The Hang Seng Index is gradually approaching the high that it had reached during its 2015 rally. Also, the driving forces behind its rising trend comprise not just the “troika”, but many other players as well.

Translator’s note: “Troika” refers to a carriage pulled by three strong horses; the carriage being the Hang Seng Index and the three horses being the stocks

By “troika”, I am referring to Tencent Holdings Ltd (700.HK), HSBC Holdings PLC (005.HK) and AIA Group Ltd (1299.HK).

However, the big players or institutional investors should be well aware that they cannot just rely on the power of the “three horses” to continuously drive up the Hang Seng Index. Thus, several older strong stocks were able to rise again.

Here are a few to take note of:

1. Hong Kong Exchanges & Clearing Ltd (HKEx)

HKEx (388.HK) rose past the HK$200 mark several times last year, but fell back down and swung back and forth. Though a significant uptrend could be seen only after mid-July, the HKEx has now risen past its two-year high.

However, it is still some distance away from its historical high in 2015, and investors can look forward to further rises. It’s also good news that HKEx’s turnover has exceeded 100 billion Yuan on 1st August.

2. Industrial and Commercial Bank of China Ltd (ICBC)

ICBC (1398.HK)’s movement trend and background are very similar to that of HKEx.

Like the latter, its share price has also reached two-year high but was some distance away from its 2015 high. That “room for improvement” is something investors are optimistic about.

3 & 4. BOC Hong Kong, Hang Seng Bank

The third stock worth noting is BOC Hong Kong (Holdings) Ltd (2388.HK). It is a stock that I have recommended many times in the past, and it repeatedly hit record highs. Though it encountered an abrupt correction in early July and made gradual recovery afterwards, it has now reached a new high again.

Hang Seng Bank Ltd (011.HK) is a similar case, and the two bank stocks have displayed similar trends.

5 & 6. Henderson Land Development Co Ltd, MTR Corp Ltd

Noteworthy stock number five and six are Henderson Land (012.HK) and MTR Corp (066.HK).

The two stocks have something in common — they are some distance away from their 52-week highs. But they had reached a new high not long ago, and their share prices only fell after their ex-dividend dates.

Henderson Land issued one bonus share for every 10 shares, and MTR Corp issued a special dividend of HK$2.2 per share. Both the issuing of bonus shares and special dividends will affect share prices.

However, past historical records have shown that the stocks would eventually recover lost ground.

If you were to look for notable stocks based on the three above mentioned trend patterns, you might actually find more than six examples.

This article was translated from Chinese to English by Chen Xushuang. Click here to read the original article.