Executive Summary

Hong Kong’s biggest stocks are making waves—and now, you can trade them directly on the SGX. With the rise of Singapore Depository Receipts (SDRs), investors no longer need to navigate the complexities of the Hong Kong Exchange (HKEX) to access some of China’s most powerful companies.

3 new Hong Kong (HK) mega-cap stocks, Xiaomi (HXXD), Ping An (HPAD) and Meituan (HMTD) are now tradable on SGX via Singapore Depository Receipts (HK SDR) from 5 March 2025. This adds to the current shelf of 5 HK SDR on SGX (Alibaba, BYD, Tencent, HSBC and BOC), providing thematic exposures to evolving global trends in AI transformation, EV transition, E-commerce, and Financials.

But here’s the real question: Are these top Hong Kong stocks gearing up for a major breakout? In this article, we dive deep into the charts of three high-profile Hong Kong stocks now listed as SDRs on the SGX. Using my One Good Trend (1GT) Strategy, I’ll break down their price action, highlight key support and resistance levels, and uncover the bullish or bearish signals that could shape their next move. Whether you’re looking for the perfect entry point or wondering if these stocks still have room to run, this breakdown will give you a clear roadmap. Don’t miss out—read on to see if these Hong Kong giants are setting up for their next explosive move.

1) Xiaomi Corporation (1810.HK)

Xiaomi Corporation, one of the world’s leading consumer electronics and smart manufacturing companies, is well known for its smartphones, IoT products, and smart home appliances.

The company has gained strong momentum in recent months, driven by increasing demand for its AI-powered devices and innovations in the electric vehicle (EV) space.

Technically, Xiaomi has been in a strong uptrend, with the long-term trend firmly in place.

The 100-day moving average (red line) is positioned above the 200-day moving average (blue line), and both continue to slope upwards, confirming sustained bullish momentum.

The short-term trend is also positive, as seen from the 20-day moving average (green line), which has been rising steadily alongside price gains.

The 1GT (Pro) Indicator has been effective in capturing this uptrend, with a bullish signal appearing near HKD 20 (S$1.70) back in Aug 2024, just before the stock embarked on a strong rally.

As of now, no bearish signals have emerged, suggesting that the trend remains intact.

So how does one take a position in Xiaomi Corporation from the HK SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Xiaomi HK SDR 2to1 (HXXD) currently priced at S$4.58.

Support is well-defined at HKD 50 (S$4.25), where buyers have stepped in multiple times to defend the level.

This presents an opportunity for conservative traders to accumulate on dips, with a stop-loss placed slightly below HKD 50 (S$4.25) to manage downside risk effectively.

Resistance is seen at HKD 60 (S$5.10), with a further upside target at HKD 70 (S$5.95).

Aggressive traders looking for further confirmation may consider an entry on a breakout above HKD 60 (S$5.10), which would indicate continued strength and could open the way toward HKD 70 (S$5.95).

With strong trends in place and the 1GT (Pro) Indicator still validating the bullish momentum, Xiaomi remains well-positioned for potential upside.

Traders should remain disciplined, using well-defined support and resistance levels for entries while keeping risk management in place.

For Xiaomi's HK SDR listed on SGX, the SDR ratio is 2 SDRs to 1 underlying share.

This means the conversion from HKD to SGD should be done by multiplying by the exchange rate of 0.17 and then dividing by 2.

2) Bank of China Ltd (3988.HK)

Bank of China Ltd., one of China’s largest state-owned commercial banks, plays a significant role in global banking and financial services.

The bank has a strong presence in corporate banking, retail banking, and investment banking, with operations spanning across multiple regions.

Its stock has seen a steady uptrend over the past few months, supported by improving financial conditions and investor confidence in China's economic recovery.

Technically, Bank of China remains in a strong long-term uptrend, as indicated by the 100-day moving average (red line) trending above the 200-day moving average (blue line).

Both moving averages are pointing upwards, reinforcing the bullish structure.

The short-term trend remains intact, with the 20-day moving average (green line) sloping upwards and continuing to provide dynamic support as the price trends higher.

The 1GT (Pro) Indicator has been effective in capturing key turning points in the stock.

A bullish signal was first triggered in September 2024 as prices began forming higher lows, and since then, multiple green 1GT bullish signals have emerged, supporting the ongoing rally.

