Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) shows strong short-term upward potential with a current stock price of HKD 4.25, supported by technical improvements and market dynamics [1][10]. Technical Analysis - Current technical support levels are at HKD 4.15 and HKD 4.02, while resistance levels are at HKD 4.29 and HKD 4.44, indicating a bullish market sentiment [1]. - The stock price is above the 10-day, 30-day, and 60-day moving averages, which are at HKD 4.17, HKD 4.03, and HKD 4.10 respectively, forming a standard bullish pattern [1]. - The estimated probability of price increase is 52%, suggesting continued short-term upward potential [1]. - The technical summary rating is "Strong Buy" with a perfect score of 16, reflecting a consensus among technical indicators [4]. Market Activity - The trading volume reached HKD 508 million, indicating strong market participation and sufficient capital support [1]. - The RSI has reached 72, entering the overbought territory, while the Williams and Stochastic indicators also signal overbought conditions [4]. - Despite some short-term adjustment risks, momentum indicators continue to suggest buying opportunities [4]. Derivative Products - Selected derivative products related to Sinopec have shown significant leverage effects, with notable gains in call options [4]. - UBS call options (16466) and JPMorgan call options (16450) offer leverage of 7.7 times, suitable for bullish investors [6]. - UBS bull certificates (53188) provide a leverage of 7.6 times, appealing to conservative investors [6]. Investment Strategy - Investors are encouraged to consider entering positions in Sinopec, given the favorable risk-reward ratio, while setting technical stop-loss levels to manage risks [10].

Core Viewpoint - Hong Kong Stock Exchange (HKEX) shows strong upward momentum in technical analysis, with a recent price of HKD 405.2, reflecting a 0.5% increase and a stable influx of capital [1][4]. Technical Analysis - The stock has surpassed major moving averages, with MA10 at HKD 393.92, MA30 at HKD 372.25, and MA60 at HKD 358.2, indicating a bullish trend [1]. - The current support levels are at HKD 386 and HKD 361, while the short-term resistance is at HKD 410, with a potential upward challenge to HKD 423 if broken [4]. - The Relative Strength Index (RSI) is at 70, indicating strong buying power, but caution is advised due to potential short-term pullback pressures [7]. - The technical model estimates a 52% probability of upward movement, aligning with current momentum trends [4]. Investor Sentiment - Investor sentiment is generally positive, with many expecting continued interest in IPOs and a long-term target of at least HKD 450 [1]. - There are 17 buy signals, 1 sell signal, and 6 neutral signals, suggesting a steady upward trend [1]. - Short-term resistance is closely aligned with investor expectations, indicating a consensus around HKD 409 as a critical level [1]. Derivative Products Performance - Derivative products linked to HKEX have shown significant leverage effects, with notable performances from bull certificates, such as Societe Generale's bull certificate 54739 and HSBC's bull certificate 53712, both achieving a 21% increase [2]. - Call options like HSBC's 29547 and Societe Generale's 27807 also reported gains of 18% and 15%, respectively [2]. Market Dynamics - The overall market atmosphere remains bullish, supported by strong technical indicators and high trading volumes, which reinforce the positive outlook for HKEX [11]. - The presence of various derivative products allows investors to align their strategies with market expectations, catering to different risk appetites [7][9].

Core Viewpoint - Anta Sports (02020.HK) shows a bullish technical trend, with various indicators suggesting potential for continued price increases, supported by market optimism [1][2]. Technical Analysis - The current price of Anta Sports is HKD 95.6, which is above key moving averages (MA10: 94.77, MA30: 93.13, MA60: 91.5), indicating a positive short to medium-term trend [1]. - The first support level is at HKD 92.3 and the second at HKD 88.4, suggesting limited downside potential. Initial resistance is at HKD 98.8, with a higher resistance level at HKD 102.8 [1]. - The stock recently experienced a single-day increase of 1.76%, indicating active buying interest in the market [1]. Volatility and Momentum Indicators - Anta's 5-day volatility is 9%, reflecting active trading and supporting upward price momentum [2]. - The Relative Strength Index (RSI) is at 57, indicating a neutral to strong position without overheating, suggesting further upward potential [2]. - Technical indicators collectively signal a "strong buy" with a signal strength of 17 points, indicating a high-intensity bullish signal [2]. Derivative Products Performance - During the period from June 2 to 4, Anta Sports' stock price increased by 1.43%, with various derivative products showing different performances. Notably, the Societe Generale bull certificates (53978) and JPMorgan bull certificates (54458) recorded gains of 12% [4]. - Call options such as Huatai's (13440) and Macquarie's (15902) also showed positive performance, with increases of 6% and 5% respectively, reflecting stability in slightly fluctuating stock prices [4]. Investment Products Overview - Anta Sports offers a range of derivative products for investors, including call options with leverage ranging from 2.8x to 4.4x and bull certificates with leverage of 7x to 7.2x [7][8]. - Investors can choose from various products based on market expectations, considering factors such as leverage, exercise price, and premium [7]. Conclusion - Overall, Anta Sports exhibits strong technical advantages, with moving averages, momentum indicators, and market sentiment aligning to suggest potential for upward price challenges in the near term. Close attention should be paid to the resistance level at HKD 98.8 for potential breakout opportunities [1][2][4].

