Dah Sing Financial Group's chief economist and strategist, Kelvin Ng, predicts that the Fed will begin to cut interest rates in November, with a magnitude of 25 basis points. He pointed out that as the prospect of a Fed rate cut in the second half of the year becomes clear, the Hong Kong dollar interbank rate is also expected to gradually fall, but the probability of a drop of less than 4% is still high. On the product side, the operating income of 10-30 billion yuan products is 401/1288/60 million yuan respectively.

In terms of Hong Kong's property market, he pointed out that as the positive impact of the government's "spicy" measures on the market gradually diminishes and there is no sign of a decline in short- to medium-term mortgage rates, it is expected that property prices will fall by about 5% over the year. As for the investment market, Kelvin Ng believes that Hong Kong stocks are still attractive. If the United States implements interest rate cuts and corporate profit prospects stabilize, it may help the Hang Seng Index test the 20,000 point level again in the second half of the year. In terms of sectors, high dividend yield, domestic consumption, and sectors supported by national policies have a more positive outlook.

He mentioned that there are signs of a slowdown in the growth of Hong Kong visitors, coupled with the strong desire of Hong Kong people to travel abroad, resulting in an expansion of the tourism "deficit", which may continue to affect the local retail market for a period of time. However, benefiting from improved export demand, Hong Kong's economy is expected to grow by 3.1% for the entire year.