On July 12th, Gelunhui reported that the US June CPI fell and the market anticipates a rate cut by the Fed in September. Local property stocks in Hong Kong continued to strengthen, with Henderson Land increasing nearly 7%, New World Development and Link Real Estate Investment Trust rising by more than 5%, Wharf Holdings, CK Asset and Hang Lung Properties rising by more than 4%, New World Development, Swire Properties, Wharf REIC, and Hysan Development rising by more than 3%, Sino Land, MTR, and Champion Real Estate Investment Trust rising by more than 2%, and TaiKoo Sugar A rising by nearly 2%. Stimulated by the CPI data, interest rate futures show a 25 basis point chance of a US rate cut, increasing from 69.7% the previous day to 84.6% currently, indicating that the market's expectation for a rate cut in September is further intensified.