Hong Kong Stock Market Technical Adjustment, Increased Risk in Bull Certificate Ratio

OnChainDetective · 2026-02-27T08:06:41+00:00

Recently, the Hong Kong stock market experienced a correction due to external pressures, with the bullish certificate ratio reaching as high as 77%, triggering a risk warning. The market's technical outlook is under pressure, with the Hang Seng Index falling below multiple moving averages. Short-term fluctuations are more likely, and investors should carefully assess the risks.

OnChainDetective

2026-02-27 08:06:41

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Hong Kong’s stock market has experienced a correction amid external pressures. Market data shows that 77% of structured products are call warrants, a level that has attracted industry attention. Guo Shizhi, Vice Chairman of the Hong Kong Stock Analysts Association, pointed out that current market risk awareness needs to be improved.

Technical Pressure on Hong Kong Stocks Under U.S. Market Stress

The performance of overseas stock markets has exerted significant pressure on Hong Kong stocks. Last week, the Hang Seng Index was under downward pressure due to the U.S. market, with several key technical levels being broken. The Hang Seng Index has fallen below the 20-day and 10-day moving averages, indicating a technical adjustment phase. Guo Shizhi believes that although the overall market has seen some fluctuations in the short term, the overall pattern this month still shows a “lower first, then higher” trend, with an unclear technical trend overall.

High Proportion of Call Warrants Raises Investment Risk Warnings

In the context of market adjustments, the structure of Hong Kong stock derivatives becomes particularly important. The 77% ratio of call warrants is relatively high, indicating that bullish sentiment remains concentrated. However, this also suggests a potential “knockout” risk—when the market suddenly turns, a large volume of positions may face forced liquidation. Investors participating in Hong Kong stock derivatives trading need to stay alert and carefully assess their risk tolerance, especially given the current unclear technical outlook.

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