January 6th [BOC Guest] Hang Seng Index, Zijin Mining, Jiangxi Copper, CICC, Cathay Pacific Haitong, Li Ning
Simon:Hello, Niki.
Niki, Director of BOC International:Happy New Year! Wishing you good health.
Simon: Both are very important. Good health is really crucial. Looking at the stock market, it's similar—there's also been progress this New Year.For example, looking at the Hang Seng Index, today it actually rose quite a bit and has now reached around 26,700 points. From the market sentiment perspective, what observations do we have for this period?
Niki, Director of BOC International:Wow, during this period, it’s clear that Hong Kong stocks have improved significantly. In fact, throughout December, the Hang Seng Index was mostly hovering around 26,000 points, going up and down repeatedly. It was originally thought to fluctuate between 25,000 and 26,000 points. But look, in the first few days of this year, both the market direction and trading volume have been very active, already reaching 26,700 points, which is actually a high point for the past one to two months. Moreover, the trading volume has reached about 250 billion, which was still the case when I just came out. Besides Hong Kong stocks, mainland China’s A-shares have risen to a ten-year high. Overall, both Hong Kong and mainland China markets have shown positive sentiment with bullish trends.
Last year, Hong Kong stocks rose nearly 30%, making it one of the best-performing years in recent times. There is reason to believe that this positive momentum will continue into 2026. For instance, many sectors deserve continued attention, including those we've frequently discussed on the show with Simon last year—chip stocks, tech stocks, and resource-based stocks, especially precious metals. Recently, international news has highlighted some tense situations, pushing up risk-averse sentiment, causing many resource prices to climb further. So, in 2026, precious metals and other resource-related products and shares will likely remain market focal points. We’ll discuss each of these shortly. Or let’s start by talking about the index—I have so much to share with you all.
Let’s talk about the index first. Some investors prefer to make their own picks. For instance, why choose targets closer to the current level when the Hang Seng Index rises to 26,700? Sorry, because the market has risen so fast, we haven’t had time to roll out relevant products yet. That's why you can currently find bull certificates with a recovery price around 25,800, such as our certificate 64010.$BI#HSI RC28087.C (64010.HK)$This may be applicable for today (the 6th), but tomorrow (the 7th) there will be newer, more closely priced bull certificates available. You can refer to our website for more information, the URL is www.bocifp.com. Regarding call warrants and put warrants, keep an eye on call warrant 23128.$BI-HSI @EC2605B.C (23128.HK)$It has an exercise price of 28,340 points and expires at the end of May this year, offering leverage of about 12 times. As for Hang Seng Index put warrants, pay attention to 23125.$BI-HSI @EP2605A.P (23125.HK)$This is a bearish bet with an exercise price of 23,280 points, expiring at the end of May this year, and also offers leverage of around 12 times. For the latest index-related information, feel free to visit our website.
Simon: Since the market is changing rapidly now, investors who wish to stay updated on the latest Hang Seng Index product information before the market opens every day can visit BOC International's website, as Niki mentioned earlier, at www.bocifp.com. The homepage displays BOC International’s latest product information. Of course, if during market hours you want to check for new product launches, seek more updated information, or have questions regarding terms, you can also call BOC International's Warrant Hotline: 00+852 3988 6909 to contact our team for consultation.
Simon:As Niki just mentioned, we can see the upward trend in the Hang Seng Index, with various sectors and industries having different hot topics. So let's dive deeper into individual stocks. The first stock I'd like Niki to share about is Zijin Mining (02899). $ZIJIN MINING (02899.HK)$ Zijin Mining was also mentioned in the homepage headline. How are investors feeling about it during this period?
Niki, Director of BOC International:Well, I already gave a brief overview of the market's investment focus over the past few days at the beginning of the show. Regarding gold prices, I remember sharing some insights in a few episodes last year — I hope everyone still remembers. At that time, I mentioned that demand issues were one of the main reasons driving up gold prices. As we saw with the trade issues that occurred in April last year, people realized that holding certain assets might pose long-term risks. Therefore, central banks around the world may start reallocating parts of their core assets into gold as reserves, starting from last year. If central banks take such actions, it would strongly support and drive gold demand. Additionally, external changes in recent years have made many investors highly risk-averse. Especially recently, with a new round of issues emerging, people have started paying attention to potential risks in holding currency-based assets and thus have been shifting more of their assets into gold.
Although gold prices experienced a pullback in December, they rebounded to recent highs in the past couple of days. From a medium to long-term perspective, I still remain bullish on gold prices. I remember telling everyone last year that I expected gold prices to rise to around $5,000 per ounce, and that forecast from last year is already very close to being realized. This year, I will continue to maintain that trend outlook, so all gold-related stocks and products deserve special ongoing attention.
Take Zijin Mining (2899), for example. Its share price has been hitting recent highs. Investors can choose to buy the stock directly, but with warrants, there’s leverage involved, and the capital required is much lower than buying shares outright. Due to the leverage effect, returns can be more significant. Therefore, you can continue to monitor Zijin Mining-related products, such as our warrant 21590, $BIZIJIN@EC2604B.C (21590.HK)$ with a strike price of 48.6 yuan, expiring around mid-April this year. It has decent leverage, around 7 times. So this year, I also suggest that everyone keep an eye on commodity-related stocks.
