支持與阻力位分析揭示，港交所當前的主要支持位在441元，次要支持位於437元，這兩道防線將成為短線回落時的重要緩衝。上行方面，470元構成首道關 鍵阻力，突破後下一目標將指向476元。值得注意的是，港交所近五日振幅達4.4%，相對溫和的波動特性為投資者提供了較清晰的技術參考。在這樣的市場 環境中，您通常如何設定止損與獲利目標？ 港交所股價正處於技術突破的關鍵時刻，從最新數據觀察，股價在449.6元附近整固，短期均線MA10與中期均線MA30分別位於443.98元及444.37元，形成緊密交織的 技術格局。這種均線排列顯示市場正在積蓄能量，而MA60的440.02元則為股價提供穩健的基礎支撐。當前價位在441元至470元的區間內震盪，多空雙方在這個技術敏 感地帶展開激烈爭奪。 回顾昨日专栏【港股Podcast】港交所 (00388.HK)：已經到年內高位了，還有多少上升空間？窩輪市場上，有投資者在昨日部署了認購證，行使 價530.5元 Simon:走勢比較醒目，盤中最高見460元。技術買賣信號為"買入"。數據系統分析的471元是目前第一個阻力位。有機會升穿周線圖的保力加通道 頂部。如果順利突破則上試477元。 ...

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) is currently viewed as neutral, with no clear direction observed [5][6] - Resistance levels are identified at 26,900 and 27,800, while support levels are at 25,900 and 25,200 [1] - Various products are available in the market with leverage ranging from 18-24 times, depending on the chosen recovery price [1] Group 2: Tencent Holdings (00700.HK) - Tencent's technical signal is neutral, with resistance levels between 658 and 688, and support around 620 [7] - Investors are considering bear certificates with a recovery price near 688, offering leverage of 21 times [7] - There are notable differences in leverage and premium among products with varying recovery prices [7] Group 3: Zijin Mining (02899.HK) - Zijin Mining's stock price reached 29, with a technical signal indicating a sell opportunity [13] - Support levels are at 27.1 and 25.1, suggesting potential buy-in points for investors [13] - The market currently has a limited selection of call options, with a focus on products that may be replenished by issuers [13] Group 4: AAC Technologies (02018.HK) - AAC Technologies shows a neutral technical signal, with resistance levels at 47 and 49.6 [19] - Investors are deploying put options, anticipating a drop to 40 [19] - The market has limited suitable put options available for investors [19] Group 5: NIO Inc. (09866.HK) - NIO's stock reached a high of 60.36, with a technical signal indicating a sell [25] - Resistance levels are identified at 61.5 and 68.3 [25] Group 6: Xiaomi Corporation (01810.HK) - Xiaomi's stock has shown significant volatility, with a technical signal suggesting a buy [31] - Support levels are at 54.4 and 53.2, providing potential entry points for investors [31] - The market offers a variety of put options with leverage exceeding 6 times [31]

Core Viewpoint - The Hong Kong stock market has seen stable trading volumes, with continued inflows from southbound funds, providing indirect support to the Hong Kong Stock Exchange (HKEX) business, although short-term price adjustments are influenced by market sentiment [1] Technical Analysis - The overall technical indicators for HKEX signal a "buy" with a strength of 7, but multiple moving averages indicate a "sell" signal, suggesting potential adjustment pressure in the medium to long term [1] - Various oscillation indicators are neutral, with the RSI at 56, indicating limited short-term market divergence and potential for a rebound [1] - The system assesses a 55% probability of price increase, with a recent volatility of 3.7% over the past five days, indicating moderate speculative opportunities [1] Support and Resistance Levels - The first support level for HKEX is at 434 HKD, and the second support level is at 426 HKD, which are critical defensive levels; a drop below these could lead to further declines [4] - Resistance levels are at 459 HKD, with a higher resistance at 474 HKD; the current stock price is at 449.6 HKD, positioned between support and resistance [4] Product Performance - On August 28, 2025, HKEX saw a 0.98% increase two days later, with recommended products like the Societe Generale call warrant (16781) rising by 9%, HSBC bull certificate (56882) and UBS bull certificate (58003) both increasing by 10%, and UBS call warrant (16698) rising by 8%, demonstrating the leverage effect of warrants and bull/bear certificates [4] Investment Products - For those optimistic about HKEX breaking the 459 HKD resistance, the Societe Generale call warrant (16781) is notable with a leverage of 13 times and an exercise price of 484.08 HKD, featuring low premium and implied volatility [7] - The UBS call warrant (16698) also offers a leverage of 12.5 times, suitable for conservative investors [7] - For those anticipating continued price declines, the HSBC put warrant (19847) is a viable option with a leverage of 7 times and an exercise price of 387.8 HKD, offering low premium and implied volatility [7] - The Bank of China put warrant (19860) also presents a leverage of 6.5 times, with a relatively low premium, effective for capturing price declines [7] Bull and Bear Certificates - For bullish investors, the UBS bull certificate (58003) has the lowest premium and an actual leverage of 10.4 times, with a redemption price of 410 HKD, indicating lower risk [10] - The JPMorgan bull certificate (63465) is also worth considering, with an actual leverage of 11.3 times and a redemption price of 416 HKD, offering good value [10] - For bearish investors, the JPMorgan bear certificate (69320) has high actual leverage of 7.9 times and a redemption price of 510 HKD, effectively capturing price declines [10] - The UBS bear certificate (69819) is also favorable, with a low premium and an actual leverage of 7.8 times, suitable for those confident in short-term corrections [10]

