Goldman Sachs: Chinese equities show 'rotation signals,' with A-share hard-tech stocks still favored and H-share internet firms seeing earnings recovery.

Goldman Sachs’ latest China strategy maintains its tactical preference for A-shares over H-shares and hard tech over soft tech, but has started paying attention to the recovery potential of large-cap H-share internet stocks following their valuation adjustments. The key to sustained H-share rebounds lies not in valuations but in earnings: losses from internet subsidies and AI-related capital expenditures continue to weigh on profits. China’s AI sector as a whole is not viewed as a bubble, though signs of localized overheating have emerged in semiconductors and certain A-share hard tech segments.

wallstreetcn10:34

Hong Kong Market Midday Review | Hong Kong stocks rose sharply before retreating; the Hang Seng Tech Index fell 0.81%. Memory storage, PCB, and optical communication stocks continued to adjust, with CSOP Twox Leveraged SK Hynix dropping over 26%, and KB G

Technology and internet stocks were mixed, with Meituan-W down 2.03% and JD.com-SW up 1.54%; solar photovoltaic stocks weakened, with Junda Shares falling 10.00% and Times Digital rising 6.17%; most automotive stocks declined, with Seres down 11.30% and GAC Group down 6.39%;

Futu News12:14

Kwok Sze-chi: The broader market continues to seek new highs following a pattern of initial decline followed by recovery.

Vincent Kwok, Vice Chairman of the Hong Kong Society of Technical Analysts, noted that the market has now entered mid-July. As of the time of writing, the market’s pattern for this month remains provisionally characterized by an initial decline followed by a rebound. The Hang Seng Index has risen from its low of 22,953 points on the 2nd to an intramonth high of 24,499 points on the 10th—a cumulative gain of 1,546 points over just seven trading days. While a swing of 1,546 points may already seem substantial, it might still fall short of what is typically required within a full month. Moreover, it is uncommon for both the monthly high and low to occur within only seven trading days. Therefore, theoretically, a wider trading range should emerge during the remaining trading days of the month, thereby expanding...

AASTOCKS10:27

Futu Morning Brief | U.S.-Iran tensions escalate over the weekend! Strait passage in question; Samsung's Yongin chip plant starts production ahead of schedule; SK Hynix CEO: memory supply will remain tight through 2030; GigaDevice's Hong Kong-listed share

OpenAI, Meta, and SpaceX are competing to develop more cost-efficient AI models; Silicon Valley tech giants are borrowing aggressively, triggering a sell-off in the bond market.

Futu News08:09

Hong Kong IPO Weekly Report: A-share companies including Dinglong Shares filed for listing; multiple new listings saw their share prices fall below offer price on debut

① Several A-share companies, including Dinglong Shares, have filed listing applications—what are the key takeaways? ② Multiple new listings saw their share prices fall below offering price on debut day—which ones warrant close attention?

cls.cnJul 12 16:40

Week Ahead | Waller’s Congressional Debut Coincides with June CPI! Q2 Earnings Season Kicks Off for Wall Street’s Big Five; Taiwan Semiconductor and ASML Holding Test AI Demand; U.S.-Iran 'Fight-and-Talk' Dynamics Stir Oil Prices

Next week, Hong Kong and U.S. equities will face a confluence of macroeconomic data releases, earnings reports, and key technology events. Waller will testify before Congress for the first time as Federal Reserve Chair, coinciding with the release of U.S. CPI and PPI data, potentially prompting a repricing of interest rate expectations. Meanwhile, ongoing U.S.-Iran negotiations amid military tensions continue to influence oil prices. Earnings season intensifies with results from Wall Street’s five major banks, while Taiwan Semiconductor and ASML will serve as barometers of AI demand. Jensen Huang is set to appear in Tokyo, and rumors suggest the imminent launch of Gemini 3.5 Pro. In Hong Kong markets, attention turns to China’s economic data releases, the expiration of share lock-ups for GigaDevice, and technology-driven catalysts from the World Artificial Intelligence Conference (WAIC).

Futu NewsJul 12 15:46