NIO(US:NIO) Mei Ri Jing Ji Xin Wen·2025-07-23 01:47Market Overview - The Hong Kong stock market indices collectively rose on July 22, with the Hang Seng Index up 0.54% to 25,130.03 points, the Hang Seng Tech Index up 0.38% to 5,606.83 points, and the Hang Seng China Enterprises Index up 0.39% to 9,075.6 points [1] - Major technology stocks continued their upward trend, while the infrastructure sector showed active performance throughout the day [1] - Notable individual stocks included Kuaishou rising nearly 2%, Baidu Group up nearly 1.5%, and significant gains in BYD, NIO, and Hua Hong Semiconductor among ETF holdings [1] Southbound Capital - Southbound capital has net purchased approximately 797.4 billion HKD in Hong Kong stocks this year, nearing last year's total of 808 billion HKD [2] - The Hang Seng Index has increased over 25% year-to-date, ranking among the top performers in major Asian stock markets [2] U.S. Market Performance - U.S. stock indices showed mixed results, with the Dow Jones up 0.4% and the S&P 500 up 0.06%, while the Nasdaq fell by 0.39% [3] - Notable gains were seen in Amgen and Merck, both rising over 3%, while major tech stocks like Nvidia and Facebook experienced declines [3] - The Nasdaq Golden Dragon China Index rose by 1.7%, with significant increases in NIO and Baidu [3] Key Messages - A recent report from Invesco indicates that global sovereign wealth funds are increasing their allocation to Chinese assets, with about 60% of Middle Eastern funds planning to invest more in China over the next five years [4] - NIO announced the full launch of dynamic test drives for its L90 model starting July 23, with prices starting at 279,900 RMB for purchase and 193,900 RMB for battery rental [4] Short Selling Data - On July 22, a total of 612 Hong Kong stocks were short-sold, with a total short-selling amount of 26.779 billion HKD [5] - The top three stocks by short-selling amount were BYD at 1.736 billion HKD, Meituan at 1.682 billion HKD, and Alibaba at 1.013 billion HKD [5] Institutional Insights - Guojin Securities anticipates a resilient "structural bull market" in Hong Kong stocks for the second half of the year, supported by the long-term depreciation of U.S. dollar credit and undervaluation of the RMB [6] - The internationalization of the RMB and the value of Hong Kong stocks as core RMB assets are seen as long-term investment highlights [6]