[ET Net News Agency, 06 June 2023] The Hang Seng Index closed at 19206 in the morning
session, up 98 points or 0.51%, with a total trading volume of HKD 55.346 billion on the
main board. The Hang Seng China Enterprises Index closed at 6521, up 57 points or 0.89%,
while the Hang Seng Tech Index closed at 3865, up 24 points or 0.64%.
The three most traded stocks on the Hang Seng Index were Tencent Holdings (00700),
Meituan (03690), and Alibaba-SW (09988). Tencent Holdings closed at HKD 334.6, down HKD
3.6 or 1.06%, with a total trading volume of HKD 25.68 billion. Meituan closed at HKD 123,
up HKD 1.4 or 1.15%, with a total trading volume of HKD 14.57 billion. Alibaba-SW closed
at HKD 83, up HKD 0.25 or 0.3%, with a total trading volume of HKD 12.6 billion. The three
most traded stocks on the Hang Seng China Enterprises Index and the Hang Seng Tech Index
were Tencent Holdings, Meituan, and Alibaba-SW.

"Nip Chun Pong: investors are waiting to see if the Hang Seng Index can stabilize above
the key support level of 19300"

Hong Kong stocks rebounded for the third consecutive day, with property stocks
sustaining their gains. Five blue-chip property stocks were among the top gainers on the
Hang Seng Index, creating a positive atmosphere that led to a morning increase of over 200
points. Nip Chun Pong, the Chief Strategist at Blackwell Global Asset Management, told ET
Net News Agency that after the HSI experienced a significant drop to the 18000 level due
to a price gap on 23-24 May , it has now returned to the key support level of 19300.
Investors are waiting to see if the index can stabilize above 19300 over the next two
days. If it can hold steady, the market outlook is likely to be optimistic, and if trading
volume remains at a higher level, there is a greater chance of challenging the resistance
level of 19800.

"Sell Cowell if its stock price falls below HKD 16"

Apple has released its VR/AR head-mounted display Vision Pro, with a price tag of
$3,499, which is more expensive than the rumoured $3,000 price, and the official delivery
date is not until early 2024. Following the release, Apple's stock price showed a weak
performance, and many Apple-concept stocks experienced a significant decline this morning.
Cowell (01415), a supplier of Vision Pro lenses, plummeted by more than 24% this morning,
before narrowing its decline to about 14%. According to Nip Chun Pong, the market's
outlook for Vision Pro is not optimistic, as reflected by the weak performance of Apple's
stock price, and the high pricing reflects the high research and development costs behind
the product. Due to the high price, it is estimated that the initial sales performance may
not be optimistic.
He pointed out that previously, Cowell and other Apple concept stocks rose along with
the price of Apple's stock, and now it is inevitable for them to follow the fall. He
suggested that investors who are holding these stocks should watch the support level at
HKD 16. If the support level can hold, there is still a chance for a rebound in the
future. However, if it falls below HKD 16, it is recommended to cut losses.

"Sunny Optical has potential for growth, Xiaomi lacks investment attractiveness"

Regarding other smartphone-related stocks, Sunny Optical (02382) has maintained a stable
trend, with a primary range between HKD 72 and 78. However, as technology stocks are
actively rebounding, it is not recommended to invest in sideways-trading stocks at the
moment. In addition, Xiaomi (01810) has followed the rebound of technology stocks, and its
major resistance level is at HKD 11.8. However, the potential upside of its current price
is not expected to be more than 10%, resulting in lower investment attractiveness.