Global Situation and Tech Breakthroughs Drive Markets; Hong Kong Faces Sweltering Heat and Central Asian Opportunities
Recent developments in the international situation have emerged, with positive news from negotiations between the United States and Iran. U.S. President Trump stated that a deal is "basically done." This news caused international oil prices to fall and stimulated gains in European stocks and bonds. Although U.S. stock markets were closed for Memorial Day, the Hong Kong stock market reacted early, with market sentiment fluctuating due to international news.
In the technology sector, Huawei announced a technical breakthrough, proposing the "Tao Law" and stating that its chip technology is expected to reach the 1.4nm level in a few years. This news briefly triggered a surge in chip stocks, with SMIC, Hua Hong Semiconductor, and ASMPT all jumping 15% at the opening. However, the market subsequently saw profit-taking, and stock prices fluctuated at high levels, showing a "high-dive" trend.
The Hang Seng Index rose 136 points in the half-day session to close at 25,742. Among them, Lenovo Group performed most impressively; after announcing its financial results, Goldman Sachs significantly raised its target price to $27, causing the stock to rise 12% against the market trend. In contrast, Meituan performed weakly, with its stock price falling for four consecutive days and hitting a two-month low at one point due to a weight reduction following a quarterly review.
Regarding Mainland Chinese finance, the government recently imposed penalties on offshore brokerages to strengthen supervision of US-listed Chinese stocks. Meanwhile, the Ministry of Foreign Affairs announced a ban on the export of certain dual-use items to Japan, stating this was to stop its militarization attempts. In the cryptocurrency market, Bitcoin performed strongly, with prices once breaking $79,000, attracting investor attention.
In terms of foreign trade, Hong Kong Chief Executive John Lee will lead a delegation to visit Kazakhstan and Uzbekistan in Central Asia in June. Investment industry representatives traveling with the group believe that this high-level exchange will help drive business interactions, establish closer economic ties between Hong Kong and the Central Asian region, and seek more cooperation opportunities.
Finally, regarding people's livelihood, the Hong Kong Observatory has issued a Very Hot Weather Warning, reminding citizens that the weather is extremely hot. The Centre for Health Protection of the Department of Health has called on the public to take appropriate measures to prevent heatstroke and heat-related illnesses. Citizens should stay hydrated when outdoors, avoid prolonged sun exposure, and pay attention to their physical condition.