[ET Net News Agency, 28 April 2026] The outlook for the Middle East remains uncertain. Although reports suggest Iran has proposed a new plan, including relinquishing control of the Strait of Hormuz if the US lifts the maritime blockade and terminates hostilities, the White House has yet to respond. Besides monitoring the US stance on the Iranian proposal, the market is also awaiting the Federal Reserve's interest rate decision. Asia Pacific equity markets performed mixed this morning; Mainland China and Japan markets were soft, while Korea market held steady. The HSI edged lower within a narrow range this morning, with a half-day volatility of less than 200 points. The HSI closed the midday session at 25,752, down 173 points or 0.7%, with main board turnover reaching nearly HKD 131.2 billion. The Hang Seng China Enterprises Index stood at 8,673, down 82 points or 0.9%. The Hang Seng Tech Index reported 4,879, down 60 points or 1.2%.
"Wan Kong Shing: Funds flow into tech leaders, Hong Kong stocks lack attraction"
US stocks closed mixed on Monday (27/04), with the Dow falling slightly while the S&P 500 and Nasdaq both hit record highs. Regarding Hong Kong stocks, yesterday's close was down 52 points, and the decline expanded to 173 points in the first half of today. Wan Kong Shing, the Chief Investment Officer of iFAST Global Markets, told ET Net News Agency that capital is currently speculating on hardware tech stocks, with funds mainly flowing into US leading tech enterprises. In contrast, Hong Kong tech stocks still lag behind US leaders in terms of technical levels, resulting in weaker enthusiasm for capital chasing them. He also noted that tech industry development in Korea and Japan is relatively flourishing, whereas Hong Kong's positioning is primarily as a financial market. Without active capital inflows into the financial market, the performance of Hong Kong stocks in Asia Pacific markets has been slightly inferior.
Wan Kong Shing stated that the trend of chasing tech stocks is expected to continue in the short term. However, he cautioned that international oil prices are gradually rising; if NYMEX crude reaches the USD 100 level, the market may see a significant adjustment due to rising inflation risks, potentially causing a large amount of capital to exit the market.
As the 1 May Labour Day holiday approaches, and given that Hong Kong stocks have accumulated significant gains since April, capital tends towards profit-taking. Wan Kong Shing believes there is a higher chance for Hong Kong stocks to test lower levels in the short term, with a possibility of filling the gap created during the Easter period. He stated that the HSI currently has strong support in the 25,500 to 26,000 range, while the room for an upward test is limited for now.
"OpenAI plans to enter mobile phone market, limited short-term upside for Apple suppliers"
Recently, reports indicated that US artificial intelligence (AI) giant OpenAI is entering the mobile phone industry. Ming-Chi Kuo, an analyst at TF International Securities, noted that OpenAI is collaborating with MediaTek and Qualcomm to develop mobile phone processors, while Luxshare Precision (SZ:002475) is the exclusive system co-designer and manufacturer, with mass production expected in 2028.
Overnight, Apple shares closed down approximately 1.3% in the US. This dragged down Apple suppliers generally, with Sunny Optical (02382) falling 5% and AAC Tech (02018) dropping 6%. Wan Kong Shing stated that today's decline reflects the market's cautious attitude towards the news. He pointed out that the market is still unclear about the actual difference between AI phones and traditional smartphones; furthermore, as the Apple mobile system possesses its own independent ecosystem, the likelihood of Apple users switching to Android is low unless AI phones bring a breakthrough difference.
Wan Kong Shing believes the current decline in Apple suppliers is likely a tactical correction, and the decline should be limited, with the potential to stabilise later on news speculation. Therefore, he suggests investors consider accumulating related shares on dips. However, he warned that the short-term upside for Apple suppliers might be limited unless driven by new reports such as Apple launching new foldable phones. He stated that support levels for Sunny Optical and AAC Tech are at HKD 60 and HKD 35 respectively; if further news speculation occurs, share prices could potentially test HKD 90 and HKD 50.
"Wan Kong Shing: Funds flow into tech leaders, Hong Kong stocks lack attraction"
US stocks closed mixed on Monday (27/04), with the Dow falling slightly while the S&P 500 and Nasdaq both hit record highs. Regarding Hong Kong stocks, yesterday's close was down 52 points, and the decline expanded to 173 points in the first half of today. Wan Kong Shing, the Chief Investment Officer of iFAST Global Markets, told ET Net News Agency that capital is currently speculating on hardware tech stocks, with funds mainly flowing into US leading tech enterprises. In contrast, Hong Kong tech stocks still lag behind US leaders in terms of technical levels, resulting in weaker enthusiasm for capital chasing them. He also noted that tech industry development in Korea and Japan is relatively flourishing, whereas Hong Kong's positioning is primarily as a financial market. Without active capital inflows into the financial market, the performance of Hong Kong stocks in Asia Pacific markets has been slightly inferior.
Wan Kong Shing stated that the trend of chasing tech stocks is expected to continue in the short term. However, he cautioned that international oil prices are gradually rising; if NYMEX crude reaches the USD 100 level, the market may see a significant adjustment due to rising inflation risks, potentially causing a large amount of capital to exit the market.
As the 1 May Labour Day holiday approaches, and given that Hong Kong stocks have accumulated significant gains since April, capital tends towards profit-taking. Wan Kong Shing believes there is a higher chance for Hong Kong stocks to test lower levels in the short term, with a possibility of filling the gap created during the Easter period. He stated that the HSI currently has strong support in the 25,500 to 26,000 range, while the room for an upward test is limited for now.
"OpenAI plans to enter mobile phone market, limited short-term upside for Apple suppliers"
Recently, reports indicated that US artificial intelligence (AI) giant OpenAI is entering the mobile phone industry. Ming-Chi Kuo, an analyst at TF International Securities, noted that OpenAI is collaborating with MediaTek and Qualcomm to develop mobile phone processors, while Luxshare Precision (SZ:002475) is the exclusive system co-designer and manufacturer, with mass production expected in 2028.
Overnight, Apple shares closed down approximately 1.3% in the US. This dragged down Apple suppliers generally, with Sunny Optical (02382) falling 5% and AAC Tech (02018) dropping 6%. Wan Kong Shing stated that today's decline reflects the market's cautious attitude towards the news. He pointed out that the market is still unclear about the actual difference between AI phones and traditional smartphones; furthermore, as the Apple mobile system possesses its own independent ecosystem, the likelihood of Apple users switching to Android is low unless AI phones bring a breakthrough difference.
Wan Kong Shing believes the current decline in Apple suppliers is likely a tactical correction, and the decline should be limited, with the potential to stabilise later on news speculation. Therefore, he suggests investors consider accumulating related shares on dips. However, he warned that the short-term upside for Apple suppliers might be limited unless driven by new reports such as Apple launching new foldable phones. He stated that support levels for Sunny Optical and AAC Tech are at HKD 60 and HKD 35 respectively; if further news speculation occurs, share prices could potentially test HKD 90 and HKD 50.
