即時行情與技術觀察 精選窩輪產品分析 摩利認購證17483提供4倍實際槓桿，行使價10.99元接近現價，具有全市場最低溢價優勢，適合短線參與突破行情。中銀認購證17351則以3.3倍更穩健的槓桿 水準，為保守型投資者提供選擇。瑞銀認購證17646，行使價10.95元，槓桿有2.83倍，同個行使價的產品還有中銀認購證17640，行使價10.95元，槓桿2.8 倍，溢價28.93%。 石藥集團股價報10元，上漲0.71%，延續近期強勢表現。從技術面來看，股價已突破所有主要均線，10日均線9.29元與30日均線8.5元形成完美多頭排列。值 得注意的是，RSI指標74已進入超買區域，威廉指標同樣顯示超買狀態，但MACD維持強勢買入信號，快慢線持續向上發散，反映上漲動能仍然充沛。 關鍵價位分析 當前下方9.1元構成重要支撐位，該位置同時彙聚30日均線及心理關口；更強支撐位於8.5元年線位置。上方阻力先看11.1元前高，突破後將挑戰12元整數關 口。布林通道呈現明顯擴張態勢，股價緊貼上軌運行，配合21.5%的5日超高振幅，顯示短期波動可能進一步加劇。成交額11.93億元保持活躍，為衍生品操 作提供充足流動性。 窩輪市場表 ...

Core Insights - The report highlights a positive market sentiment following the trade agreement between the US and EU, contributing to new record highs in US stock indices [9][11] - The report notes that while US stock indices are reaching new highs, there are warnings from Goldman Sachs about accumulating short-term risks in the market [11] - The report discusses the ongoing trade negotiations between the US and China, emphasizing the importance of outcomes for market stability [11][14] Market Overview - The Hang Seng Index closed up by 173 points (0.7%), while the Hang Seng Tech Index recorded three consecutive declines [14] - The report indicates that Hong Kong's exports have increased for 16 consecutive months, with June's export value reaching HKD 417.8 billion, a year-on-year increase of 11.9% [14] - The report mentions that the MSCI China Index's 12-month target has been raised from 85 to 90 points, indicating an 11% upside potential [14] Company Recommendations - The report recommends buying Kowloon Warehouse Holdings (1997) due to its stable cash flow from core assets in Hong Kong [22] - It suggests that AIA Group (1299) is benefiting from increased demand from mainland visitors and local market recovery, with a notable growth in new business value [22] - Prologis, Inc. (PLD) is highlighted as a leading industrial logistics REIT with a market capitalization exceeding USD 100 billion [24] Economic Data - The report outlines key economic data releases, including US wholesale and retail inventory figures for June, and the FHFA House Price Index for May [21] - It notes that the US Treasury Department estimates a debt issuance of USD 1.007 trillion for the third quarter, an increase of USD 453 billion from previous estimates [11]

Market Overview - The Hang Seng Index is expected to test the June low of 22,668 points, influenced by a series of financial policies introduced in mainland China to stabilize the market, including reserve requirement ratio cuts and interest rate reductions [2] - The U.S. and China have agreed to lower tariffs, with U.S. tariffs on Chinese imports decreasing from 145% to 30%, and Chinese tariffs on U.S. goods dropping from 125% to 10% for a 90-day period [2] - The Hang Seng Index's valuation has returned to a reasonable level, but rising geopolitical tensions may increase risk aversion among investors [2] Sector Focus - The report highlights a positive outlook for certain sectors, particularly in light of the U.S. manufacturing PMI data for June [3] Corporate News - Pop Mart (9992) has established a film studio to produce the animated series "Labubu and Friends" [5] - China Shenhua (1088) plans to maintain cash dividends of no less than 65% of net profit attributable to the parent company [5] - Union Pharmaceuticals (3933) received a $180 million advance payment from Novo Nordisk as part of an exclusive development agreement [5] - ZhongAn Online (6060) experienced a 3.8% reduction in shares held by Ant Group, raising approximately 655 million yuan [5] Macroeconomic Focus - The U.S. Federal Reserve maintained interest rates, indicating reduced uncertainty in the economic outlook but acknowledging persistent inflation risks [4] - The report notes that the core PCE forecast for 2025-2027 has been adjusted upward, with expectations of two rate cuts this year totaling 0.5 percentage points [4] - The report discusses the ongoing trade negotiations between the U.S. and various countries, with some progress noted but still subject to change [4] Economic Indicators - The Hang Seng Index closed at 23,530 points, up 1.26% year-to-date, while the Hang Seng Tech Index rose 0.88% [7] - The report indicates that the consumer price index in Hong Kong rose by 1.9% year-on-year in May, lower than expected [10] - The report highlights that the Chinese retail sales during the "618" shopping festival increased by 15.2% year-on-year, with total sales reaching 855.6 billion yuan [10] Company Developments - Lens Technology is reportedly assessing investor interest in its Hong Kong listing, with a total revenue of 69.897 billion yuan last year, up 28.27% [12] - Weichai Power's subsidiary, Weichai Lovol, has submitted a listing application to the Hong Kong Stock Exchange [12] - Kuaishou's e-commerce platform reported significant growth during the "618" shopping festival, with over 60% more merchants achieving sales exceeding 100 million yuan [12] - Douyin's e-commerce platform also reported that nearly 2,406 brands achieved sales exceeding 100 million yuan during the same period [12]