＜Research＞CICC Expects HK Stocks to Keep Structural Mkt in Oscillating Pattern, May Stabilize after Significant Callback

　　Hong Kong stock market fell again last week, with the plunge in peripheral US stocks as the main drag, CICC released a research report saying.

　　The lack of significant improvement in domestic growth and insufficient expectation of strong policy stimulus in the future also contributed to the continued pressure on the market.

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　　Overall, under the base case scenario, CICC believed that it is still unrealistic to expect strong stimulus, as internal and external constraints make it difficult for policy to be presented in a “hands-off” manner.

　　As a result, the market is more likely to remain structural in an oscillator pattern, but the market has approached the weekly and monthly support levels after the recent significant callback.

　　Therefore, it is likely to stabilize at this position if there are no unexpected impact.

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