Ge Long Hui·2025-08-08 04:06Market Performance - The Hong Kong stock market saw all three major indices decline in the morning session, with the Hang Seng Tech Index dropping as much as 1.3% and closing down 0.99% [1] - The Hang Seng Index and the Hang Seng China Enterprises Index fell by 0.66% and 0.61% respectively, with the Hang Seng Index falling below the 25,000-point mark again [1] Sector Performance - Major technology stocks exhibited weak performance, with Alibaba down 1.7%, Baidu and Tencent dropping over 1%, and Xiaomi, JD.com, and Meituan seeing declines within 0.6% [1] - Semiconductor stocks also faced declines, with SMIC falling by 5.57%, and other semiconductor companies like Hongguang Semiconductor and Huahong Semiconductor following suit [1] - Gaming stocks led by Wynn Macau and MGM China fell after earnings reports, while paper stocks that had previously surged on policy support experienced a pullback [1] - Biopharmaceutical stocks mostly declined, with Hutchison China MediTech dropping over 15%, leading the decline in innovative drug stocks [1] Commodity and Other Stocks - In contrast, gold stocks rose as New York gold futures reached a historical high, with Zhaojin Mining, Zijin Mining, and Tongguan Gold all increasing by over 2% [1] - Heavy machinery stocks saw a general rise, with excavator sales in July increasing by over 25% year-on-year, and Zoomlion rising by over 4% [1] - Power, building materials, and high-speed rail infrastructure stocks mostly increased, with China Metallurgical Group rising by over 6% [1]