Cheuk Wan Fan, Chief Investment Officer, Asia, at HSBC Global Private Banking (GPB) and Wealth, stated that the State Council will disclose measures regarding "intensifying countercyclical adjustment of fiscal policy" at a press conference the day after tomorrow (12th).Fan expected the Chinese government to introduce additional fiscal stimulus measures to complement monetary easing policies, which will in turn boost domestic demand, and support economic growth.HSBC GPB currently maintains a neutral view on the Chinese and Hong Kong stocks, believing that the sustainability of the rise in mainland China's stock markets will depend on the strength of fiscal stimulus support. It raised the end-2024 index targets for the Shanghai Composite Index/ CSI 300 Index/ Shenzhen Composite Index to 3,800/ 4,700/ 12,000.Fan also pointed out a preference for high-quality, high-yield Chinese state-owned enterprises, as well as blue-chip internet giants with stable earnings and valuations significantly lower than their global peers. As for the Hong Kong market, she is upbeat on high-yield stocks with low valuations in the insurance, telecom, and utilities sectors, as well as certain oversold but financially sound property developers.