The Chief Investment Strategist of East Asia Bank, Lee Chen Hao, stated that the Hong Kong stock market is currently at the bottom of a "U-shaped" trend, but due to the lack of very positive news, it is expected to move sideways for some time. Whether there will be a rebound or not will depend on factors such as interest rates and national policies. The Hang Seng Index target for the first half of this year is between 19800 and 20000 points. As the Hong Kong stock market may move sideways for some time, Lee Chen Hao suggests that investors should choose utility stocks, defensive stocks, or stocks with high dividend yields. Although the stock prices may not experience big increases, the returns will be higher than fixed deposits or interest rates. Lee Chen Hao said that he believes the performance of the IPO market this year will be good. When interest rates clearly show a trend towards decreasing, the costs and rates of stock financing will become clearer. It is expected that within the time frame from the peak of interest rates to the first rate cut, more IPOs will be attracted. It is believed that not only Hong Kong, but also global IPOs will improve.