Hong Kong Stock Market Experiences Volatility Post Lunar New Year

Following the Lunar New Year holiday, the Hong Kong stock market has shown volatility. According to Ming Pao, while a potential island top formation was noted between January 27 and February 2, a head and shoulders pattern is gradually emerging, with the neckline remaining at the February 6 low of 26,295 points. In recent weeks, semi-new stocks were a hot topic in the market, but interest has cooled this week. Funds are shifting towards traditional sectors such as steel, cement, and shipping. It is often emphasized that for the Hong Kong stock market to truly rise, heavyweight technology stocks must strengthen, but this has not yet occurred, and there is a recent trend of weakening. Notably, HSBC Holdings (0005) and AIA Group (1299), which previously supported the Hang Seng Index, have started to show weakening trends, suggesting a cautious outlook for the market.