--- title: "The turbulence in external markets has not yet subsided, and a series of data bombs are coming in August. Where exactly is the way out for tech stocks?" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/43142076.md" description: "Hello comrades, happy weekend ☀ The Hong Kong stock market trend this week has been so thrilling it made my heart race with every up and down, like riding a roller coaster 😂 Mid-week, due to Meta's earnings report issues, the entire market fell into panic over AI's crazy cash burn, with chip stocks being dumped en masse; then suddenly, US semiconductor stocks staged a huge rebound, with the SOX index surging 8.2% in a single day, dragging HK tech stocks into a rapid rebound as well. The Hang Seng Index was pulled back and forth, and sector rotation was so fast it was hard to keep up. Taking advantage of the weekend rest, not only do we review the whole week's trend, but we must also plan well for next week and the entire month of August, so as not to be caught off guard when the market opens. ---I. Compilation of global major and minor news over the weekend..." datetime: "2026-08-02T12:04:05.000Z" locales: - [en](https://longbridge.com/en/topics/43142076.md) - [zh-CN](https://longbridge.com/zh-CN/topics/43142076.md) - [zh-HK](https://longbridge.com/zh-HK/topics/43142076.md) author: "[H暎韍哥](https://longbridge.com/en/profiles/2076314383049293824.md)" generator: "portal-rs" --- # The turbulence in external markets has not yet subsided, and a series of data bombs are coming in August. Where exactly is the way out for tech stocks? Hello everyone, happy weekend ☀ The HK stock market trend this week has been truly thrilling, making our hearts race like a roller coaster 😂 Mid-week, due to Meta's earnings issues, the entire market fell into panic over AI's 疯狂的 cash burn, with chip stocks being dumped en masse; then, almost overnight, US semiconductor stocks staged a massive rebound, with the SOXX index surging 8.2% in a single day, dragging HK tech stocks into a rapid rebound as well. The Hang Seng Index was pulled back and forth, and sector rotation was so fast it was hard to keep up. Taking advantage of the weekend break, we not only review the week's trends but also plan our operations for next week and all of August, so we don't end up scrambling when the market opens. --- **I. Summary of Global News This Weekend, All Directly Impacting HK Stock Trends** **1⃣ Major US Tech Giants' Earnings Are Settled, Previous Panic Is Slowly Dissipating** Apple, Amazon, Microsoft, and Meta have successively reported their results. Initially, everyone saw the giants spending wildly on AI data centers, with capital expenditures soaring and profits suppressed, causing widespread anxiety that AI only knows how to burn money without earning it. As the market calmed down, people realized: **cloud revenue surged significantly, AI is already generating enterprise payments, and hardware demand is real, not just hype.** The extreme panic regarding the AI industry chain has been largely digested. After a round of washout, HK semiconductor and tech sectors have conditions to repair valuations. **2⃣ Domestic Meeting Sets the Tone, Frontier Tech Gains Policy Support** The domestic meeting emphasized enhancing the resilience of the capital market. Front-line industries such as chips, AI computing power, and high-end manufacturing all receive policy support. This is like giving tech stocks a shot of adrenaline. The main theme of technological self-reliance and strength will not change easily, becoming the most solid bottom support for the sector. **3⃣ Middle East Instability, Oil Prices Oscillate at High Levels, Funds Become More Picky** The situation in the Middle East remains tense, with oil prices maintaining high levels. Coupled with the Fed's hawkish stance, the US dollar and Treasury yields remain high. In this environment, funds will not casually buy high-valuation stocks. Like picking vegetables, they are strict, preferring hard tech targets with actual performance and support from giant orders. Messy concept stocks will be ignored. --- **II. Don't Relax in August! Three Major Macro Data Points Arrive Successively** Last week, the Fed kept interest rates unchanged, but three officials suggested raising rates. Plus rising oil prices, market expectations for rate cuts cooled down significantly. Do not think that because there is no FOMC meeting in August, you can relax. August is actually a peak volatility period. Three major data points are arriving successively, directly determining whether tech stocks can continue to go up: **1\. August 5 Non-Farm Payrolls Data** Determines whether the market judges the economy to land smoothly or maintain high interest rates, directly affecting overall market sentiment. **2\. August 13 CPI Core Inflation Data** Rising oil prices could push inflation higher. If data exceeds expectations, the Fed's attitude will become tougher, putting pressure on high-valuation tech stocks again. **3\. August 27–29 Jackson Hole Global Central Bank Symposium (Most Important!)