中銀國際董事Niki：大家如果有關注中芯國際這只股票，就知道它去年的整體表現非常亮眼，漲幅和走勢屢屢創新高。不過到了今年，它的表現既不算特別 弱，也沒有特別突出，近兩日處於高位調整的格局。股價之前最高漲到過94元，之後又回落至34元附近。其實之前也跟大家分享過，市場會繼續支持高科技 晶片行業的發展，中芯國際（981）、華虹等公司在去年也經歷了內部和外部的收購合併，不斷壯大整體的生產生態。所以雖然近期股價確實在回調，但能 看到投資者依然踴躍入場，買入認購證、牛證等產品搏正股反彈。 技術分析與專欄觀點交織：超買警示下的關鍵價位 儘管基本面故事強勁，但從技術分析角度觀察，華虹當前正處於一個極度敏感的位置。1月27日的技術數據顯示，股價在衝高後，多項關鍵指標發出了強烈 的警示信號。技術指標總結信號為 「賣出」 ，且強度達到11，同時多條移動平均線也給出「強力賣出」信號。這與一些第三方技術分析平臺的綜合「強力 買入」判斷形成鮮明對比，突顯了當前市場分歧。更值得關注的是，多項震盪指標一致提示超買風險：RSI高達79，威廉指標和隨機震盪指標均顯示「超買 狀態，賣出信號」，這表明短期內股價已累積了巨大的獲利回吐壓力。 這並非 ...

Market Overview - The Hang Seng Index experienced a significant decline, closing at 26,563 points, while maintaining the critical support level of 26,500 points [1] - Despite the large drop, the overall volatility was limited, and a decrease in trading volume was noted, which is considered a positive signal in a downtrend [1] - Investor sentiment is cautious, with some fearing a potential drop to the 25,800 points range, while others are opting to stay on the sidelines, increasing short-term selling pressure [1] Technical Analysis - The short-term support level for the Hang Seng Index is approximately 26,032 points; if this level is breached, a further decline to around 25,500 points is likely [2] - The index has been operating above the middle line of the Bollinger Bands for an extended period, and maintaining this position is crucial for a stable market trend [2] Stock Analysis: Zhaojin Mining (01818) - Zhaojin Mining has shown relative strength against the backdrop of the Hang Seng Index's decline, with its stock price maintaining an upward trend since mid-December [9] - The stock reached a high of 38.14 HKD on January 19, closing at 37.82 HKD, with a key resistance level at approximately 39.3 HKD [9] - A successful breakout above 39.3 HKD could lead to a target range of 40 to 42.6 HKD [9] Stock Analysis: Zijin Mining (02899) - In contrast to Zhaojin Mining, Zijin Mining has shown weakness, with its stock price declining to 39.32 HKD on January 19 [14] - The stock has entered a correction phase despite rising gold prices, raising concerns among investors about potential risks [14] - The short-term support level is around 36.9 HKD, and if breached, the stock may drop to approximately 34.1 HKD [14] Stock Analysis: BYD (01211) - BYD's stock price successfully broke the 100 HKD mark, closing at 100.07 HKD, which positively influenced market sentiment [21] - The stock is currently at the upper Bollinger Band, indicating potential for consolidation or further upward movement, but also carries the risk of technical adjustments [21] - Key resistance levels are identified at 103.1 HKD and 108.8 HKD for further upward movement [21] Stock Analysis: Baidu (09888) - Baidu's stock price rose to 147.4 HKD, with increased trading volume, despite the overall market weakness [25] - The stock is facing a primary resistance level at 151.9 HKD, and a breakthrough could lead to a target of 164.9 HKD [25] - Current technical signals indicate a predominance of sell signals, suggesting caution for potential investors [25] Stock Analysis: HSBC Holdings (00005) - HSBC Holdings showed strong performance last week, reaching a high of 130 HKD, but adjusted to 127 HKD on January 19 [29] - The stock's short-term outlook appears weak, with a primary support level at 123.1 HKD, which aligns with the middle line of the Bollinger Bands [29] - If the stock falls below this support, it may decline to around 118.9 HKD [29]

