Ge Long Hui·2025-06-13 08:56Market Overview - The Hang Seng Index fell by 0.59% to close at 23,892.56, while the Hang Seng Tech Index experienced the largest decline of 1.72% to 5,239.71 [1][2] - The geopolitical tensions in the Middle East have heightened risk aversion, contributing to the overall market downturn [1] Sector Performance - The innovative drug sector saw a significant pullback, with CloudTop falling over 12%, and other biotech stocks also declining [2][6] - Automotive stocks continued to decline, with Xpeng Motors dropping over 5% and other major players like NIO and BYD also experiencing losses [5][6] - Airline stocks were negatively impacted by a recent Boeing 787 crash, with China Southern Airlines falling nearly 3% [8] - Gold and oil prices surged due to geopolitical tensions, leading to gains in gold and oil stocks, with Chifeng Gold rising over 10% [11][12] Individual Stock Movements - Alibaba fell by over 2%, while Meituan and JD.com dropped more than 1% [3][4] - Xpeng Motors saw a decline of 5.17%, while NIO and other automotive stocks followed suit [5] - In the gold sector, Chifeng Gold rose by 10.55%, reflecting the increase in gold prices [12] - Shandong Molong surged over 75% in the oil and gas equipment sector, indicating strong market interest [10] Company News - Chow Tai Fook reported a revenue of HKD 89.656 billion for the fiscal year ending March 31, 2025, a decrease of 17.53% year-on-year, with a net profit of HKD 5.916 billion, down 8.97% [18] - The company announced a final dividend of HKD 0.32 per share, with a payout ratio of 87.8% [18] - Morgan Stanley raised its target price for Chow Tai Fook from HKD 13 to HKD 14, maintaining an "overweight" rating [18] Investment Sentiment - The market sentiment remains cautious due to ongoing geopolitical tensions and potential trade tariff increases, which may hinder foreign capital inflow into the Chinese market [20]