中东局势不稳，港股料受压

Group 1: Market Overview - The report indicates that the Hong Kong stock market is under pressure due to instability in the Middle East, with the Hang Seng Index experiencing a decline of 362 points or 1.5% over the week [3] - The Hang Seng Index opened at 23,291 points, rebounding to close at 23,530 points, up 292 points or 1.3% on Friday [3] - The report highlights that the largest gainers among blue-chip stocks were Henderson Land (00012) with a 5.3% increase, while the biotechnology sector faced significant declines, with WuXi Biologics (02269) dropping 13.9% [3] Group 2: Economic Indicators - The report from CICC suggests that the Federal Reserve may cut interest rates 1 to 2 times this year, potentially lowering rates to between 3.75% and 4% [6] - The S&P 500 index is projected to have a central tendency between 6,000 and 6,200 points if favorable tax and interest rate policies are implemented [6] - The report notes that the U.S. dollar is expected to remain weak in the short term but may see a slight rebound in the fourth quarter [7] Group 3: Real Estate Market - Morgan Stanley forecasts that the Hong Kong housing market may enter a rising cycle lasting 4 to 5 years, with prices expected to increase by 2% in the second half of 2025 [8] - Factors supporting the housing market include the cancellation of stamp duty, declining mortgage rates, and increased demand from mainland buyers and immigrants [8] Group 4: Company News - Baidu (09888) plans to expand its Apollo Go autonomous taxi service to Singapore and Malaysia, exploring suitable business models for these markets [10] - E-Surfing Technology (02550) is conducting a placement of shares at a discount of 8.05% to raise approximately HKD 184 million for AI development and market expansion [11] - IFBH (06603), a Thai food and beverage company, is set to raise over HKD 1.1 billion through an IPO, with plans to enhance logistics, brand building, and market penetration [12]