一、恆指走勢分析及衍生品投資提示 1月16日恆指呈現沖高回落走勢，最終小幅收跌，跌幅接近0.3個百分點。盤中指數一度沖高至27100 點，接近保利加通道頂部位置，尾盤回落錄得微跌。從近期市場表現來看，恆指整體處於橫盤整理態 勢，日內雖存在一定波幅，但整體波動幅度相對有限。成交量方面呈現先萎縮後小幅回暖的特徵，市場 交投情緒處於溫和修復階段。 當前市場多空分歧較為明顯，多頭投資者認為，經過前期沉悶的震盪格局後，市場有望延續向好趨勢， 預計下週一指數或將高開，因此仍選擇持有牛證過夜佈局。而空頭投資者則持相反觀點，他們從中長期 走勢判斷，本輪行情已積累一定漲幅，後續大概率回補年初缺口，指數可能回落至26300點附近，因此 傾向於佈局收回價27900點的熊證。 需要特別提醒的是，1月16日為週五，若投資者選擇持有牛證、熊證過夜，持倉將跨越週末休市時間， 需重點防範收回風險。在衍生品產品選擇上，建議優先選取收回價遠離當前指數運行區間的合約。從技 術面來看，恆指下方支撐位參考26100點，極端情況下或下探至25700點，因此牛證投資者可重點關注收 回價在26000點以下的產品；上方阻力位則位於27400點和27800點區 ...

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) experienced fluctuations, reaching a high of over 27,000 points but closing at approximately 26,923 points, disappointing some investors [1] - Optimistic investors believe that the HSI will not significantly decline from current levels, maintaining a range around 26,900 points despite volatility [1] - There are mixed opinions in the market, with some expecting a slight increase before a potential downturn, while others see a sideways market that could reverse direction [2] - Technical signals indicate a predominance of "sell" signals, with a support level around 26,200 points, and a potential drop to 25,700 points if the decline continues [2] Group 2: Hua Hong Semiconductor (01347.HK) - Hua Hong Semiconductor's stock price reached a high of 99.95 HKD, close to the 100 HKD mark, maintaining an upward trend since mid-December [6] - The resistance level for Hua Hong Semiconductor is around 105 HKD, and if surpassed, it could rise to 117.7 HKD [7] - Technical analysis currently shows a majority of "sell" signals, indicating caution despite the recent price increase [7] Group 3: Ganfeng Lithium (01772.HK) - Ganfeng Lithium's stock price has shown a strong upward trend since mid-December, reaching a high of 67.55 HKD, with a closing price of 66.8 HKD [14] - The technical signals suggest a majority of "sell" signals, with a support level around 58.4 HKD, and a potential drop to 55.6 HKD if the price declines [15] - Investors are advised to consider their confidence in the stock before making additional purchases, given the recent price increases [15] Group 4: NetEase (09999.HK) - NetEase's stock has been on a downward trend, with a support level around 206 HKD, and a potential drop to 190.7 HKD if it falls below this level [20] - The stock has experienced significant adjustments after reaching a high, indicating a need for caution before making new purchases [20] Group 5: Hong Kong Exchanges and Clearing (00388.HK) - The stock price of Hong Kong Exchanges and Clearing has shown a slight increase, reaching a high of 439.8 HKD, with a closing price of 438.6 HKD [26] - The resistance level is identified at approximately 443 HKD, and if surpassed, the price could rise to 461 HKD [26] - Investors are encouraged to consider products with a redemption price above 460 HKD to mitigate risks [27] Group 6: China Construction Bank (00939.HK) - China Construction Bank's stock price reached 7.85 HKD, having briefly surpassed the upper limit of the Bollinger Bands [33] - The resistance level is around 8 HKD, and if broken, it could rise to 8.25 HKD [33] - A support level is identified at 7.65 HKD, with a potential drop to 7.45 HKD if this level is breached, suggesting investors should choose products with a redemption price below 7.45 HKD [34]

Market Overview - The Hang Seng Index (HSI) showed a positive trend at the beginning of the year, with a significant rise last Friday, breaking through the upper band of the Bollinger Bands, which pleased many investors [1] - Today's performance saw a slight increase in the closing price, but the overall gain was not substantial, leading to some investor disappointment [2] - Despite the stable movement of the HSI, trading volume increased compared to previous periods, which typically suggests a potential for upward movement [2] Technical Signals - The HSI is currently at the upper band of the Bollinger Bands, with 9 sell signals and 4 buy signals indicating a bearish sentiment [3] - Support is estimated around 25,800 points, with a potential drop to 25,500 points if this level is breached, while resistance is at approximately 26,400 points [3] - For bullish investors, buying options below 25,500 points is considered safer, with some options having leverage ratios close to 20 times [4] Individual Stock Analysis Kuaishou (01024.HK) - Kuaishou's stock price has shown significant upward movement, closing at 73.6 HKD, with trading volume breaking previous records [8] - Technical signals indicate 8 sell signals and 5 buy signals, suggesting a bearish outlook in the short term, with a resistance level at 81.4 HKD [9] WuXi AppTec (02359.HK) - WuXi AppTec's stock price reached a high of 104.2 HKD before closing lower, with increased trading volume compared to recent days [13] - The resistance level is identified at 108.2 HKD, with a potential further increase to 112.3 HKD if this level is surpassed [13] AIA Group (01299.HK) - AIA's stock price closed at 89.9 HKD, showing a slight increase, but with a predominance of sell signals (8 sell vs. 6 buy) indicating a cautious outlook [17] - The stock needs to break the resistance at 85 HKD to have a chance of reaching 90.4 HKD [17] Xiaomi (01810.HK) - Xiaomi's stock price closed at 39.3 HKD, with increased trading volume but overall disappointing performance [20] - The support level is around 38.4 HKD, with a potential drop to 35.8 HKD if this level is breached, while resistance is noted at 40 HKD [20] Tencent (00700.HK) - Tencent's stock price saw a slight increase, with a resistance level at approximately 629 HKD, and potential further increase to 657 HKD if this level is surpassed [25] - The technical signals are currently neutral, indicating no clear direction for investors [25]

