DSTRAHK@EC2603A

Tracker Fund released FY2020 Q2 earnings on August 18, 2021 (BJT), with actual revenue of -4.872 B HKD and EPS of -1.4646

MAN SHUN GP

CB GLOBAL

FINSOFT FIN

CH SUPPLY CHAIN

WINSON HLDGS HK

WANJIA GROUP

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XI2CSOPMSTR

CHINA CHUNLAI

ALLEGRO CULTURE

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STECH

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The Hang Seng Index main futures closed down 0.62% in the overnight session, at 27,330 points. The Hang Seng Tech Index main futures closed down 0.94% in the overnight session, at 5,685 points

Wallstreetcn

ISHARESHSTECH

CAM HS TECH

Tianhong Hang Seng TECH ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

Dacheng Hang Seng Technology ETF(QDII)

ISHARESHSI

Hang Seng TECH Index

TRACKER FUND

HSTECH ETF

CSOP HS TECH

ChinaAMC Hang Seng Technology ETF(QDII)

GX HS TECH

CSOP HSI ETF

00HSI

Hong Kong's Securities and Futures Commission (SFC) has intensified warnings to investment banks regarding poor IPO filings amid a surge in listings. The SFC expressed concerns over the lack of regulatory knowledge and experience among active sponsors, leading to inadequate supervision. New requirements mandate banks to report principal bankers and their active listings. The SFC emphasized the importance of maintaining quality in the capital market, warning that sponsors pursuing volume may compromise standards. Inspections of sponsors' resources are expected, and disciplinary actions may follow for non-compliance.

- The Hong Kong Securities and Futures Commission (SFC) has issued a stronger warning to investment banks regarding improper stock sale applications amid a rise in listings.  
- Concerns have grown over the lack of knowledge and resources among active sponsoring teams, with a requirement for banks to submit information on key bankers and active listings within two weeks.  
- This is the second warning in under two months regarding IPO application quality, as regulators contemplate stricter rules to ensure only high-quality issuers enter the market.

Businesstimes News

Hang Seng Index

Hong Kong regulator ramps up warnings over poor IPO filings

Hong Kong's economy grew 3.8% year-on-year in Q4, marking the 12th consecutive quarter of growth, driven by strong regional trade, tourism, and financial services. The 2025 GDP growth is projected at 3.5%, surpassing the government's forecast of 3.2%. The economy expanded 1.0% quarter-on-quarter in Q4, with private consumption up 2.5% and total exports rising 15.5%. The government anticipates continued momentum into 2026, supported by global demand for AI-related products, despite external uncertainties.

- Hong Kong's GDP grew by 3.5% in 2025, exceeding the government's forecast of 3.2%, with a quarter-on-quarter increase of 0.1% in Q4.  
- The economy showed a year-on-year growth of 3.8% in Q4, benefiting from strong regional trade, increasing tourism, and financial services, marking the 12th consecutive quarter of growth.  
- Looking ahead, the government anticipates continued positive momentum in 2026, supported by global economic expansion and strong demand for AI-related products, despite external uncertainties.

Reuters

Hong Kong Q4 GDP expands 3.8% y/y, 2025 GDP up 3.5%

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The Hang Seng Index fell 2.08% after rising for seven consecutive trading days, closing at 27,387 points, as the market awaited U.S. President Trump's announcement of the new Federal Reserve Chairman. The U.S. dollar index rose, leading to a decline in Hong Kong stocks. The total market turnover reached HKD 301.612 billion, with northbound trading totaling HKD 116.489 billion. Alibaba fell 2.4%, the Tracker Fund dropped nearly 2.1%, while New Oriental rose 5.5% against the trend. This week, the Hang Seng Index accumulated a rise of 637 points, the National Index increased by 156 points, while the Hang Seng Tech Index fell by 79 points

AASTOCKS

Alibaba

CKH HOLDINGS

BABA-W

DAMAI ENT

New Oriental EDU & Tech

The Market Review: Hang Seng Index Retracts 2%, Commodity Stocks Sold Off, CKH HOLDINGS Drops Over 4%

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Hong Kong's GDP for the fourth quarter grew by 3.8% year-on-year, with an expectation of 3% and a previous value of 3.8%

FI2 CSOP HSI

FL2 CSOP HSI

GX HS HIGHDIV

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The Hang Seng Index fell 2.1% to 27,387, ending a seven-session rally due to a decline in U.S. stock futures and profit-taking ahead of China's January PMI release. The drop was broad-based, with consumer and tech sectors down over 2%. Despite the decline, the index recorded a 2.4% weekly gain and its first monthly rise in four months, up nearly 7%, supported by recovery signs in Hong Kong's property sector. Additionally, Beijing is considering issuing special bonds to recapitalize major insurers.

