Simon：Niki 你好呀，今天（16日）真開心能邀請你過來和我們聊聊港股、個股情況。那我們就事 不宜遲，馬上開始吧。看到今天的市場，其實走勢來說，真的跌得挺厲害的呢。所以想問問，在 現在這樣的市場環境下，像今天這樣一跌，比如從恆指牛熊證的街貨分佈圖來看，有沒有一些參 考或者啟示可以和大家分享呢？ 中銀國際董事Niki：今天的市況，確實跌得挺深的。如果從昨天（15日）收盤25,628點算起，今天最低 到了25,086點，差不多總共跌了接近600點的幅度。是的。所以很多投資者都會問，怎麼突然就跌了 呀。我做窩輪、牛熊證已經很久了，不過我每次都會跟投資者說，不管你有沒有參與窩輪、牛熊證市 場，我都建議大家養成一個習慣，比如每天都看看恆指牛熊證街貨分佈圖，要重複一遍，恆指牛熊證街 貨分佈圖很重要的。為什麼呢？其實你看，恆指牛證，意思就是市場上的資金這段時間都在買哪些收回 區的牛證。我留意到，在過去一個月，恆指牛證的重貨區一直都在25,100點到25,200點這100點之間，保 持著1,400張左右的期指合約，我甚至在最高峰見過接近1,800多張的期指合約。這意味著大家都覺得這 個位置不會跌破，才會買這個收回區的恆 ...

Core Viewpoint - Xiaomi has seen significant inflows in the warrant market, ranking third in capital inflow with approximately 12 million HKD, indicating investor interest despite a recent lack of news [1] Group 1: Stock Performance - As of 13:32, Xiaomi's stock price was reported at 53.95 HKD, with a daily increase of 1.31% and a trading volume of 2.783 billion HKD [1] - The stock is currently in a consolidation phase, with key technical indicators showing a neutral to slightly bullish signal [1] - The Relative Strength Index (RSI) is at 53, indicating a balanced market between buyers and sellers [1] Group 2: Support and Resistance Levels - Initial support is identified at 52.3 HKD, with stronger support at 51 HKD [2] - The key resistance level is at 56.2 HKD, and if this is surpassed, the next target would be 57.4 HKD [2] - The stock is trading above the 10-day moving average (52.92 HKD) but near the 30-day and 60-day moving averages, indicating an unclear medium-term trend [2] Group 3: Derivative Instruments - Two notable call warrants are highlighted: UBS call warrant (14816) with a strike price of 61.05 HKD and a leverage of 7.2 times, and Morgan Stanley call warrant (18099) with a strike price of 60.65 HKD and a leverage of 6.9 times [7] - For bearish investors, HSBC put warrant (14333) offers a leverage of 3.9 times with a strike price of 46.45 HKD, while Bank of China put warrant (14387) provides a leverage of 3.3 times with the same strike price [9] Group 4: Technical Analysis - Xiaomi is at a critical decision point, with both bulls and bears contesting the current price level [12] - Investors should monitor whether the stock can maintain support at 52.3 HKD or break through resistance at 56.2 HKD, as this will dictate short-term price direction [12] - The momentum oscillators indicate potential buying signals, suggesting accumulating upward momentum [1]