Utilize the input text as a context reference, choose the right relationship between CLSA and Hong Kong from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

- CLSA has joined the chorus of investment banks predicting that Hong Kong will run into a bear property market as it forecast a 17 percent price drop in the next 27 months.

Answer: headquarters_location