How to view the post-holiday market trend in Hong Kong stocks?
[Warrant Perspective] Slight divergence in Hang Seng Index technical indicators; short-term requires observation of volume changes
On February 10, $Hang Seng Index (800000.HK)$
The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market.
We 【Hong Kong Stock Report】February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, AlibabaIn recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$
Breaking down specific technical indicators to understand the signals behind them:
The RSI index is at 59, in a neutral to slightly strong range, not yet in overbought territory (above 70), indicating short-term upward momentum still exists but is not particularly strong. The MACD signal indicates sell, forming a slight divergence with the minor upward movement of the stock price; it is necessary to monitor whether subsequent trend adjustments may occur.
The latest Hang Seng Index price is 27,183.15 points, above the MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points). The moving averages show a short-term bullish arrangement, indicating that the mid-term trend remains favorable.
![On February 10, $Hang Seng Index (800000.HK)$ The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market. We 【Hong Kong Stock Report】[Share Link: February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, Alibaba]In recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$ Breaking down specific technical indicators to understand the signals behind them: The RSI index is 59, in a moderately strong range, not entering the overbought zone (above 70), indicating that there is still some short-term upward momentum but it is not strong. The MACD signal suggests a sell, forming a slight divergence with the stock price’s minor uptrend; attention should be paid to whether there will be an adjustment in the trend going forward. The latest price of the Hang Seng Index is 27,183.15 points, higher than MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points)...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260211/web-1770771933420-2TGNRoigq1.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Support levels for the Hang Seng Index are 26,661 points (Support 1) and 26,095 points (Support 2); resistance levels are 27,750 points (Resistance 1) and 28,271 points (Resistance 2). Combined with Bollinger Bands and Bollinger Channel signals, the overall technical picture currently suggests a 'sell' signal with strength 10, mainly due to shrinking trading volume, advising investors against blindly chasing highs.
![On February 10, $Hang Seng Index (800000.HK)$ The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market. We 【Hong Kong Stock Report】[Share Link: February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, Alibaba]In recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$ Breaking down specific technical indicators to understand the signals behind them: The RSI index is 59, in a moderately strong range, not entering the overbought zone (above 70), indicating that there is still some short-term upward momentum but it is not strong. The MACD signal suggests a sell, forming a slight divergence with the stock price’s minor uptrend; attention should be paid to whether there will be an adjustment in the trend going forward. The latest price of the Hang Seng Index is 27,183.15 points, higher than MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points)...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260211/web-1770771947192-pxOJxJfZ6f.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Williams %R, Stochastic Oscillator, and CCI indicators all give neutral signals; ADX indicator is neutral, Psychological Line indicator is neutral, ROC indicator is neutral, VR Volume Ratio indicator gives a buy signal, Ichimoku Cloud gives a buy signal. Multiple oscillating indicators lean towards neutrality, further confirming that the current market is in a wait-and-see state, likely to maintain short-term consolidation.
Blue-chip stocks generally stabilized on February 10, led by gains in technology stocks. Most individual stock prices have moved above the 10-day moving average, presenting a short-term positive trend. A breakdown of technical aspects for several core stocks is provided for reference.
1、 $TENCENT (00700.HK)$: Closing price at 372.60 yuan, daily increase of 1.25%, stock price above MA10 (368.80 yuan), RSI at 58, technical indicator signal is 'buy', strength 'strong buy', indicating short-term technicals remain strong, with relatively stable performance.
2、 $MEITUAN-W (03690.HK)$: Closing price at 85.50 yuan, daily increase of 0.71%, stock price above MA10 (83.99 yuan), RSI at 55, technical indicator signal is 'buy', strength 'strong buy'. Moving averages indicate a bullish alignment, showing sufficient short-term upward momentum.
3、 $BABA-W (09988.HK)$: Closing price at 98.80 yuan, daily slight decrease of 0.30%, stock price fluctuating around MA10 (98.76 yuan), RSI at 49, technical indicator signal is 'neutral', reflecting investors' strong观望 (wait-and-see) sentiment regarding the stock's short-term trend.
4、 $KUAISHOU-W (01024.HK)$: Closing price at 70.40 yuan, daily increase of 1.59%, although the stock price is below MA10 (75.30 yuan), the RSI is 43, and the technical indicator signal is 'strong buy', indicating expectations of a short-term rebound are high.
The remaining blue-chip stocks ($XIAOMI-W (01810.HK)$ 、 $JD-SW (09618.HK)$ 、 $PING AN (02318.HK)$ Signals for 'buy' have appeared across the board, $CCB (00939.HK)$ 、 $AIA (01299.HK)$ Technical aspects of individual stocks are relatively stable, and overall technical indicators for blue-chip sectors are leaning positive.
