---
title: "Singapore Bank: Forecasts the Hang Seng Index's full-year target at 23,000 points, with the Hong Kong property market expected to record a low single-digit decline"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/225544356.md"
description: "Singapore banks forecast the Hang Seng Index's annual target at 23,000 points, with a conservative target of 18,500 points, expected to be reached in the first quarter. The Hong Kong property market is expected to record a low single-digit decline, while the Chinese property market is likely to hit bottom. U.S. inflation is expected to rise, with a spot gold target price of $2,900. Market uncertainty is increasing, with a focus on high-dividend stocks for defense in the first quarter. There is optimism for internet, automotive, home appliance, and banking stocks. It is expected that the central bank may cut interest rates, and the space for rate cuts by the Federal Reserve has been pressured since Trump's administration, with expectations of only one rate cut in the U.S. There is optimism for the U.S. and Asian stock markets, with an expected annual return of nearly 7%"
datetime: "2025-01-20T11:07:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/225544356.md)
  - [en](https://longbridge.com/en/news/225544356.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/225544356.md)
---

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# Singapore Bank: Forecasts the Hang Seng Index's full-year target at 23,000 points, with the Hong Kong property market expected to record a low single-digit decline

According to the Zhitong Finance APP, Singapore Bank's China stock strategist Huo Huimin predicts that the Hang Seng Index's annual target is 23,000 points, with a conservative target of 18,500 points, believing that the conservative target can be reached in the first quarter. Additionally, the Hong Kong property market is expected to be soft this year, with a forecast of low single-digit declines; meanwhile, the Chinese property market is expected to bottom out as policies are introduced. The bank anticipates that U.S. inflation figures will trend upward in the long term, with a 12-month spot gold target price of $2,900.

Huo Huimin stated that the increase in market uncertainty this year will lead to higher market volatility than in the past, so the focus will be on defensive high-yield stocks in the first quarter. She believes that the Chinese government's economic stimulus policies will continue and extend, with the policy quota expected to double this year to 300 billion yuan compared to 2024. With the introduction of policies, she is optimistic about the internet sector and some sectors benefiting from policy impacts, such as automotive, home appliance stocks, and bank stocks. Additionally, with the Spring Festival approaching and liquidity tightening, it is expected that the central bank may cut interest rates again.

Singapore Bank's Global Chief Investment Officer Xie Peihua stated that with Trump's administration, inflation may return, putting pressure on the Federal Reserve's room for interest rate cuts, and it is expected that the U.S. will only cut rates once this year.

Deng Yongjian, Chief and Investment Office Director of Singapore Bank's Hong Kong branch, pointed out that in recent years, market uncertainty and volatility have been increasing, and cyclical trends have become less pronounced than before. Currently, he is optimistic about the stock market, with the U.S. as the first choice and Asia as the second choice. However, as the U.S. stock market is at a high level, it is expected that the first half of the year will focus on consolidation, with an expected annual return of nearly 7%

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