Zhi Tong Cai Jing·2025-11-14 08:57Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling 1.85% to close at 26,572.46 points, and the Hang Seng Technology Index dropping 2.82% to 5,812.8 points, amid a sell-off in US tech stocks and hawkish comments from multiple Federal Reserve officials [1] - The overall trading volume for the day was HKD 232.79 billion, with the Hang Seng Index showing a weekly increase of 1.26% [1] Blue-Chip Performance - JD Health (06618) led the blue-chip stocks, rising 6.59% to HKD 68.75, contributing 7.49 points to the Hang Seng Index, following a strong Q3 performance with revenue of RMB 17.12 billion, a 28.7% year-on-year increase [2] - Other notable blue-chip movements included Hansoh Pharmaceutical (03692) up 2.18%, and WH Group (00288) up 1.64%, while Alibaba (09988) fell 4.38%, negatively impacting the index by 107.48 points [2] Sector Performance - Major technology stocks faced pressure, with Alibaba down over 4% and Tencent down over 2% [3] - The cryptocurrency market also suffered, with Bitcoin dropping below USD 100,000, and related stocks declining [3] - The healthcare sector saw some stocks gaining traction, with several rising over 10%, while hydrogen energy stocks experienced significant gains, with Reshape Energy (02570) surging over 70% at one point [3][4] Cryptocurrency Market - Bitcoin fell below USD 97,000, with a 24-hour decline exceeding 6%, while Ethereum dropped nearly 10% [5] - The correlation between Bitcoin and the Nasdaq index remains high at 0.8, indicating a strong relationship with market sentiment [5] Pharmaceutical Sector Insights - The pharmaceutical industry is expected to see stable growth driven by innovation and supportive policies, with a focus on clinical value and market pricing [6] - Notable pharmaceutical stocks included 旺山旺水-B (02630) up 23.89% and 歌礼制药-B (01672) up 15.46% [5][6] Hydrogen Energy Developments - The National Energy Administration is promoting green hydrogen projects, with plans to deploy over 2,000 hydrogen vehicles and establish 38 refueling stations [7] - Recent policies are expected to accelerate the adoption of fuel cell vehicles, with significant growth anticipated in the sector [7] Notable Stock Movements - 中集集团 (02039) saw a significant increase of 14.17% to HKD 8.3, attributed to its competitive edge in the energy storage sector [8] - 派格生物医药-B (02565) reached a new high, rising 12.15% to HKD 63.25 following the approval of its new drug application [9] - 基石药业-B (02616) gained 10.75% to HKD 6.08, supported by a recent increase in holdings by the Government of Singapore Investment Corporation [10] - 伟易达 (00303) faced a decline of 12.11% to HKD 58.8 after reporting a revenue drop of 9.05% for the past six months [10]