To The Moon

It's finally stopped falling! The Hang Seng Index $HSI(HSI)$ ended a three-week losing streak with a modest gain of 0.03% last week.

On the news, the central bank cut interest rates smoothly last week, but only lowered the 1-year LPR, the 5-year LPR related to mortgage interest stood still, and the asymmetric downward adjustment was less than market expectations, which triggered a market correction.

In addition, the financial reports of Chinese stocks have been released one after another, among which, Kuaishou $KUAISHOU-W(01024)$ $KUAISHOU TECHNOLOGY(KUASF)$ , Baidu $Baidu(BIDU)$ $BIDU-SW(09888)$ , Anta $ANTA SPORTS(02020)$ $Anta Sports Products Ltd.(ANPDY)$ , WuXi Biologics $WUXI BIO(02269)$ , POP MART $POP MART(09992)$ and other companies released better-than-expected results, leading to a rebound in stock prices, while Meituan $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ and NetEase $NetEase(NTES)$ $NTES-S(09999)$ fell sharply because some indicators fell short of expectations.

Although the Hang Seng Index is still fighting hard at 18000 points, southbound funds have flowed into HK $21.25 billion last week, which was in sharp contrast to the net outflow of 22.4 billion yuan from A-shares this week.

In terms of sectors, real estate is still at the bottom, and the rest of the sectors have fallen more and risen less:

Key Events in Hong Kong Stocks Last Week

1. Sf Holding submits its listing application to HKEX $HKEX(00388)$ ;

2. Country Garden $COUNTRY GARDEN(02007)$ $Country Garden Holdings Co., Ltd.(CTRYF)$ was excluded from the Hang Seng Index and Best Buy was included in the Hang Seng Science and Technology Index;

3. The central bank lowered the 1-year LPR by 10 basis points, while holding fire over the 5-year period;

4. Following Country Garden $COUNTRY GARDEN(02007)$ , Sunac China $Sunac China Holdings Limited(SNCHY)$ $SUNAC SERVICES(01516)$ 's share price has also become a "fairy stock"(the share price is below $1);

5. Three departments: Mainland individual investors will continue to temporarily exempt individual income tax from the transfer difference income obtained by investing in stocks listed on the Hong Kong Stock Exchange through the Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and the transfer difference income obtained by trading Hong Kong fund shares through mutual recognition of funds;

6. Transmission millet car to obtain car manufacturing qualifications, battery suppliers have finalized a supply, two supply, respectively for CALB Group $CALB(03931)$ and Contemporary Amperex Technology $Contemporary Amperex Technology Co.,Ltd.(300750)$ ;

7. Companies such as Kuaishou $KUAISHOU-W(01024)$ $KUAISHOU TECHNOLOGY(KUASF)$ , Baidu $Baidu(BIDU)$ $BIDU-SW(09888)$ , Anta $ANTA SPORTS(02020)$ , WuXi Biologics $WUXI BIO(02269)$ , POP MART $POP MART(09992)$, Meituan $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ , NetEase $NetEase(NTES)$ $NTES-S(09999)$ and other companies released financial results, most of which exceeded expectations;

8. JD.com $JD.com(JD)$ $JD-SW(09618)$ lowered the threshold for free delivery for the first time since the introduction of 10 billion yuan in subsidies;

9. Best Buy $Best Buy(BBY)$ will officially start live streaming on Taobao at 8 o 'clock on August 29 (next Tuesday);

10. US commerce secretary Gina Raimondo will visit China from August 27 to 30.

Three Stocks Worth Attention Among Top Trading HK Stocks Last Week

Top2: Xiaomi Group $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ , there have been multiple developments in Xiaomi car building last week. Online rumors have obtained the most important car building qualifications, and battery suppliers have been established. At the same time, some netizens found that Lei Jun and suspected test cars "showed up" in Xinjiang. Xiaomi car building went further, causing stock price changes.

Top3: Meituan $MEITUAN-W(03690)$ $MEITUAN(MPNGF)$ , after trading on last Thursday, Meituan released its second quarterly report that the company's first-half revenue was 126.582 billion yuan, an increase of 30.2% over the same period last year, but it is expected that the growth rate will slow in the third quarter and the stock price fell.

Top8: Best Buy $Best Buy(BBY)$ , last week, the good news from Best Buy, will be officially live on Taobao at 8: 00 next Tuesday, when its founder Yu Minhong, CEO Jack Sun and others will be in the live broadcast room. As a result, stock prices rose sharply.

Next week's Hong Kong stock market events

1. The US Secretary of Commerce is visiting China. We will pay attention to whether there is any important information to be released during the meeting between the two sides;

2. On Thursday morning, China's official manufacturing PMI data for August will be released, which can reflect the recovery of the real economy and may have a big impact on the market;

3. BYD $BYD Co., Ltd.(BYDDF)$ $BYD COMPANY(01211)$ , Xiaomi $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ , NiO $NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$ , Haidilao $HAIDILAO(06862)$ $Haidilao International Hldg Ltd(HDALF)$ , Nongfu Spring $NONGFU SPRING(09633)$ and other companies will release financial reports.