Review of Bull/Bear Warrants & Featured Products:
Review the performance of previously recommended Hang Seng Index (HSI) warrant bull/bear products, while selecting two suitable products for investors' reference:
(1) Review of Warrants and Bull/Bear Certificates
Performance review of two HSI bear warrants issued by Bank of China recommended on 2026/2/4, summarizing their operations as follows:
1、 $BI#HSI RP28039.P (62755.HK)$ : Increased by 27% after 2 days, corresponding to a 1.07% drop in HSI spot after 2 days, aligning with earlier expectations of short-term market adjustments;
2、 $BI#HSI RP2803F.P (53379.HK)$ : Increased by 29% after 2 days, corresponding to a 1.07% drop in HSI spot after 2 days, showing strong short-term returns.
Risk Warning: Warrant bull/bear products have expiration dates and leverage characteristics. Past profits do not guarantee future performance. Investors need to closely monitor underlying stock movements and product expiration times to reasonably manage risks.
![On February 10, $Hang Seng Index (800000.HK)$ The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market. We 【Hong Kong Stock Report】[Share Link: February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, Alibaba]In recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$ Breaking down specific technical indicators to understand the signals behind them: The RSI index is 59, in a moderately strong range, not entering the overbought zone (above 70), indicating that there is still some short-term upward momentum but it is not strong. The MACD signal suggests a sell, forming a slight divergence with the stock price’s minor uptrend; attention should be paid to whether there will be an adjustment in the trend going forward. The latest price of the Hang Seng Index is 27,183.15 points, higher than MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points)...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260211/web-1770772049644-86kKrczuec.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Selected Warrant Products:
Based on the HSI's technical trend, support and resistance levels, we've selected two high-quality warrant products focusing on reasonable leverage and implied volatility:
1、 $UB-HSI @EC2605B.C (23091.HK)$ : Leverage of 13x, strike price at 28,341 points, corresponding to HSI resistance level 2, with relatively high leverage, suitable for investors optimistic about HSI breaking through the resistance level; note the strength of resistance breakout;
2、 $BI-HSI @EC2605B.C (23128.HK)$ : Leverage of 13.1x, strike price at 28,341 points, with the lowest implied volatility, relatively high leverage, suitable for investors who believe the HSI may struggle to break through resistance in the short term and could see a slight pullback; monitor the strength of support.
![On February 10, $Hang Seng Index (800000.HK)$ The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market. We 【Hong Kong Stock Report】[Share Link: February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, Alibaba]In recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$ Breaking down specific technical indicators to understand the signals behind them: The RSI index is 59, in a moderately strong range, not entering the overbought zone (above 70), indicating that there is still some short-term upward momentum but it is not strong. The MACD signal suggests a sell, forming a slight divergence with the stock price’s minor uptrend; attention should be paid to whether there will be an adjustment in the trend going forward. The latest price of the Hang Seng Index is 27,183.15 points, higher than MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points)...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260211/web-1770772115369-4xG5P64nu0.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
![On February 10, $Hang Seng Index (800000.HK)$ The overall trend showed a slight upward movement. Based on the closing price, the Hang Seng Index closed at 27,183.15 points for the day, with a single-day increase of approximately 0.58%, which was relatively limited. Trading volume was weak, showing varying degrees of contraction compared to the previous 1-2 trading days and the past 5-10 trading days, becoming a notable characteristic of the current market. We 【Hong Kong Stock Report】[Share Link: February 10th [Hong Kong Stock Podcast] Hang Seng Index, Hong Kong Exchanges, Sunny Optical, Yanzhou Coal Energy, Kuaishou, Alibaba]In recent commentaries on the Hang Seng Index, this volume performance also reflects that investors still have some wait-and-see sentiment towards the future market and are not aggressively entering the market. $HKEX (00388.HK)$$SUNNY OPTICAL (02382.HK)$$KUAISHOU-W (01024.HK)$$BABA-W (09988.HK)$ Breaking down specific technical indicators to understand the signals behind them: The RSI index is 59, in a moderately strong range, not entering the overbought zone (above 70), indicating that there is still some short-term upward momentum but it is not strong. The MACD signal suggests a sell, forming a slight divergence with the stock price’s minor uptrend; attention should be paid to whether there will be an adjustment in the trend going forward. The latest price of the Hang Seng Index is 27,183.15 points, higher than MA10 (27,129.53 points), MA30 (26,738.35 points), and MA60 (26,266.28 points)...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260211/web-1770772115372-tFHBfptQDO.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Additional reminder: Derivatives investment carries higher risks. Investors should choose products based on their risk tolerance and trading pace, avoid over-reliance on leverage, set reasonable stop-loss and take-profit levels, and act within their means.
The Hang Seng Index edged up slightly but with insufficient trading volume; blue chips generally remained stable. Would you consider positioning in Hang Seng Index call warrants or put warrants?
A, Call. B, Put. C, Not positioning for now. Come to the comment section and share your thoughts.
For more analysis, be sure to follow Jenny's daily updates on "HK Stock Warrants"!
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 are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; a comprehensive assessment of asset performance should be conducted using additional data. Decisions to trade should not be based solely on this article. Please note that past performance is not indicative of future results.
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