Group 1 - The semiconductor sector experienced a mixed performance, with SMIC (00981) dropping 4.11% to close at HKD 68.85, with a trading volume of HKD 4.608 billion, indicating significant capital speculation [1] - Hua Hong Semiconductor (01347) saw a decline of 5.41%, while ASM Pacific (00522) increased by 1.61%, highlighting the divergence in stock performance within the sector [1] - Technical indicators for individual stocks show varied signals, with Hua Hong Semiconductor's RSI at 52 indicating a "buy" signal, but its moving average is neutral, suggesting uncertainty in the short-term trend [1] Group 2 - The historical performance of related warrants indicates that when the underlying stock declines, put warrants and bear certificates can benefit significantly, as seen with the notable gains of various products following SMIC's stock drop [3][6] - The core logic of warrants indicates that when the underlying stock rises, call warrants and bull certificates will also rise, while put warrants and bear certificates perform better during declines, with higher leverage potentially leading to greater returns [7] - Recommendations for investors include selecting warrants with lower premiums and reasonable implied volatility to mitigate cost risks, especially in a market focused on technical rebounds without strong earnings support [8]

Group 1 - The Hang Seng Index (HSI) experienced a slight decline, closing at 26,241 points, which is a minor drop of less than 1% after a significant rise the previous day [1][2] - Technical signals indicate a majority "sell" signal, with support around 25,700 points and resistance at approximately 26,700 points, suggesting a potential trading range of about 1,000 points [2] - Investors are advised to choose safer products with recovery prices further from the current levels, such as 25,600 or 25,500 for bullish options, and above 26,700 for bearish options [2] Group 2 - Semiconductor company Hua Hong Semiconductor (01347.HK) showed a slight price drop, closing at 79.45 HKD, with support at around 73 HKD and resistance at 87.5 HKD [6] - Technical signals for Hua Hong indicate a slight majority of "buy" signals, with 8 buy signals compared to 6 sell signals [6][10] - CNOOC (00883.HK) is experiencing an upward trend, closing at 21.18 HKD, with resistance at 21.6 HKD and potential for further gains if it breaks this level [12][16] Group 3 - Bilibili (09626.HK) is showing weak performance, closing at 216 HKD, with potential further declines to 205 HKD if the downward trend continues [18] - China Mobile (00941.HK) is performing well, closing at 87.15 HKD, close to the upper Bollinger Band, with resistance at 88.1 HKD [19][22] - Ganfeng Lithium (01772.HK) closed at 52.7 HKD, near the upper Bollinger Band, with resistance at 55.9 HKD and a prevailing "sell" signal in the market [24][27]

Core Viewpoint - The analysis focuses on the performance and investment opportunities related to specific stocks, including their price trends, resistance levels, and available financial products. Group 1: Bubble Mart (09992) - Bubble Mart's stock price has been on a downward trend, currently around 200 HKD, down from previous highs of 339 HKD and 270 HKD in mid-October [1] - The stock's RSI indicator is low at approximately 17, indicating a potentially oversold condition [1] - Investors are generally bearish, with some holding bearish warrants, and the resistance level is identified at 235 HKD, with potential upward movement to 268 HKD if breached [3] Group 2: CICC (03908) - CICC's stock price has recently decreased to around 20.26 HKD, down from previous highs above 23 HKD [4] - Investors anticipate further declines, with a support level at 19.6 HKD, and a potential drop to 17.6 HKD if this level is breached [4] - Limited product options are available around the 19 HKD mark, with only one product at an exercise price of 18 HKD [7] Group 3: China Pacific Insurance (02328) - China Pacific Insurance's stock has shown positive momentum, closing at 19.28 HKD, close to the upper band of the Bollinger Bands at approximately 19.43 HKD [8] - If the stock continues to rise, it may reach resistance levels of 19.7 HKD and potentially 20.4 HKD [8] - There are several products available with expiration dates in February and March of the following year, with some being in-the-money and others out-of-the-money [11] Group 4: Xiaomi Group (01810) - Xiaomi's stock price has been disappointing, closing at 42.24 HKD, with some investors predicting further declines to 40 HKD or even 30 HKD [12] - The first support level is at 40.6 HKD, and if breached, the next support level is around 37.6 HKD [12] - Currently, there are no products with an exercise price of 40 HKD, but there are options available at 52 HKD and 37 HKD [15]

