Standard Chartered Wealth Management Chief Investment Office released the market outlook for the second quarter of 2024. The Chief Investment Officer for North Asia, Zheng Zifeng, stated that the Hang Seng Index has the opportunity to rise to the 18100 level within the next 12 months. Short-term trading in Hong Kong stocks can be considered, but a cautious attitude should be maintained in the medium to long term. In addition to diversified basic allocation, investors should pay attention to opportunistic investment strategies. Zheng Zifeng stated that the prediction of the US interest rate cut is maintained. The first-quarter US economic data showed a 50% chance of a soft landing, and the US and European central banks may start cutting interest rates in the middle of the year. Leading indicators in the United States are trending downward, and with the approaching election year, it is believed that the Federal Reserve will lean towards a preventive interest rate cut, with the US expected to cut interest rates three times by a total of 75 basis points. He mentioned that potential interest rate cuts by major central banks may trend in the same direction, and the US dollar is expected to remain relatively stable in the next three months, while the Australian and New Zealand currencies are expected to be supported by relatively hawkish central banks. The bank maintains a neutral view on Chinese stocks, as the relatively low investor holdings remain attractive, but challenges such as the sluggish real estate market need to be continued to be faced. In recent months, mainland China has successively announced favorable fiscal policies, and the overall tone of the two sessions is supportive. Any policy surprises may affect investor sentiment. For stocks, it is recommended to consider buying shares in the US technology, communication services, and energy industries. Technology and communication services stocks are expected to continue to lead the US stock market rally. With oil prices relatively stable, energy stocks may also benefit from favorable measures by US oil producers towards shareholders. Investors may also consider deploying large-cap Indian stocks and non-financial high-yield stocks of mainland state-owned enterprises, as Indian large-cap stocks offer attractive risk-return opportunities.