港股开盘 | 恒生指数低开0.83% 科网股领跌

Group 1 - The Hang Seng Index opened down 0.83%, with the Hang Seng Tech Index falling 1.08%, led by declines in tech stocks, while oil stocks rose, with China National Offshore Oil Corporation and PetroChina both increasing by nearly 2% [1] - Huatai Securities noted that despite recent market pullbacks due to geopolitical risks, local liquidity concerns, and adjustments in AH trading, there is no need for excessive worry as the geopolitical situation is observable but unpredictable [1] - The report suggests that the Hong Kong dollar's weakness is a technical pressure, and liquidity tightening mainly affects local small and mid-cap stocks, while the AH premium is expected to fluctuate around 128 in the short term [1] Group 2 - Huaxi Securities anticipates further digestion of pressure in the Hong Kong stock market, with previously overheated assets likely to see profit-taking, advising against indiscriminate chasing of high prices [2] - CITIC Securities highlighted that the previously strong-performing new consumption and innovative pharmaceutical sectors in Hong Kong have recently adjusted, impacting related A-share sectors, with liquidity and risk appetite under pressure [2] - China Galaxy Securities recommends focusing on core business stable central state-owned enterprises while also paying attention to the media internet sector and AI-driven industries, supported by a threefold logic of capital repair, policy catalysis, and quality stock inflow [2] Group 3 - CICC observed that the Hong Kong market significantly outperformed A-shares in the first half of the year, showcasing resilience, but noted that the rebound has been characterized by "impulse-style" surges followed by pullbacks, with only about 35% of stocks outperforming the index [3] - Guotai Junan pointed out that while macroeconomic conditions lack upward elasticity, profound changes are occurring at the industrial level, with new consumption and AI applications becoming more attractive to the market [3] - The outlook for the second half suggests that fundamental recovery and improved liquidity may drive the Hong Kong market upward, with a focus on the Hang Seng Tech Index [3]