The Philippines We expect higher profits in 2014 Hang Lung Properties Market Overview Hong Kong Stock Market Summary SGS Perspective China Construction Railway FAI to reaccelerate Another way to detect abnormal stock market bubbles or depressions：An abnormally high correlation between growth rates in sector Southern euro-zone countries: Even if there is no accident and no new crisis, a return to normal will take a very long time Short-term scenarios：Medium-and longterm expectations should not be forgotten Solid FY13 Results, TP Raised to HK$7.60