To The Moon

In the past week, Hong Kong stocks shackled off the negative trend with Hang Seng Index surging 5.71% this week under the stimulation of two positive news. 

From the perspective of news, firstly, the National Development and Reform Commission have recently conducted fact-finding research of platform enterprises and unveiled a number of green light investment cases. Green light investment refers to investment deals mainly involving new technologies and services that can help empower the real economy. Then Premier Li Qiang convened a symposium on platform enterprises, proposing to promote the standardized, healthy and sustainable development of the platform economy.

Affected by this favorable news, $HSTECH(HSTECH)$ soared 8.39% this week.

In addition, the U.S. CPI data in June was lower than expected, showing Federal Reserve interest rate hike will come into the end under the expectation of market. Encouraged by the positive news, the U.S. stock market soared and Hong Kong stocks also benefited from it.

The market seems to be promising, but the southbound funds was abnormal outflow of $HK4.35 billion from Monday to Friday. I have to say that the domestic capital is a little spineless:

From the perspective of sectors, the biggest gainer this week was information technology while real estate underperformed:

Big Events in Hong Kong stocks This Week:

1. $WUXI BIO(02269)$ Biotechnology scheduled to spin off WuXi Hualian listing;

2. $China Tourism Group Duty Free Corporation Limited(601888)$ 's increased by nearly 30% of first-half revenue;

3. According to the data from passenger association, wholesale sales of new energy passenger cars reached 761,000 units in June, up 33.4% year-on-year as well as 12.1% from a year earlier;

4. the People's Bank of China and the State Administration of Financial Supervision conducted to support the real estate market policy period extended to the end of 2024;

5. $KEEP(03650)$ took the initial public offering on the Hong Kong Stock Exchange without unbroken on the first day, rising 2% weekly;

6. RMB loans increased by 3.05 trillion yuan in June, which is an additional 229.6 billion yuan year-on-year; the balance of broad money (M2) reached 287.3 trillion yuan, which is up 11.3% year-on-year;

7. $STARPLUS LEGEND(06683)$ , backed by Jay Chou, publicly initiated in the Hong Kong stock market and rose as much as 23.76% on the first day;

8. $Imax(IMAX)$ China announced on the Hong Kong Stock Exchange that IMAX will privatize its Chinese subsidiary at a price of HK$10 per share;

9. U.S. CPI was 3% in June, which lower than the market expectation of 3.1%.

Top trading stocks from Tiger users this week: 

Top5: $KEEP(03650)$ , the first sports technology company, initiated public offering in Hong Kong stocks with 0.28% rising on the first day as well as 2% up this week, breaking the tradition of Hong Kong stock market on the first half of year that the IPO fell on its first day of trading. Another new stock listed this week, $STARPLUS LEGEND(06683)$ , was up 23.76% on the first day of IPO, driving the positive momentum in the new issue market in Hong Kong stock market.

Top6: $XPeng Inc.(XPEV)$ , was in poor performance this week. According to sales data released by $Li Auto(LI)$ this week, Xpeng’s sales only reached 1,200 units, less than the market expectations, which was denied by senior managers in Xpeng because of inaccuracy of information.

Big events to watch in Hong Kong stocks next week:

1. On Monday, China's GDP in Q2 data will be released, while the retail sales of consumer goods of June will be released, which is expected to have a huge impact on the market;

2. Next week, the U.S. stock market will see the earnings season. A number of giant stocks will release earnings reports, which are expected to have an impact on the corresponding sections of Hong Kong stocks.

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