[ET Net News Agency, 15 July 2026] US inflation data cooled significantly, driving US stocks higher. Driven by blue chips issuing positive profit alerts and AI speculation, the HSI opened 210 points higher. During the session, Mainland China announced a second-quarter GDP year-on-year growth of 4.3%. This growth rate was lower than the expected 4.5%, and also below the official full-year growth target of 4.5% to 5%. The market expects that official authorities will strengthen fiscal stimulus and monetary easing. Internet technology and biotech sectors heated up, and the HSI expanded its half-day gain to 354 points, or 1.5%, to close at 24695. The Hang Seng China Enterprises Index stood at 8197, up 94 points, or 1.2%. The Hang Seng Tech Index stood at 4744, up 64 points, or 1.4%. The half-day turnover of the Main Board neared HKD 174.8 billion. It is worth noting that southbound capital has already recorded a net inflow of HKD 9.4 billion.
"Mak Ka Ka: HSI may face resistance at 50-day moving average"
Overnight European and US stock markets remained stable, and major Asia-Pacific stock markets performed well. After the HSI opened more than 200 points higher, its early gain once expanded to over 300 points. Mak Ka Ka, Head of Financial Products Trading and Research Department of SinoPac Securities (Asia), told ET Net News Agency that the HSI's surge today is mainly related to the retreat in US inflation and easing rate hike expectations. The US Consumer Price Index (CPI) for June slowed its year-on-year increase from 4.2% in May to 3.5%, lower than the expected 3.8% rise. Meanwhile, the core CPI rose by only 2.6% year-on-year, lower than expected, and remained unchanged month-on-month. Following the release of the data, the interest rate swap market showed that the probability of a rate hike by the Federal Reserve this month dropped from over 40% previously to about 20%.
Mak Ka Ka pointed out that after the inflation data was released, the yield on the US 10-year Treasury note fell by 10 basis points to around 4.5%. With the US dollar retreating, the Euro and Bitcoin rose together. Market appetite for risky assets improved in the short term, supporting stock markets. Under the backing of risk capital, technology stocks continued to be sought after. However, she warned that although US rate hike expectations have cooled, Federal Reserve Chairman Walsh stated that high inflation will not be tolerated, which means that the probability of a rate cut in the short term is also not high. The HSI has accumulated a rise of about 2000 points from its low (around 22518) to date, and initial resistance is expected at the 50-day moving average (around 24813). But Mak Ka Ka believes that a correction from the highs is normal for the HSI, and she expects the HSI to fluctuate within the range of 24200 to 24800 points in the short term.
"Strategic synergy exists between GigaDevice and CXMT"
Domestically-produced memory giant CXMT is launching its IPO on the Shanghai STAR Market, with the offer price set at RMB 8.66 per share. It will initiate subscription for investors on 16 July, with the maximum fundraising expected to reach RMB 66.6 billion, approximately double the previous estimate. Reuters reported that CXMT plans to list on the Shanghai Stock Exchange on 27 July, making it the largest IPO in Asia this year.
Mak Ka Ka stated that CXMT is the largest dynamic random-access memory (DRAM) supplier in Mainland China, ranking only behind Samsung, SK Hynix, and Micron, and possesses certain international competitiveness. GigaDevice (03986) holds a 1.8% stake in CXMT. Although the shareholding is not large, the helmsman of both enterprises is Zhu Yiming. The two enterprises are located in the upper and middle reaches of the industrial chain, where CXMT is in the upstream and GigaDevice is in the midstream. The two have strategic synergy, and in terms of supply (such as DRAM), there is a certain guarantee in both price and supply volume.
