[ET Net News Agency, 27 July 2026] The US has ceased strikes against Iran since last Friday evening, and Tehran has also hinted at exercising restraint in retaliatory actions, holding talks with Oman regarding shipping lanes in the Strait of Hormuz. Hong Kong stocks opened with an unclear direction, rising after the open following tech stocks, but once again triggered resistance at the 100-day moving average (around 25,190). The HSI closed the morning session up 203 points or 0.8% at 25,166, with main board turnover exceeding HKD 111.2 billion. The Hang Seng China Enterprises Index rose 85 points or 1% to 8,356. The Hang Seng TECH Index rose 78 points or 1.7% to 4,707.
"Mak Ka Ka: Target range expected to shift upwards to 24,900 to 25,400 points"
Today, the HSI firmly reclaimed the 25,000 level. Mak Ka Ka, Head of Financial Products Trading and Research Department of SinoPac Securities (Asia), believes that the current international situation shows signs of easing, reducing the pressure of rising inflation. Coupled with the HSI closing above the 50-day moving average (around 24,609 points) for multiple days, the technical outlook is positive. She believes that if the HSI can continue to sustain its current momentum over the next few days, the target range is expected to shift upwards to between 24,900 and 25,400 points. However, as the HSI has accumulated substantial gains previously, Mak Ka Ka believes the pace of breakthrough will be limited, with stronger short-term resistance.
"Trip.com rebound still requires new catalysts"
Trip.com (09961) was accused in January of violating the Anti-Monopoly Law of Mainland China and cooperated with the State Administration for Market Regulation (SAMR) in launching an investigation under the Anti-Monopoly Law. Subsequently, Trip.com announced on 25 July that it had received an administrative penalty issued by the SAMR, totalling approximately RMB 5.301 billion. Trip.com's revenue last year was approximately RMB 62.409 billion, and this fine accounts for about 9.15% of last year's revenue. However, Trip.com's share price rose instead of falling today, gaining 4.5% in the morning session to close at HKD 358.
Mak Ka Ka believes that affected by the regulatory uncertainties from Mainland authorities, Trip.com's share price has experienced consecutive declines since January. With its share price chart recently showing subtle signs of stabilization, and rising despite the penalty being finalized, it indicates that the impact brought by the bad news has been fully reflected in the share price, and the price is expected to find support at current levels.
Mak Ka Ka added that recent signs of the renminbi strengthening may help lower outbound travel costs for Mainland China residents, indirectly stimulating travel demand. However, regarding whether subsequent share prices can surge further, Mak Ka Ka believes new catalysts are needed to drive it, such as whether Mainland China will introduce new tourism-promotion policies in the future and the rigid macro-economic demand for actual travel. Given the current absence of new positive news, its short-term movement is expected to be mainly range-bound, with a temporary target range of HKD 350 to HKD 375.
"Mak Ka Ka: Target range expected to shift upwards to 24,900 to 25,400 points"
Today, the HSI firmly reclaimed the 25,000 level. Mak Ka Ka, Head of Financial Products Trading and Research Department of SinoPac Securities (Asia), believes that the current international situation shows signs of easing, reducing the pressure of rising inflation. Coupled with the HSI closing above the 50-day moving average (around 24,609 points) for multiple days, the technical outlook is positive. She believes that if the HSI can continue to sustain its current momentum over the next few days, the target range is expected to shift upwards to between 24,900 and 25,400 points. However, as the HSI has accumulated substantial gains previously, Mak Ka Ka believes the pace of breakthrough will be limited, with stronger short-term resistance.
"Trip.com rebound still requires new catalysts"
Trip.com (09961) was accused in January of violating the Anti-Monopoly Law of Mainland China and cooperated with the State Administration for Market Regulation (SAMR) in launching an investigation under the Anti-Monopoly Law. Subsequently, Trip.com announced on 25 July that it had received an administrative penalty issued by the SAMR, totalling approximately RMB 5.301 billion. Trip.com's revenue last year was approximately RMB 62.409 billion, and this fine accounts for about 9.15% of last year's revenue. However, Trip.com's share price rose instead of falling today, gaining 4.5% in the morning session to close at HKD 358.
Mak Ka Ka believes that affected by the regulatory uncertainties from Mainland authorities, Trip.com's share price has experienced consecutive declines since January. With its share price chart recently showing subtle signs of stabilization, and rising despite the penalty being finalized, it indicates that the impact brought by the bad news has been fully reflected in the share price, and the price is expected to find support at current levels.
Mak Ka Ka added that recent signs of the renminbi strengthening may help lower outbound travel costs for Mainland China residents, indirectly stimulating travel demand. However, regarding whether subsequent share prices can surge further, Mak Ka Ka believes new catalysts are needed to drive it, such as whether Mainland China will introduce new tourism-promotion policies in the future and the rigid macro-economic demand for actual travel. Given the current absence of new positive news, its short-term movement is expected to be mainly range-bound, with a temporary target range of HKD 350 to HKD 375.