Core Viewpoint - Kuaishou's stock price has shown a significant adjustment, closing at 71.9 HKD with a daily drop of 2.84% and a trading volume of 4.42 billion HKD, indicating market pressure on technology stocks [1][3]. Technical Analysis - Technical indicators suggest a "neutral" signal with a strength of 11, while multiple moving averages indicate a "sell" signal, reflecting medium to long-term pressure [1]. - The RSI value is at 45, also in the neutral zone, indicating mixed market sentiment regarding short-term trends [1]. Support and Resistance Levels - Kuaishou's first support level is at 68.8 HKD and the second at 64.1 HKD, while the first resistance level is at 76 HKD and the higher resistance at 79.7 HKD [3]. - The stock has fallen below 72 HKD, positioning it closer to support levels, suggesting a relatively weak short-term trend [3]. Volatility and Trading Opportunities - The system assessment shows a 57% probability of price increase, with a recent 5-day volatility of 11.2%, indicating significant speculative opportunities [3]. - Historical performance indicates that Kuaishou's price movements can lead to substantial returns through leveraged products, as seen with various warrants and certificates [3]. Leveraged Products - For bullish sentiment, the highest leverage product is the Societe Generale call warrant (24996) with a leverage of 7.6 times and an exercise price of 72 HKD [5]. - For bearish sentiment, the Citigroup put warrant (19156) offers a leverage of 3.4 times with an exercise price of 68.33 HKD, while the Bank of China put warrant (19035) has a leverage of 2.9 times [5][6]. Additional Leveraged Products - HSBC bull certificate (59410) has the highest actual leverage at 7.7 times with a low premium and a redemption price of 66 HKD [8]. - The Societe Generale bear certificate (59208) offers a leverage of 6.1 times with a low premium and a redemption price of 83 HKD, suitable for bearish strategies [8].

Group 1: Market Overview - The Hang Seng Index is experiencing a neutral trend with no clear direction, showing 6 buy signals and 7 sell signals, with support at 24,417 and resistance at 25,300 [1] - Investors are divided, with some expecting the index to drop to 23,000 while others are looking for short-term rebounds [1] Group 2: BYD Electronics (00285.HK) - The stock price rebounded from a low of 39.04, closing at 38.68, with a buy signal indicating a short-term upward trend [3] - The first resistance level is at 40.8, with potential to reach 42.7 if broken, while support levels are at 35.3 and 34.3 [3] Group 3: Sunny Optical Technology (02382.HK) - The stock reached a high of 79.65 and closed at 77.05, with a buy signal indicating a positive short-term outlook [5] - Resistance levels are at 79.2 and 82.5, with a target of 80-90 still some distance away [5] Group 4: Bilibili-W (09626.HK) - The stock is showing a mixed trend, with a buy signal but resistance at 192.3, indicating potential challenges for upward movement [9] - Support levels are at 173.9 and 164.3, with a close proximity to the investor's put option strike price of 162.22 [9] Group 5: China Unicom (00762.HK) - The stock has shown strong performance, reaching a high of 10.17, with a buy signal and potential to challenge 13 [12] - Resistance levels are at 10.20 and 10.9, indicating that reaching 13 will require more time [12] Group 6: Alibaba-W (09988.HK) - The stock closed at 118.5 with a buy signal, indicating a sideways movement [15] - Investors are advised to consider short-term strategies, but should be cautious of time decay in options due to the stock's slow movement [15]

Core Viewpoint - The overall market sentiment for Hong Kong stocks is active, with Meituan showing potential for price increases due to new partnerships and impressive user growth in its delivery and flash purchase services [1][3]. Technical Analysis - Meituan's technical indicators suggest a "buy" signal with a strength of 15, indicating strong market optimism [1]. - Multiple moving averages indicate a "strong buy" signal, suggesting a positive medium to long-term trend [1]. - The RSI value is at 54, reflecting a neutral stance in the short term, indicating some market divergence regarding its future price movement [1]. Support and Resistance Levels - Meituan's first support level is at HKD 125.2, with a second support at HKD 121.8 [3]. - The first resistance level to watch is at HKD 137.2, with a higher resistance at HKD 144.6 [3]. - The current price is approaching the first resistance level, with a 55% probability of breaking through [3]. Recent Performance of Related Products - On July 21, 2025, Meituan's stock price increased by 1.83% two days later, positively impacting related products [3]. - UBS call warrants (58595) rose by 20%, HSBC call warrants (58836) by 14%, UBS call warrants (16391) by 13%, and HSBC call warrants (16986) by 10%, showcasing the leverage effect of these products [3]. Investment Products - For those optimistic about Meituan breaking the HKD 137.2 resistance, HSBC call warrant (16986) is recommended with a leverage of 6.9 times and a strike price of HKD 145.65 [5]. - UBS call warrant (16391) also has a leverage of 6.7 times and is worth considering [5]. - For those anticipating a short-term adjustment, UBS put warrant (16119) and Societe Generale put warrant (16674) are options, both with a leverage of 6.5 times [6]. Additional Investment Options - Investors bullish on Meituan may consider HSBC bull warrant (58836) with a leverage of 8.4 times and a recovery price of HKD 120.5 [8]. - UBS bull warrant (58595) offers a higher leverage of 9.7 times with a recovery price of HKD 123 [8]. - For bearish views, Societe Generale bear warrant (62919) has a leverage of 8.1 times, while JPMorgan bear warrant (64164) offers a leverage of 10.7 times [8].

