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Weak stocks take turns rebounding— which Hong Kong stock is next in line? Is SpaceX entering the Nasdaq as funds rush in aggressively?
The Hang Seng Index rose for the third consecutive day, with weak stocks rotating back to life, the latest being Tencent (00700) and Kuaishou (01024), returning above the 10-day moving average. After receiving shareholder authorization, Kuaishou, which conducted its first-ever share buyback, surged nearly 8%, becoming the best-performing blue-chip stock; Tencent rose over 4%. Is it worth chasing these stocks? Which weak stocks can start a reversal rally?
SpaceX (US: SPCX) will be formally included in the Nasdaq 100 Index before the US stock market opens on Tuesday, expected to bring in $4.3 billion in passive fund inflows. The most optimistic market estimate is that $27 billion will chase it. SpaceX saw a trading volume of 30.2 billion yuan on Monday; can passive funds drive SpaceX's stock price?
Nie Zhenbang, Chief Financial Analyst at Gaoge Securities, will accompany you at the market opening at 9:00 AM today on "ET Market Open."
If you have stock questions, feel free to leave them in the comments section of this program's app or on the Hong Kong Economic Times HKET YouTube channel.