BI#HSI RC2801D(68305.HK)

The Hong Kong Hang Seng Index opened down 0.65%, and the Hang Seng Tech Index fell 0.88%

Hong Kong Stock Exchange (388.HK): Previous highs under pressure with fluctuations, whether trading volume can increase is key

The Hong Kong Stock Exchange made several attempts to surge to previous highs during the session yesterday, ultimately closing slightly higher. However, due to the overall trading volume not significantly increasing, the short-term pace appears somewhat cautious. The trading atmosphere in the market has warmed up, with northbound funds showing a net inflow again, driving a positive performance in the morning. As a core target of the market, the Hong Kong Stock Exchange has always been a focus for active funds, especially stimulated by news of new stock listings, which has enhanced the market heat around the exchange through weight rotation. In the afternoon, some funds chose to take profits, leading to increased volatility at high levels. From a sector perspective, the interaction of northbound and southbound funds has become a long-term favorable logic for the Hong Kong Stock Exchange. The market generally expects that trading volume is likely to expand further in the future, but the Hang Seng Index experienced significant fluctuations during the day. Under the influence of T+0 trading policies and other catalysts, the short-term capital game has noticeably heated up. The entire day's trend was repetitive, with significant resistance at high levels, and a fierce tug-of-war between bulls and bears at key positions. The intraday trading volume did not show smooth expansion, indicating that a phase breakthrough is waiting for the main funds to follow through. From a technical perspective, the Hong Kong Stock Exchange currently maintains a bullish structure, dominating market sentiment. Indicators are generally in an upward channel, but in high zones, the adjustment sentiment of funds has intensified, and the willingness to take profits on holdings has increased. Whether an effective breakthrough can be formed in the future needs to be observed in terms of volume follow-up and new policies providing support. In the medium to short term, if trading volume continues to expand, key positions are expected to achieve a real breakthrough; if volume shrinks, there may be repeated fluctuations at high levels. Investors should pay attention to policy trends and the overall capital aggregation effect in the Hong Kong stock market

The Hang Seng Index main futures closed down 0.81% in the overnight session, reporting 27,829 points. The Hang Seng TECH Index main futures closed down 1.04% in the overnight session, reporting 5,799 points

Asia Mostly Rises as U.S. Fed Stands Pat

Asia-Pacific markets mostly rose following the U.S. Federal Reserve's decision to keep its benchmark rate steady at 3.5% to 3.75%. Spot gold prices reached a record high, surpassing $5,500 per ounce. The Nikkei 225 in Japan rose slightly, while Samsung Electronics reported a significant profit increase but ended lower. The Hang Seng index in Hong Kong and the CSI 300 in Shanghai both gained, while the Kospi in Korea advanced. Singapore's Straits Times Index also saw a modest rise, contrasting with declines in Taiwan, Australia, and New Zealand.

The Securities and Futures Commission indicated that it encountered repeated obstruction from brokerages during the inspection period and issued a warning for the most serious cases of suspension

The Securities and Futures Commission today issued a circular to all licensed corporations, reminding them to fully cooperate during inspections and comply with statutory responsibilities. Recently, it has been found that some corporations have engaged in improper behaviors such as delaying responses and submitting inaccurate documents, and even deliberately obstructing inspections. The Securities and Futures Commission emphasized that it will take such obstructive behaviors seriously and may impose measures such as restricting licenses and suspending the acceptance of new clients. In severe cases, criminal prosecution or disciplinary action may be faced. The management of licensed corporations must personally ensure cooperation and bear the responsibility for non-cooperation