PDD(US:PDD) Sou Hu Cai Jing·2025-06-03 02:53Group 1 - The Hang Seng Technology Index experienced a significant fluctuation, dropping over 3% in the morning but recovering by the end of the day, with trading volume approximately half of the last trading day before the holiday [1] - The recent volatility is attributed to two main factors: the U.S. government's announcements regarding tariffs and production requirements for automakers, and disappointing domestic economic data, including PMI and real estate indicators for May [2][4] - The potential for a new round of tariff cycles may lead to a rotation in sectors, with a focus on technology and innovative pharmaceuticals that are less affected by tariffs, suggesting that opportunities may arise in the Hong Kong stock market [2][4] Group 2 - The Hong Kong stock market is a key area for new economy internet companies, with significant representation from major Chinese internet firms in the China Internet ETF, which has seen an 11% increase since April 8 [4][6] - The influx of A-share companies listing in Hong Kong, including major players like CATL and Heng Rui Pharmaceutical, is enhancing the market's focus on "hard technology" [5][6] - The Hong Kong Technology Index, with 50 constituent stocks, offers a broader exposure to sectors such as new consumption, internet, and innovative pharmaceuticals compared to the Hang Seng Technology Index, which has only 30 constituents [9]