Core Viewpoint - Zijin Mining (02899.HK) shows strong upward momentum with a closing price of HKD 20.55, reflecting a 4.67% increase, and technical indicators suggest a "strong buy" signal [1][12]. Technical Analysis - The current resistance levels are identified at HKD 20.5 and HKD 21.6, with a potential target of HKD 22.0 if the stock breaks through these levels [1][4]. - The first support level is at HKD 19.3 and the second at HKD 18.6, which may attract buying interest if the stock price retraces to these levels [4]. - The MACD indicator maintains a buy signal, although some oscillators show signs of divergence, indicating potential short-term pullback risks [4][12]. Market Performance - The stock has demonstrated high volatility with a 5-day price fluctuation of 10.1%, providing opportunities for short-term trading [4]. - Technical indicators such as MA10, MA30, and MA60 have formed a bullish arrangement, indicating positive market sentiment [1][12]. Derivative Products - Several call options have performed well, with notable gains such as a 33% increase in a specific call option within two days, significantly outperforming the underlying stock's 6.63% rise [5][8]. - Options with exercise prices in the HKD 21-25 range have shown leverage ratios between 3.4x and 4.9x, indicating potential for high returns [8][11].

Core Insights - Morgan Stanley reported that Xiaomi experienced over 30% year-on-year growth during the recent 618 shopping festival, with domestic business maintaining a strong growth momentum in Q2, accumulating a total payment amount of 35.5 billion RMB [1] - Goldman Sachs indicated that Xiaomi's electric vehicle factory phase two is preparing for production, with the YU 7 expected to be officially launched between late June and early July, which could be positive news for Xiaomi [1] - Technical analysis shows mixed signals; while overall signals indicate a buy with a strength of 15, some oscillators like the RSI are in overbought territory, suggesting potential short-term price adjustments [1][3] Technical Analysis - Xiaomi has two support levels at 52.3 and 54, with resistance levels at 58.4 and 60.4. The current price is 57.1, indicating a delicate balance between support and resistance [3] - The probability of an upward movement is 53%, with a 5-day volatility of 7.3%, reflecting market divergence in sentiment towards Xiaomi [3] Product Performance - Several products mentioned on June 19 performed well, with notable increases in warrants such as Citibank's warrant 13549 and HSBC's put warrant 14333, showing significant price appreciation within two days [3][5] Investment Opportunities - For those anticipating a rise in Xiaomi's stock price, Citibank's warrant 13549 offers the lowest premium with a leverage of 10.6 times and an exercise price of 61.5 [5] - For hedging against potential declines, HSBC's put warrant 14333 is recommended due to its low premium and implied volatility [6] Related Assets - Various warrants and certificates related to Xiaomi are available, including Citibank's warrant 13549 with a leverage of 10.6, and UBS's bear certificate 56421 with a leverage of 13.1 [7][8]

Group 1: Market Overview - The Hang Seng Index (HSI) closed at 23,689, close to the middle line of the Bollinger Bands at 23,718, indicating a neutral technical signal with support at 23,105 and resistance at 24,000 [2] - Investors are divided, with some holding bullish certificates expecting a rebound above 23,800, while others are buying put options anticipating a drop to 19,000 [1] Group 2: Company Analysis - WuXi Biologics (02269.HK) is experiencing a rebound from a low of 23.1, but the overall trend remains bearish with a sell signal from 10 sell and 4 buy indicators, suggesting a cautious outlook with key levels at 21.9 and 20.6 [4] - China Construction Bank (00939.HK) has stabilized above 7.8, with investors speculating a challenge to the 8.0 mark [7] - SMIC (00981.HK) has shown a rebound for two consecutive days, with a buy signal from 12 buy and 3 sell indicators, needing to break resistance at 41.7 and 43.8 to reach 45 [8] - Li Auto-W (02015.HK) has fallen for 10 days, with a current sell signal from 9 sell and 6 buy indicators, indicating a weak trend with support at 101.5 [11] - Sunny Optical Technology (02382.HK) is fluctuating around 65, with a buy signal from 15 buy and 2 sell indicators, suggesting potential upward movement if it breaks resistance at 66.8 [14]

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]