US-Iran war fears appear to be easing; Hang Seng Index rises 219 points. AI large-model stocks see strong buying interest. Investors looking to position in high-dividend stocks may consider CSOP FTSE China 50 Covered Call ETF.

Market reports suggest that a US-Iran peace agreement is nearing its final draft, significantly easing tensions in the Middle East. International oil prices and US Treasury yields have softened in succession, boosting overall external sentiment. Hong Kong stocks opened higher today on this positive backdrop, initially rising over 200 points. However, selling pressure quickly emerged at higher levels, narrowing gains temporarily. Later, chip and AI-related stocks stepped in to support the market. The Hang Seng Index closed at 25,606, up 219 points or 0.9%, with total main board turnover reaching HK$281.3 billion. The Hang Seng China Enterprises Index ended at 8,550, up 75 points or 0.9%. The Hang Seng Tech Index outperformed the broader market, closing at 4,869, up 100 points or 2.1%. Southbound capital recorded a net outflow of RMB 6.494 billion.

Lenovo Group (0992) $LENOVO GROUP (00992.HK)$ announced its last fiscal quarter results, reporting a nearly 4.8-fold year-over-year surge in net profit and record-high revenue. The company also set an ambitious target of achieving USD 100 billion in annual revenue within two years. Following the earnings release, its share price jumped HK$2.6 or 19.77% to close at HK$15.75, hitting a new all-time high and ranking as the best-performing blue chip of the day; NetEase (9999) $NTES-S (09999.HK)$ First-quarter net profit rose 3.6% year-over-year, and net revenue increased by 6.1%, beating market expectations. Several major brokerages raised their target prices, driving the share price up by HK$9.80 or 5.71% to HK$181.50.

The National Development and Reform Commission (NDRC) is planning to issue supporting documents to accelerate the implementation of artificial intelligence and clarified it has never required tech firms to reject foreign investment. The news directly fueled gains in the AI large-model sector. Zhipu AI (2513 $KNOWLEDGE ATLAS (02513.HK)$ ) surged by HK$272 or 26.93% to HK$1,282; MiniMax (0100) jumped HK$105.50 or 15.91% to HK$768.50; XunCe (3317 $XUNCE (03317.HK)$ ) rose HK$14.60 or 6.44% to HK$241.40. All three are rumored to be potential candidates for inclusion in the Hang Seng Tech Index, fueling speculation that passive fund inflows could further boost their gains. Shenghong Technology climbed HK$57.40 or 16.58% to close at HK$403.60.

Chip stocks also benefited, with SMIC (0981) $SMIC (00981.HK)$ up HK$5.65 or 7.62% to HK$79.85; GigaDevice (3986) $GIGADEVICE (03986.HK)$ surged 12.9% to HK$778; Montage Technology (6809) gained 5.7% to HK$471.80; TianShu ZhiXin (9903 $ILUVATAR COREX (09903.HK)$ ) rallied 9.6% to HK$487; Sunny Optical (2382) $SUNNY OPTICAL (02382.HK)$ rose HK$4.65 or 6.78% to HK$73.25; PCB-related stocks also performed well, with KB Coretec (1888 $KB LAMINATES (01888.HK)$ ) surging HK$6.70 or 15.09% to HK$51.10, hitting a record high since listing.

The robot concept rally continues, with Ubtech Robotics (9880) $UBTECH ROBOTICS (09880.HK)$ up HK$11.40 or 10.13%, at HK$123.90; Dobot (2432) $DOBOT (02432.HK)$ up HK$2.16 or 6.67%, closing at HK$34.54; Techcomp (0179) $JOHNSON ELEC H (00179.HK)$ up HK$1.80 or 6.61%, closing at HK$29.02; Sanhua (2050) rose HK$1.48 or 4.27%, closing at HK$26.18; LiDAR-related stocks also strengthened in tandem, with Hesai (2525) $HESAI-W (02525.HK)$ up HK$7.60 or 4.77%, at HK$166.10; RoboSense (2498) $ROBOSENSE (02498.HK)$ and Horizon Robotics (09660) $HORIZONROBOT-W (09660.HK)$ each gaining nearly 3%.

