Core Viewpoint - Meituan's stock price is currently facing resistance from moving averages, indicating potential selling pressure despite short-term rebound signals from some indicators [1][2]. Technical Analysis - The stock opened at HKD 122.8, showing a 0.9% increase, with key support levels at HKD 117.8 and HKD 113.6, while resistance levels are at HKD 126.4 and HKD 131 [1][2]. - Technical indicators such as RSI at 44 suggest a neutral stance, while MACD and Bollinger Bands indicate ongoing selling signals [1][2]. Derivative Products Performance - In the context of Meituan's 4.19% stock increase on August 12, related leveraged products performed exceptionally well, with UBS bull certificates rising by 69% and JPMorgan bull certificates increasing by 53% [4]. - Call options like HSBC's (19143) and CCB's (17067) showed significant leverage, with HSBC's providing 5.7x leverage and a strike price of HKD 138.98 [7]. Selected Bull and Bear Certificates - UBS bull certificate (50199) leads with 12.8x actual leverage and a recovery price of HKD 115.4, while UBS bear certificate (61871) offers 7.4x leverage with a recovery price of HKD 138 [9].

Core Viewpoint - HSBC's stock price is currently around 100.6 HKD, showing increased short-term volatility with a 4.7% fluctuation over the past five days, indicating a tug-of-war between bulls and bears at a critical level [1][2]. Technical Analysis and Key Levels - Support levels for HSBC are identified at 96.5 HKD (short-term support) and 92.3 HKD (strong support), while resistance levels are at 104.4 HKD (recent high) and 108.5 HKD (yearly target) [2]. - The 10-day moving average (98.41 HKD) and 30-day moving average (98.16 HKD) have formed a "golden cross," but the stock price is nearing the upper Bollinger Band, making the ability to break through the psychological barrier of 100 HKD a focal point [2]. - There is speculation on whether HSBC will first retrace to the 96.5 HKD support if the broader Hong Kong market weakens, or if it will benefit from interest rate hike expectations to test higher levels [2]. Recent Performance and Investor Sentiment - In August, HSBC's stock price rose nearly 10% after a significant drop at the end of July, stabilizing around the 100 HKD mark [4]. - Investors are divided, with some seeing a double-top formation that could lead to a drop towards 90 HKD, while others believe the stock is on a stable upward trajectory [4]. Product Review and Strategy Insights - Recent product performance shows that UBS bull certificates have significantly outperformed the underlying stock, with one product rising 7% and another 10% despite only a 0.2% increase in the stock price [5]. - In the current market environment, investors are encouraged to consider UBS call options with a leverage of 17.3 times, particularly suitable for aggressive investors anticipating a breakout [7]. - For bearish investors, options with lower leverage and favorable implied volatility are also available, providing a range of choices depending on market outlook [7][11]. Market Volatility and Trading Opportunities - The current market volatility has increased the risk associated with bull and bear certificates, necessitating close monitoring of the distance between the stock price and the recovery price [11].

Core Viewpoint - Sunny Optical Technology (02382) has recently attracted attention with its stock price at 77.1 HKD, showing bullish signals in technical analysis [1] Technical Analysis - The stock price has stabilized above the MA10 (74.89 HKD) and MA30 (74.02 HKD), with MA60 (68.94 HKD) providing solid support, indicating a strengthening medium-term trend [1] - The RSI indicator is at 62, nearing the overbought zone but not yet overheated, while MACD and Bollinger Bands have issued buy signals [1] - Key support levels are at 74 HKD (Support 1) and 71.4 HKD (Support 2); maintaining above these levels will sustain the bullish pattern [2] - Resistance levels are at 79.3 HKD (Resistance 1) and 82.7 HKD (Resistance 2); breaking through 79.3 HKD could trigger a new upward movement [2] Investment Signals - Current technical signals summarize as "buy," with a short-term preference, and the upper resistance levels align with investor expectations [4] - For investors optimistic about short-term breakthroughs, options such as Societe Generale call warrant 13939 (exercise price 89.5 HKD, leverage 4.8) and Barclays call warrant 15410 (exercise price 89.55 HKD, leverage 4.9) are recommended [7] - Cautious investors may consider the put warrant 14741 (exercise price 73.82 HKD, leverage 4.5) as a hedging tool against potential market adjustments [7] Derivative Products - Bull certificates like HSBC Bull Certificate 62734 and UBS Bull Certificate 57312 have a buyback price set at 70 HKD, with actual leverage of 8.1 and 7.9 respectively, suitable for investors expecting short-term rebounds [10] - A bear certificate option is Citigroup Bear Certificate 55092, with a buyback price of 88 HKD and actual leverage of 6.6, suitable for strategies anticipating a price peak and subsequent decline [10]

