<p>【Zhenzhuo Institution Viewpoint】Tech stocks rally, Nasdaq up 2%, Hang Seng Index challenges 26,000 today</p>

The three major U.S. stock indices continued to perform well, with the Dow Jones and S&P 500 rising 0.66% and 1.2% respectively, while the Nasdaq gained as much as 2%. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, also rose 2.35%.

As for the Chinese and Hong Kong stock markets, A-shares continued their upward trend. The gains of the Shanghai Composite Index and the Shenzhen Component Index narrowed in the afternoon but strengthened again before the close, ultimately rising 0.95% and 1.6% respectively to close at 4,026 points and 14,639 points, marking the third consecutive trading day of gains. Trading volume increased slightly to 2.38 trillion yuan. Hong Kong stocks also performed well yesterday, approaching the 26,000-point mark in early trading. The gains narrowed to just 47 points in the afternoon but expanded again as A-shares strengthened. The Hang Seng Index finally closed at 25,872 points, up 211 points or 0.82%, while the Hang Seng TECH Index rose 0.62% to close at 4,851 points. The total market turnover was HK$236.8 billion. Among the constituents, $POP MART(09992.HK) performed the best, rising over 6.5%. Mainland property stocks were generally strong, with Longfor (00960.HK) also rising over 5.7%. $CHINA RES MIXC(01209.HK) and $CHINA RES LAND(01109.HK) rose 4.6% and 5% respectively. Among the declining constituents, Xinyi Solar (00968.HK) performed the worst, falling nearly 3.4%. Meanwhile, Contemporary Amperex Technology (03750.HK), which reportedly plans to raise funds through a share placement, also fell about 3.3%. Meituan (03690.HK) fell over 1.6%, making it one of the weaker performers among the heavyweight stocks.

Due to the strong performance of U.S. and tech stocks overnight, it is expected that Chinese and Hong Kong stocks may follow suit today, with the potential to regain the 26,000-point level. However, the latest news on the U.S.-Iran conflict still needs to be monitored. From a technical perspective, if the Hang Seng Index can break through and stabilize above the 50-day moving average (26,091 points), the market outlook is expected to strengthen, potentially restarting an upward trend.

Source: Bright Smart Securities