Ge Long Hui·2025-05-26 08:51Market Overview - The Hong Kong stock market experienced a collective decline, with the Hang Seng Tech Index dropping by 1.7%, marking three consecutive days of losses [1] - The Hang Seng Index and the China Enterprises Index fell by 1.35% and 1.7%, respectively, indicating a bearish market sentiment [1] Sector Performance - Major technology stocks declined, with Meituan falling over 5% and Xiaomi down over 3%. Other tech giants like Alibaba, JD.com, Tencent, and Baidu also saw losses, while Bilibili gained over 1% [4][5] - The automotive sector faced significant losses, with Geely Auto dropping over 9% and BYD and Li Auto both down over 8%. This was attributed to intensified price competition in the market [6] - Biopharmaceutical stocks also retreated, with Rongchang Bio falling over 10% and Zai Lab down over 6%, influenced by upcoming regulatory changes in drug pricing [7] Notable Stock Movements - Nuclear power stocks surged, particularly China National Nuclear Corporation, which skyrocketed by 186% following President Trump's executive orders to accelerate nuclear power plant construction [2][9] - Airline stocks saw gains, with China Airlines rising over 5% and both China Eastern and China Southern Airlines increasing by over 3%, supported by improved passenger traffic data [10] Capital Flows - Southbound funds recorded a net sell-off of HKD 1.507 billion, with the Shanghai-Hong Kong Stock Connect seeing a net buy of HKD 1.856 billion and the Shenzhen-Hong Kong Stock Connect a net sell of HKD 3.363 billion [10] Future Outlook - CITIC Securities highlighted that the recent influx of A-share companies listing in Hong Kong is driven by strategic overseas expansion, regulatory advantages, and improved liquidity in the Hong Kong market [12]