Group 1 - Xiaomi's stock price is currently at 51.5 HKD, showing a 1.28% increase, but technical indicators suggest severe overselling with an RSI of 31, indicating a potential for a technical rebound [1] - The stock has fallen below all key moving averages, with MA10 at 52.85 HKD, MA30 at 55.98 HKD, and MA60 at 54.94 HKD, while other indicators like the Williams %R, Stochastic Oscillator, and CCI signal a buying opportunity [1] - Short-term support levels are identified at 48.8 HKD (Support 1) and 45.1 HKD (Support 2), with resistance levels at 53.5 HKD (Resistance 1) and 56 HKD (Resistance 2) [2] Group 2 - Recent derivative products have shown strong performance, with UBS bear certificate 59867 rising by 13% and JPMorgan bear certificate 55706 increasing by 12% during a period when Xiaomi's stock fell by 2.03% [4] - Recommended products for investors anticipating a rebound include Morgan Stanley call option 16583 with a strike price of 59.05 HKD and a leverage of 10.1 times, and Bank of China call option 29957 with a strike price of 59 HKD and a leverage of 9.9 times [7] - For bearish investors, Morgan Stanley put option 14322 and HSBC put option 14333, both with a strike price of 46.45 HKD and competitive premiums, are suggested [7][10]

Core Viewpoint - Xiaomi's stock price is currently experiencing volatility, with technical indicators suggesting a potential short-term rebound despite being in an oversold condition [1][12]. Technical Analysis - As of August 13, 2025, Xiaomi's stock price is at 52.5 HKD, showing a 1.55% increase. The RSI indicator is at 31, indicating an oversold condition. The stock price has fallen below the 10-day moving average (52.98 HKD) and the 30-day moving average (56.02 HKD), but is supported near the 60-day moving average (54.97 HKD) [1]. - The William and stochastic indicators are signaling a buy, contrasting with the MACD sell signal, suggesting a possible technical rebound in the short term [1]. - Key support levels are identified at 49.7 HKD and 46.4 HKD, while resistance levels are at 54.5 HKD and 57 HKD. A significant market volatility is indicated by an 8% fluctuation over five days [3]. Market Sentiment - Recent trading activity shows a capital inflow of 35 million HKD into Xiaomi's call options over the past five trading days, indicating investor interest in capitalizing on potential rebounds [1]. - The stock has seen fluctuations, with a recent low of 50.1 HKD and a previous high of over 60 HKD, reflecting investor concerns amid competitive pressures in the automotive sector [1]. Derivative Products Performance - Recent recommendations for derivative products have shown strong performance, with certain bull certificates experiencing gains of 30% and 24% in a short period, demonstrating the effectiveness of leveraged products in a rebound scenario [5]. - New recommendations for call options include HSBC's call option with a strike price of 60.65 HKD and a leverage of 7.2 times, suitable for speculative rebound plays [8]. Investment Strategy - Investors are advised to monitor the support level at 49.7 HKD closely. If this level holds, there may be opportunities for gradual accumulation [3]. - For bearish investors, options with lower strike prices and higher leverage are available, providing hedging opportunities against potential declines [8][10].

Group 1 - Xiaomi Group (01810) saw a 2.15% increase in stock price, closing at 54.55 HKD with a trading volume of 5.354 billion HKD, indicating heightened investor interest [1] - Technical indicators show mixed signals; while most indicators remain in the sell zone, the stochastic oscillator has issued a buy signal, and the RSI has moved away from the oversold area, suggesting a potential short-term technical rebound [1] - The stock price is currently below the 10-day moving average (56.02 HKD) and the 30-day moving average (57.03 HKD), but above the 60-day moving average (54.79 HKD), indicating that the medium-term trend is still to be confirmed [1] Group 2 - Key support level is at 52.7 HKD; if breached, the stock may drop to 50.7 HKD. The short-term resistance is at 56.9 HKD, and a breakthrough could lead to a challenge of 58.4 HKD [1] - The Bollinger Bands indicate that the stock price is near the lower band, and if it stabilizes and rebounds, it may move towards the middle band [1] - Although the MACD maintains a sell signal, the downward momentum has weakened; if the stock can hold above the 55 HKD level, the short-term outlook may improve [1] Group 3 - Recent derivatives performance shows that on July 31, when Xiaomi's stock rose by 2.63%, UBS's bull certificate 57477 had a remarkable single-day increase of 30%, while another UBS bull certificate 69916 rose by 23% [4] - In terms of call options, UBS call certificate 17892 increased by 9%, and Bank of China call certificate 16937 rose by 8%, both outperforming the underlying stock's increase, demonstrating the leverage advantage of derivatives in trending markets [4] - Various derivatives are available for investors; for bullish positions, Bank of China call certificate 16937 offers 5.3x leverage with a strike price of 62.04 HKD, while UBS call certificate 15800 offers 8.9x leverage with a strike price of 63.05 HKD [7]

