Ge Long Hui·2025-10-03 09:21Market Overview - The Hong Kong stock market experienced a pullback after three consecutive days of gains, with the Hang Seng Index closing down 0.54% at 27,140.92 points, the Hang Seng Tech Index down 0.9% at 6,622.85 points, and the National Enterprises Index down 0.68% at 9,658.34 points [1][2]. Sector Performance - In the technology sector, major stocks like BYD, Kuaishou, and Xpeng Motors fell over 3%, while Li Auto and NIO dropped over 2%. Conversely, the electric power equipment sector saw significant gains, with Shanghai Electric rising over 14% and Yihua Tong increasing over 12% [2][3]. - Cryptocurrency-related stocks also performed well, with OKLink rising over 13% and Jinyong Investment increasing over 11% [6][8]. - The automotive sector faced declines, with notable drops from companies like BYD and Kuaishou, while the gaming sector also saw losses, particularly from Galaxy Entertainment and Sands China [10][12]. Company News - Shanghai Electric announced a strategic collaboration in the clean energy sector with a 342 MW photovoltaic project in Romania, marking a significant step in regional energy transformation [5]. - Citigroup raised its earnings forecast for Gaming Corporation for fiscal years 2025 to 2027 by 20% to 24%, adjusting the target price from HKD 4.4 to HKD 5.4, despite maintaining a "sell" rating due to uncertainties surrounding the Naga 3 project [11]. Investment Trends - Southbound funds recorded a net buy of HKD 1 billion, indicating continued interest from foreign investors in the Hong Kong market. CITIC Securities noted that the technology and internet sectors are particularly attractive due to improved earnings and favorable valuations [16].