The Hang Seng Index rose by 340 points or 2% last week, reaching a monthly high on August 16. Tan Wai Man, Chief Investment Strategist at BNP Paribas Wealth Management in Hong Kong, believes that the previous concerns about external uncertainties have largely been reflected, and the downward momentum has significantly decreased. Hong Kong stocks can further stabilize in the short term, with a potential challenge to 18,000 points in the future. With high expectations for interest rate cuts in the external markets, high dividend yield stocks remain an investment theme. Tan Wai Man pointed out that current data from mainland China is not particularly outstanding, lacking a catalyst for a major market rally. However, due to low market expectations for fundamentals, there may not be much downside. If stimulus policies are introduced at this time, it could be a pleasant surprise, and Hong Kong stocks are expected to hover around 17,000 to 18,000 points in the short term. Tan Wai Man believes that with expectations of interest rate cuts in the market, funds will seek high dividend yield stocks, especially Chinese telecommunications stocks supported by national policies. It is expected that the industry will distribute more dividends in the future, and profitability will continue to improve. In addition, interest rate-sensitive stocks such as the Hong Kong property sector will also benefit. Several large technology stocks reported earnings last week, and Tan Wai Man admitted that the performance of technology stocks varies. With changes in consumer habits in mainland China, only a few companies are benefiting. On the other hand, the chip and AI sectors are benefiting from national policies and the wave of smartphone upgrades, and investors are encouraged to buy related shares at lower prices.