Week Ending: 28 August 2026

Hong Kong HK Industrials Industry

Waste Management

For the week ending 28 August 2026, Waste Management declined 0.83% with 14 advancing, 7 declining, and 2 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Downward Expansion

The activity fan is bearishly ordered below the Trend Line with price accepted beneath it.

43 technical evidence

Index1241.51 1 week-0.83% Breadth61% Members23

Country 🇭🇰 Hong Kong · HK

Sector Industrials

Universe country-listed

Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture

Current architecture Downward Expansion 1 completed week in this state

Trend acceptance -6.5% Index versus Trend Line

Persistence 25% Positive regime, shorter trend weakening

Participation 61% 14 advancing, 7 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Reduce exposure into strength

Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.

43 technical evidence
out of 100

Evidence balance

Five-pillar map

Reduce

Trend

Breadth

Persistence

Relative

Risk quality

What supports the view

No major confirming factor has secured control.

What restrains conviction

Index trend architecture has not delivered a durable upward expansion.
Breadth remains too narrow or inconsistent for a high-conviction position.
Constituent persistence remains divided or predominantly negative.
The group is not yet delivering dependable relative outperformance.
Stage 4 declining constituents exceed Stage 2 advancing constituents by 39 percentage points.

Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view

A completed weekly reclaim of 1,328.10, the higher of Trend Line and Fair Value, would improve the structural case.
Breadth holding above 55% for several completed weeks would show that repair is spreading.
Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Downward Expansion

The activity fan is bearishly ordered below the Trend Line with price accepted beneath it.

State age1 weeks

Trend gateDown

Fan width3.76%

Fast versus slow change1.25 pts

Above 0% Below 50%

Six completed weeks of price acceptance relative to the full Activity Line fan.

Index persistence

Positive regime, shorter trend weakening

25% agreement

The long trend remains positive, but the 13-week horizon has turned against it.

13-week

-7.1%

26-week

-13.2%

39-week

-2.8%

52-week

0.2%

Regime age2 weeks 52-week flips2 52-week boundary1238.72

Constituent trend persistence

Is the index move broadly durable?

100% coverage

48%positive

Coherent positive9%

Coherent negative35%

Average horizon agreement79%

Positive horizon share38%

Weakening positives6

Repairing negatives1

23 constituents measured as of 28 Aug 2026. Median trend age is 12 weeks.

Custom stage map

Where constituents sit in the cycle

100% coverage

61%Stage 4

Stage 1 · Basing4%1 securities

Stage 2 · Advancing22%5 securities

Stage 3 · Distribution13%3 securities

Stage 4 · Declining61%14 securities

Re-acceleration watch0 Transition watch0 Relative strength leaders4% Fair Value repairs1

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

76/100 mean confidence

Upward expansion

13% 3

Rotation up

4% 1

Deceleration

9% 2

Balance

13% 3

Rotation down

4% 1

Downward expansion

57% 13

Unresolved

0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to Industrials

Weakening

Relative index 13-week relative trend Starting level

Rotation dashboard Weakening

A rising relative line means this group is compounding faster than Industrials. A falling line means capital has done better in the parent benchmark.

Relative index106.9

13-week trend107.8

4-week trend change-0.45%

Weekly peer rank15 of 23

1 week

-0.8 pts relative

4 weeks

-1.9 pts relative

13 weeks

-1.9 pts relative

26 weeks

-4.0 pts relative

52 weeks

-3.0 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Broad

61% advanced

Advancing: 14
Declining: 7
Unchanged: 2

4-week average 46%

13-week average 39%

Risk and persistence

Path quality

52-week lens

Annualised weekly volatility12.8%

Drawdown from 52-week high-13.4%

Positive weeks, last 1354%

Current directional run1 week

Turnover versus 13-week norm95%

Breadth impulse23.9 pts

Cross-section

Return distribution

23 measured

Q1 -3.9% Median 1.8% Q3 3.5%

Average winner3.4%

Average loser-9.6%

Dispersion6.6 pts

Top-five upside share57%

Top-five capital share84%

Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence

Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 23 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 1196Realord Group Holdings Limited

6.86% 2 0154Beijing Enterprises Environment Group Limited

6.33% 3 1272Datang Environment Industry Group Co., Ltd.

5.24% 4 2265Hongcheng Environmental Technology Company Limited

5.14% 5 0587China Conch Environment Protection Holdings Limited

3.85%

Weakest edge

23 0646China Environmental Technology Holdings Limited

-17.69% 22 0979Green Energy Group Limited

-14.52% 21 8320Allied Sustainability and Environmental Consultants Group Limited

-11.11% 20 8309Man Shing Global Holdings Limited

-9.88% 19 8472Lapco Holdings Limited

-6.04%

Constituent ledger

Industry constituents

All 23 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return

1 1196 Realord Group Holdings Limited HKG 13.72B 8.64 0.30 pts

6.86%

2 0154 Beijing Enterprises Environment Group Limited HKG 607.65M 0.42 0.28 pts

6.33%

3 1272 Datang Environment Industry Group Co., Ltd. HKG 3.26B 1.10 0.23 pts

5.24%

4 2265 Hongcheng Environmental Technology Company Limited HKG 1.20B 1.12 0.22 pts

5.14%

5 0587 China Conch Environment Protection Holdings Limited HKG 502.36M 0.27 0.17 pts

3.85%

6 6812 Winson Holdings Hong Kong Limited HKG 156.00M 0.235 0.15 pts

3.52%

7 1483 Net-A-Go Technology Company Limited HKG 999.73M 1.18 0.15 pts

3.49%

8 1330 Dynagreen Environmental Protection Group Co., Ltd. HKG 8.66B 5.54 0.13 pts

2.97%

9 0257 China Everbright Environment Group Limited HKG 30.59B 5.20 0.12 pts

2.87%

10 1395 ELL Environmental Holdings Limited HKG 150.59M 0.136 0.10 pts

2.26%

11 0895 Dongjiang Environmental Company Limited HKG 1.87B 1.70 0.08 pts

1.80%

12 1065 Tianjin Capital Environmental Protection Group Company Limited HKG 5.87B 3.75 0.08 pts

1.76%

13 3989 Capital Environment Holdings Limited HKG 1.16B 0.081 0.05 pts

1.25%

14 1397 Baguio Green Group Limited HKG 315.40M 0.775 0.03 pts

0.65%

15 3718 Beijing Enterprises Urban Resources Group Limited HKG 1.44B 0.405 0.00 pts

0.00%

16 8201 PPS International (Holdings) Limited HKG 60.48M 0.12 0.00 pts

0.00%

17 8196 Futian Holdings Limited HKG 52.46M 0.795 -0.13 pts

-3.05%

18 6805 Kimou Environmental Holding Limited HKG 3.49B 2.95 -0.20 pts

-4.68%

19 8472 Lapco Holdings Limited HKG 29.95M 0.249 -0.26 pts

-6.04%

20 8309 Man Shing Global Holdings Limited HKG 43.80M 0.073 -0.43 pts

-9.88%

21 8320 Allied Sustainability and Environmental Consultants Group Limited HKG 67.45M 0.112 -0.48 pts

-11.11%

22 0979 Green Energy Group Limited HKG 339.08M 0.265 -0.63 pts

-14.52%

23 0646 China Environmental Technology Holdings Limited HKG 41.12M 0.107 -0.77 pts

-17.69%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.