Simon:From a technical analysis perspective, if we continue to be optimistic about Zijin Mining’s (2899) upward trend, its price could potentially rise to around 42.3 yuan in the short term. Therefore, if you're planning to invest in warrant 21590, reaching the strike price of 48 yuan may require a bit more time, meaning you might need to hold it for a longer period. Everyone should continue to monitor the stock price movement.
Simon:Next, I’d like to ask NikiLet's talk more about Jiangxi Copper (00358). Look at its current stock price; today it rose to a high of around 45.9 yuan, and the trading volume was quite supportive. What observations are there on Jiangxi Copper in the warrants market?
Niki, Director of BOC International:Yes, we've been talking about commodity stocks, so many investors have been sharp in focusing on recent market highlights, not only paying attention to Zijin Mining but also several other commodity and precious metal stocks listed in Hong Kong. With limited time today, Bank of China International has many related products that you can check online if you have time. Besides Zijin Mining, Jiangxi Copper is also a recent focus for investors. As mentioned earlier, its stock performance has been very impressive, rising nearly 5% today, peaking at 45.96 yuan. I continue to be optimistic about it.
Jiangxi Copper, as the name suggests, mainly engages in copper-related businesses, and copper prices have been at historical highs over the past month or two. Additionally, you may not know that about 20%-30% of Jiangxi Copper’s business portfolio comes from gold operations. In mining, it isn't just copper that gets extracted; gold or other precious metals might also be produced. Such businesses are one of Jiangxi Copper's main sources of income. Therefore, it benefits from the continued rise in international gold prices, so you can also keep an eye on this stock. If you're bullish on Jiangxi Copper, you can look into the call warrant 27366. $BIJIANC@EC2604B.C (27366.HK)$ The exercise price is 52.88 yuan, expiring in mid-April this year, with leverage of approximately 5 times. Besides, there are other similar stocks such as Chalco (2600) $CHALCO (02600.HK)$ , Shandong Gold (1787) $SD GOLD (01787.HK)$ 、3993 $CMOC (03993.HK)$ . You can take some time to research these if interested.
Simon:As Niki mentioned earlier, there might be different investment themes and trading ideas shared recently. This information is available on the homepage of Bank of China International's website. The site updates daily with the latest investment themes, key individual stocks, and even reference information on related products, which you can view online. Recently, the market has been quite active, and there’s simply too much information to cover all potential investment themes, so we try to pick out a few important ones. We hope you’ll pay attention.
Simon:When it comes to themes, it’s hard not to mention A-shares, which have seen strong upward momentum, likely benefiting brokerage stocks. So, let's take a look atCICC (3908), whose stock price performed very well today, rising steadily with increased trading volume. From the market sentiment perspective, what do investors think about CICC?
Niki, Director of BOC International:Yes, as we mentioned at the beginning, A-shares have risen to a ten-year high, so overall market sentiment is relatively positive, and people are starting to refocus on the stock market. Also, recent news reports might attract investors who previously didn’t pay attention to the stock market, showing them increasing opportunities and momentum, drawing more investors into the stock market. Looking back at last year, both the Hong Kong and mainland China securities markets were in continuous growth environments, with many more IPOs in Hong Kong. So, going forward, I believe more and more investors will focus on the entire financial and stock market trading sentiment. Brokerage-related stocks can benefit when trading increases, their commission income rises, and product sales improve, leading to better company earnings. So while being bullish on the stock market, you can also keep an eye on related brokerage stocks.
As Simon just mentioned, CICC (03908) is an excellent stock. Today, it surged significantly by 8%, reaching a high of 22.3 yuan. Looking back at its previous highs, it had reached around 23 to 24 yuan. So, everyone might want to continue keeping an eye on this sector. For CICC, we also offer investment tools for selection, such as the call warrant 22280.$BI-CICC@EC2605A.C (22280.HK)$The strike price is 29.18 yuan, expiring around mid-May this year, with leverage of approximately 4 times.
Simon:So investors can actually pay attention. If investors want to understand the specific terms of the warrant products, they can visit the BOCI website, find the 'Warrants' section, and use the ‘Quick Warrant Search’ function to see all the specific terms of 22280. Everyone can choose according to their own situation. As mentioned earlier, the strike price for 22280 is 29.18 yuan, and we also provide a reference resistance level. If CICC continues to rise, it could potentially reach around 35 yuan. Of course, this is just a mathematical calculation for reference purposes only.
Simon:Speaking of CICC, there’s another brokerage stock I’d like Niki to discuss,Guotai Haitong (2611), which also showed quite an ideal price movement today, reaching a high of about 18.47 yuan. I’d like to ask, what’s the investor sentiment towards Guotai Haitong as a brokerage stock?