Core Viewpoint - WuXi Biologics (02269.HK) shows a recovering stock price trend, indicating market optimism for its future performance [1][11]. Price Performance - The stock price closed at HKD 24.95 on June 2, 2025, with a stable trading day and a cumulative volatility of 10.8% over the past week, suggesting potential for a breakthrough [1]. - In just two days, the stock price increased by 6.62%, positively impacting related derivative products, with notable performances from JPMorgan and UBS leveraged products, which rose by 28% and 20% respectively [1][7]. Technical Analysis - Support levels for WuXi Biologics are identified at HKD 22.9 and HKD 23.5, confirming bottom support as the stock stabilizes above these levels [3]. - Resistance levels are at HKD 25.8 and HKD 26.8; a breakthrough of the first resistance could lead to a new upward trend [3]. - The probability of an upward movement is assessed at 53%, indicating a neutral to bullish sentiment [3]. Technical Signals - A strong buy signal is indicated by 17 technical signals supporting a bullish outlook, including moving averages and mid-term trend indicators [6]. - The MACD and Ichimoku indicators also provide buy signals, reinforcing expectations for trend continuation [6]. Derivative Products - For bullish investors, the Bank of China call option (15841) offers a stable choice with a leverage of 3.3 times and an exercise price of HKD 24.88, minimizing time decay impact [7]. - For higher leverage, the Morley call option (14687) provides a leverage of 1.9 times, suitable for short-term trading [7]. - Investors interested in bull certificates may consider JPMorgan's product (57118), which offers a leverage of 5.3 times with a recovery price of HKD 22 [7]. Market Outlook - The overall market sentiment is positive, with expectations for further upward movement if the stock can effectively break through the key resistance level of HKD 25.8 [11]. - The stock is currently in a stabilizing phase, and any short-term fluctuations should be viewed as a healthy consolidation process for future gains [11].

Core Viewpoint - Tongcheng Elong (00780.HK) is experiencing a period of consolidation after recent upward momentum, with a closing price of HKD 21.9, reflecting a slight increase of 0.23% [1] Price Movement and Technical Analysis - The stock has shown a significant volatility with a five-day amplitude of 15.1%, indicating high market interest [1] - Current price is above all major moving averages, with the 10-day, 30-day, and 60-day moving averages at HKD 21.01, HKD 21.03, and HKD 20.3 respectively, suggesting a bullish trend [1] - The stock is forming a preliminary bottom and strengthening pattern, indicating a shift in market sentiment towards the positive [1] Support and Resistance Levels - The first support level is at HKD 20.9, with a further support at HKD 19.9, which may act as potential rebound points [3] - The first key resistance level is at HKD 22.8, and a successful breakout could lead to a target of HKD 23.9 [3] - The probability of an upward movement is estimated at 52%, reflecting a generally positive market outlook [3] Technical Indicators - The RSI is at 61, indicating a strong position but not yet overbought, suggesting room for further price increases [3] - Overall technical indicators are summarized as "strong buy," with a signal strength of 16, indicating multiple indicators are aligned in a bullish signal [3] - The MACD and Ichimoku indicators are also signaling buy recommendations, reinforcing confidence in the current upward trend [3] Market Sentiment and Trading Volume - The stock's trading volume reached HKD 173 million, indicating active market participation [4] - Despite some divergence in oscillators, such as a short-term sell signal from the stochastic oscillator, other indicators like CCI and momentum oscillators are turning bullish, showing stable buying sentiment [3] - The VR ratio indicates a "oversold, potential bottoming" signal, suggesting that after high volatility adjustments, the stock is showing signs of bottoming out [3] Summary of Overall Trend - The technical trend for Tongcheng Elong is transitioning from high volatility to the early stages of an upward trend, with a solid bullish structure established [7] - If the stock can effectively break through the resistance at HKD 22.8, it will confirm the bottom structure and initiate a new upward wave [7] - Investors are advised to closely monitor changes in MACD and trading volume as key indicators for confirming the continuation of the upward trend [7]

