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<Research>Citi: HK 1Q GDP Growth Beats; Full-yr Forecasts Slightly Raised
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Citi Research issued a research report expecting that Hong Kong's 1Q25 economy will grow by 3.1% YoY, beating expectations. However, after the escalation of trade and geopolitical tensions between the US and China in April, there are doubts about the pace of recovery, especially for investments and trading. Citi Research slightly raised its full-year economic growth forecast by 0.2 ppts to 2.2% on the back of a strong 1Q25. As the retail and trade or logistics sectors face further headwinds, the broker said that a close monitor of the impact on the labor market is needed. Meanwhile, the strength of HKD and the Hong Kong Monetary Authority (HKMA)'s injection of HKD into the market reflected increased financing activities. AAStocks Financial News |
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