Since its listing at the beginning of the year, GigaDevice has recorded a substantial gain, with its high point rising by a maximum of 6.7 times compared to its listing price. Among other periods, it was highly sought after by capital from mid-to-late June, with the stock price nearly doubling within the month. Mak Ka Ka pointed out that after CXMT's listing, its stock price is expected to remain highly sought after in the short term, which will have a certain boosting effect on GigaDevice. However, as GigaDevice has experienced a larger increase previously, it is normal for the stock price to correct at highs. It is expected that there is still room for upside in the short term. GigaDevice's H-shares were supported this morning, once reaching a high of HKD 750, up nearly 9%, but the stock price reversed from its high, temporarily presenting a black candlestick. Mak Ka Ka believes that when GigaDevice's stock price corrects to below HKD 650, accumulation can be considered, and she expects the stock still has a chance to return to HKD 800 later on.
"Mak Ka Ka: HSI may face resistance at 50-day moving average"
Overnight European and US stock markets remained stable, and major Asia-Pacific stock markets performed well. After the HSI opened more than 200 points higher, its early gain once expanded to over 300 points. Mak Ka Ka, Head of Financial Products Trading and Research Department of SinoPac Securities (Asia), told ET Net News Agency that the HSI's surge today is mainly related to the retreat in US inflation and easing rate hike expectations. The US Consumer Price Index (CPI) for June slowed its year-on-year increase from 4.2% in May to 3.5%, lower than the expected 3.8% rise. Meanwhile, the core CPI rose by only 2.6% year-on-year, lower than expected, and remained unchanged month-on-month. Following the release of the data, the interest rate swap market showed that the probability of a rate hike by the Federal Reserve this month dropped from over 40% previously to about 20%.
Mak Ka Ka pointed out that after the inflation data was released, the yield on the US 10-year Treasury note fell by 10 basis points to around 4.5%. With the US dollar retreating, the Euro and Bitcoin rose together. Market appetite for risky assets improved in the short term, supporting stock markets. Under the backing of risk capital, technology stocks continued to be sought after. However, she warned that although US rate hike expectations have cooled, Federal Reserve Chairman Walsh stated that high inflation will not be tolerated, which means that the probability of a rate cut in the short term is also not high. The HSI has accumulated a rise of about 2000 points from its low (around 22518) to date, and initial resistance is expected at the 50-day moving average (around 24813). But Mak Ka Ka believes that a correction from the highs is normal for the HSI, and she expects the HSI to fluctuate within the range of 24200 to 24800 points in the short term.
"Strategic synergy exists between GigaDevice and CXMT"
Domestically-produced memory giant CXMT is launching its IPO on the Shanghai STAR Market, with the offer price set at RMB 8.66 per share. It will initiate subscription for investors on 16 July, with the maximum fundraising expected to reach RMB 66.6 billion, approximately double the previous estimate. Reuters reported that CXMT plans to list on the Shanghai Stock Exchange on 27 July, making it the largest IPO in Asia this year.
Mak Ka Ka stated that CXMT is the largest dynamic random-access memory (DRAM) supplier in Mainland China, ranking only behind Samsung, SK Hynix, and Micron, and possesses certain international competitiveness. GigaDevice (03986) holds a 1.8% stake in CXMT. Although the shareholding is not large, the helmsman of both enterprises is Zhu Yiming. The two enterprises are located in the upper and middle reaches of the industrial chain, where CXMT is in the upstream and GigaDevice is in the midstream. The two have strategic synergy, and in terms of supply (such as DRAM), there is a certain guarantee in both price and supply volume.
Since its listing at the beginning of the year, GigaDevice has recorded a substantial gain, with its high point rising by a maximum of 6.7 times compared to its listing price. Among other periods, it was highly sought after by capital from mid-to-late June, with the stock price nearly doubling within the month. Mak Ka Ka pointed out that after CXMT's listing, its stock price is expected to remain highly sought after in the short term, which will have a certain boosting effect on GigaDevice. However, as GigaDevice has experienced a larger increase previously, it is normal for the stock price to correct at highs. It is expected that there is still room for upside in the short term. GigaDevice's H-shares were supported this morning, once reaching a high of HKD 750, up nearly 9%, but the stock price reversed from its high, temporarily presenting a black candlestick. Mak Ka Ka believes that when GigaDevice's stock price corrects to below HKD 650, accumulation can be considered, and she expects the stock still has a chance to return to HKD 800 later on.
