渣打：对恒指未来12个月目标2.9万至3万点，继续看好AI相关股

Core Viewpoint - The performance of Hong Kong stocks has been under pressure recently, with expectations for the Hang Seng Index to stabilize around 25,000 points. There is optimism that external factors, particularly a potential interest rate cut by the Federal Reserve in December, could improve market sentiment and benefit Hong Kong stocks [1] Group 1: Market Outlook - The Hang Seng Index is expected to stabilize at around 25,000 points due to recent underperformance [1] - The Federal Reserve's potential interest rate cut in December could enhance investment sentiment and positively impact Hong Kong stocks [1] - The upcoming Central Economic Work Conference in December may lead to short-term positive measures that could temporarily boost the market [1] Group 2: Future Projections - The target for the Hang Seng Index over the next 12 months is set between 29,000 and 30,000 points, driven by anticipated earnings recovery from a low base [1] - The importance of the upcoming two sessions in March next year is highlighted, alongside global policy directions, particularly from the U.S. [1] - The potential for more stimulus policies from U.S. President Trump before the midterm elections is noted as a factor that could influence market conditions [1] Group 3: Investment Recommendations - There is a positive outlook on AI-related stocks, particularly platforms involved in AI investments, which are expected to reach a larger customer base and improve corporate efficiency [1] - It is advised to buy during market consolidation, while a cautious approach is recommended for companies focused solely on traditional food delivery services [1]