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 Hang Seng Index is expected to challenge the 26,000 point mark, supported by a stable economic outlook in mainland China and a temporary easing of trade tensions between the US and China [2][4] - The market is currently active with a focus on earnings reports from major technology companies, which could provide momentum for future performance [2] Short-term Sector Outlook - Key market focus includes the unemployment rate in Hong Kong for July and earnings reports from companies such as Xiaomi, WuXi Biologics, Sunny Optical, and Pop Mart [3] Macro Focus - Chinese Premier Li Qiang emphasized the need for strong measures to stabilize the real estate market and boost effective investment, indicating a cautious but proactive approach to economic management [4][9] - The IDC reported a 4.1% decline in smartphone shipments in China for Q2, with Huawei regaining the top market position [9][10] Company News - WuXi Biologics reported a 53% increase in interim net profit to 750 million RMB, exceeding expectations [10] - Hansoh Pharmaceutical's interim net profit rose 15% to 3.134 billion RMB, also surpassing forecasts [10] - China Biologic Products saw a 12% increase in half-year profit, beating expectations [10] - Leap Motor recorded a net profit of 33.03 million RMB for the first time, exceeding expectations [10] - Tongcheng Travel's Q2 profit increased by 18%, aligning with expectations, and the company is optimistic about summer travel [10] Industry Developments - The online healthcare sector is experiencing increased penetration in drug sales, with clearer regulatory frameworks emerging [8] - The electric vehicle market is seeing a surge in new car releases in August, with some manufacturers raising their annual sales targets [8] Stock Performance - The Hang Seng Index closed at 25,177, down 0.37% year-to-date, it has increased by 25.51% [6] - The Hang Seng Tech Index rose by 0.65%, with a year-to-date increase of 24.87% [6] Investment Opportunities - Anker Innovations is reportedly considering a listing in Hong Kong, having seen its stock price rise over 50% this year [10] - NIO plans to enter new markets including Singapore, Uzbekistan, and Costa Rica, indicating expansion in the electric vehicle sector [10] - Zero Run Auto achieved a record delivery of 221,600 vehicles in the first half of the year, marking a 156% increase year-on-year [10]

Market Overview - The US stock market indices experienced declines, with the Nasdaq showing the largest drop. President Trump announced a 25% tariff on all non-US manufactured cars, impacting market sentiment [6][9] - European stock markets showed mixed results, while the Hang Seng Index and the National Index both rose, with the Hang Seng Index showing a larger increase [6] - The Shanghai Composite Index and Shenzhen Component Index both fell, with the Shenzhen Component Index experiencing a more significant decline. The Consumer Discretionary Index led gains in the CSI 300, while the Financial and Real Estate indices lagged [6] Economic Data - Key economic indicators from the US included a 2.0% decrease in the weekly MBA mortgage application index and a 0.9% increase in durable goods orders for February, surpassing the market expectation of a 1.0% decline [7] - The non-defense capital goods orders (excluding aircraft) fell by 0.3%, while shipments in the same category increased by 0.9% [7] International Economic News - President Trump plans to impose reciprocal tariffs on all countries, indicating that the rates may be lower than expected. He confirmed a 25% tariff on all non-US manufactured cars [10] - The European Union's trade chief anticipates that the US will impose tariffs of around 20% on EU imports [10] - The Bank of Japan's governor reiterated the need for policy flexibility, while a Chinese central bank advisor indicated readiness to implement more stimulus measures if economic growth slows [10] Corporate News - Hong Kong property developer Chow Tai Fook reportedly avoided a loan default of $940 million and is planning to discuss refinancing with banks [10] - Apple CEO Tim Cook visited an AI center in Hangzhou, China, and announced a donation of 30 million RMB to Zhejiang University [10] - Vivo aims to increase its overseas sales proportion to 70% by 2027, as it seeks to expand globally in response to domestic market saturation [10] Stock Performance - The report includes a detailed table of stock performance for various companies listed in Hong Kong and mainland China, highlighting closing prices, dynamic P/E ratios, and price changes [11]