cuts and continued southbound inflows of funds will be favorable for the Hong Kong stock market in the second half of 2024. The bank reiterated its optimistic outlook for the Hong Kong stock market and predicted a basic scenario target of 20,300 points for the Hang Seng Index in the next 12 months (until June 2025), with an expected earnings per share growth of 6.4% and a predicted price-to-earnings ratio of 9.7 times in 2024. The Chinese economy is stabilizing and undergoing structural readjustment, and the authorities are expected to introduce more supportive policies and improve liquidity. DBS identified two investment themes for the second half of the year: actively seeking opportunities to collect high-quality stocks in industries such as technology and hardware, especially those that can gain market share and increase shareholder value, and continuing to hold high-yielding state-owned enterprise stocks. The bank listed its preferred Hong Kong stock names, with Ping An Insurance replacing Ke Holdings. Its preferred stocks include AAC Technologies, ANTA Sports, China Mobile, Sinopec, China Resources Beer, Ping An Insurance, Samsonite, Tencent, Ctrip, and Xiaomi.