Just announced: Upgraded to “Overweight”! Latest statement from foreign investors regarding Chinese equities
According to the latest reports, Wall Street giant Citigroup has revised its asset allocation recommendation for emerging markets, upgrading its rating on Chinese equities to 'overweight.' Citi strategists have set a year-end 2026 target price of USD 92 for the MSCI China Index, implying a potential upside of 31%.
Market Snapshot | All three major indices rose, with the Hang Seng Tech Index up 2.79%; coal and oil stocks advanced, Yanzhou Coal Mining surged over 9%, China Coal Energy gained more than 8%, and CNOOC rose over 6%; China Software International jumped 22
Tech and internet stocks rose, with Kuaishou-W up 4.57% and NetEase up 4.04%; oil stocks strengthened, with CNOOC up 5.19% and Yanchang Petroleum International down 5.17%; pharmaceutical stocks all gained, with 3SBio up 6.38% and CSPC Pharma up 4.94%.
On-site Coverage of the World Artificial Intelligence Conference: Fund Managers Survey Three Key Areas
The strongest signal emerging from this year’s exhibition is that AI is rapidly moving beyond 'concept demonstrations' and into the physical world—many of the new products showcased are no longer lab prototypes but mature, mass-producible, and deployable solutions.
Hong Kong Exchanges and Clearing Limited: The optimization measure to narrow the strike price intervals of Weekly Index Options will take effect on July 27.
On July 20, Hong Kong Futures Exchange issued a notice stating that the Securities and Futures Commission of Hong Kong has approved optimization measures to narrow strike price intervals, which will take effect on Monday, July 27.
CICC: Three Possible Endgames for an Extremely Structural Market
In 2026, global markets exhibited a highly divergent structural market performance. Korean equities with AI exposure, the Philadelphia Semiconductor Index, and China’s STAR Market and ChiNext boards significantly outperformed, while China A-share consumer stocks and Hang Seng Tech Index constituents without AI exposure notably underperformed.
Express News | Abolish the lunch break? HKEX responds: The current priority is to study extending trading hours in the derivatives market.
Express News | Ministry of Foreign Affairs: China and the United States have maintained communication regarding arrangements for interactions between their heads of state within the year.
Express News | Bloomberg: Hong Kong Exchange considers extending stock trading hours and eliminating the lunch break.
Express News | CSRC: Adopting Multiple Measures to Guide Medium- and Long-Term Capital into the Market and Promoting Standardized Development of Quantitative Trading and AI Applications
Citi: Upgrades China equities rating to 'Overweight'; Hang Seng Index year-end target set at 29,600 points
Citi stated that the MSCI Emerging Markets Index has risen by 20% year-to-date. Despite recent pullbacks, it still expects approximately 12% upside potential by year-end. If the macro environment remains supportive—including easing geopolitical risks—emerging markets could offer greater investment opportunities in the second half of the year, with China and Mexico identified as potential destinations. Accordingly, Citi has upgraded its rating on Chinese equities to 'Overweight' to reflect currently low positioning and the potential benefits from lower oil prices and improved global economic growth. Conversely, due to ongoing volatility in the South Korean market, Citi has downgraded South Korean equities to 'Neutral' to reduce exposure to AI-related investment risks.
Hong Kong Market Midday Commentary | All three major indices rose, with the Hang Seng Index up over 2% and the Hang Seng Tech Index climbing nearly 3%; tech and internet stocks surged collectively, Alibaba gained more than 5%, Tencent rose over 3.5%; CSOP
Tech and internet stocks rose broadly, with Alibaba-W up 5.15% and Meituan-W up 3.77%; mobile gaming stocks strengthened, with Boyaa Interactive up 6.15% and Bilibili-W up 4.30%; coal stocks gained, with Yankuang Energy up 9.94% and China Coal Energy up 9.02%;
Express News | The one-year and five-year Loan Prime Rates (LPR) remained unchanged.
