Ken Ma Capital Management trading strategist Su Peifeng pointed out that the correlation between the US stock market and the Hong Kong stock market in recent years is not high. The good news of interest rate cuts can only temporarily stimulate local property stocks and high-yield utilities in Hong Kong. The Chinese economy continues to be the focus of the market. Su Peifeng estimates that the Hang Seng Index will fluctuate between 16,000 and 19,000 points in the second half of the year. Su Peifeng expects that the focus of the market in August will still be on individual stock performance, but believes that there will not be any big surprises or catalysts. Therefore, he recommends accumulating technology stocks at the bottom of the range, speculating on rebounds, and continuing to bet on high-yielding state-owned enterprises in the medium term, including China Mobile (00941) and the "Three Oil Giants". He estimates that related stocks will continue to outperform the market. Su Peifeng also mentioned that the global chip sector has high volatility, and it is not uncommon for it to drop by 20% from its peak. This does not necessarily indicate a bear market, as the recent decline is only due to overly optimistic investor expectations. Additionally, with the current broadening of the US stock market, some funds are flowing into US utilities. Therefore, Su Peifeng believes that the current adjustment in chip stocks is just a normal sector rotation. He predicts that chip companies can still maintain their upward trend in the future.