港股收评：恒指跌0.61%！券商板块集体哑火，军工、黄金股逆势走强

Market Overview - The Hong Kong stock market experienced a collective decline on June 26, with the Hang Seng Index falling by 0.61%, the National Enterprises Index down by 0.63%, and the Hang Seng Technology Index decreasing by 0.26%, ending a four-day rising streak [1][2]. Sector Performance - Brokerage stocks, which had previously led the market, performed poorly, with notable declines including Guotai Junan down nearly 6% and other major firms like CICC and CITIC Securities also experiencing losses [2][5]. - Automotive stocks fell, with Geely Automobile dropping nearly 5%, and other companies like BYD, Xpeng, and NIO also seeing declines [6][7]. - Coal stocks decreased, with China Shenhua down over 4%, alongside other coal companies [8]. - Military stocks saw significant gains, with China Shipbuilding Defense rising over 6%, driven by geopolitical tensions and upcoming military events [9]. - Gold stocks strengthened, with Shandong Gold and Lingbao Gold both increasing by over 6%, reflecting a favorable environment for gold as a safe-haven asset [10]. - Tourism stocks surged, particularly Hong Kong Travel, which rose nearly 86%, supported by increased visitor numbers [11][12]. Individual Stock Highlights - Kuaishou saw a rise of over 3%, while major tech stocks like Xiaomi, Baidu, JD.com, and Tencent experienced slight increases, whereas Alibaba and Meituan faced declines [3][4]. - The stock of Rongchang Biotechnology fell sharply, dropping over 11% after reaching a new high, attributed to a licensing deal with VorBio [13][15]. Analyst Insights - Analysts from Morgan Stanley noted that H-shares and A-shares brokerage stocks had seen average increases of 12.6% and 6.3% respectively over the past five days, indicating a potential growth opportunity in the financial sector [5]. - Ping An Securities highlighted the undervaluation of Hong Kong stocks, suggesting continued focus on sectors such as artificial intelligence, robotics, and innovative pharmaceuticals [17].