Mo's Daily Review: Interest rate cut landed, good news exhausted? Hang Seng Index and gold both surged and then retreated!

Hello everyone, today the market $Hang Seng Index (800000.HK)$ continued its performance after hitting this year's high of ~27,058 points yesterday before sharply retreating into consolidation. Note that the market has surged over 2,000 points this month alone, so profit-taking emerged after the rate cut cycle began, especially from short-term funds. Despite this, the market initially hit today's low of ~26,414 points before attempting a rebound to ~26,637 points, but heavy arbitrage selling pressure post-noon drove another dip back to ~26,414 points. It ultimately closed at 26,545 points, up 0.25 points. Trading volume exceeded HK$370 billion, showing strong momentum.

Sands China $(01928.HK)$ led blue-chips with a 6% surge, followed by Galaxy Entertainment $(00027.HK)$ (+4%). Tech heavyweights like Tencent $(00700.HK)$, Alibaba $(09988.HK)$, Meituan $(03690.HK)$, and JD.com $(09618.HK)$ stabilized the market.

Lithium stocks shone today: CATL $(03750.HK)$, Ganfeng Lithium $(01772.HK)$ (+10%), and Tianqi Lithium $(09696.HK)$. SaaS firm Weimob $(02013.HK)$ surged 10% post-$200M funding.

Gold hit a record $3,700/oz after the Fed's cut but pulled back, now rebounding above $3,650. The Value Gold ETF $(03081.HK)$ remains a hedge against rate cuts and inflation, though investors should assess risks.

Summary
The market consolidates after its rally, with support at 26,400. Maintain caution above 26,000; ETFs suit volatile conditions.

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Disclaimer: Personal views only. Invest at your own risk.