Morning Trend | HKT-SS rises on low volume, can defensive positions withstand market fluctuations?

On December 1st, HKT-SS (6823.HK) opened high and rose moderately on increased volume, reflecting the continued preference of defensive funds. After the company's annual stable dividend plan was disclosed, it attracted insurance funds and public funds to increase their positions, enhancing the allocation effect of the blue-chip utility sector. Some active funds also actively rushed to buy to hedge against market volatility risks. Although the trading volume during the session did not significantly increase, the intraday structure remained stable, with continuous positive capital flow. Supported by a generally mild market sentiment, HKT-SS has stabilized in a high range, with no signs of weakening in its structure. After data was fully released and some industry benefits were realized, some short-term profit-taking began to appear, but there was no large-scale abnormal movement in the main funds' adjustments. The risk lies in the overall environment of Hong Kong stocks; if it suddenly changes, even defensive varieties may struggle to stand alone, and the risk of sector declines should be monitored. In terms of operations, closely watching intraday fluctuations and changes in volume is an effective test of short-term defensive capability. Conservative investors may look for opportunities during dips, while trend traders should be cautious of the pressure from potential declines