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<Research>BOCOMI: HK Stocks Still Have Room to Rise After Sharp Volatility
Recommend 47 Positive 73 Negative 30 |
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Hong Kong stocks experienced a significant downdraft yesterday (8th), according to a report from BOCOMI. After a period of substantial short-term gains, the market accumulated a large amount of profit-taking, making it highly susceptible to sharp fluctuations. Coupled with the HSI currently near the previous high of 22,700, which is technically a resistance level, and the expectation gap, both the HSI and the HSTECH recorded the largest one-day drop of nearly 10% in history. The report stated that such dramatic fluctuations in the context of rapid short-term market surges are part of the market's normal technical adjustments. However, with policy support, the overall upward trend in Hong Kong stocks remains unchanged. It is expected that driven by the combined resonance of domestic and international macro environments, Hong Kong stocks are still worth looking forward to in October. Nevertheless, from a technical perspective, although the HSI will continue to rise after breaching above the previous high of 22,700, the subsequent upward process may experience some reversals, and the slope will be relatively moderate, making it unlikely to replicate the straight-line surge at the end of September. While Hong Kong stocks will be on an upswing in the future, it is estimated that the differentiation of fundamentals will also lead to price differentiation, and high volatility and high differentiation may become the main characteristics of Hong Kong stocks' operation for some time. The broker advised investors to strategically go long on Hong Kong stocks, while refocusing on industry fundamentals, emphasizing industry tactics, and selecting investment targets supported by fundamental improvements. AAStocks Financial News |
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