港股风向标｜权重板块遭挫热点轮番调整 恒指短线4连跌考验下方支撑

Market Overview - The Hong Kong stock market continued to decline, with the Hang Seng Index falling by 1.07%, the National Enterprises Index down by 0.88%, marking four consecutive days of decline, and the Hang Seng Tech Index dropping by 1.02%, experiencing a seven-day downward trend [1][2] Stock Performance - Major technology stocks showed mixed results, with Baidu and Alibaba rising by 1% each, while Tencent fell nearly 3%, and Kuaishou dropped by 3.12% [2][3] - The Hang Seng Tech Index closed at 5397.40, down by 55.74 points or 1.02% [3] Sector Analysis - Financial and large-cap stocks faced renewed pressure, with many pharmaceutical stocks in the innovative drug sector experiencing significant declines [2][4] - The "anti-involution" concept saw a rebound, with paper and logistics stocks becoming active due to policy support [4][7] Trading Volume and Short Selling - The total trading volume for the Hang Seng Index was HKD 254.67 billion, indicating a noticeable decrease in volume compared to previous days [4] - The total short selling amount reached HKD 28.89 billion, accounting for 11.34% of the trading volume, with Tencent, Meituan, and Xiaomi leading in short selling amounts [5][4] Future Outlook - The market is currently testing support levels around 24,000 points, with potential for a rebound as short-selling pressures have eased [9] - Analysts suggest that the Hong Kong market remains within a reasonable valuation range compared to A-shares, with long-term recovery potential in technology and pharmaceutical sectors [11]