恒生指数连跌两日 部分半导体股逆势走强

Market Performance - The Hong Kong stock market continues to show weakness, with the Hang Seng Index down 1.27% closing at 25,201.76 points, the Tech Index down 1.47% at 5,697.53 points, and the National Enterprises Index down 1.40% at 9,020.26 points [2][4]. Pharmaceutical Sector - Pharmaceutical stocks are under pressure due to U.S. President Trump's consideration of imposing tariffs up to 250% on imported drugs, which could create significant volatility in the global pharmaceutical industry. This presents both opportunities and challenges for Chinese biopharmaceutical companies [5]. - Notable declines in pharmaceutical stocks include Connoisseur-B (down 8.59%), King’s Ray Biotechnology (down 7.42%), and Kangfang Biologics (down 7.10%) [4]. Brokerage Sector - Brokerage stocks mostly declined, with notable drops in Shenwan Hongyuan (down 6.02%), Dongfang Securities (down 5.78%), and CICC (down 5.64%). However, there are indications of active trading and policy-driven valuation recovery, with increased market activity and record high margin trading balances [6]. Real Estate Sector - Real estate stocks continue to weaken, with China Jinmao down 8.23%, Vanke down 5.35%, and Sunac China down 5%. This follows the recent "Six Measures" policy adjustment in Shanghai, which has not positively impacted related stocks [7][8]. Beverage Sector - Beverage stocks faced declines despite positive earnings reports, with notable drops in Hu Shang Ayi (down 5.84%), Mixue Group (down 5.27%), and Gu Ming (down 3.75%) [9][10]. Technology Sector - Technology stocks also saw declines, with major companies like Beike-W down 6.82%, Kuaishou-W down 3.35%, and JD Health-W down 3.21%. Beike reported a net income of 49.339 billion RMB, a year-on-year increase of 24.13%, but a net profit decrease of 7.2% [11][12]. Semiconductor Sector - Semiconductor stocks performed well against the market trend, with Shanghai Fudan up 3.25%, Hard Egg Innovation up 0.41%, and SMIC up 0.09%. This is attributed to the recent government policy promoting the integration of artificial intelligence and economic sectors [13]. Individual Stock Movements - CSPC Pharmaceutical Group fell 6.36% due to second-quarter revenue and net profit missing expectations, despite management highlighting potential in their EGFR ADC product [14]. - Shuangdeng Co. saw a significant increase of 14.65% on its second day of trading, driven by strong demand during its IPO, with oversubscription rates of 3,876 times for public offerings and 18.75 times for international offerings [15][16].