Group 1: Market Overview - The Hang Seng Index (HSI) shows strong investor sentiment with a trading volume of 200 billion, stabilizing around 25,000 points, closing at 25,081 points [1] - Investors are advised to consider support levels at 24,481 and 24,200 points when selecting products, with resistance levels at 25,475 and 25,900 points [1] Group 2: Company Analysis - Sands China (01928.HK) has seen its stock price rise, breaking through 20 HKD, with buy signals and resistance levels at 21.7 HKD and 22.3 HKD [4] - Tencent Holdings (00700.HK) experienced volatility, with a trading range between 572 HKD and 560 HKD, and buy signals with resistance at 573 HKD and 603 HKD [7] - Hua Hong Semiconductor (01347.HK) is on an upward trend, with buy signals and resistance levels at 47.2 HKD and 51.9 HKD, aiming for 50 HKD in the short term [9] - Pop Mart (09992.HK) reached a high of 293.4 HKD, with buy signals and support levels at 259 HKD and 243 HKD [12] - Shandong Gold (01787.HK) has seen a four-day price increase, closing at 28.94 HKD, with strong buy signals and resistance levels at 29.1 HKD and 31.6 HKD [15]

Core Viewpoint - SMIC (00981.HK) is experiencing a significant improvement in its technical performance, driven by a recovery in the semiconductor sector, indicating a healthy upward trend [1] Technical Analysis - The stock price has stabilized above the 10-day moving average (41.84 HKD) and the 30-day moving average (41.48 HKD), approaching the 60-day moving average (43 HKD), reflecting a positive short to medium-term trend [1] - Out of 16 technical indicators, 9 indicate "buy" or "strong buy," with the moving average system summarizing as "strong buy," providing a solid basis for trend-following strategies [1] - The stock price reached 43.85 HKD at 10:22 AM on the reporting day, with a trading volume of 7 billion HKD, indicating significant capital inflow [1] - The RSI is at 67, close to overbought territory, yet market momentum remains strong, suggesting potential for further upward movement [3] - The Bollinger Bands are expanding, with the stock price positioned between the upper and middle bands, indicating potential resistance levels at 48.1 HKD and 50.5 HKD [3] - Key support levels are identified at 38.9 HKD and 42.1 HKD, with 42.1 HKD being a crucial short-term support level due to overlap with multiple moving averages [3] - The Ichimoku Cloud indicates that prices are stable above the cloud, confirming the continuation of the bullish pattern [3] Derivative Products Performance - Following a 6.71% increase in the underlying stock over two trading days, leveraged products linked to SMIC, particularly bull certificates, have shown significant gains, with HSBC's bull certificate (62405) rising by 36% and UBS's bull certificate (63551) increasing by 33% [4] - In contrast, call options have shown more moderate increases, with HSBC's call option (13200) and a call option from another issuer rising by 15% and 18%, respectively [4] Product Characteristics - HSBC's call option (16269) offers a leverage of 4.4 times with an exercise price of 51.93 HKD, suitable for investors optimistic about SMIC's future while aiming to reduce derivative costs [7] - The put option from another issuer (13733) has an exercise price of 42.18 HKD and a leverage of 3.1 times, appealing to cautious bearish investors [7] - The bull certificates, such as those from Societe Generale (60185), have a buyback price of 38.3 HKD and a leverage of 5.7 times, making them attractive for short-term bullish investors [11] Overall Market Sentiment - The overall sentiment indicates that bull certificates, due to their higher leverage and direct tracking of the underlying stock, can amplify returns in a clear upward trend, while call options may provide more stable returns if the underlying stock continues to strengthen [15]

Core Viewpoint - The analysis of Tencent Holdings (00700) indicates a bearish sentiment in the market, with technical signals suggesting potential price declines and key support levels identified for investors to consider entry points [1][2]. Technical Analysis - As of July 2, Tencent's stock price was reported at 503 HKD, showing a slight decline of 0.1%. The stock is at a critical decision point, with short-term support at 486 HKD and mid-term support at 469 HKD. Resistance levels are identified at 517 HKD and 534 HKD [2]. - The RSI indicator is at 48, indicating a neutral to weak sentiment, while multiple moving averages are entangled, suggesting indecision in the market. The 10-day moving average at 506.8 HKD is acting as short-term pressure [2]. - The MACD and Bollinger Bands are signaling a sell, reinforcing the notion that the market is in a corrective phase [2]. Derivative Products - In the derivatives market, Tencent's stock decline of 2.24% on June 27 led to significant performance in bear certificates, with Morgan Stanley's bear certificate (58426) rising by 26% and UBS's bear certificate (58470) increasing by 24% in the following two trading days, showcasing the leverage effect of these instruments in a downward market [2]. - For call options, Bank of China offers two products: one with a strike price of 563.5 HKD providing a leverage of 15.8 times, suitable for aggressive investors, and another with a slightly lower leverage of 13.8 times but with the lowest premium and implied volatility in the market [4]. - In the put options category, UBS's put option (16669) leads with a leverage of 14.3 times, maintaining a safe margin with a strike price of 443.13 HKD, while Bank of China's option (17569) offers a more conservative hedge with a leverage of 12.2 times [4]. Bull and Bear Certificates - Among bull certificates, UBS's product (69944) offers a high leverage of 19.4 times with a redemption price of 484 HKD, making it a preferred choice for aggressive strategies. Another product (54536) has a slightly lower leverage of 17.7 times but attracts conservative funds due to its lowest premium characteristics [6]. - For bear certificates, Société Générale's (60438) and UBS's (61324) products both provide impressive leverage of 28.8 times, with reasonable redemption prices of 522 HKD and 520 HKD, respectively, suitable for capturing potential technical pullbacks [6]. Market Sentiment - The 60-day moving average at 495 HKD is still on an upward trend, raising questions about whether a stronger rebound may follow the current technical consolidation. Investors are encouraged to consider their strategies, whether to use bull certificates for bottom-fishing or bear certificates for shorting [9].

Core Viewpoint - Hong Kong Stock Exchange (HKEX) shares are experiencing a strong upward trend, with a current price of 412 HKD, having broken through key moving averages, indicating bullish momentum in the short term [1][2]. Technical Analysis - The stock has surpassed MA10 (399.9 HKD) and MA30 (379.11 HKD), forming a strong upward trend. The RSI is at 75, entering the overbought zone, with technical indicators signaling a "strong buy" [1]. - Key support is at 396 HKD, with potential downside to 383 HKD if this level is breached. Resistance is focused at 421 HKD, with a breakthrough potentially leading to a challenge at 432 HKD [2]. - The stock has shown a volatility of 5.1% over five days, indicating a brewing breakout in the market, while the Bollinger Bands are expanding, suggesting increased price fluctuations [2]. Market Performance - From June 5 to June 7, HKEX shares rose by 1.73%, positively impacting related bull certificates and call options, with notable gains in leveraged products such as the BNP Paribas bull certificate (58522) soaring by 29% [4]. - Call options like the UBS call option (13628) have shown a 22.38% increase, with a leverage of 8.52 times, indicating strong performance in the options market [6]. Derivative Products - For bearish strategies, put options such as Citigroup's put option (16606) offer a leverage of 9.9 times, providing investors with a way to hedge against potential declines in HKEX shares [9].