Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.
37
technical evidence
out of 100
out of 100
Week Ending: 28 August 2026
Hong Kong HK Sector
Technology
For the week ending 28 August 2026, Technology advanced 0.02% with 107 advancing, 165 declining, and 16 unchanged constituents. The index is equal weighted and built from country-listed equities.
Current architecture
Unresolved
The Activity Lines, Trend Line and price acceptance remain genuinely mixed.
37
technical evidence
Index888.33
1 week0.02%
Breadth37%
Members289
Country
🇭🇰 Hong Kong · HK
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
Unresolved
2 completed weeks in this state
Trend acceptance
-6.8%
Index versus Trend Line
Persistence
100%
Negative across every horizon
Participation
37%
107 advancing, 165 declining
Investor positioning lens
Is the evidence ready for capital?
A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.
Evidence balance
Reduce
Five-pillar map
Trend
33
Breadth
28
Persistence
27
Relative
47
Risk quality
76
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 40 percentage points.
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.
The Activity Lines, Trend Line and price acceptance remain genuinely mixed.
State age2 weeks
Trend gateDown
Fan width5.26%
Fast versus slow change2.94 pts
Above 0%
Below 33%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
100% agreement
Negative across every horizon
The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.
13-week
-11.5%
26-week
-14.0%
39-week
-8.7%
52-week
-15.5%
Constituent trend persistence
80% coverage
Is the index move broadly durable?
34%positive
Coherent positive11%
Coherent negative47%
Average horizon agreement85%
Positive horizon share33%
Weakening positives40
Repairing negatives26
231 constituents measured as of 28 Aug 2026. Median trend age is 21 weeks.
Custom stage map
77% coverage
Where constituents sit in the cycle
62%Stage 4
Stage 1 · Basing9%19 securities
Stage 2 · Advancing22%49 securities
Stage 3 · Distribution7%16 securities
Stage 4 · Declining62%139 securities
Re-acceleration watch1
Transition watch12
Relative strength leaders12%
Fair Value repairs14
Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.
Architecture breadth
78/100 mean confidence
How market energy is distributed
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 HK Market Structure
Relative index
13-week relative trend
Starting level
A rising relative line means this group is compounding faster than HK Market Structure. A falling line means capital has done better in the parent benchmark.
Relative index105.1
13-week trend107.7
4-week trend change-1.29%
Weekly peer rank5 of 11
1 week
0.1 pts
relative
4 weeks
2.4 pts
relative
13 weeks
-5.9 pts
relative
26 weeks
-0.7 pts
relative
52 weeks
-4.7 pts
relative
Market internals
Participation, dispersion and path risk
Equal-weight index evidence with constituent-level breadth and dispersion.
Breadth
Narrow
Participation quality
37%
advanced
- Advancing
- 107
- Declining
- 165
- Unchanged
- 16
Risk and persistence
52-week lens
Path quality
Annualised weekly volatility17.6%
Drawdown from 52-week high-19.4%
Positive weeks, last 1338%
Current directional run1 week
Turnover versus 13-week norm166%
Breadth impulse-1.6 pts
Cross-section
288 measured
Return distribution
Q1 -4.0%
Median -0.9%
Q3 2.8%
Average winner7.3%
Average loser-4.5%
Dispersion8.0 pts
Top-five upside share20%
Top-five capital share45%
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.
Industry map
Where sector leadership is forming
Performance, breadth and trend acceptance across every qualified industry.
7/12
positive
Above Trend Line1/128% of industries
Constructive breadth1/12At least half advancing
Median industry0.15%1.52 pts dispersion
#1
Transition
Scientific & Technical Instruments
4.33%
Participation25%
vs Trend-4.8%
vs Fair Value-28.4%
Members4
#2
Repairing
Semiconductor Equipment & Materials
1.43%
Participation56%
vs Trend-7.7%
vs Fair Value9.5%
Members9
#3
Transition
Electronic Components
0.96%
Participation49%
vs Trend-10.6%
vs Fair Value8.2%
Members45
#4
Transition
Communication Equipment
0.54%
Participation36%
vs Trend-0.2%
vs Fair Value28.7%
Members33
#5
Transition
Software - Application
0.37%
Participation40%
vs Trend-7.9%
vs Fair Value-11.3%
Members45
#6
Transition
Electronics & Computer Distribution
0.30%
Participation25%
vs Trend-1.9%
vs Fair Value16.0%
Members12
#7
Transition
Consumer Electronics
0.01%
Participation42%
vs Trend-4.2%
vs Fair Value10.2%
Members19
#8
Weakening
Information Technology Services
-0.61%
Participation35%
vs Trend-2.6%
vs Fair Value15.6%
Members37
#9
Weakening
Semiconductors
-0.65%
Participation27%
vs Trend-9.3%
vs Fair Value14.5%
Members26
#10
Narrowing
Computer Hardware
-0.79%
Participation36%
vs Trend2.0%
vs Fair Value30.7%
Members14
#11
Contracting
Software - Infrastructure
-1.08%
Participation29%
vs Trend-16.2%
vs Fair Value-33.3%
Members34
#12
Contracting
Solar
-1.88%
Participation30%
vs Trend-14.1%
vs Fair Value-37.4%
Members10
News and narrative
Does company news confirm the market tape?
Sentiment evidence is still developing
Qualified company-level news coverage is not yet broad enough to influence the group view.
1 qualified records across 288 measured constituents.Leadership tape
Leaders, laggards and contribution shape
Latest completed week, ranked on uncapped constituent returns.
Constituent ledger
Sector constituents
Top 100 of 288 shown, ranked by latest weekly return.
Rank
Ticker
Company
Exchange
Market cap
Close
Index contribution
Return
8
6869
Yangtze Optical Fibre And Cable Joint Stock Limited Company
HKG
248.14B
170.30
0.08 pts
21.64%
The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.