Core Viewpoint - Xiaomi Group's stock price is currently experiencing significant selling pressure, with a recent decline of 1.05% to HKD 56.8, indicating active market trading and a neutral signal without a clear direction [1][4]. Technical Analysis - The stock price is positioned slightly below the 10-day moving average of HKD 57.49, yet remains above the 30-day moving average of HKD 56.96 and the 60-day moving average of HKD 54.55, suggesting short-term adjustment pressure but no significant damage to the medium-term trend [1]. - Key support levels are identified at HKD 55.2 and HKD 53.6, while resistance levels are at HKD 58.4 and HKD 60.3. A rebound above HKD 57.5 could challenge the resistance at HKD 58.4, whereas a drop below HKD 55.2 may lead to a decline towards HKD 53.6 [4]. Market Sentiment - Technical indicators show mixed signals, with multiple moving averages issuing sell signals, but the overall market sentiment is not strongly bearish, as indicated by a sell strength of only 10. The RSI is at 53, indicating a neutral zone [4]. - Recent performance in the derivative market shows a significant increase in bearish instruments when Xiaomi's stock price fell by 2.82% on July 24, with notable gains in related put options [4]. Derivative Instruments - Investors looking for bullish positions may consider UBS call options (14816) with a strike price of HKD 61.05, offering a leverage of 5.9 times and low implied volatility. HSBC call options (14677) have the same strike price but offer slightly higher leverage at 6.1 times [7]. - For bearish investors, options such as Bank of China put options (14387) with a strike price of HKD 46.45 and leverage of 3.09 times, or UBS put options (17706) with a strike price of HKD 53.94 and leverage of 4.8 times, are available [7]. Investment Strategy - In the current market environment, a cautious approach is recommended, waiting for a clear breakout above HKD 57.5 or a drop below HKD 55.2 before making further moves. A range trading strategy could be beneficial, positioning call options near support levels and put options near resistance levels [13].

Core Viewpoint - Semiconductor company SMIC (中芯国际) shows positive technical indicators, with a current stock price of HKD 48.8, reflecting a 0.51% increase. The stock is above its 10-day and 30-day moving averages, indicating a favorable medium-term trend, although it is approaching overbought territory [1]. Technical Analysis - The stock price is currently supported at HKD 45.1, with a potential drop to HKD 42.4 if this support is broken. The key resistance level is at HKD 50.3, and a breakthrough could lead to testing HKD 53.3 [1]. - The MACD indicator shows a golden cross, while the Bollinger Bands indicate an upward trend. However, the RSI is at 68, nearing the overbought zone, suggesting a possible need for consolidation before testing the resistance at HKD 50.3 [1]. - Investors are optimistic about breaking the resistance at HKD 49, with some targeting HKD 53. The overall technical signals are summarized as "buy" [1]. Derivative Instruments - Recent performance of derivative products linked to SMIC shows significant leverage effects. For instance, a specific warrant from Societe Generale increased by 32% following a 3.08% rise in SMIC's stock price [4]. - Various warrants are available in the market, with Citigroup's warrant offering 5.5x leverage at an exercise price of HKD 52.55, and UBS's warrant providing 4.2x leverage at HKD 52.05 [7]. - Bear certificates are also available, with one from Societe Generale offering 12.4x leverage and a redemption price of HKD 52 [10]. Market Sentiment - The current market sentiment indicates active trading, with a 9.6% five-day volatility suggesting robust market engagement. The mixed signals from momentum oscillators indicate potential short-term fluctuations [1]. - Investors are considering whether to wait for a pullback to support levels or to follow through on potential breakouts, reflecting varying risk appetites in the semiconductor sector [13].

