BANK OF E ASIA: It is not ruled out that the Hang Seng Index may see another low in the short term, with support around 15,400 points.

BANK OF E ASIA predicts that the Hang Seng Index may see another low in the short term, with support expected around 15,400 points and a P/E ratio of 7.7-7.8 times. Due to the large holdings of technology and growth stocks by foreign investors, as well as lower-than-expected profit growth, the Hang Seng Index is facing selling pressure. The performance of Hong Kong stocks is weak, and the net outflow of foreign capital is causing concerns for the mainland economy. BANK OF E ASIA expects a positive outlook for the renminbi, with the anticipation of a rate cut by the Federal Reserve in the first half of 2024, and the renminbi exchange rate will fluctuate within the range of 7-7.15. The downgrade of China's economic outlook by Moody's has limited impact on the trend of the renminbi.