HKEX (388.HK): Previous highs under pressure with fluctuations, whether trading volume can increase is key

The Hong Kong Stock Exchange made several attempts to surge to previous highs during the trading session yesterday, ultimately closing slightly higher. However, due to the overall trading volume not significantly increasing, the short-term pace appears somewhat cautious. The trading atmosphere in the market has warmed up, with northbound funds showing a net inflow again, driving a positive performance in the morning session. As a core target in the market, the Hong Kong Stock Exchange has always been a focus for active funds, especially under the stimulus of new stock listing news, where the rotation of weights has increased the market heat for the Hong Kong Stock Exchange. In the afternoon, some funds chose to take profits, leading to increased volatility at high levels. From a sector perspective, the interaction between northbound and southbound funds has become a long-term favorable logic for the Hong Kong Stock Exchange. The market generally expects that trading volume is likely to expand further in the future, but the Hang Seng Index experienced significant fluctuations during the day. Under the catalysis of T+0 trading policies, the short-term capital game has noticeably intensified. The entire day's trend was repetitive, with significant resistance at high levels, and a fierce tug-of-war between bulls and bears at key positions. The intraday trading volume did not show smooth expansion, indicating that a phase breakthrough is waiting for the main funds to follow up and amplify. From a technical perspective, the Hong Kong Stock Exchange currently maintains a bullish structure, dominating market sentiment. Indicators are generally in an upward channel, but in high zones, the adjustment of funds has intensified, and the willingness to take profits on holdings has increased. Whether an effective breakthrough can be formed in the future needs to be observed in terms of volume follow-up and new policy support. In the short to medium term, if trading volume continues to expand, a true breakthrough at key positions is expected; if volume shrinks, there may be repeated fluctuations at high levels. Investors should pay attention to policy trends and the overall capital aggregation effect in the Hong Kong stock market