To The Moon

This week, the Hong Kong stock market continued its upward momentum, with the $HSI(HSI)$ rising 2.84% to close at 24,825.66, just shy of its year-high at 24,874.39.

Key Domestic Data

June’s retail sales grew by 4.8% YoY, reaching 42.3 trillion yuan. However, this was a significant drop from May’s 6.4% growth.

On the flip side, China’s exports rose by 5.8% YoY in June, surpassing economists' expectations of 5% and outpacing May's 4.8%.

Overseas Updates

The US core CPI rose by 2.9% YoY in June, meeting expectations but slightly up from May's 2.8%. Monthly growth edged up to 0.2%, missing the 0.3% forecast for the fifth straight month.

Meanwhile, the US stock market saw a surge in AI-related stocks after $NVIDIA(NVDA)$ announced that the US government would ease chip export controls, allowing H20 chips to be sold to China again.

US Earnings Season Kicks Off

US tech giants like $ASML Holding NV(ASML)$ and $Taiwan Semiconductor Manufacturing(TSM)$ posted their Q2 results. TSMC exceeded expectations and reported strong demand for AI chips, boosting investor confidence in AI stocks.

Hong Kong’s internet giants saw the biggest gains, with the IT sector coming in second after healthcare.

This week, southbound funds saw a net inflow of HK$ 21.5 billion.

Major Events in Hong Kong Stocks This Week

1. $NIO Inc.(NIO)$ shares soared ahead of the August 1st delivery of the ONVO L90 model, boosting investor optimism.

2.Bitcoin surpassed $120,000, causing a spike in cryptocurrency stocks.

3. $TIANQI LITHIUM(09696)$ expected a profit turnaround in H1.

4. $NVIDIA(NVDA)$ founder Jensen Huang’s visit to China reignited excitement, with the announcement of H20 chip exports resuming.

5.China June retail sales grew 4.8%, missing expectations.

6. $POP MART(09992)$ expected a 350% rise in H1 profit, but shares fluctuated.

7.China’s GDP grew by 5.3% YoY in H1, with Q2 growing at 5.2%.

8.The China Chain Store and Franchise Association calls for an end to “price subsidy” competition.

9.US Treasury Secretary reports positive talks between the US and China.

10.The State Council reviewed a report on regulating competition in the new energy vehicle industry.

11. $LEADS BIOLABS-B(09887)$ is going public, with cornerstone investors like $TENCENT(00700)$ and $EFUNDHSIESG(03039)$ .

12. $Taiwan Semiconductor Manufacturing(TSM)$ says AI demand is growing stronger.

13.China’s June exports in USD rose 5.8% YoY, exceeding expectations.

14.US June CPI rose 2.7% YoY, slightly above the 2.6% forecast.

Four Stocks Worth Attention Among Top Trading HK Stocks This Week

Top 1: $XIAOMI-W(01810)$ : $NVIDIA(NVDA)$ ’s Jensen Huang met with Xiaomi’s Lei Jun, sparking excitement. Huang joked, “I’d love to buy a Xiaomi car!”

Top 2: $BABA-W(09988)$ : Nvidia’s chip export news sent AI stocks soaring, lifting Alibaba significantly.

Top 4: $POP MART(09992)$ : Forecasted 200% YoY revenue growth, but stock fluctuated.

Top 9: $KUAISHOU-W(01024)$ : AI stocks, including Kuaishou, hit new highs as Nvidia’s AI push gained momentum.

Next Week's Hong Kong Stock Market Events

Earnings reports from $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Tesla Motors(TSLA)$ $Intel(INTC)$ could stir up sector movements. Keep an eye on these updates.