Niki, Director of BOC International:Yes, as mentioned earlier, brokerage stocks are worth paying attention to. Besides CICC, there’s also Guotai Haitong listed in Hong Kong. It’s a new company formed by the merger of Guotai Junan and the previously well-known Haitong Securities, stock code 2611. The logic behind brokerage stocks remains the same: strong trading volume, new IPOs awaiting listing, so the overall atmosphere continues to be positive. If the entire industry performs well, leading stocks and quality shares will also perform nicely. Thus, today (the 6th), Guotai Haitong rose by 7.6% to 18.41 yuan, which is its recent high, even reaching multi-year highs, so it’s worth keeping an eye on.
Besides directly purchasing stocks for long-term investment, leveraged investments can also be made through derivatives or warrants. For example, regarding Guotai Haitong (2611), we have a call warrant 23158.$BI-GTHT@EC2605A.C (23158.HK)$Its strike price is 21.9 yuan, expiring around mid-May this year, with leverage of about 4 times. This product’s terms are very good because Guotai Haitong's current stock price is over 18 yuan, while the strike price is 21.9 yuan, meaning that when the underlying stock approaches 21.9 yuan, the sensitivity of this product will increase significantly, amplifying the leverage effect. So, these terms are really good, and 23158 is worth watching.
Simon:As mentioned earlier, the strike price for 23158 is around 21.9 yuan, and we also provide a reference resistance level. In the short term, the resistance level for Guotai Haitong (2611) is approximately 20.1 yuan. Therefore, if you find the terms suitable, it may be worth considering.
Simon: Time is limited, so let's talk about the last stock today. We've already discussed many different sectors earlier; how about looking at another consumer-related sector? I'd like to discuss with Niki.Li Ning (2331) continued its upward trend today, reaching a high of 18.94 yuan. From the perspective of stock price, this is a recent peak. In addition to mentioning Li Ning, the website also highlighted other consumer stocks such as Anta. Regarding Li Ning, in terms of investment products like CBBCs (Callable Bull/Bear Contracts), what observations have investors made recently?
Niki, Director of BOC International:In fact, everyone has noticed that over the past few years, the country has introduced tax rebate policies, consumption stimulus measures, trade-in programs, subsidies, and other initiatives aimed at boosting consumption and domestic demand. Overall, this major trend will continue into 2026 because for a country to achieve growth, apart from government spending, it needs to stimulate consumption, and of course, exports can still drive GDP growth. Therefore, under the most controllable circumstances, domestic consumer sentiment becomes particularly important. Hence, we believe policies and subsidies to boost consumption will persist, benefiting domestic demand-driven stocks overall.
Therefore, you can consider some leading stocks, including Li Ning (2331), which are worth paying attention to. The stock performance of Li Ning is quite evident, rising over 3% today and approaching the 20-yuan mark. If you want to follow related products through leveraged portfolios, you may take a look at product code 22219.$BILININ@EC2605B.C (22219.HK)$ This product is a call warrant for Li Ning, with an exercise price of 23.33 yuan, expiring around mid-May this year, offering leverage of approximately 6 times. This product is relatively close to the current price, with an exercise price around 23 yuan. If Li Ning's share price rises from 20 yuan to 23 yuan (of course, not tomorrow, but if it breaks through this level in the future), this product
will show significant explosive power. The current leverage is about 6 times, which may increase further at that time. Therefore, everyone can actually pay attention to this type of consumer stock.
Simon: On BOCI’s website, there are various investment themes. Today, we’ve covered a portion of them. For more details, feel free to visit (www.bocifp.com) to explore other types of themes. Product information updates daily, so if you have any questions regarding products, please call Niki’s team hotline at 39886909 for the latest information. Whether it’s about new product launches or specific clauses, feel free to contact Niki and her team during market hours. Thank you very much, Niki, for your time today. Before we conclude, as always, take care and stay healthy!
Niki, Director of BOC International:One more thing: Besides inquiring about products, you can also call our hotline at 39886909 to share suggestions. For example, if you say, 'I like this type of stock or a particular stock product, why haven’t you issued related CBBCs?' Please let me know. I can explore whether we can work with relevant departments to issue such instruments. We're actively launching new products to provide diversified options, so we welcome your feedback.
Simon: The point you raised, Niki, is actually quite important. This hotline can indeed be used not only to inquire about existing products but also to communicate with issuers. If you have a specific stock in mind that you're optimistic about but there aren't any related warrant products available yet, or if you want to check whether a particular stock is suitable for issuing related products, you can always reach out to BOC International. Let them understand the different voices in the market and see if they can make their products more aligned with the needs of more investors. Alright, thank you very much for your time today, Niki. I hope everyone stays healthy and takes care of themselves. See you again next week, thank you all, bye.
Disclaimer: This article does not constitute any investment advice.
This article is for reference only and does not constitute any investment advice. The market data, opinions, and analysis contained herein may change at any time without prior notice. We shall not be liable for any loss or damage arising from reliance on the information in this article. Technical analysis merely indicates whether certain technical conditions are met; a comprehensive evaluation of asset performance should incorporate additional data. Trading decisions should not be based solely on the content of this article. Please note that past performance is not indicative of future results.
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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