Market Overview - The Hong Kong stock market failed to maintain its rebound, with the Hang Seng Index closing down 0.94% at 25,781.77 points and a total turnover of 227.54 billion HKD [1] - The largest external uncertainty facing the market is the US-China rivalry, which has impacted investor sentiment and caused short-term volatility [1] Blue Chip Performance - Pop Mart (09992) rose 2.4% to 256.4 HKD, contributing 6.98 points to the Hang Seng Index, with projected revenue growth of 245%-250% year-on-year for Q3 2025 [2] - Other blue chips included China National Pharmaceutical Group (01099) up 4.27% and Shenzhou International (02313) up 1.72%, while Chow Tai Fook (01929) fell 5.65% [2] Sector Performance - Large tech stocks showed weak performance, with Alibaba down nearly 2% and Tencent down over 1% [3] - Gold and silver stocks faced significant declines due to geopolitical factors and profit-taking, with China Silver Group (00815) down 8.33% [4] - Banking stocks were active, with Chongqing Bank (01963) and Agricultural Bank of China (01288) both up 1.56% [4][5] Notable Company Developments - Xuan Bamboo Bio (02575) reached a new high, rising 31.87% after presenting positive clinical trial results for breast cancer treatment [7] - Chalco International (02068) surged 30.52% amid reports of potential asset swaps with Rio Tinto [8] - Guanghe Communication (00638) debuted below its offering price, falling 11.72% [9] - Laopuhuang (06181) saw a significant drop of 8.21% after announcing a discounted share placement [10] - Innovent Biologics (01801) announced a global strategic partnership with Takeda Pharmaceutical, potentially worth up to 114 billion USD [11]