港交所敲钟的锣不够用了...

Group 1 - The core viewpoint of the article highlights the significant increase in Hong Kong stock market activity, with June's average daily trading volume reaching approximately 230 billion, doubling from last year's 110 billion, indicating heightened market enthusiasm [1] - In June, 44 companies went public, raising 280 billion, a substantial increase from 30 companies and 66 billion in the same period last year, reflecting a fourfold growth in fundraising [1] - The article notes a record number of IPOs on a single day, with five companies and one ETF listed, marking the highest daily listing count since July 2018 [1] Group 2 - The article discusses the rising short-selling ratio in the Hong Kong market, which reached its second-highest level since April 15, indicating market divergence and sentiment concerns [2] - There is a significant concern regarding the impact of the food delivery price war on major platforms like Alibaba, Meituan, and JD.com, questioning whether the stock prices have adequately reflected the increased operational costs [4] - Despite a temporary boost from 12 billion in southbound capital, stock prices for Alibaba, Meituan, and JD.com fell significantly, with declines of 3.8%, 2.5%, and around 2% respectively, returning to levels seen in September of the previous year [5] Group 3 - The article mentions the A-share market's struggle to maintain above the 3500-point mark, with concerns that breaching this level could trigger quantitative selling mechanisms [7] - It highlights that the current market dynamics are primarily driven by capital flows, as evidenced by the high opening of A-shares despite weak CPI and PPI data [11] - The article also points out a disconnect between the banking sector's fundamentals and stock performance, with bank indices reaching historical highs despite concerns over net interest margins and non-performing loan rates [13][15]