To The Moon

This week, Hong Kong stocks repeatedly rushed, with $HSI(HSI)$ shooting up to a whopping 3.6% gain at one point, but then sliding back down, ending with just a 1.59% weekly increase.

On the news, there were plenty of good news both at home and abroad. On Wednesday, the Canadian central bank lowered its interest rate by 25 basis points, from 5% to 4.75%, setting the ball rolling for G7 countries to cut rates.

And on Thursday, the European Central Bank (ECB) decided to cut rates too – the first time since September 2019!

In the US, AI stocks skyrocketed, with $NVIDIA Corp(NVDA)$ 's market cap surpassing $3 trillion. Semiconductor companies like $ASML Holding NV(ASML)$ and $Taiwan Semiconductor Manufacturing(TSM)$ were also on a roll, propelling US stock indices to record highs!

Domestically, China's exports grew 7.6% year-on-year in May, surpassing expectations. In addition, the Caixin China Services PMI rose to 54 in May, its highest level since August 2023!

Although the news is warm, A-shares were all over the place this week, with small-cap stocks suffering a mini-crash, dragging Hong Kong stocks down with them.

In terms of sectors, more gains and less losses this week:

And those southbound funds were busy, pumping in nearly HK $30 billion!

With the market heating up, the IPO scene is also getting lively. All three new listings this week did well, with $EASOU TECH(02550)$ skyrocketing 91.7% on its first day!

The new listings market is heating up, so investors better keep an eye out!

Key Events in Hong Kong Stocks This Week

1.Sales of the top 100 property developers in May grew 3.4% month-on-month but fell 33.6% year-on-year;

2. $BYD ELECTRONIC(00285)$ will be included in $HSI(HSI)$ ;

3.Yu Minhong called $EAST BUY(01797)$ a mess;

4.Citibank predicted that Chinese house prices will further stabilize in the next 6-9 months;

5.Shenzhen's second-hand housing sales grew 35% year-on-year in May;

6.The Caixin China Services PMI rose to 54 in May, its highest level since August 2023;

7. $BYD COMPANY(01211)$ 's FinDreams unit has signed a supply agreement with Tesla for its Shanghai energy storage plant;

8. $MEITUAN-W(03690)$ 's first-quarter net profit grew 36.4% year-on-year;

9. $NIO-SW(09866)$ 's first-quarter revenue was 9.909 billion yuan, down 7.2% year-on-year;

10. The European Central Bank (ECB) decided to start cutting interest rates on June 6.

Five Stocks Worth Attention Among Top Trading HK Stocks This Week

Top 3: $MEITUAN-W(03690)$ . This week, Meituan released its first-quarter report, with revenue of 73.28 billion yuan, up 25% year-on-year. Adjusted net profit was 7.49 billion yuan, up 36.4% and exceeding market expectations;

Top 4: $SMIC(00981)$ . With US semiconductor stocks soaring this week, the Philadelphia Semiconductor Index hit a record high, boosting semiconductor-related stocks in Hong Kong;

Top 7: $COSCO SHIP HOLD(01919)$ . The global shortage of shipping capacity caused by the Red Sea crisis is getting worse, with congestion at major ports. Shipping stocks soared;

Top 8: $EAST BUY(01797)$ . During the "618" promotion, the company changed its usual refined style and adopted an exaggerated, shouting-style live streaming, and the stock price has plummeted;

Top 9: $NIO-SW(09866)$ . The first-quarter gross margin and second-quarter guidance fell short of expectations, causing the stock price to plummet.

Next Week's Hong Kong Stock Market Events

1. Hong Kong A-shares will be closed for the Dragon Boat Festival holiday next Monday;

2. Next Wednesday, China will release CPI data for May, the market expects 0.3%; On the same day, the United States will release CPI data for May, which is expected to be 3.4%;

3. Next Thursday, the Federal Reserve will issue interest rate resolution and monetary policy proof, the market does not expect a rate cut, pay attention to the attitude of the Federal Reserve.