Traditional tech and internet stocks performed modestly, with Alibaba (9988) $BABA-W (09988.HK)$ up HK$1.00 or 0.79%, at HK$127.00; Tencent (0700) $TENCENT (00700.HK)$ up HK$2.40 or 0.55%, at HK$441.40; Baidu (9888) $BIDU-SW (09888.HK)$ Up HK$1.70 or 1.34%, at HK$128.20; Xiaomi (1810 $XIAOMI-W (01810.HK)$ ) rose HK$0.34 or 1.15%, to HK$30.00; Meituan (3690) $MEITUAN-W (03690.HK)$ fell HK$0.75 or 0.91%, to HK$81.35; JD.com (09618) $JD-SW (09618.HK)$ dropped HK$1.80 or 1.46%, to HK$121.70.

Capital rotation also weighed broadly on domestic consumption stocks, with Haidilao (6862) $HAIDILAO (06862.HK)$ plunging HK$0.58 or 4.3%, to HK$12.92, marking the worst-performing blue chip of the day; Mengniu Dairy (2319) $MENGNIU DAIRY (02319.HK)$ fell HK$0.72 or 4.13%, to HK$16.73; Tingyi Holding (0322) $TINGYI (00322.HK)$ dropped HK$0.45 or 3.73%, to HK$11.63; Budweiser APAC (1876) $BUD APAC (01876.HK)$ declined HK$0.16 or 2.2%, to HK$7.10.

In other stock news, VTech Holdings (00303) $VTECH HOLDINGS (00303.HK)$ Full-year net profit declined by 14.5%, and the final dividend was also cut by 18% to US$0.36. The market reacted negatively, sending the share price plunging HK$7.90 or 12.91% to HK$53.30; Nio (09866) $NIO-SW (09866.HK)$ Recorded adjusted net profit for two consecutive quarters, with revenue doubling year-over-year; however, the share price initially rose but later fell, ending the day down 0.42% at HK$42.78; Wuyi Vision (06651) $51WORLD (06651.HK)$ Rose HK$21.90 or 28.57% to HK$98.55, hitting a new all-time high since listing; new listing Dano Pharmaceuticals (06872 $TENNOR THERAP-B (06872.HK)$ ) debuted today, closing at HK$211 on its first trading day—more than 1.8 times above its IPO price of HK$75.70. With 50 shares per lot, investors gained HK$6,765 on paper per lot.

The market continues to face significant uncertainties. Aside from aggressive sectors such as technology stocks, some investors may prefer high-yield products to hedge against market uncertainty while maintaining exposure to core Hong Kong-listed assets. CSOP FTSE China 50 Covered Call Active ETF $CSOP HSCEI Covered Call Active ETF (02802.HK)$ (2802) employs a covered call strategy and primarily holds constituents of the Hang Seng China Enterprises Index, including Tencent (0700) $TENCENT (00700.HK)$ , China Construction Bank (0939 $CCB (00939.HK)$ ), Alibaba (9988 $BABA-W (09988.HK)$ ), ICBC (1398 $ICBC (01398.HK)$ ) and Xiaomi (1810 $XIAOMI-W (01810.HK)$ ) and other core Chinese enterprises, while actively writing (selling) Hang Seng China Enterprises Index (HSCEI) call options to generate option premiums as an additional income source. Compared to holding stocks alone, writing call options provides premium income that can partially hedge against market downturns, helping investors reduce losses and volatility. The ETF targets an annualized distribution yield of approximately 21% and pays monthly distributions. The most recent ex-dividend date was May 29, with a distribution of HK$0.14 per unit. The ETF closed most recently at HK$8.045, up 0.81%, with net assets of approximately HK$8 billion. Investors should note that the covered call strategy limits upside potential in bull markets, distributions are not guaranteed and have recently been paid partly from capital, which may gradually erode the net asset value and principal. This ETF is more suitable for income-oriented investors seeking stable, high-yield cash flows who are willing to trade some upside potential for current income.

@孫子的末代傳人 @中戶變大戶小牛變大牛 @股海GSO

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