Morning Trend | CKI HOLDINGS faces pressure, market sentiment remains cautious

CKI HOLDINGS (1038.HK) experienced light trading yesterday, with trading volume dropping to a recent low. Although the bullish structure has not been completely destroyed, the upward momentum has significantly weakened, and major funds generally chose to remain on the sidelines. The hotspots in the real estate and infrastructure sectors continue to cool, with incremental funds almost absent and a low willingness for active operations. Currently, there are no outstanding highlights in the information landscape, and related leading stocks have not shown a rotation in trading, indicating limited changes in the industry's fundamentals for the time being. The market generally hopes for the implementation of a new round of policy stimulus, but the short-term rhythm is constrained by macro trends. Overall, the downstream is moving along the lower Bollinger Band, reflecting a balance between bullish wait-and-see and bearish probing, with the risk of a downward move gradually increasing. Future investments need to focus on the recovery of industry trading and changes in macroeconomic benefits. If no incremental events occur in the short term, CKI HOLDINGS' defensive attributes may weaken temporarily, and the volatility range may expand at any time. It is recommended to maintain cautious positions and strictly set stop-loss levels