Trading Economics

FI CSOP HSI

Hang Seng Slides 2% Yet Marks First Monthly Gain in Four

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The Central Plains City Leading Index (CCL) latest reported at 146.47 points, up 0.64% week-on-week, reaching a nearly two-year high. Influenced by the performance of Hong Kong stocks, bank mortgage discounts, and strong sales of new developments, the CCL has risen for two consecutive weeks, totaling 1.27%. It is expected that property prices will continue to rise in the short term, with the CCL likely to break 147 points before the Lunar New Year. The CCL Mass reported at 148.05 points, up 1.04% week-on-week; the CCL (small and medium-sized units) reported at 146.78 points, up 0.91% week-on-week. The New Territories saw significant weekly increases in two districts

ISHARESHSI-U

In "Hong Kong Property," the CCL from Centaline rose by 0.64% week-on-week, reaching a nearly two-year high

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The short selling amount in the Hong Kong stock market reached HKD 24.7 billion in half a day, accounting for 17.3% of the total turnover of shortable stocks. The previous day was 16.4%. The main shorted stocks include TRACKER FUND with a short selling ratio of 55.7% and a short selling amount of HKD 5.12 billion; HSCEI ETF with a short selling ratio of 43.4% and a short selling amount of HKD 2.6 billion; CSPC PHARMA with a short selling ratio of 23.1% and a short selling amount of HKD 890 million; Southern HS Tech with a short selling ratio of 15.6% and a short selling amount of HKD 730 million; ZIJIN MINING with a short selling ratio of 13.7% and a short selling amount of HKD 680 million

HSCEI ETF

CSPC PHARMA

ZIJIN MINING

TRACKER FUND-R

Short selling in the Hong Kong stock market for half a day reached HKD 24.7 billion, accounting for 17.3% of the total turnover of shortable stocks

Hong Kong stocks fell 1.5%, dropping 412 points to 27,545, ending a seven-session winning streak amid profit-taking and caution ahead of China's January PMI data. The decline was influenced by a drop in U.S. stock futures and a warning from Apple about margin pressures. Despite the drop, Hong Kong equities are on track for a third consecutive weekly gain and a monthly rise of nearly 8%, supported by signs of stabilization in the property market and eased financing constraints for builders.

China Southern Hang Seng ETF

China Southern Hang Seng ETF Feeder Fund-A

ChinaAMC Hang Seng ETF

Apple

Hong Kong Stocks Under Pressure, Still Head for Solid Monthly Gain

The Hong Kong Hang Seng Index opened down 0.65%, and the Hang Seng Tech Index fell 0.88%

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The Hong Kong Stock Exchange made several attempts to surge to previous highs during the 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. As a core target of the market, the Hong Kong Stock Exchange has always been a focus for active funds, especially stimulated by news of new stock listings, which has enhanced the market heat around the exchange through weight rotation. In the afternoon, some funds chose to take profits, leading to increased volatility at high levels. 

From a sector perspective, the interaction of 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 influence of T+0 trading policies and other catalysts, the short-term capital game has noticeably heated up. 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 through.

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 sentiment 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 policies providing support. In the medium to short term, if trading volume continues to expand, key positions are expected to achieve a real breakthrough; 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

Technical Forecast

HKEX

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

DSTRAHK@EC2603A(18302.HK)

The Hang Seng Index main futures closed down 0.62% in the overnight session, at 27,330 points. The Hang Seng Tech Index main futures closed down 0.94% in the overnight session, at 5,685 points

Hong Kong regulator ramps up warnings over poor IPO filings

Hong Kong Q4 GDP expands 3.8% y/y, 2025 GDP up 3.5%

The Market Review: Hang Seng Index Retracts 2%, Commodity Stocks Sold Off, CKH HOLDINGS Drops Over 4%

Hong Kong's GDP for the fourth quarter grew by 3.8% year-on-year, with an expectation of 3% and a previous value of 3.8%