Tempered expectations Biased growth causing concerns The Hang Seng Index is expected to trade at 25,000 to 25,300 today Weekly Report Weekly: Stock market has recovered significantly; elasticity of securities firms worth focusing on Net margin improvement delayed Northparkes priced in, cautious metals pricing not; D/G to Neutral Ready to wheel forward, upgrading to OW Relaxation of direct financing could benefit high leverage names Robinsons Retail Holdings：Robinsons Retail Holdings