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) rose to 26,485 points, showing a significant increase, but trading volume did not see a corresponding rise, which is a point of concern for investors [1][2] - Investors are speculating that the index could reach 26,700 points, as there are concerns about the potential recall of bear certificates in that range [2] - Some investors are betting on a market correction due to the recent gains, purchasing bear certificates close to the recall price, which poses a risk of being recalled easily [3][4] Group 2: Tencent Holdings (00700.HK) - Tencent's stock price increased to 644 HKD, aligning with the overall market trend, but investor sentiment is polarized with some waiting for a drop to 620 HKD [11][12] - The technical signals for Tencent are currently neutral, indicating no clear trend direction, with resistance levels at 661 HKD and 683 HKD for potential upward movement [12] - Investors are advised to choose call options with exercise prices closer to the current market price to mitigate risks associated with distant exercise prices [12] Group 3: SMIC (00981.HK) - SMIC's stock price rose to 76.95 HKD, with increased trading volume indicating positive market sentiment [19] - Investors are considering bull certificates with a recall price of 66 HKD, which offers a safety cushion with support levels at 71.4 HKD and 66.9 HKD [19] Group 4: HSBC Holdings (00005.HK) - HSBC's stock price reached 110 HKD, nearing previous highs, with a notable increase in trading volume [25] - Current technical signals indicate a predominance of sell signals, suggesting a potential for short-term correction after breaking the upper Bollinger Band [25] - Resistance levels are identified at 114.1 HKD and 118.2 HKD, while support levels are at 106.2 HKD and 102 HKD [25] Group 5: Zijin Mining (02899.HK) - Zijin Mining's stock price is at 32.06 HKD, approaching the middle line of the Bollinger Band, with resistance at 33.9 HKD [32] Group 6: BYD Company (01211.HK) - BYD's stock price has rebounded to 97.65 HKD after a period of decline, with a strong buy signal in the short term [34] - The resistance level is at 103.3 HKD, and if broken, the price could rise to 108.3 HKD, while support is at 93.1 HKD [35]

Group 1: Hang Seng Index - The Hang Seng Index showed a slight increase but with disappointing performance overall, with a trading volume that continued to decrease [1] - Technical signals for the Hang Seng Index are predominantly "buy," with four buy signals and fewer sell signals, indicating a slight bullish sentiment in the short term [1] - Support levels are estimated around 25326 points, close to the mentioned 25400 points, while resistance is around 26400 points [1] Group 2: Meituan-W (03690.HK) - Meituan's closing price is 101.2 HKD, having returned above 100 HKD, but the stock has been relatively stable with a significant decline from previous highs of around 186 HKD [3] - The potential support level is around 97.1 HKD, and if it falls below 97 HKD, it could drop to 92 HKD or even 88 HKD based on Bollinger Bands calculations [3] Group 3: NetEase-S (09999.HK) - NetEase closed at 217.4 HKD, having reached a high of 248 HKD, and is currently holding above the middle line of the Bollinger Bands [4] - The resistance level is calculated at 227 HKD, and if this is surpassed, it could rise to 237 HKD, indicating a potential upward movement of about 10 HKD [4] Group 4: Contemporary Amperex Technology Co. (03750.HK) - The stock price of Contemporary Amperex is currently at 547.5 HKD, fluctuating within a narrow range of 530-580 HKD [5] - Technical signals are neutral, suggesting a lack of clear direction, and investors are advised to wait for clearer trends before making decisions [5] Group 5: Yancoal Energy (01171.HK) - Yancoal Energy's closing price is 11.38 HKD, with a resistance level at 11.8 HKD, and if this is broken, it could rise to 12.2 HKD [7] - There is a possibility of the stock dropping back to around 10 HKD, with a support level at 10.08 HKD [7] Group 6: Mixue Group (02097.HK) - Mixue Group's closing price is 400.6 HKD, with a resistance level at 428 HKD, indicating potential for a rise above 420 HKD [8] - The technical signals are predominantly "buy," with 11 buy signals compared to 4 sell signals, suggesting a favorable outlook [8]