[True Insight Hong Kong Stocks Expert] The Federal Reserve keeps interest rates unchanged, and SMOORE International (06969.HK) stock price keeps rising.

Hong Kong Stock Market Trends and Analysis

U.S. stocks showed mixed performance on Wednesday, with the Federal Reserve keeping interest rates unchanged as expected, without providing clear guidance on future rate cuts, leading to volatile market performance. The three major indices closed with mixed results. The U.S. dollar strengthened, and the 10-year Treasury yield rose to 4.37%, putting pressure on gold prices, while oil prices trended upward. Hong Kong's pre-market securities generally declined, and the market is expected to open lower following the weak external environment. Mainland stocks performed well yesterday, with the Shanghai Composite Index opening higher but closing up 0.2%, and trading volume slightly increased. Hong Kong market retreated, with the index opening lower and losses widening, hovering near lows by the close, while overall trading remained active. Blue-chip earnings fell short of expectations, and market caution over U.S.-China trade talks contributed to the market adjustment. The index is expected to test support at 25,000 points, with resistance at 25,800.

Industry News

In recent months, the stock price of Smoore International (06969.HK) has continued to rise, reflecting market confidence in new tobacco products. According to statistics, the global penetration rate of new tobacco users is only 8.1%, indicating significant untapped market potential. Heated tobacco products, due to their relatively lower harm, are increasingly popular among consumers, with huge market potential. Industry data shows that the heated tobacco market has a compound annual growth rate of 23.3%, with notable penetration increases in regions like Japan and Eastern Europe. Smoore has been developing heated tobacco products since 2010, actively advancing technological innovation and market expansion. Its collaboration with British American Tobacco on the Glo Hilo series has optimized technology, including faster heating times and improved cartridge design, enhancing user experience. The product's market positioning and performance improvements give it a competitive edge, driving new growth for the company. If expansion in the U.S. and European markets proceeds smoothly, Smoore's performance could see explosive growth. Smoore International's strategic positioning in the new tobacco market shows promising prospects, warranting continued attention.

Harbor Family Office Business Development Director, CFA Guo Jiayao

Date: Thursday, July 31, 2025

(The author is a licensed SFC professional and holds no positions in the mentioned stocks.)