Regarding the trend of HK stocks last week, market sentiment was actually not bad in the prior week, with the Hang Seng Index once again challenging higher levels. However, entering last week, as major tech stocks like Tencent (00700)
$TENCENT (00700.HK)$ , JD.com (09618)
$JD-SW (09618.HK)$ and Lenovo Group (00992)
$LENOVO GROUP (00992.HK)$ and others陆续 announced their earnings, the market shifted from "trading on expectations" back to "focusing on earnings, valuations, and capital flows」。
As a result, even though some companies' earnings were not bad, their stock prices still experienced "Sell the news" situations.
$Hang Seng Index (800000.HK)$ $HSI Futures (SEP6) (HSImain.HK)$ Last Friday, the Hang Seng Index finally closed at 25,116 points, down 279 points for the day, marking its fourth consecutive daily decline; for the full week, it accumulated a drop of 551 points, falling for the second consecutive week. Total turnover on Friday was approximately HK$254.1 billion, with southbound capital recording a net outflow of about HK$1.3 billion.
$HSI Futures (SEP6) (HSImain.HK)$The Hang Seng TECH Index also fell by about 1.7% on Friday, closing at 4,707 points.
$Hang Seng TECH Index (800700.HK)$Therefore, I believe that the first thing everyone should watch next week is not which stock rises, but whether the Hang Seng Index can hold the 25,000-point level.
...