智通财经网·2025-07-11 08:51Market Overview - The Hong Kong stock market showed a volatile upward trend in the morning, with the Hang Seng Index and the Hang Seng China Enterprises Index both rising over 1% at one point. By the close, the Hang Seng Index increased by 0.46% to 24139.57 points, with a total trading volume of 3239.5 billion HKD. For the week, the Hang Seng Index rose by 0.93% [1] - The current dollar index is under pressure due to crowded short positions and cooling interest rate cut expectations, which poses risks to the Hong Kong market. The fundamentals and sentiment indicators for Hong Kong stocks are weakening, with increased competition in the food delivery sector and a weakening AI narrative affecting the Hang Seng Technology Index [1] Blue Chip Performance - WuXi AppTec (02359) led the blue-chip stocks, closing up 10.46% at 88.15 HKD, contributing 4.53 points to the Hang Seng Index. The company issued a profit warning, expecting a revenue of approximately 20.799 billion RMB for the first half of 2025, a year-on-year increase of about 20.64%, and a net profit of 8.561 billion RMB, a year-on-year increase of about 101.92% [2][5] - Other blue-chip stocks included WuXi Biologics (02269) up 3.7%, Hong Kong Exchanges and Clearing (00388) up 2.95%, while China Merchants Bank (03968) and China Resources Mixc Lifestyle (01209) saw declines [2] Sector Highlights - Large technology stocks mostly rose, with Alibaba up 1.84% and Meituan up 1.18%. The biopharmaceutical sector saw significant gains, particularly in the CRO segment, with multiple stocks rising over 10% following WuXi AppTec's positive earnings forecast [3] - Brokerage stocks experienced a collective surge, with South China Financial (00619) up 100.89%, and Zhongzhou Securities (01375) up 47.47%, driven by expectations of virtual asset licenses [3][4] Cryptocurrency and Regulatory Developments - The Hong Kong Special Administrative Region's "Stablecoin Regulation" will take effect on August 1, 2025, allowing certain brokerages to provide virtual asset trading services to professional investors. This has generated significant market interest and may enhance the pricing attractiveness of the securities sector [4] - Bitcoin prices surged over 6%, reaching a new high of 117,919 USD, with other cryptocurrencies also rising. The U.S. House of Representatives has designated the week of July 14 as "Cryptocurrency Week" to discuss new regulatory frameworks [6] Steel and Semiconductor Sectors - The steel sector saw early gains, with Chongqing Steel (01053) up 4.08% and Maanshan Steel (00323) up 3.74%. Analysts suggest that ongoing "anti-involution" policies may improve the supply-demand dynamics in the steel industry [7] - Semiconductor stocks were active, with Hua Hong Semiconductor (01347) up 4.12% and SMIC (00981) up 2.22%. TSMC reported a revenue of 263.71 billion NTD for June, a decrease of 17.7% month-on-month but a 26.9% increase year-on-year [8] Notable Stock Movements - Xirui (02507) reached a new high, closing up 14.01% at 48 HKD, driven by developments in the general aviation sector [9] - NIO-SW (09866) rose 5.98% to 29.25 HKD following the announcement of its new product launch [11] - Gold stocks, particularly Laopu Gold (06181), faced significant declines, dropping 11.42% after a recent high [13][14]