To The Moon

Hong Kong stocks were weak this week, with $HSI(HSI)$ retreating for four consecutive days and losing 2.84%.

On Friday, the Bureau of Statistics revealed that the May Manufacturing Purchasing Managers' Index (PMI) stood at 49.5%, down 0.9% from the previous month.

Mainly due to the high base formed by earlier rapid growth in the manufacturing industry and insufficient effective demand, the sentiment level in the manufacturing sector has declined somewhat.

In terms of sectors, real estate and healthcare were still the biggest losers this week:

With Hong Kong stocks taking a breather, southbound funds bought in a whopping HK$29.7 billion this week!

Despite the sluggish market, new listings stole the show. Three IPOs this week, including $QUNABOX GROUP(00917)$ soared 40% on its first day, $EDA GROUP HLDGS(02505)$ exploded 84.2%, and $AUTOSTREETS(02443)$ rocketed 27%!

And in today's dark trading, $UBoT Holding(08529)$ even surged a whopping 100%!

With the recovery of the Hong Kong stock market, IPOs might just become the new hot trend!

Key Events in Hong Kong Stocks This Week

1. Richard Liu lashed out at "slackers" at a $JD.com(JD)$ internal meeting, saying those with poor performance are not his brothers!

2. The third phase of the National Integrated Circuit Industry Investment Fund was established with a registered capital of 344 billion yuan;

3. $LENOVO GROUP(00992)$ $Lenovo Group Ltd.(LNVGY)$ shares hit a new high in recent years;

4. Nearly 30% of $EVERG VEHICLE(00708)$ shares may be acquired;

5. $Alibaba(BABA)$ $Alibaba(09988)$ Health's annual adjusted net profit increased by about 90%;

6. The Financial Supervision Administration said it would meet the reasonable financing needs of real estate projects;

7. $BYD COMPANY(01211)$ $BYD Co., Ltd.(BYDDF)$ released the fifth generation DM-i dual-mode hybrid system to refresh the car fuel consumption;

8. $ALPHAMAB-B(09966)$ $ALPHAMAB ONCOLOGY(ALMOF)$ plummeted due to poor clinical data on its research drugs;

9. The IMF raises China's economic growth forecast to 5% this year;

10. $AKESO(09926)$ $AKESO INC.(AKESF)$ stock price soared as clinical data on its research drugs was excellent;

11. The China Securities Regulatory Commission fined $EVERGRANDE(03333)$ 4.175 billion yuan!

Five Stocks Worth Attention Among Top Trading HK Stocks This Week

Top 1: $XIAOMI-W(01810)$ $Xiaomi Corp.(XIACY)$ . Morgan Stanley analyst Andy Meng hiked Xiaomi's target price by 25%, calling the recent dip a great long-term buying opportunity;

Top 3: $EVERG VEHICLE(00708)$ . On May 26, the company announced that a third party might acquire nearly 30% of its shares, sending its stock soaring;

Top 6: $SMIC(00981)$ . With the establishment of the third phase of the National IC Industry Investment Fund with registered capital of 344 billion yuan, semiconductor stocks rallied this Monday.

Top 7: $EDA GROUP HLDGS(02505)$ . On Tuesday, the company listed on the Hong Kong stock market, with its revenue soaring 84.2%. In addition, many other IPOs also saw significant gains on their first day, indicating a recovery in IPO enthusiasm in Hong Kong;

Top 9: $AKESO(09926)$ $AKESO INC.(AKESF)$ . The company announced positive clinical data for its globally innovative bispecific antibody drug Evocimab, sending its stock price soaring!

Next Week's Hong Kong Stock Market Events

1. China will release its May import and export data next Friday;

2. $Tiger Brokers(TIGR)$ , $MEITUAN-W(03690)$ $MEITUAN(MPNGY)$ , $NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$ , and other companies will be releasing their financial reports next week.