花旗：预期明年香港GDP增长2.5%，预计美联储明年进一步降息，楼价增长3%，恒指目标28800点

Group 1 - The core viewpoint is that Hong Kong's economic activity is expected to recover faster next year, but the growth rate will slightly slow down due to a higher base, with GDP growth forecasted at 2.2% in the first half and accelerating to 2.9% in the second half, resulting in an annual growth of 2.5% [1] Group 2 - Citigroup anticipates that further interest rate cuts by the Federal Reserve next year will help keep HIBOR at low levels, supporting a 3% increase in Hong Kong residential prices, while commercial properties will continue to face pressure [3] - The Hang Seng Index is predicted to rise to 27,500 points by mid-next year and potentially reach 28,800 points by the end of the year [3] - Two major risk factors identified are ongoing geopolitical uncertainties and the accelerated integration between Hong Kong and mainland China, which could lead to increased industry competition, particularly impacting small and medium enterprises and the food and beverage sector with noticeable operational and profit pressures [3]