[ET Net News Agency, 16 April 2026] Reports suggest that the US and Iran are gradually
approaching a framework agreement to end their conflict. Furthermore, market rumours
indicate that both nations are considering extending the ceasefire agreement, due to
expire next Tuesday, by two weeks. Market risk appetite is steadily rising, with the S&P
500 and Nasdaq both hitting record highs, driving a sharp rally in Hong Kong technology
stocks. The Hang Seng Tech Index rose 3% to 5058 points, while the HSI gained 359 points
or 1.4% in the morning session to close at 26306, with main board turnover reaching nearly
HKD 129.8 billion. The Hang Seng China Enterprises Index stood at 8869, up 1.7%. However,
it is worth noting that southbound capital has been hesitant for several days, with a net
inflow of only HKD 703.3 billion this morning.

"Kwok Ka Yiu: Hong Kong stock trend remains decent but lacks breakthrough momentum"

Hong Kong technology stocks continued their upward trend this morning. After opening 175
points higher, the HSI saw further buying interest, with gains widening to over 300 points
by midday. Kwok Ka Yiu, the Director of Business Development at Harbour Family Office,
told ET Net News Agency that it should not be difficult for the HSI to stabilise at 26000
in the short term. Driven by positive external sentiment, the HSI trend is improving,
forming a pattern of higher highs and higher lows, making it easy to maintain key levels.
However, capital flows remain inactive, with southbound capital frequently moving in and
out; thus, an upward breakthrough is unlikely for now.
Kwok pointed out that the market is concerned about the US-Iran situation not just for
the news itself, but more for the direct economic impact of oil prices. Currently, oil
prices have not yet fallen back to pre-US-Iran war levels. The market remains wary of
inflationary concerns brought about by high oil prices, which also limits the momentum for
capital to enter the market.

"Foldable phone shipments may not significantly benefit Lens"

Lens (06613) announced a first-quarter loss of approximately RMB 150 million, compared
to a profit of RMB 420 million in the same period last year; revenue during the period
plunged 17% to RMB 14.1 billion. Following the results, Lens's share price plummeted.
After opening nearly 8% lower this morning, breaking its H-share IPO price of HKD 18.18,
the intraday decline widened sharply, falling by as much as 20% to reach a new H-share low
of HKD 15.68. Kwok stated that today's sell-off clearly indicates the market did not
expect the company to swing to a loss in the first quarter. Until the decline stabilises,
he remains conservative regarding the stock.
He believes that high prices for memory chips and other memory components will persist
at least throughout this year. Although some investment banks are optimistic that the
delivery of foldable mobile screens starting in the second quarter could improve revenue
for Lens, he argues that due to memory prices, mobile phone prices will reflect rising
costs. This, in turn, will weaken the consumer market's desire to upgrade handsets. He
cautioned against being over-optimistic about Lens's second-quarter performance. He
believes that as long as memory prices do not fall, it will continue to act as a negative
factor limiting the share prices of mobile phone manufacturers and suppliers; therefore,
he does not recommend bottom-fishing Lens.