Switzerland's Longo: The Hang Seng Index is expected to continue to challenge 30,000 points this year, maintaining a high allocation to gold.

President Trump of the United States nominated Kevin Warsh to be the next chairman of the Federal Reserve, causing market expectations of interest rate cuts to diminish. The U.S. dollar reversed its decline and Hong Kong stocks failed to maintain their upward momentum after breaking through the ceiling. Shao Zhi Ming, the head of portfolio management for Asia at Switzerland's Longo, said that he expects Hong Kong stocks to reach around 30,000 points this year, with still potential for high single-digit upside from current levels. He pointed out that investors' confidence in the independence of the Federal Reserve has been shaken recently, with expectations that the dollar will continue to depreciate, but at a slower pace. In terms of Hong Kong stocks, he noted that the inflow of funds into Hong Kong stocks has slowed compared to last year, and the net inflow of Northbound funds has also slightly decreased. The situation appears more like a slow bull market, with expectations of whether there will be policy support during the two sessions. He expects Hong Kong stocks to reach around 30,000 points this year, with still potential for high single-digit upside from current levels. He also mentioned that while there has been some fluctuation in the inflow of funds into emerging markets recently, the overall situation has not changed, with volatility still existing but the general direction remains positive. As for the recent fluctuation in gold prices, he pointed out that central banks and institutional investors are increasing their allocation to gold to hedge against geopolitical risks, leading to a significant increase in demand for gold and the maintenance of a high allocation to gold. However, due to the large volatility in silver prices, it is not suitable for wealth allocation.