Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has shown strong financial performance with a significant increase in revenue and profit, while the stock price is currently facing downward pressure from technical indicators [1][2]. Financial Performance - For the first half of 2025, HKEX reported revenue of HKD 14.076 billion, a year-on-year increase of 33% [1]. - The profit attributable to shareholders reached HKD 8.519 billion, reflecting a 39% year-on-year growth, marking a record high for the company [1]. Market Sentiment - There are currently 230 companies in the IPO application queue, indicating a positive outlook for the new stock market [1]. - The stock price of HKEX was reported at HKD 455.4, down 1.60% on the previous trading day, and further down to HKD 454.2 in early trading today, a decrease of 0.26% [1]. Technical Analysis - Technical indicators suggest a "sell" signal with a strength of 10, indicating a potential downward trend in the medium to long term [1]. - Multiple oscillators are showing "buy" signals, with the RSI at 69, indicating a neutral market direction in the short term [1]. Support and Resistance Levels - The first support level for HKEX is at HKD 440, with a lower support at HKD 429. The first resistance level is at HKD 470, with a higher resistance at HKD 480 [2]. - The system estimates a 55% probability of price increase, with a recent volatility of 8.5% over the past five days, suggesting some speculative opportunities in the market [2]. Derivative Products Performance - On August 22, 2025, HKEX saw a 1.65% increase, with various structured products like warrants and bull/bear certificates showing significant leverage effects, amplifying returns [4]. - Specific warrants such as the Barclays call warrant (16781) have a leverage of 12.4 times, while UBS call warrant (16698) has a leverage of 11.6 times, indicating high potential for upward movement [7]. Investment Options - For bullish investors, the Barclays call warrant (16781) and UBS call warrant (16698) are recommended due to their high leverage and relatively low premiums [7]. - For bearish strategies, the Credit Suisse put warrant (19716) offers a leverage of 5.8 times, making it a viable option for those anticipating a downward adjustment in HKEX's stock price [8].