港股收评：午后跳水！科技、大金融低迷，黄金股逆势走强

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 1.18% to 25,524.92, the Hang Seng China Enterprises Index down by 1.07% to 9,148.66, and the Hang Seng Tech Index decreasing by 0.74% to 5,782.24 [1][2] Sector Performance - Major technology stocks saw a broad decline, with Alibaba down 2.57%, Meituan and Baidu nearly 2%, Tencent down 0.81%, and Xiaomi closing flat [4][5] - Financial stocks, including Chinese brokerage and banking stocks, also fell, with notable declines in firms like Xingsheng International down over 6% and Guotai Junan down 4% [6][5] Industry Highlights - The pharmaceutical sector faced significant pressure, with innovative drug and outsourcing stocks like Kelaiying down over 8% and Kanglong Huacheng down 4% due to potential U.S. drug price cuts [7][8] - Real estate stocks declined, with Greentown China down over 6% and Country Garden down over 5%, reflecting market skepticism about the sustainability of recent policy changes [9] Commodity and Gold Stocks - Gold and precious metal stocks surged, with Lingbao Gold rising over 9% and Zhaojin Mining up over 5%, driven by expectations of a potential interest rate cut by the Federal Reserve [10][11] Automotive Sector - The automotive sector showed strength, with Great Wall Motors up over 3% and BYD up over 1%, supported by positive sales data for new energy vehicles [12] Capital Flows - Southbound capital saw a net inflow of 16.573 billion HKD, indicating continued interest from mainland investors [13] Future Outlook - Analysts suggest that Hong Kong stocks have attractive valuations, particularly in sectors like artificial intelligence and innovative pharmaceuticals, with expectations of continued inflows from southbound and foreign capital [14]