Pre-market trend | Midea Group (0300.HK) closed in the red on May 15 against the trend, stabilizing above the moving average. Is the household appliance leader brewing a new offensive?

Yesterday's closing, Midea Group performed strongly against the market trend, closing at HKD 91.65, an increase of 1.83%, standing out amid the general pressure on the Hong Kong stock market. The stock price steadily climbed from the opening of HKD 89.25, reaching an intraday high of HKD 92.85 at one point, rebounding after receiving effective support from the 5-day moving average. The MACD daily bullish signal has been initially established, with short-term buying power clearly dominant, which usually indicates that short-term upward momentum is building. The trading volume was approximately HKD 1.13 billion, with good volume support, and the attention of funds on leading household appliance stocks has increased. On the news front, the 618 promotional season is approaching, and the home appliance industry is entering a traditional peak season. Apple and Huawei have launched promotions and price reductions, with the consumer electronics industry collectively making efforts, and market expectations for the recovery of domestic consumption are improving. As a global leader in home appliances, Midea Group's overseas business continues to expand, coupled with the continuation of domestic trade-in policies, creating a resonance of multiple favorable factors. Recently, Hong Kong Stock Connect funds have continuously increased their holdings in consumer blue chips, with Midea being favored by southbound funds as a quality target. From a technical perspective, the area around HKD 89 constitutes the first short-term support level, which basically coincides with the position of the 5-day moving average. If it can maintain above HKD 90 in the following trading days and keep an average daily trading volume above HKD 800 million, the probability of testing the resistance in the HKD 95 range will increase. The A-share performance of Midea Group is also stable, and the AH linkage effect is expected to provide additional support for the Hong Kong stock side. The short-term trend is biased towards bullish, but attention should be paid to the potential suppression of growth stock valuations due to the decline in risk appetite triggered by the surge in global bond market yields