Core Viewpoint - HSBC Holdings (00005) has declared a dividend of HKD 0.777722 per share, which is seen as a positive signal for investors, supported by a recent upgrade from Bank of America Securities to a "Buy" rating, highlighting growth potential in Hong Kong's deposit business and Asian wealth management [1] Group 1: Financial Performance and Market Sentiment - The stock price of HSBC reached HKD 118 on December 18, reflecting a 0.43% increase, with a trading volume of HKD 605 million, indicating active market participation [2] - Short-term investors are optimistic about the stock's potential to break through the HKD 120 mark, driven by dividend distribution and business growth expectations [1] - Investors are eyeing opportunities around the HKD 113 level for potential buying, with a focus on the resistance level at HKD 121.5 for further accumulation [1] Group 2: Technical Analysis - The technical indicators show mixed signals, with a general "Sell" signal but a low strength of 10, indicating weak bearish momentum; several core indicators suggest a "Buy" signal [2] - Clear support and resistance levels are identified, with the first support at HKD 113.1, coinciding with the 10-day moving average, and a second support at HKD 109.4 near the 60-day moving average [2] - The first resistance level is set at HKD 121.5, with a potential target of HKD 125.6 if the stock successfully breaks through [2] Group 3: Derivative Products - Various structured products, including warrants and certificates, are available to cater to different investor needs, allowing for both bullish and bearish strategies [4][6] - Specific products like the Guotai Junan call warrant (28491) and the UBS put warrant (22223) are highlighted for their favorable leverage and cost efficiency, suitable for investors with varying risk appetites [6][7] - The performance of these products has shown resilience, with some achieving significant gains even when the underlying stock experienced declines [4]

Core Viewpoint - The article discusses the mixed performance of technology stocks in the Hong Kong market, particularly focusing on Xiaomi Group (01810), which is facing significant technical challenges and support levels [1]. Company Performance - Xiaomi's stock price was reported at 52.52 HKD, up 1.56%, but is currently below key moving averages, indicating a bearish short-term trend [1]. - Major investment banks have provided mixed outlooks: - CMB International noted strong performance in Xiaomi's automotive segment and adjusted the target price from 67 HKD to 60 HKD while maintaining a "Buy" rating [1]. - Cathay Securities highlighted substantial overperformance in automotive profitability and adjusted the target price to 77.5 HKD, maintaining an "Overweight" rating [1]. Technical Analysis - Support levels are identified at 49.8 HKD and 48.1 HKD, which are critical for bulls to defend [3]. - Resistance levels are seen at 53.9 HKD and 57.1 HKD, with the current price nearing key support, suggesting potential for a short-term rebound [3]. - The RSI indicator is at 39, indicating heavy selling pressure but nearing oversold territory, while volatility indicators suggest a severe oversold condition that may lead to a bottoming out [3]. Derivative Instruments - Investors anticipating a technical rebound may consider call options with a strike price of 60 HKD, offering a leverage of 3.8 times [6]. - For bearish investors, put options with a strike price of 46.45 HKD are available, providing a leverage of 3.1 times [6]. - Bullish investors can look at UBS bull certificates with a redemption price of 49 HKD, offering a leverage of 16 times [8]. Market Sentiment - The article invites investors to consider the current technical position of Xiaomi and whether the support zone of 48.1-49.8 HKD can hold, or if further declines are expected [11].

Market Overview - The overall market is performing well, with the Hang Seng Index rising to nearly 24,200 points, showing increased trading activity with a total turnover of 230 billion [1][3] - Investor sentiment appears optimistic, with expectations of testing the 24,500 level in the short term [1][3] Investment Products - There is a notable flow of funds in the warrants and structured products market, with some investors taking profits from bullish positions while others are starting to deploy bearish positions near the 24,400-24,500 range [3] - Specific products such as put warrants are gaining attention due to their lack of recall risk and potential for leverage, with examples showing leverage of around 10 times [3][4] Stock Performance - Hong Kong Exchanges and Clearing (HKEX) shares rose by 4%, closing around 414 HKD, with a strong performance in related warrants [7][8] - Xiaomi's stock increased by approximately 3.74%, closing at 56.9 HKD, driven by anticipation of an upcoming product launch [12][16] - China Hongqiao's stock price has risen from 9 HKD to around 17 HKD, with a 35% increase in mid-term profits reported [16][17] - Meituan's stock has been underperforming, with a recent decline of 1%, but there is a flow of funds into bullish warrants as investors see potential at the 130 HKD level [19] - China Life's stock has risen from 13 HKD to around 19 HKD, with some investors starting to deploy bearish positions [23] - BYD's stock is fluctuating between 120-130 HKD, with recent inflows into bullish positions as it shows signs of potential rebound [27][28] Technical Analysis - Support and resistance levels for the Hang Seng Index are identified at 23,634 and 24,474 points respectively [4] - For individual stocks, technical signals indicate a "buy" for China Hongqiao and China Life, while Meituan shows a "sell" signal [19][23] - The leverage ratios for various warrants are highlighted, with some products offering leverage of 4 to 11 times, depending on the underlying stock and expiration dates [9][12][27]