Core Viewpoint - Tencent Holdings (00700) is currently experiencing a tug-of-war around the 500 HKD mark, with the latest price at 503.5 HKD, reflecting a slight increase of 0.2%. The stock is at a critical turning point, with the 10-day moving average (505.48 HKD) and 30-day moving average (507.83 HKD) acting as resistance, while the 60-day moving average (497.11 HKD) provides support. The divergence in technical indicators, with MACD showing a sell signal and momentum oscillators indicating a buy signal, warrants close attention from investors [1]. Technical Analysis - The first support level is at 487 HKD, and the second support level is at 470 HKD, which are crucial for assessing short-term trends. On the upside, 518 HKD is a recent rebound high, and a breakthrough could lead to a challenge of the 535 HKD level. The stock's 5-day volatility is only 3.1%, indicating a relatively low volatility environment, which may suggest an impending directional choice [3]. - The market sentiment is currently neutral, as indicated by the bull-bear strength indicator. The RSI at 50 shows that the stock is neither overbought nor oversold, leaving ample room for future price movements. Although moving averages signal a strong sell, the stock has begun to recover some averages, and if it can maintain above 505 HKD in the coming days, it may reverse the short-term bearish trend [7]. Trading Strategy - In the current technical environment, short-term investors are advised to adopt a range trading strategy within the 487-518 HKD range. Conservative investors may wait for clear breakout signals; a volume-driven breakthrough above 518 HKD could be a signal to follow the trend, while a drop below 487 HKD would warrant caution for further downside risks. Given the low volatility, investors using derivative instruments should be particularly mindful of time decay [8]. Derivative Product Recommendations - For call options, the Bank of China call option 29579 offers a stable choice with a leverage of 14.5 times and an exercise price of 560.5 HKD, featuring the lowest premium and implied volatility among peers, effectively reducing holding costs. The Bank of China call option 13873 provides a higher leverage of 16.6 times with an exercise price of 563.5 HKD, suitable for investors expecting a rapid breakthrough. Both products are moderately out-of-the-money (approximately 11-12%) and are ideal for balancing risk and return [9]. - For bull certificates, UBS bull certificates 68481 and 68650 have redemption prices set at 477.2 HKD and 474 HKD, respectively, maintaining a safety margin of about 5-6% from the current price, offering leverage of 15.5 times and 14 times. These products are suitable for gradual accumulation when Tencent retraces to the 487 HKD support level. For bearish strategies, UBS bear certificate 61324 and Societe Generale bear certificate 60438 have redemption prices between 520-522 HKD, providing nearly 30 times leverage but with high risk, suitable only for experienced short-term traders with strict stop-loss measures [11][12].

Core Viewpoint - The recent performance of China Construction Bank (00939.HK) shows strong upward momentum, with the stock price reaching HKD 8.11, marking a 1.37% increase and breaking through several resistance levels [1][3][7] Price Structure - The stock has clearly broken out of its previous consolidation phase, approaching the technical resistance level of HKD 8.20, with short-term support at HKD 7.72 and secondary support at HKD 7.29 [3][6] - The stock's 5-day volatility reached 8.1%, indicating increased market participation and suggesting a favorable environment for short-term trading strategies [3][6] Technical Indicators - The stock is currently rated as "strong buy" with a composite signal strength of 16, indicating a bullish trend across multiple core indicators [6][8] - The RSI is at 79, entering the overbought territory, reflecting strong buying momentum, although it has not yet formed a reversal signal [3][6] - Other indicators such as CCI, momentum, and VR are still signaling buy, confirming the dominance of bullish capital [3][6] Trading Volume and Market Sentiment - The trading volume reached HKD 3.391 billion, reflecting significant capital deployment, especially as the stock price broke previous resistance levels [6][8] - The MACD continues to maintain a bullish structure, indicating that the price has entered an upward cloud, suggesting a shift towards a bullish trend [6][8] Derivative Products - The performance of related derivative products, particularly call options and bull certificates, has been notable, with some call options showing returns significantly higher than the underlying stock [1][7] - Specific call options, such as those issued by UBS and HSBC, offer high leverage ratios, making them suitable for short-term traders looking to capitalize on the stock's upward potential [7][8] Investment Strategy - The current technical setup supports aggressive deployment strategies, with call options suitable for capturing short-term breakout trends, while bull certificates are appropriate for participating in mid-term upward movements [8][11] - Investors should monitor changes in trading volume and market volatility closely, ensuring strict stop-loss measures to mitigate risks associated with short-term fluctuations [11]