Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) shows a stable technical trend with a slight pullback, indicating potential investment opportunities for conservative investors [1][3]. Technical Analysis - As of 10:17 AM, HKEX's stock price is at 442 HKD, down 0.58% [1]. - The Relative Strength Index (RSI) is at 55, indicating a healthy bullish zone [1]. - Moving averages (MA10 at 442.32 HKD, MA30 at 438.29 HKD, MA60 at 430.08 HKD) are in a bullish arrangement, providing strong support [1]. - Despite a "sell" signal from technical indicators, multiple oscillators show a neutral pattern, with MACD issuing a buy signal [1]. - Key support levels are identified at 435 HKD and 423 HKD, while resistance levels are at 457 HKD and a potential target of 466 HKD if broken [1]. Derivative Products Performance - On September 8, when HKEX's stock price rose by 1.93%, related derivative products performed well, with notable returns: 29% for the BNP Paribas call option (16781) and 26% for the UBS call option (16698) [3]. - HSBC's bull certificate (53124) and UBS's bull certificate (62570) achieved returns of 22% and 21%, respectively, demonstrating significant excess returns even in a moderate upward trend [3]. Investment Options - Investors are advised to focus on two quality call options: UBS call option (16698) with a strike price of 484.08 HKD offering 14x leverage and HSBC call option (17539) with the same strike price but 14.6x leverage, appealing to bullish investors [6]. - For bearish investors, UBS put option (18808) and Bank of China put option (18983) with a strike price of 368.48 HKD provide approximately 9x leverage, suitable for short positions [6]. Bull and Bear Certificates - Bull certificates from HSBC (65210) and UBS (55128) have a redemption price of 422 HKD, maintaining a safe distance from current prices, with actual leverage of 15.9x and 16.2x, respectively, making them attractive for low-cost leveraged investments [8]. - Bear certificates from UBS (60541) and Societe Generale (60816) have a redemption price of 470 HKD, offering leverage exceeding 16x, but investors are cautioned to manage positions carefully due to potential risks [8].