Market Performance - Hang Seng Index (恒指) fell by 205 points or 0.8%, closing at 25,952 points[1] - Shanghai Composite Index (滬指) decreased by 16 points or 0.4%, ending at 3,960 points[1] - S&P 500 dropped by 80 points or 1.2%, closing at 6,771 points[2] Trading Volume - Total market turnover in Hong Kong was 239.986 billion HKD[1] - A-shares trading volume reached 852.9 billion CNY for Shanghai Composite and 1.06 trillion CNY for Shenzhen Composite[1] Currency and Monetary Policy - People's Bank of China conducted a 117.5 billion CNY reverse repo operation at a rate of 1.4%[1] - The RMB/USD midpoint was adjusted down by 18 points to 7.0885[1] Automotive Sales - Tesla's sales in China fell by 9.93% year-on-year, delivering 61,497 vehicles[3] - BYD's sales decreased by 12.7% year-on-year, with 436,900 vehicles delivered[3] - Geely's new energy vehicle sales surged by 63.6% year-on-year, reaching 177,900 vehicles[3] Corporate Earnings - Yum China reported Q3 revenue of 3.206 billion USD, a 4% increase year-on-year, with net profit down 5% to 282 million USD[3] - Country Garden's contract sales in October amounted to approximately 2.9 billion CNY, a 33% year-on-year decline[3]

Core Viewpoint - Li Auto's stock price has shown a strong upward trend, supported by market expectations of new vehicle launches and strong sales data, leading to a 4.56% increase in stock price to 97.55 HKD with a trading volume of 25.33 billion HKD [2]. Technical Analysis - The stock price is currently in an upward trend, with various technical indicators suggesting potential for further increases in the short term. The RSI is at 50, indicating a balanced market, while the stochastic oscillator shows a buy signal. The MACD and Bollinger Bands also lean towards buy signals [2]. - Key support levels are identified at 92.5 HKD and 90.4 HKD, while resistance levels are at 102.1 HKD and 104.7 HKD. The system estimates a 57% chance of price increase, with a recent volatility of 7.3% over the past five days [2]. Derivative Products - For investors looking to capitalize on Li Auto's potential rise, Societe Generale's bull certificate (55164) has a leverage of up to 5 times with a low premium and a redemption price of 84.9 HKD. UBS's bull certificate (54962) offers a similar leverage of 5.1 times with the same redemption price, providing a safety cushion relative to the current stock price [10]. - For bearish investors, JPMorgan's bear certificate (64393) offers a high leverage of 8.2 times with a redemption price of 105 HKD, making it an attractive option for those anticipating a short-term decline [10]. Market Sentiment - The overall market sentiment towards Li Auto remains positive, with technical indicators suggesting short-term upward momentum and various derivative products available for both bullish and bearish strategies [14].

Market Overview - The Hang Seng Index faces short-term resistance at 25,735 points, with limited corporate profit improvement and a lack of strong economic stimulus from mainland China [1] - Active trading in the Hong Kong market indicates a positive risk appetite, with capital rotating across different sectors [1] - The US and China have initiated a new round of trade negotiations, agreeing to extend the 90-day tariff truce established in mid-May [1] Sector Focus - The focus for the day includes the US July CPI and core CPI, the UK June ILO unemployment rate, and earnings reports from companies such as China Unicom, Galaxy Entertainment, and WH Group [2] - The July sales of new energy vehicles in mainland China increased by 27%, indicating strong growth in this sector [2] Corporate News - Luxshare Precision plans to issue H-shares for listing in Hong Kong to enhance its international brand image and competitiveness [9] - Hillhouse Technology reported a nearly 1.7 times increase in interim profit, raising sales targets for two business segments [9] - Kingdee International narrowed its half-year loss to 97.73 million RMB, which was below expectations [9] - Tingyi Holding's interim profit increased by 20%, meeting expectations, while Yuyuan Group's interim profit fell by 7%, which was better than expected [9] - Sany International issued a profit warning, expecting a more than 25% increase in interim profit [9] Economic Indicators - The US Federal Reserve maintained interest rates in July, indicating a cautious approach towards future rate cuts due to high inflation uncertainty [3] - The People's Bank of China conducted a reverse repurchase operation of 112 billion RMB, maintaining the interest rate at 1.4% [7] - In July, China's total vehicle sales reached 2.593 million units, a year-on-year increase of 14.7%, with new energy vehicles accounting for 48.7% of total sales [7] Stock Market Performance - The Hang Seng Index closed at 24,906 points, up 0.19%, with a total market turnover of 200.9 billion HKD [5] - The US stock market showed a slight decline, with major indices falling between 0.3% and 0.5% [5] Investment Strategies - The Hang Seng Index Company launched two new indices based on the Hang Seng Technology Index, aiming to retain growth potential while generating option premium income [9]

