TECHTRONIC IND (00669) gained nearly 4% against the market trend, temporarily leading blue-chip stocks. At the time of writing, the stock was up 3.7% to HK$95.4, with a turnover of HK$433 million.

Citigroup issued a research report initiating a 30-day positive catalyst watch on TECHTRONIC IND, reflecting expectations that the Federal Reserve will cut interest rates three times cumulatively by Q1 2026. The report also highlighted strong online sales performance during Thanksgiving and Black Friday.

The bank noted that the robust holiday e-commerce data aligns with management's earlier guidance, indicating sustained strength in point-of-sale figures for its two major brands, Milwaukee and Ryobi, over recent months.

JPMorgan also commented that despite rapid shifts in U.S. rate cut expectations and weaker short-term consumption data amid macroeconomic uncertainties, it sees multiple positive drivers supporting its bullish stance on TECHTRONIC IND.