Ge Long Hui·2025-09-22 08:54Market Performance - The three major Hong Kong stock indices closed lower, with the Hang Seng Index down 0.76% at 26,344 points, the Hang Seng China Enterprises Index down 1.07% at 9,370 points, and the Hang Seng Tech Index down 0.58% at 6,257 points, indicating a weak and fluctuating market after reaching a new high last Thursday [1]. Stock Movements - Major technology stocks showed weak performance, with JD.com down 3.3%, Kuaishou and Meituan down over 2%, and NetEase and Xiaomi down over 1%. Tencent also declined, while Baidu rose over 3% and Alibaba barely turned positive [3]. - Large financial stocks, including banks, insurance, and brokerage firms, generally fell, contributing to the market's decline [3]. - Shipping and port stocks dropped collectively due to the impending high port fees, with COSCO Shipping Energy down nearly 6% and other related stocks down over 5% [3]. - Automotive stocks also declined, highlighted by Berkshire Hathaway's complete liquidation of its investment in BYD, which fell over 3% [3]. Sector Highlights - Strong pre-order demand for new iPhone models in China led to significant gains in Apple-related stocks, with Hong Teng Precision rising nearly 18% and other related companies seeing increases of over 10% [3]. - The semiconductor industry is experiencing accelerated domestic substitution, with semiconductor stocks maintaining an upward trend throughout the day, particularly SMIC, which rose over 5% to reach a new historical high [3].