On August 6th, Morgan Stanley released a research report stating that market volatility, the Fed's interest rate cuts, and improved earnings prospects have led the bank to adopt a positive view on Hong Kong utilities since June. CLP Holdings stated that if earnings continue to improve, the company will consider increasing dividends, and gas companies have also raised the possibility. Therefore, the bank maintains a positive view on utilities. The bank stated that due to the sustained improvement of CLP Holdings' Australian business and the potential to increase dividends from the second half of the year, the bank raised its rating to 'shareholding' and increased its target price from HKD 64 to HKD 76.5. In addition, the bank also upgraded HK & China Gas and Power Assets to 'shareholding' ratings, with target prices raised from HKD 6.75 to HKD 7.25 and from HKD 50 to HKD 55, respectively.