Core Viewpoint - China Life Insurance (02628.HK) is currently in a steady upward channel, with short-term support levels at HKD 15.50 and HKD 14.60, and resistance levels set at HKD 16.60 and HKD 17.00. The overall upward probability is 52%, indicating conditions for continued upward movement [1]. Technical Analysis - The stock price has stabilized above all major moving averages, including the 10-day moving average at HKD 15.80, the 30-day moving average at HKD 14.92, and the 60-day moving average at HKD 15.10, forming a bullish structure [1]. - The trading volume reached HKD 621 million, providing substantial financial support for the stock's rise and reflecting increased market participation [1]. - The RSI index is currently at 68, indicating strong bullish sentiment, while the Williams and Stochastic indicators are in the overbought zone but have not shown clear signs of weakening [1]. - The CCI and psychological line indicators are also leaning bullish, with momentum and volatility indicators supporting the current upward trend [1]. - The Bollinger Bands show the stock is approaching the upper band, with MACD and Ichimoku indicators simultaneously issuing buy signals, indicating a strong overall trend [1]. Signal Summary - The technical indicators for China Life Insurance have been summarized as a "strong buy," achieving a perfect score of 16, indicating multiple technical factors are resonating to support the stock's continued rise [3]. - Since May 20, the stock has consistently received "buy" to "strong buy" ratings, with clear market trends and active participation from major funds [3]. Derivative Products Performance - On May 26, when the underlying stock rose by 2.17%, related derivative products showed even more impressive gains, with Morgan Stanley's bull certificate (68142) leading with a 13% increase, followed by Citibank's call warrants (25657 and 25498) with increases of 12% and 11%, respectively [3]. Investment Products - For bullish strategies, Societe Generale's call warrant (15787) and Citibank's call warrant (15987) offer approximately 6.5 times leverage, with exercise prices around HKD 17.3 [6]. - Citibank's bull certificate (54112) provides a 6.1 times actual leverage with a recovery price of HKD 13.5, offering a higher safety margin for bullish investors [6]. - For bearish strategies, UBS's put warrant (14199) and Morgan Stanley's put warrant (13914) provide about 5.7 times leverage, both with exercise prices of HKD 13.88 [6]. - Citibank's bear certificate (57271) stands out with 8.3 times high leverage and the lowest premium, while UBS's bear certificate (57555) offers 6.7 times actual leverage [6]. Overall Market Outlook - China Life Insurance exhibits strong characteristics across various technical parameters, and if it can maintain the support level of HKD 15.50, it is expected to challenge the resistance levels of HKD 16.60 and HKD 17.00 [7]. - Despite some short-term indicators being at high levels, as long as trading volume and momentum remain healthy, there is still room for upward movement [7].

Core Viewpoint - Tencent Holdings (00700) is currently trading around HKD 506, maintaining above the critical support level of HKD 490, with technical indicators suggesting potential upward movement [1][2]. Technical Analysis - The first support level for Tencent is at HKD 490, with a potential drop to HKD 474 if this level is breached. The key resistance level is at HKD 523, and a breakthrough could lead to a challenge at HKD 538 [2]. - The 10-day moving average is at HKD 514.2, while the 30-day moving average is at HKD 490.79, indicating short-term support [1]. - The RSI is at a neutral level of 55, and the MACD and Bollinger Bands indicate potential for price increase, contingent on volume support [1]. Signal Summary - Current technical signals include 6 sell signals, 7 neutral signals, and 11 buy signals, suggesting a general "buy" recommendation [1][4]. Market Sentiment - Recent market activity shows a volatility of 3.6% over the past five trading days, indicating that the market is still searching for a clear direction [2]. - Investors are considering various derivative products, with some anticipating a drop to around HKD 495, while others are looking at options with a recovery price of HKD 491 [4][5]. Derivative Products - Multiple derivative tools are available for investors, including call options with leverage ranging from 9.5 to 10.1 times, and put options for bearish strategies with leverage up to 16.6 times [7][10]. - Notable products include Morgan Stanley's call option (13263) with a strike price of HKD 563.5 and a low premium, appealing to conservative investors [7]. Investment Discussion - Investors are encouraged to consider whether Tencent is more likely to break through HKD 523 or test the support at HKD 490 in the near term [13].

