Group 1 - The Hang Seng Index opened up 0.2%, while the Hang Seng Tech Index fell by 0.03%. Innovative drug concepts saw a collective rise, with Hengrui Medicine increasing by over 1%, and stablecoin stocks surged, with ZhongAn Online rising by over 6% [1] - Huatai Securities noted that the market is currently in a critical phase with a lack of trading themes and important domestic and overseas events pending verification, suggesting it is a window for position adjustment. They remain optimistic about future market trends [1] - China Galaxy suggested focusing on sectors with strong mid-year performance, sectors benefiting from policy support, and high-dividend stocks that can provide stable returns amid uncertainties from U.S. tariff policies [1] Group 2 - CITIC Securities indicated that the mid-year earnings period in August will be a crucial point for the continuation of the Hong Kong stock market, with a shift from liquidity-driven to performance-driven and policy-validated phases expected [2] - Industrial Securities expressed a long-term bullish outlook on the Hong Kong stock market, anticipating a super long bull market, with short-term expectations of upward fluctuations and new highs in the second half of the year [2] - The potential for a Federal Reserve interest rate cut is seen as a catalyst for further liquidity stimulation in the Hong Kong market [2]