The most recent 1GT bullish signal in Dec 2024 remains in play, highlighting continued buying momentum.

So far, no bearish signals have appeared, confirming that the trend remains firmly to the upside.

So how does one take a position in Bank of China from the HK SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Bank of CN HK SDR 1to1 (HBND) currently priced at S$0.785.

Support is well-defined at HKD 4.40 (S$0.75), where buyers have consistently stepped in to defend the level.

This presents an opportunity for conservative traders to accumulate on pullbacks, with a stop-loss placed slightly below HKD 4.40 (S$0.75) to manage downside risk.

Resistance is seen at HKD 4.60 (S$0.78), with a further upside target at HKD 5.00 (S$0.85).

Aggressive traders may look for an entry upon a confirmed breakout above HKD 4.60 (S$0.78), which would signal continued strength and could open the way toward HKD 5.00 (S$0.85).

With the long-term and short-term trends aligned, and my 1GT (Pro) Indicator still validating the bullish momentum, Bank of China remains well-positioned for further upside.

Traders should continue to apply proper risk management, using well-defined support and resistance levels for strategic entries.

For Bank of China’s HK SDR listed on SGX, the SDR ratio is 1 SDR to 1 underlying share.

This means the conversion from HKD to SGD is simply done by multiplying by the exchange rate of 0.17.

3) Meituan (3690.HK)

Meituan, a leading Chinese technology platform specializing in food delivery, travel booking, and various lifestyle services, has experienced a strong rebound after an extended consolidation period.

The company benefits from a dominant position in China’s on-demand service market, with ongoing expansion into new business segments, including grocery and retail e-commerce.

This resurgence in stock price reflects improving market sentiment toward Chinese tech stocks, alongside optimism surrounding China’s economic recovery.

The long-term trend has turned bullish, with the 100-day moving average (red line) crossing above the 200-day moving average (blue line) since June last year.

Both moving averages are pointing up, reinforcing the strength of the uptrend.

The short-term trend has also turned positive, with the 20-day moving average (green line) reversing higher in the past 2 months, indicating strong momentum in the stock's recent rally.

The 1GT (Pro) Indicator has played a crucial role in signaling this trend shift.

A recent bullish signal emerged near HKD 150 (S$5.10), marking the breakout from a consolidation phase that had persisted since late 2024.

This signal aligns with renewed buying pressure and suggests the stock remains in a strong recovery mode.

The previous 1GT bullish signal in Aug 2024 was also well-timed, occurring just before it spiked up by more than 60% before a bearish signal appeared in Oct 2024.

So how does one take a position in Meituan from the HK SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Meituan HK SDR 5to1 (HMTD) currently priced at S$6.33.

Support is well-defined at HKD 180 (S$6.12), where the breakout level has now turned into a key price floor.

This presents an opportunity for conservative traders to accumulate on dips, with a stop-loss placed slightly below HKD 180 (S$6.12) to manage downside risk effectively.

Resistance is seen at HKD 220 (S$7.48), with a higher resistance zone at HKD 260 (S$8.84).

Aggressive traders may consider an entry upon a breakout above HKD 220 (S$7.48), confirming a continuation of the bullish trend toward HKD 260 (S$8.84).

With both the long-term and short-term trends favoring upside momentum, and my 1GT (Pro) Indicator continuing to validate the trend strength, Meituan remains well-positioned for further gains.

Traders should continue monitoring support and resistance levels closely, while applying disciplined risk management.

For Meituan’s HK SDR listed on SGX, the SDR ratio is 5 SDRs to 1 underlying share.

This means the conversion from HKD to SGD is done by multiplying by the exchange rate of 0.17 and then dividing by 5.

About the Author - Joey Choy

Joey is Singapore’s renowned mentor on how to make an income by trading the stock market, an author and one of the most-watched, quoted and followed stock trading trainers in Singapore. Over the years, he has conducted numerous full house seminars, enriching thousands to trade more profitably. 

Joey’s come back story from a S$740k debt has been featured in the Business Times and inspired thousands in Singapore. In less than 3 years, he is highly regarded as one of the Top Tier Remisiers (Stock Brokers) and Traders, bagging numerous yearly awards like Top Trading Representative and Top CFD Achiever every year from 2014 to 2023 in Phillip Securities.

More about Joey here

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