Morning Trend | BOC HONG KONG (2388.HK) Golden Cross, Defensive Attributes Favored but Moderate Increase

BOC HONG KONG (2388.HK) showed relatively stable performance yesterday, with a mild rebound during the day, maintaining a slight upward pace throughout. The defensive attributes of the financial sector have once again attracted institutional favor, supported by stable Hong Kong dollar interest rates and improved bank asset quality. Recently, several banks have raised their savings account interest rates, attracting low-volatility capital allocation, with net inflows of funds primarily observed in the intraday market. The short-term performance has not outperformed mainstream heavyweight stocks, indicating a more defensive positioning. The daily moving averages are steadily rising, with a MACD golden cross, and trading volume has not shown any abnormal increase, indicating that the main funds are patiently positioning rather than rotating through hot spots. Market logic focuses on risk aversion and asset allocation needs, with significant volatility in large resource stocks and a pronounced linkage effect with the broader market. Once the style switches, its supporting role becomes more evident. In the short term, the upside is limited, and it is recommended to pay attention to changes in macro liquidity and the high-low switching opportunities brought about by market style adjustments