Mei Ri Jing Ji Xin Wen·2025-07-07 02:11Group 1 - The Hong Kong stock market opened lower on July 7, with the Hang Seng Index down 0.36% at 23,828.85 points, the Hang Seng Tech Index down 0.46%, and the National Enterprises Index down 0.38% [1] - Technology stocks experienced a broad decline, while tea beverage stocks saw an increase. Stablecoin-related stocks rose, and the biotechnology sector was active [1] - Meituan's stock fell over 3% amid a surge in orders, with over 1.2 billion instant retail orders placed on July 5, including more than 1 billion food orders [1] Group 2 - The valuation of the Hong Kong technology sector is currently at a relatively low level after nearly a quarter of adjustment, with the latest valuation (PETTM) of the Hang Seng Tech Index ETF at 19.76 times, which is below 92% of the time since the index was launched on July 27, 2020 [2] - There is potential for significant upward movement in the technology sector, driven by high growth and elasticity characteristics, once favorable events act as catalysts [2] - Improved sentiment and ample liquidity are crucial foundations for the next phase of growth in the Hong Kong technology sector, awaiting thematic catalysts related to technology narratives [2]