To The Moon

Last Saturday, the National Bureau of Statistics released the February CPI numbers, up 0.7% year-on-year, reversing the previous consecutive negative growth situation. The month-on-month jump of 1.0%, 0.7 percentage points higher than the previous month, exceeding market expectations.

This good news has the market all smiles. Southbound funds have been flowing in for five days straight, with a whopping HK $11.4 billion bought on Wednesday alone. That's a record! And the whole week net purchase hit HK $21.38 billion.

Looking at the sectors, the optional consumption and daily consumption sector led the rise, while those high-dividend sectors like finance, energy, and telecom that the market had been embraced up to out of economic fears are seeing some red.

With this positive mood, growth stocks are getting all the love. $HSTECH(HSTECH)$ and $HSCEI(HSCEI)$ have both surged over 20% from their lows, officially entering a technical bull market!

Looking ahead to next week, biggies like $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ and $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ are set to release their earnings reports. If they beat expectations, the market mood could get even sunnier, and $HSI(HSI)$ might even join the bull market party!

Key Events in Hong Kong Stocks Last Week

1. February CPI in China rose 0.7% year-on-year;

2. $Bilibili Inc.(BILI)$ $BILIBILI-W(09626)$ shares jumped after it posted a sharp 58% year-on-year adjusted net loss for the fourth quarter;

3. The chairman of the Hong Kong Securities and Futures Commission suggested lowering the threshold for Stock Connect from HK $500,000 to HK $100,000;

4. Lei Jun announced that $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ car will be officially hit the market on March 28;

5. $LI NING(02331)$ $Li Ning Co., Ltd.(LNNGF)$ was rumored to be considering privatization, and its stock saw a sharp spike;

6. The American Biotechnology Innovation Organization will support the US BioSafety Act and exclude $WUXI APPTEC(02359)$ from membership;

7. Details of the car scrappage policy might come out in the first half of the year;

8. $HSTECH(HSTECH)$ and $HSCEI(HSCEI)$ entered technical bull market;

9. The sales price of new residential buildings in first-tier cities fell 1.0% year-on-year in February, according to the National Bureau of Statistics.

10. $BEIGENE(06160)$ $BeiGene(BGNE)$ PD-1 was approved in the United States;

11. China's money supply M2 grew 8.7% year on year in February, unchanged from the previous month and against market expectations of 8.8%.

Three Stocks Worth Attention Among Top Trading HK Stocks Last Week

Top1: $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ . Lei Jun announced that Xiaomi SU7 will be released on March 28, and over 100,000 new reservations in a day. Xiaomi's stock surged 11% last week.

Top5: $WUXI BIO(02269)$ . Pharmatech companies again spread negative, the United States Biotechnology Innovation Organization (BIO) announced that it will support the United States "Biosafety Act". The same day, WuXi AppTec announced its withdrawal from BIO;

Top6: $Bilibili Inc.(BILI)$ $BILIBILI-W(09626)$ . The company reported its fourth-quarter earnings, showing a significant narrowing of losses, and its stock skyrocketed.

This week's Hong Kong stock market events

1. On Monday, China will reveal the February figures for retail sales and industrial production. The stats bureau will also hold a press conference on the economic situation;

2. On Tuesday, the Bank of Japan will make an interest rate decision, or withdraw from negative interest rates;

3. This week, $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ , $XPeng Inc.(XPEV)$ $XPENG-W(09868)$ , $Tiger Brokers(TIGR)$ , $PDD Holdings Inc(PDD)$ and other companies will release financial reports, pay attention to whether they meet expectations.