Futu Morning Brief | U.S.-Iran Tensions Escalate Sharply! Oil Prices Surge; Tech Giants to Report Earnings This Week, BofA Warns to Watch Capital Expenditures; 'Another Storage Sector Horror Story?' U.S. Claims Right to Share Korean Firms' Profits
The China Securities Regulatory Commission (CSRC) held a special meeting on market stabilization, and two major centrally administered state-owned enterprises announced plans to increase their holdings of A-share equities; another Federal Reserve official struck a hawkish tone, stating that inflation remains the primary concern at present.
Week Ahead | Google, Tesla, IBM, and Intel to report earnings, putting tech stocks in the spotlight; AMD hosts AI conference with Lisa Su delivering a keynote speech; Trump attends White House Correspondents' Dinner on Friday
The European Central Bank is expected to hold interest rates steady; the World Artificial Intelligence Conference (WAIC) concluded on July 20.
Weekend Reading | How to Become a Smart Investor? Insights from 'The Person Who Understands Graham Best' on the Advantages and Discipline That Enable Individual Investors to Outperform 'Smart Money'
Zweig also reminded individual investors that their true edge does not lie in information or speed, but rather in not having to participate in the competition where professional investors are judged quarterly or even daily. “What you should truly care about is not whether you outperformed the index at any given point in time, but whether you are steadily progressing toward your long-term financial goals.”
Is the fastest and steepest sell-off in tech stocks in history coming to an end? Goldman Sachs reflects on the market's 'brutal rotation.'
He stated that the unwinding process of the momentum factor is 'nearing completion,' but there is currently a lack of catalysts for an immediate reversal in the near term.
Top-performing Hong Kong stocks this week | Zhenjiankang Healthcare-B, a recent IPO, surged 74% in a single week, supported by the 15th Five-Year Plan’s backing of the high-end medical devices sector; Zhuoyue Ruixin rose 40%, driven by the accelerating im
This week, the Hang Seng Index rose by 1.6% cumulatively, closing at 24,562.24 points; the Hang Seng Tech Index declined by 2.09% over the same period, closing at 4,623.17 points; and the Hang Seng China Enterprises Index gained 1.21% cumulatively, closing at 8,136.73 points.
Hang Seng Index Bull/Bear Ratio (51:49) | July 18
As of July 18, the latest bull-to-bear warrant ratio for the Hang Seng Index stands at 51:49.
Market Snapshot | All three major indices declined, with the Hang Seng Tech Index falling 4.37%; multiple semiconductor stocks dropped, Hua Hong Hongli and GigaDevice down over 11%; biotech stocks retreated, Akeso Inc. down over 13% and RemeGen Ltd. down
Tech and internet stocks declined broadly, with Kuaishou-W down 7.76% and Tencent down 4.63%; biotechnology stocks weakened, with Akeso down 13.21% and RemeGen down 10.29%; smartphone supply chain stocks fell across the board, with Hua Hong Hongli down 11.88% and ZTE Corporation down 11.87%.
Michael Burry, famed for his bearish bet against the housing market, turns bullish on Hong Kong equities: With AI hype cooling off, Hong Kong stocks now represent a valuation trough—an ideal opportunity to buy the dip. He has already increased his stake i
A long-short battle, epitomized by Michael Burry, is unfolding in the Hong Kong stock market, with bullish sentiment continuing to gather momentum. Michael Burry, the investor who gained fame for accurately predicting the 2008 U.S. subprime mortgage crisis and whose story inspired the film 'The Big Short,' recently stated publicly that now is an "excellent time" to hunt for undervalued stocks in the Hong Kong market. His bullish thesis is based on the expectation that the global AI chip stock rally will cool down, prompting capital to flow out of South Korea, Japan, and the semiconductor sector in search of valuation discounts. Meanwhile, Wang Yajun, Head of Asian Equity Capital Markets at Goldman Sachs, also noted