--- title: "Hong Kong and US stock market trends and strategies: The logic of capital return is clear, and accumulating positions at low levels is more stable." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/32078826.md" description: "On July 21, the three major indices of the Hong Kong stock market rose simultaneously. The Hang Seng Index closed up 0.68% at 24,994.14 points, while the Hang Seng Tech Index and the HSI rose 0.84% and 0.6%, respectively. Capital flows were positive, with southbound net inflows of HKD 7.051 billion on the day, providing effective support for the market. From a trend perspective, the Hang Seng Index leveraged the catalyst of the Yarlung Tsangpo hydropower project to drive the weighted infrastructure sector to break through previous highs, boosting market sentiment. Technically, attention should be paid to..." datetime: "2025-07-22T09:23:25.000Z" locales: - [en](https://longbridge.com/en/topics/32078826.md) - [zh-CN](https://longbridge.com/zh-CN/topics/32078826.md) - [zh-HK](https://longbridge.com/zh-HK/topics/32078826.md) author: "[BullTalk港美笔记](https://longbridge.com/en/profiles/18099035.md)" --- # Hong Kong and US stock market trends and strategies: The logic of capital return is clear, and accumulating positions at low levels is more stable. **1\. Hong Kong Market Performance** On July 21, the three major Hong Kong stock indices rose simultaneously, with the Hang Seng Index closing up 0.68% at 24,994.14 points, while the Hang Seng Tech Index and the HSI rose 0.84% and 0.6%, respectively. Capital inflows were positive, with the Southbound Stock Connect recording a net inflow of HKD 7.051 billion, providing effective support for the market. From a trend perspective, the Hang Seng Index leveraged the catalyst of the Yarlung Tsangpo hydropower project to drive the infrastructure sector to break through previous highs, boosting market sentiment. Technically, the gap formed by last Friday's and yesterday's rise is likely to be filled in the short term, with the correction expected to complete next week. Operationally, the probability of consolidation after new highs has increased, so it is advisable to avoid chasing highs and instead seize buying opportunities during pullbacks, especially after emotional declines. From a medium- to long-term perspective, Hong Kong stocks are undervalued, and with policy support and expectations of capital inflows, structural opportunities are worth noting. **2\. Hong Kong Market Insights: Policy-Driven Capital Inflows, Stock Connect as the Core Channel** Recent overseas investment tax policies have been clarified: Hong Kong and overseas brokerage accounts (starting with those exceeding RMB 6 million) will be subject to a 20% personal income tax on "capital gains" and "interest and dividend income," with coverage expected to expand gradually. Notably, investments in Hong Kong stocks via the Stock Connect enjoy tax exemptions until the end of 2027, a policy likely to be extended given Hong Kong's role as an international financial hub and national strategic support. The policy logic aims to guide capital inflows: Against the backdrop of pressure on the trade surplus model, the policy shifts to "investment for market access," coupled with improved expectations for RMB asset returns, potentially reversing capital outflows and providing long-term support for Hong Kong stocks. **3\. U.S. Stock Analysis** [$NVIDIA (NVDA.US)$](https://www.futunn.com/stock/NVDA-US?chain_id=a_-EZuf8MjBgZG.1k7ulf8&global_content=%7B%22promote_id%22%3A13766%2C%22sub_promote_id%22%3A36%2C%22promote_content%22%3A%22nn%3Afeed%3A114893105856520%22%2C%22invite%22%3A%2232680457%22%2C%22f%22%3A%22q.futunn.com%2Ffeed%2F114896072802308%22%7D) After a slight pullback due to expectations of export restrictions being lifted, NVDA remains highly concentrated and retains its core position in the AI theme. Hold positions is recommended, with light additions below $170, focusing on the breakout momentum at $175. [$Tesla (TSLA.US)$](https://www.futunn.com/stock/TSLA-US?chain_id=a_-EZuf8MjBgZG.1k7ulf8&global_content=%7B%22promote_id%22%3A13766%2C%22sub_promote_id%22%3A36%2C%22promote_content%22%3A%22nn%3Afeed%3A114893105856520%22%2C%22invite%22%3A%2232680457%22%2C%22f%22%3A%22q.futunn.com%2Ffeed%2F114896072802308%22%7D) Currently in consolidation, with AI Day expectations fully priced in, the short-term structure is relatively stable. Holders can maintain positions, with the $320–$325 range as an ideal buying opportunity. [$Circle (CRCL.US)$](https://www.futunn.com/stock/CRCL-US?chain_id=a_-EZuf8MjBgZG.1k7ulf8&global_content=%7B%22promote_id%22%3A13766%2C%22sub_promote_id%22%3A36%2C%22promote_content%22%3A%22nn%3Afeed%3A114893105856520%22%2C%22invite%22%3A%2232680457%22%2C%22f%22%3A%22q.futunn.com%2Ffeed%2F114896072802308%22%7D) Short-term pullback due to miscommunication about USDC custody licenses, but the core logic remains intact. Consider buying in batches at $210–$212, with a stop-loss at $205. [$SharpLink Gaming (SBET.US)$](https://www.futunn.com/en/stock/SBET-US) ETH inventory strategy continues, but yesterday's drop reflects profit-taking pressure. Consider partial profit-taking, with a full exit if the low is breached, and reassess opportunities at $23–$24. [$Robinhood (HOOD.US)$](https://www.futunn.com/en/stock/HOOD-US) Recent adjustments reflect profit-taking, but the mid-term logic of ETF promotion and user growth remains intact. Reduce positions below $104, and consider re-entry if $100 holds. [$Google-C (GOOG.US)$](https://www.futunn.com/en/stock/GOOG-US) Earnings approaching and BofA's upgraded expectations, coupled with AI catalysts, drive strength. Hold or add lightly; a beat could open upside above $195. [$Navitas Semiconductor (NVTS.US)$](https://www.futunn.com/en/stock/NVTS-US) GaN shipments grow, but Q1 revenue faces pressure; structural growth logic is clear, with analysts maintaining a "strong buy." Buy in batches at $8.0, take partial profits at $9.5–$10. **Overall Strategy**: Focus on capital inflows in Hong Kong and tech/AI in the U.S., with pullback buying as the core strategy. Strictly enforce stop-loss/take-profit discipline, prioritizing risk control. ### Related Stocks - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [STECH.HK](https://longbridge.com/en/quote/STECH.HK.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [HSCEI.HK](https://longbridge.com/en/quote/HSCEI.HK.md)