Hong Kong Market Opens Higher with AI Concept Stocks Leading Gains; MINIMAX-WP Rises Nearly 4%

The Hang Seng Index opened 0.13% higher, while the Hang Seng Tech Index gained 0.04%.

Stocks related to large AI models showed strength, with MINIMAX-WP (00100) rising nearly 4%.

CATL (03750) surged over 3% as the company is set to begin delivering its first sodium-ion battery solutions this September.

Regarding the outlook for the Hong Kong market, Caixin Securities believes that given the current environment, with rising expectations for U.S. Federal Reserve interest rate hikes, the U.S. dollar index is likely to maintain a relatively strong position.

This could slow the pace of global liquidity easing, potentially weakening the momentum for cross-border capital flows into emerging markets like Hong Kong, which may constrain liquidity recovery and the performance of southbound trading in the Hong Kong market.

Guoyuan International notes that while short-term market sentiment has improved, it is not advisable to excessively increase risk exposure.

Investors could moderately focus on growth sectors with strong earnings certainty and high elasticity.

If the Fed maintains a neutral-to-hawkish stance, the market may return to volatility after a period of recovery.

Conversely, if the Fed releases unexpectedly dovish signals, sectors that have experienced significant pullbacks and possess attractive dividend yields and valuations could see a valuation rebound.

Soochow Securities points out that the number of positive catalysts has increased significantly compared to earlier periods.

In addition to the U.S.-Iran agreement, this week's Federal Reserve policy meeting serves as a crucial catalyst.

As long as the new Fed Chair, Wash, delivers a relatively neutral stance (avoiding strongly hawkish signals), it could effectively support global risk assets, benefiting a rebound in the Hong Kong market and the return of foreign capital.