Core Viewpoint - China Merchants Bank (03968.HK) maintains a strong technical trend, closing at HKD 49.45 on May 29, 2025, with a slight increase of 0.20%, reinforcing its recent upward channel [1] Technical Analysis - The stock price is currently above key technical support levels, with short-term support between HKD 47.50 and HKD 44.80, and upward resistance at HKD 50.60 and HKD 52.00 [1] - The overall upward probability is at 52%, indicating potential for breaking previous highs, with market sentiment remaining bullish [1] - Moving averages show the stock price is above the 10-day, 30-day, and 60-day averages, which are HKD 49.30, HKD 46.43, and HKD 46.40 respectively, reflecting a standard bullish pattern [1] - Trading volume reached HKD 750 million, indicating strong liquidity and high market participation, which supports steady price increases [1] Technical Indicators - The RSI value is at 66, nearing the overbought zone but not yet overheated, suggesting active buying with room for further upward movement [2] - Other key oscillators like CCI and psychological lines maintain buy ratings, while the stochastic oscillator is in the overbought zone but signals a sell [2] - The MACD remains in positive territory with a buy signal, and the Ichimoku chart shows a clear upward trend, indicating a healthy technical structure [2] - The Bollinger Bands indicate the stock is trading between the upper and middle bands, reflecting a strong consolidation phase with upward breakout potential [2] - The overall technical summary signals a "strong buy" with a strength rating of 17, indicating a very strong upward signal [2] Market Outlook - As a core blue-chip in the financial sector, China Merchants Bank has established a clear and stable upward pattern [3] - A successful breakthrough of the key resistance at HKD 50.60 could lead to rapid advancement towards HKD 52 or higher [3] - As long as the stock does not fall below the critical support level of HKD 47.50, the overall bullish trend will be maintained, making it a potential target for medium-term positioning [3]

Core Viewpoint - China National Petroleum Corporation (CNPC) shows a strong technical outlook with upward momentum, closing at HKD 6.59 on May 28, 2025, reflecting a 0.92% increase and surpassing key moving averages [1][3]. Technical Analysis - The stock has broken through the first resistance level of HKD 6.68 and is poised to challenge the next resistance at HKD 6.99, with first and second support levels at HKD 6.34 and HKD 6.07 respectively [3]. - The stock is above major support zones, indicating strong market support, with a 5-day volatility of 4.1%, suggesting manageable fluctuations [3]. - The RSI index is at 71, indicating overbought conditions, but no clear signs of weakening are present, suggesting a strong stock trend [3]. - Other indicators like the Williams and Stochastic indicators are also in overbought territory without reversal signals, confirming ongoing market momentum [3]. - The CCI and ADX indicators show robust performance, further validating the current trend [3]. - Overall technical indicators suggest a "strong buy" signal with a total strength of 17, indicating a very strong technical buying zone [3]. Trading Volume and Market Sentiment - The trading volume recorded was HKD 1.273 billion, reflecting active market participation and supporting the price uptrend [5]. - Momentum oscillators and rate of change indicators provide neutral to slightly bullish signals, indicating no signs of capital withdrawal [5]. - Psychological indicators and bull-bear power indicators maintain a positive outlook, boosting investor confidence [5]. Derivative Products - Various call and put options are available for CNPC, including UBS call options with a leverage of 12.7 times and a strike price of HKD 7.51, suitable for investors seeking high returns at lower costs [5]. - Guotai Junan call options offer a leverage of 13.1 times, balancing leverage and implied volatility for more conservative investors [5]. - UBS and Citigroup bear options have a redemption price of HKD 7.5, with actual leverage of 4.6 times and 4.9 times respectively, appealing to investors looking to short CNPC [5]. Short to Medium-Term Outlook - CNPC is expected to have further upward potential in the short to medium term, supported by resistance level breakthroughs and positive technical signals [7]. - Investors are advised to monitor short-term adjustment risks due to the overbought status of RSI and Williams indicators, as well as changes in trading volume for further reference [7].

Group 1 - The stock price of Sunny Optical (02382) is currently at 59.8 HKD, down 1.89%, showing weakness since reaching a peak on May 12, and is approaching the lower band of the Bollinger Bands at 58.8 HKD [1] - The Relative Strength Index (RSI) has dropped to 40, indicating an oversold condition, while the William and Stochastic indicators are signaling a buy; however, the MACD and Bollinger Bands maintain a strong sell perspective [1] - The stock has fallen below all major moving averages, with the 10-day moving average at 63.89 HKD acting as a significant resistance level; if it cannot recover the support level of 59 HKD, it may drop to the year’s low of 51.3 HKD [1] Group 2 - The warrants related to Sunny Optical (15561) saw a price increase of 7% despite the underlying stock dropping by 2.7% two days later [3] - For investors anticipating a rebound, Huatai's call warrant (26633) offers a leverage of 3.4 times with an exercise price of 52.93 HKD, while the BNP Paribas call warrant (26732) provides similar conditions with a leverage of 3.3 times [5] - For bearish investors, UBS's put warrant (13316) offers a leverage of 2.5 times with an exercise price of 58.83 HKD, close to the current stock price [5] Group 3 - Citibank's bull certificate (55660) offers a leverage of 11.4 times with a redemption price of 58 HKD, which has the lowest premium among similar products; HSBC's bull certificate (55910) provides a leverage of 10.4 times [9] - Investors should note that Sunny Optical's 5-day volatility is at 7%, and they should assess their risk tolerance accordingly [9] - For bearish strategies, investors can consider JPMorgan's bear certificate (56227) or UBS's bear certificate (54934) with redemption prices of 77 HKD and 78 HKD, respectively, and premiums of 3.18% and 1.67% [9]