Thedogecoin value Hang Seng Index opened higher last Friday, rose to 19857.39 points in early trading, then softened and fell to the level of 19600. In the afternoon, the index further weakened and rebounded after falling to 19461.61 points at 15:11. The daily fluctuation was 395.78 points with a trading volume of 1144.13 billion yuan.

Cheung Kong Property Holdings (1113) sold the Yau Tong new development project at a price comparable to seven years ago, and its stock price fell by 0.12%. However, other Hong Kong property stocks performed weakly. Wharf Real Estate Investment (1997), Sun Hung Kai Properties (0016), and New World Development (0017) fell by 4.645%, 2.708%, and 2.083% respectively, making them underperforming blue-chip stocks and one of the reasons for the relatively lagging performance of the Hang Seng Index.

The Hang Seng Index closed with a bearish "shooting star" candlestick pattern, with the closing level just above the 100-day simple moving average (SMA). The MACD indicator turned from bullish to bearish, signaling a weakening trend and a divergence with the Hang Seng Index. There were 799 advancing stocks and 821 declining stocks throughout the day, indicating overall weakness in the market compared to the index, with a slight bearish bias.

In July, the US non-farm payrolls increased by 187,000, falling short of the market expectation of 200,000. The unemployment rate declined to 3.5%, which was lower than anticipated. These data reflect signs of a slowdown in the US job market and are expected to alleviate pressure on the Federal Reserve to raise interest rates. The three major US stock indices initially rose but later fell.

The overnight futures and ADR (American Depository Receipts) have dropped, indicating a potential low opening for the Hang Seng Index. It is recommended to refer to the 200-day simple moving average (around 19,378) for support.

Tongrentang Technology (1666) is primarily engaged in the production and sale of traditional Chinese medicine products.

The group expects a mid-year revenue growth of approximately 28% to 32% compared to the same period last year, with a net profit attributable to the company's owners increasing by approximately 13% to 17% from the same period last year.

The growth of income and profits during the period was mainly due to continuous policy support for the traditional Chinese medicine industry, gradual release of social awareness and brand influence of the group's products, leading to a sustained expansion in demand for the group's products. Additionally, guided by the "large variety" strategy, the group has further boosted sales volume by integrating channels, strengthening control, and focusing on end markets.

The group's stock price has recently shown positive trends and signals in the financial technology system. The group's valuation is relatively high compared to its peers, so it is worth paying attention to. If valued at a price-to-earnings ratio of 15 times, the target price would be 7.65 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.