If you think silicon-based is too risky and want to look at carbon-based, you should still be cautious about bottom-fishing in Chinese internet stocks in Hong Kong. Pharmaceutical leaders are relatively at low points and have the potential to emerge first.$XIAOMI-W(01810.HK)$BEONE MEDICINES(06160.HK)$INNOVENT BIO(01801.HK)
0526 | Dolphin Research Focus: 🐬 Macro/Industry. 1) The US and Iran reached a framework for an MoU; Iran would reopen the Strait of Hormuz within 30 days of signing, the US would unfreeze $12bn of Iranian assets, and both sides would implement a ceasefire.
This would significantly ease near-term Middle East tensions and stabilize the global energy supply chain (about 30% of crude flows through the strait). It supports a pullback in oil and a rebound in energy stocks.However, the arrangement is temporary and does not address core issues such as Iran's nuclear program. Longer-term execution remains uncertain.2) Hang Seng Indexes Company announced the results of its regular quarterly index rebalancing. ...
The Hang Seng Index opened higher, refreshing its nearly four-year high; Tencent's performance exceeded expectations, receiving collective bullish calls from major banks; Chip stocks strengthened on the logic of domestic substitution, with SMIC leading the gains; Ping An's stake increase in China Taiping H-shares ignited the insurance sector; Cryptocurrency concept stocks surged as Bitcoin hit a new high; In the pharmaceutical sector, Jingtai Holdings reported its first profit, rising over 11%, while East Buy saw a sudden 12% increase.
Hong Kong stocks opened high and moved higher, with technology stocks and pharmaceutical stocks rising together. The technology index rose 2.35%, Tencent Music surged more than 15% after earnings, and Alibaba rose more than 4%.
The three major Hong Kong stock indices collectively retreated. WuXi AppTec's performance ignited the CRO sector, while tech stocks faced pressure, dragging down the indices.
On July 11, the three major stock indices in Hong Kong rose together. In terms of sectors, technology stocks rose collectively, and securities and brokerage stocks mostly increased.