--- title: "\"Pre-Market Strategy\" US stocks chip rebound, South Korean stocks still decline, Hong Kong stocks have enough rebound strength to challenge 24,000" type: "News" locale: "en" url: "https://longbridge.com/en/news/291858772.md" description: "Broadcom and Apple extend chip cooperation, and Microsoft's AI layoffs benefit US chip stocks rebound, with the Philadelphia Semiconductor Index rising 2.7% and the three major indices closing higher. In the Asia-Pacific region, South Korean stocks fell more than 4% due to expectations of SK Hynix's listing, while Japanese stocks fluctuated narrowly. Chinese concept stocks generally rose, with significant gains for Nio and XPeng. The Hong Kong Hang Seng Index night futures rose slightly, with the market hoping for sufficient rebound strength to challenge the 24,000 mark" datetime: "2026-07-07T01:04:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291858772.md) - [en](https://longbridge.com/en/news/291858772.md) - [zh-HK](https://longbridge.com/zh-HK/news/291858772.md) --- # "Pre-Market Strategy" US stocks chip rebound, South Korean stocks still decline, Hong Kong stocks have enough rebound strength to challenge 24,000 "Economic News Agency, July 7" Broadcom announced that its customized chip cooperation agreement with Apple will be extended until 2031. This news supports the outlook for chip demand. Additionally, Microsoft announced a layoff of 4,800 employees due to expanded AI investments, leading to a recovery in market expectations for AI. The night before, U.S. chip stocks rebounded, with the Philadelphia Semiconductor Index rising 2.7%. The three major indices generally stabilized, with the Dow Jones up 155 points at 53,055, the Nasdaq up 288 points at 26,121, and the S&P up 54 points at 7,537. As for the Asia-Pacific stock markets this morning, they were volatile. Despite the rebound in U.S. chip stocks the night before, South Korean stocks continued to be under pressure ahead of SK Hynix's upcoming listing on the U.S. stock market this Friday. The KOSPI opened lower this morning and its decline expanded to over 4%. Japanese stocks opened slightly lower and then fluctuated within a narrow range. \\\* Chinese concept stocks rose, ADRs developed individually \* Chinese concept stocks generally performed well; Alibaba rose 1.84% to $97.91, Pinduoduo rose 1.64% to $83.74, JD.com rose 0.60% to $26.78, Baidu rose 0.96% to $114.39, NetEase rose 2.94% to $130.99, Kingsoft Cloud rose 0.33% to $9.13, XPeng rose 3.67% to $13.56, Li Auto remained flat at $12.02, NIO rose 4.80% to $5.02, Beike fell 0.46% to $15.02, and Trip.com fell 0.05% to $40.98. ADRs showed mixed performance compared to Hong Kong stocks; Tencent (00700) ADR was 0.16% higher than the Hong Kong stock, equivalent to HKD 452.7; Xiaomi (01810) ADR was 0.56% lower than the Hong Kong stock, equivalent to HKD 23.2; Meituan (03690) ADR was 1.65% lower than the Hong Kong stock, equivalent to HKD 73.7; AIA (01299) ADR was 0.01% lower than the Hong Kong stock, equivalent to HKD 74.0; HSBC (00005) ADR was 1.88% higher than the Hong Kong stock, equivalent to HKD 154.9; Hong Kong Exchanges and Clearing (00388) ADR was 0.15% higher than the Hong Kong stock, equivalent to HKD 377.0. Last night, the Hang Seng Index night futures rose 26 points to 23,571, which is 45 points lower than the spot Hang Seng Index. \\\* Traders are cautiously optimistic about the Hang Seng Index bull market, expecting sufficient upward momentum \* The Singapore HS50 index, known as the "black futures," is currently reported at 23,521, down 4 points, which is 95 points lower than the spot Hang Seng Index. The Hang Seng Index is expected to open nearly 100 points lower. After three consecutive days of gains, Hong Kong stocks have stabilized above the 10-day moving average and are currently heading towards the 20-day moving average and the 24,000 level. It is temporarily expected to decline under the influence of external Asian factors, but as long as it remains above the 10-day moving average, the short-term trend remains positive. Referring to the distribution of bull and bear certificates for the Hang Seng Index, traders did not add further positions in the upward direction during the Hang Seng Index rebound yesterday, and bulls remain cautious. The area of street positions around 23,000 to 23,199, about 200 points, remains the most closely priced area, while the area with the most new positions from 23,000 to 23,099 only saw a net increase of 345 contracts corresponding to the futures contracts, indicating limited incentive for a downward push The wheel traders are tightening their positions, expecting that the Hang Seng Index will still have considerable short-term rebound strength. The next level after 24000 is 24400, which is the support turned resistance from the double bottom in March. 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