After a gap-up opening on Thursday,meme coin listed on binance price the Hang Seng Index (HSI) initially softened and rebounded to 19,163.21 points before rising to 19,368.92 points at 11:32. It then turned bullish for the rest of the day, with a total intraday range of 205.713 points and a trading volume of HKD 1113.34 billion. The HSI, CSI 300 Index, and Hang Seng Tech Index rose by 2.6%, 2.6%, and 3.82% respectively.

WuXi AppTec (2269) announced earlier its plan to spin off WuXi XDC Cayman Inc. for independent listing in Hong Kong, resulting in an 8.533% increase in its stock price. Health-related stocks performed well, with JD Health (6618) and Ali Health (0241) rising by 8.171% and 6.571% respectively, both being high-performing blue-chip stocks.

The Hang Seng Index showed a consecutive two-day uptrend, breaking above the 200 SMA and 50 SMA. However, it faced resistance near the 250 SMA at around the 19,378 level. The MACD switched from bearish to bullish divergence, indicating a positive signal. Throughout the day, there were 1,120 stocks that rose and 550 stocks that declined, suggesting an overall improvement in market conditions.

The final demand producer price index in the United States rose 0.1% on a monthly basis and 0.1% on an annual basis in June, which is the smallest increase in nearly three years and below market expectations. Excluding food, energy, and trade, the final demand producer price index rose 0.1% on a monthly basis and 2.6% on an annual basis.

The June producer price data in the United States reflects signs of sustained easing in US inflation, and investors anticipate that the interest rate hike cycle will soon come to an end. The three major US stock indexes are performing well.

Night session and ADR are up, expecting a positive trend for the Hang Seng Index, with resistance levels at 19,500 / 19,700.

The main business of Concord Medical (9997) involves the design, development, manufacturing, and sales of a complete set of minimally invasive surgical instruments and accessories.

The group achieved a revenue of RMB 786.4 million in the fiscal year 2022, representing a year-on-year growth of 13.9%. The increase in group sales was mainly driven by moderate growth in the domestic market, despite being impacted throughout the year by COVID-related outbreaks and restrictions. Additionally, exports showed strong growth. The growth in domestic sales was primarily driven by rapid increases in categories such as single-lumen catheters, disposable electrocoagulation forceps, and 4K endoscopic camera systems. Export growth was mainly driven by increases in disposable catheters, polymer ligating clips, and repetitive products.

Shareholders' share of net profit amounted to RMB 478.7 million, an increase of 4.8% year-on-year. The increase in profit was mainly due to the rise in sales revenue, partially offset by research and development expenses incurred since the acquisition of Hangzhou Weijing Medical Robotics, as well as an increase in administrative expenses. Adjusted shareholders' share of net profit (excluding fair value gains/losses on equity investments, exchange differences, investment gains/losses on short-term financial products, and equity-based payment expenses) was RMB 498.7 million, a year-on-year increase of 21.0%.

The group's stock price has recently been on the rise, and there are signals of a financial technology system. The group's valuation is at the average level among peers. Based on a valuation of 20 times the P/E ratio, the target price for the group is 8.88 yuan.

The author is a licensed individual of the Hong Kong Securities and Futures Commission and does not hold the aforementioned shares. The above article represents personal opinions.