** The Fed Chair's public speech is the biggest uncertainty factor for the entire month of August. Whether the speech is hawkish or dovish will directly influence global capital flows. **Breakthrough Methods for Tech Stocks During the Data-Dense Period** When many data points disrupt the market, the broad market cannot rise universally. Funds will slowly leave purely speculative targets and move to stable ones with actual profits for hedging. The logic is simple: **The more chaotic the market, the more funds prefer to hold leaders with solid performance, supported by giant capital expenditures, and clear progress in domestic substitution.** --- **III. The Eternal Market Main Line Remains Unchanged, Focus on Three Key Themes** The core main line of the entire market remains the AI full industry chain + technological self-reliance. Following this line, focus on these three directions: **Theme 1: AI Computing Hardware Chain (Storage Chips, Computing Infrastructure)** Major US tech giants will maintain AI capital expenditures at the hundred-billion-dollar level in 2026 and 2027. As data centers multiply, the demand for DDR5 and HBM memory chips will only grow. Representative Target: Montage Technology, with a solid industry leadership position and guaranteed demand. **Theme 2: AI SaaS Software Commercialization (Enterprise Cloud Services)** Microsoft's cloud performance surge proves that AI is no longer just a burning-money phase; it has entered an enterprise-paid stage, capable of truly generating profits. Representative Target: Kingdee International, unaffected by overseas supply chains, with high earnings certainty, becoming the preferred safe haven for funds shifting from high to low positions. **Theme 3: High-End Manufacturing, Robotics, AI Secondary New Stocks (Domestic Substitution Direction)** With policy support for frontier industries, these targets have undergone long-term washouts and bottom-grinding. As long as market trading volume expands subsequently, there is a high chance of catching up in sector rotation. Representative Targets: Estun, Xunce Technology, **targets waiting for the wind to blow**. --- 💌 IV. Complete Attack and Defense Strategy for Four Holdings Next Week $Montage Technology (06809.HK)$ Successfully bought the dip at the low point during this panic, reducing cost basis to 282.34, currently floating loss of a few points. As long as the logic of US giants increasing computing power investment hasn't changed, hold with peace of mind. Wait for the chips to be washed clean before the second wave of pull-up arrives. The previous surge and fall was just normal digestion of profit-taking, no need to worry excessively. $Kingdee International (00268.HK)$ Microsoft's AI commercialization landing has verified the logic, and the SaaS sector has become a fund safe haven. No operation needed for this one; just lock positions and hold, peacefully enjoying the gains brought by institutional clustering. $Xunce (03317.HK)$ , $Estun (02715.HK)$ These two must be closely watched. 100 HKD for Xunce and 16.6 HKD for Estun are key defense lines. If they do not recover to this level in the short term and operate below, cut positions decisively. These two currently lack sector hotspot support and are in a rhythm of waiting for the wind. If they effectively break below the key level and fail to recover in the short term, do not waste time fighting them to the death. Keep funds for main-line targets with explosive potential. Protecting principal is the most important thing. --- The bigger the storm, the easier it is to pick good targets. There is more data in August, and market volatility will be more frequent, which is exactly a test of your own stock selection and discipline. While holding Kingdee for steady defensive profits, hold Montage waiting for explosion; for weakening targets waiting for the wind, pay more attention to defense lines. Rest well tonight, relax your mood, and recharge. After market emotions calm down, the next opportunity to eat meat will definitely arrive. Tomorrow, let's follow the rhythm and gain profits steadily 🔥 ### Related Stocks - [00268.HK](https://longbridge.com/en/quote/00268.HK.md) - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [03317.HK](https://longbridge.com/en/quote/03317.HK.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**