To The Moon

This week, the Hong Kong stock market continued its upward momentum, with the $HSI(HSI)$ rising 2.84% to close at 24,825.66, just shy of its year-high at 24,874.39.Key Domestic DataJune’s retail sales grew by 4.8% YoY, reaching 42.3 trillion yuan. However, this was a significant drop from May’s 6.4% growth. On the flip side, China’s exports rose by 5.8% YoY in June, surpassing economists' expectations of 5% and outpacing May's 4.8%.Overseas UpdatesThe US core CPI rose by 2.9% YoY in June, meeting expectations but slightly up from May's 2.8%. Monthly growth edged up to 0.2%, missing the 0.3% forecast for the fifth straight month. Meanwhile, the US stock market saw a surge in AI-related stocks after $NVIDIA(NVDA

This week, Hong Kong stocks rebounded, with the $HSI(HSI)$ rising by 0.93%.Market Sentiment ShiftFollowing last week’s sixth Central Financial and Economic Committee meeting, the fight involution trend is gaining momentum. The solar industry saw multiple companies raise their silicon wafer prices. On Tuesday, the State Post Bureau held a meeting, stressing the need to strengthen industry regulation, improve postal and express delivery market rules, and fight “involutionary” competition. They emphasized tackling service quality issues in the last-mile sector to contribute to a unified national market.Economic Data HighlightsOn Wednesday, the National Bureau of Statistics released data showing that CPI rose by 0.1% YoY in June, surpassing analysts’ e

This week, Hong Kong stocks experienced a pullback, with $HSI(HSI)$ dropping 1.52%.Positive Trade News: China-US Relations ImproveIn a major development, the Chinese Ministry of Commerce confirmed that the U.S. has lifted a series of restrictions on China. The U.S. will resume exports of products such as software, ethane, and aircraft engines to China.Meanwhile, Vietnam and the U.S. announced a preliminary trade agreement, imposing a 20% tariff on Vietnam's exports to the U.S. and a 40% tariff on re-exported goods.This news sparked a rally in trade-related stocks.Optimistic Domestic Policies & Market BoostsOn the domestic, the National Medical Insurance Administration and the National Health Commission issued measures to support high-quality de

This week, Hong Kong stocks surged, with the $HSI(HSI)$ up 3.2%, closing in on its yearly highs!Key Market NewsOn June 23rd, US President Trump announced on his social media platform that Israel and Iran had agreed to a full ceasefire. This helped ease risk-off sentiment, causing oil and gold prices to fall. As inflation worries eased, global markets rebounded.On June 24th, during a hearing in the House Financial Services Committee, Jerome Powell stated that the Federal Reserve had enough room to stay neutral on interest rates for now. He also hinted that if inflation didn't rise as expected, the Fed might cut rates sooner.On Thursday, the Hong Kong government unveiled its “Digital Asset Development Policy 2.0” to turn the city into a global hub fo

This week, the Hong Kong stock market underperformed, with the $HSI(HSI)$ falling by 1.52%.Economic Data: Mixed SignalsThe National Bureau of Statistics released May's economic data. Retail sales for May totaled 4.1326 trillion yuan, growing 6.4% year-on-year, which was 1.3% higher than last month’s growth rate and exceeded market expectations.However, the growth was mainly driven by government subsidies. Retail sales of household appliances and audiovisual equipment jumped by 53% year-on-year, reaching 116.6 billion yuan. But this boost may be short-lived, as there are reports that the government is suspending or adjusting its "trade-in" subsidies, raising concerns about the sustainability of the retail rebound.Meanwhile, real estate data showed t

This week, the Hong Kong stock market saw an initial rise, but then a dip, with $HSI(HSI)$ ending up just 0.42%.CPI and PPI Data: A Mixed BagOn Monday, China’s National Bureau of Statistics released May’s CPI and PPI data. The Consumer Price Index (CPI) dropped by 0.1% year-on-year, while the core CPI, excluding food and energy, rose 0.6%—a slight uptick from the previous month. The Producer Price Index (PPI) fell by 0.4% month-on-month and saw a larger year-on-year drop of 3.3%. Despite weak data, the market remains hopeful.Positive News: US-China Trade TalksGood news came from the US-China trade talks earlier this week in London. Both sides reached a consensus on a framework to implement key agreements from the June 5th phone call between leaders

This week, Hong Kong stocks regained momentum, with the $HSI(HSI)$ rising 2.16%, hitting a new high since mid-March.Mixed Economic DataThe latest economic data is a mix of good and bad. For example, the Ministry of Culture and Tourism reported that 119 million people traveled domestically during the Dragon Boat Festival, up 5.7% YoY. Total spending reached 42.73 billion yuan, a 5.9% increase. But, per capita spending dropped 2.2%, averaging 359 yuan.Meanwhile, the May Caixin Manufacturing PMI came in at 48.3, a 2.1 percentage point drop from April, marking the first time since October 2024 it fell below the neutral 50 mark. On the bright side, the Services PMI for May rose to 51.1, showing expansion in the sector.Hot New Consumption StocksThe Hong

The Hong Kong stock market pulled back this week, with the $HSI(HSI)$ falling 1.32%, ending a six-week winning streak.Economic Data and External RisksOn Tuesday, China’s National Bureau of Statistics released April industrial profits for large-scale enterprises, showing a 3% year-on-year increase—higher than March’s 2.6%. This boosted January-April profits growth to 1.4%, reaching 2.1 trillion yuan, exceeding analysts’ expectations. Although China’s economy remains stable, external risks have intensified.On Thursday, a US international trade court blocked President Trump’s “Liberation Day” tariffs, ruling that imposing broad tariffs under the International Emergency Economic Powers Act exceeded his authority. This initially sent global markets high

This week, Hong Kong stocks extended their winning streak to six consecutive weeks. The $HSI(HSI)$ rose 1.1% over the week.On Monday, China’s National Bureau of Statistics released key economic data for April:Industrial output (above designated size) grew 6.1% year-on-year.Retail sales hit 3.7174 trillion yuan, up 5.1%.New home prices in first-tier cities fell 2.1% year-on-year — but the drop narrowed by 0.7 percentage points from March.On Tuesday, the People’s Bank of China authorized the release of the latest Loan Prime Rates (LPR):1-year LPR cut by 10 basis points to 3.00%.5-year-plus LPR also cut by 10 basis points to 3.50%.Against a backdrop of stable economic growth and steady global markets, something rare happened in the Hong Kong market th

This week, the Hong Kong stock market rallied for a fifth straight week, with the $HSI(HSI)$ up 2.09%.The big driver? A major breakthrough in U.S.-China trade talks. Top officials from both sides met in Geneva and reached meaningful consensus.Both countries agreed to slash tariffs. 91% of the so-called “emotional tariffs” were scrapped outright. Of the remaining 34% tariffs imposed post-“Liberation Day,” 24 percentage points are on a 90-day pause—only 10% remains.This means the current U.S. administration has cut its tariffs on China from 145% to just 30%. China’s tariffs on U.S. goods dropped from 125% to 10%.Markets loved it. The Hang Seng surged 3.4% on Monday.But then—something unexpected.Southbound Funds, which had been actively bottom-fishing