Zhi Yaohui, director of research at Yaocai Securities, said that US stocks were built overnight (10 days), inflation data were milder than expected, technology stocks were significantly better, the Dow closed up 535 points or 1.6%, and the S & P 500 and Nasdaq rose better, with the former up 2.1% and the latter up 2.9%. As for Hong Kong stocks, dragged down by private housing and technology stocks, the Hang Seng Index once lost 19500 points, falling as low as 19469 points at most. Although the decline narrowed at the end of the day, it was still down 392 points to 19610 points, while turnover increased slightly to $89.27 billion. Inner housing stocks are the hardest hit in the falling market, with 00960.HK falling nearly 20% at one time, the bank slashed its target, and there are rumors that its commercial paper is overdue, which has become the main cause of the stock price drop. Other internal housing stocks also performed poorly, with country Garden (02007.HK) hitting a new low for at least five years and China overseas (00688.HK) losing the 20 yuan mark at one point. Although Longhu has clarified and the stock price is expected to rebound, the debt problem is still the most lingering haze in the inner house, and investors have become frightened by the negative news about the inner house. I am afraid that it will still be a drag on the performance of the relevant shares, and investors are still not advised to absorb the inner house or even the inner silver stocks for the time being. As for the direction of the market, although the Hang Seng Index fell sharply yesterday, I still have reservations about whether it reflects that the Hang Seng Index will break down, the trading volume is still low, and the market seems to have some support near 19500 points, so continue to pay attention to whether the market can maintain this lower level for the time being. Due to the significant improvement in US stocks the next night, Hong Kong stocks are also expected to rebound, but 20000 points are also the main resistance in the near future. (the author is the SFC licensee and does not hold the relevant shares) ******* The Hang Seng Index is expected to rebound the resistance level of 20000 points. According to the Yaocai Research Department, the better-than-expected CPI data in the United States in July slightly cooled investors' worries about inflation. in the hope that inflation would peak and the pace of interest rate increases by the Federal Reserve slowed down, US stocks continued to perform well the next night (10 days), with the Nasdaq surging nearly 3 per cent. As for the general rebound in Chinese stocks, the Jinlong index rebounded by more than 1.6%. Due to the good performance of US stocks overnight and the clarification notice issued by 00960.HK after the close of trading yesterday, Hong Kong stocks are expected to rebound strongly today, but there are still many variables in the future, especially as Sino-US relations and inner housing problems always bring variables to Hong Kong stocks in the future. In addition, the low trading volume also reflects the low desire of investors to enter the market. It is expected that even if the market rebounds, the space is still very limited, and the 20000-point level will be a relatively large resistance area in the short term. In addition, a number of blue chips, including China Mobile (00941.HK), Li Ning (02331.HK) and MTR (00066.HK), will announce their interim results today (11). The performance will also have some implications for the future. In terms of technical trends, the Hang Seng Index lost 19500 points yesterday and rebounded before the close, but the overall trend is still not optimistic and seems to be subject to 10 antennas or 20043 points in the short term. In addition, the Hang Seng Index is also in a downward channel, and unless it can break through the top of the channel about 20132 points in the future, it will be difficult to break through the downward trend for the time being. (the author is the SFC licensee) ~