Hong Kong’s market is navigating a more volatile macro backdrop, as rising geopolitical tensions in the Middle East have pushed oil prices higher and introduced renewed uncertainty across global markets. While broader indices have seen some pressure, strength has started to emerge in selective sectors, particularly energy-related names that benefit directly from higher crude prices.

In this month’s SDR update, we highlight three Hong Kong leaders: PetroChina, BOC, and CATL. Each is showing improving technical structures despite the mixed market environment. Energy names are gaining traction alongside rising oil prices, while financials and EV-related stocks are stabilising at key support levels. With constructive price action and clearly defined levels now in place, these charts provide a clearer roadmap for where the next potential moves could develop as market conditions continue to evolve.

PetroChina Co., Ltd. (857.HK) is one of China’s largest oil and gas producers, with operations spanning exploration, production, refining, petrochemicals, and pipeline transportation. As a key state-owned energy major, it serves as a direct proxy for China’s energy demand trends and global crude oil price movements.

From a technical standpoint, the structure has strengthened meaningfully over the past few months. 

Price is trading firmly above both the 100-day (red line) and 200-day (blue line) moving averages, with both longer-term averages sloping upward, confirming that the broader medium-term uptrend is intact. 

The 20-day (green line) is also rising steadily, reflecting sustained short-term momentum and a healthy trend structure.

A fresh 1GT Bullish signal appeared after the breakout from the HK$9.00 region (S$2.88), with the stock continuing to form higher highs and higher lows, indicating that buyers remain in control. 

Price is now testing the HK$11.00 (S$3.52) level, which previously represented a key psychological resistance level.

If prices can stay firmly above this level, it could open the path toward the next major resistance at HK$11.50 (S$3.68).

Immediate support is now at HK$11.00 (S$3.52), followed by a stronger support at HK$10.50 (S$3.36). 

As long as these levels continue to hold, the overall structure remains constructive and aligned with the prevailing uptrend.

💡 So how does one take a position in PetroChina Co., Ltd. from the HK SDR traded on the SGX?

You can take a position via the PetroChina HK SDR 1to2 (Ticker: HPCD), which trades on the SGX with a 1 SDR to 2 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$3.50–S$3.70, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate closer to the HK$10.50 (S$3.36) support zone on pullbacks. 

More aggressive traders could look to position on a firm breakout above HK$11.00 (S$3.52), supported by a decisive close above resistance, higher-than-average volume, and sustained price action above the level. Keeping in mind the HK$11.50 (S$3.68) level as the next upside target, with HK$10.50 (S$3.36) as the key level that needs to be held for the bullish setup to remain intact.

Bank of China Limited (3988.HK) is one of China’s “Big Four” state-owned banks, with a strong domestic presence and a growing international footprint. It plays a key role in supporting China’s financial system and cross-border trade, making it a core proxy for the country’s banking sector and economic activity.

The structure has been gradually improving after a prolonged consolidation phase. 

Price is currently trading above both the 100-day (red line) and 200-day (blue line) moving averages, with both averages starting to turn higher, a sign that there is more longer-term strength and is transitioning into a more constructive phase. 

The 20-day (green line) is also beginning to trend upward, indicating strengthening short-term momentum.

A recent 1GT Bullish signal appeared around the HK$4.80 region (S$0.77), where the price previously had been capped below this level.

Price has recently broken above the HK$4.80 level (S$0.77), which acts as an immediate support. 

If price is able to stay firmly above this level, it could open the path toward the next resistance at HK$5.20 (S$0.83), where we could see sellers coming back in.

As long as this level holds, the structure remains constructive and suggests that the current recovery could extend further.

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

You can take a position via the Bank of China HK SDR 1to1 (Ticker: HBND), which trades on the SGX with a 1 SDR to 1 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$0.78–S$0.80, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate closer to the HK$4.40 (S$0.70) support zone on pullbacks. 

More aggressive traders could look to position on a confirmed breakout above HK$4.80 (S$0.77), defined by a strong close above this level on above average volume with follow-through buying. With HK$5.20 (S$0.83) as the next upside target, while keeping HK$4.40 (S$0.70) in mind as the key level that needs to be held for the bullish structure to remain intact.

3) Contemporary Amperex Technology Co. (3750.HK); CATL HK SDR 30to1 (HCCD)

Contemporary Amperex Technology Co., Limited (3750.HK), better known as CATL, is the world’s leading manufacturer of lithium-ion batteries for electric vehicles and energy storage systems. As a key player in the global EV supply chain, its performance is closely tied to electric vehicle adoption trends, battery demand, and broader clean energy developments.

From a technical perspective, the structure has recently turned more constructive after a prolonged period of consolidation below the HK$520 (S$2.77). 

A fresh 1GT Bullish signal appeared around the HK$520 region (S$2.77), as the price broke above this key resistance level. 

Since then, the stock has continued to show strength and a strong breakout above HK$600 (S$3.20), with the price now consolidating below the recent highs of HK$700 (S$3.73).

Both the 100-day (red line) and 200-day (blue line) moving averages are trending upward, where the mid to long-term strength remains intact.

The 20-day (green line) has turned sharply higher, reflecting strong short-term momentum following the recent breakout.

The immediate support is around HK$600 ($3.20), with the immediate resistance to watch is HK$700 (S$3.73).

A sustained move above HK$700 (S$3.73) would reinforce the breakout structure and suggest continuation toward the next resistance of HK$750 (S$4.00).

As long as these levels continue to hold, the current structure remains constructive and suggests that the recent breakout may extend further.

💡 So how does one take a position in Contemporary Amperex Technology Co., Limited from the HK SDR traded on the SGX?

You can take a position via the CATL HK SDR 30to1 (Ticker: HCCD), which trades on the SGX with a 30 SDR to 1 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$3.30–S$3.50, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate closer to the HK$600 (S$3.20) support zone on pullbacks. 

More aggressive traders could look to position on a confirmed breakout above HK$700 (S$3.73), supported by more buying interest coming in and keeping the price above the new support level. Keeping in mind,  HK$750 (S$4.00) as the next upside target, with HK$600 (S$3.20) as the key level that needs to be held for the bullish structure to remain intact.

 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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