Market Overview - The Hang Seng Index is facing resistance at 24,700 points, with a projected P/E ratio of 11 times over the next 12 months [2] - The US-China trade talks have seen limited progress, and there is a lack of willingness from China to implement further economic stimulus measures [2] - The inflow of capital from the north has slowed down, indicating limited improvement in corporate earnings [2] Macro Focus - The US has announced tariffs on Japan and South Korea at 25%, and on Laos and Myanmar at 40%, effective August 1 [4][8] - The US Treasury Secretary anticipates discussions with Chinese officials to advance trade and other issues [4][8] - The US Federal Reserve has maintained interest rates, with expectations of two rate cuts totaling 0.5% this year, reflecting a cautious stance on inflation uncertainties [4][8] - The Chinese central bank increased its gold reserves by 70,000 ounces in June, continuing a trend of accumulation [4][8] Sector Highlights - The biotechnology sector is expected to benefit from new measures supporting the high-quality development of innovative drugs [7] - Macau's gaming revenue in June increased by 19% year-on-year, exceeding expectations [7] - The power sector is seeing increased demand due to high temperatures [7] Company News - Lens Technology (6613) priced its shares at HKD 18.18, a discount of nearly 28% compared to A-shares [10] - Dongfeng Motor (0489) aims to maintain its annual sales target of 3 million vehicles, with a focus on 1 million new energy vehicles [10] - Xiaomi (1810) reported a 20-fold increase in air conditioner sales in Northeast China due to unprecedented high temperatures [10] - NIO (9866) plans to officially launch its third factory in Hefei in September [10] - JD Logistics (1519) reported a 23.5% year-on-year increase in parcel volume for the second quarter [10]

Core Viewpoint - The article discusses the recent performance and technical analysis of XPeng Motors (09868.HK), highlighting key resistance and support levels, as well as trading signals for investors. Technical Analysis - XPeng Motors has a significant resistance level at approximately 83.3 HKD, where the stock has historically faced downward pressure [1] - The stock price is currently above the 10-day moving average (77.89 HKD) and the 30-day moving average (77.67 HKD), indicating a bullish trend [1] - The MACD indicator shows a strong buy signal, while the Ichimoku Cloud also indicates bullish momentum [1] - The 60-day moving average (79.31 HKD) is a critical short-term resistance level [1] - The RSI is at 54, suggesting there is still room for upward movement [1] Support and Resistance Levels - The first support level is at 76.3 HKD, with a stronger support at 71.9 HKD [3] - If the stock breaks through the 83.3 HKD resistance, it may challenge the next level at 86.9 HKD [3] - The current 5-day volatility is 6.8%, providing opportunities for short-term traders [3] Derivative Products - Investors looking for bullish positions can consider the Xinjing Call Option (13403), which offers a leverage of 5.5 times with a strike price of 88.88 HKD [6] - For higher leverage, the Huatai Call Option (15737) provides 3.5 times leverage with the lowest implied volatility [6] - Short-term bullish investors may find the UBS Bull Certificate (55811) attractive, offering 6.5 times actual leverage with a redemption price of 70 HKD [6] Market Sentiment - The overall market sentiment for XPeng Motors is positive, with active trading in the new energy vehicle sector [1] - The stock has shown a 1.89% increase, reaching 80.9 HKD, indicating strong market interest [1][11] - The article encourages investors to share their views on XPeng's short-term trends and potential to break the 83.3 HKD resistance [13]