Market Overview - The Hong Kong stock market faced downward pressure, with the Hang Seng Index falling by 1.34% to 25,628.88 points, and a total trading volume of HKD 204.29 billion [1] - The Hang Seng China Enterprises Index dropped by 1.78% to 8,917.7 points, while the Hang Seng Tech Index decreased by 2.48% to 5,498.42 points [1] Blue-Chip Stocks Performance - Li Ning (02331) led the blue-chip stocks, rising by 5.43% to HKD 18.64, contributing 3.53 points to the Hang Seng Index [2] - New Oriental-S (09901) increased by 2.81% to HKD 43.2, contributing 1.46 points, while China Ping An (02318) rose by 2.35% to HKD 65.25, contributing 16.07 points [2] - Hansoh Pharmaceutical (03692) fell by 7.58% to HKD 39.74, negatively impacting the index by 7.88 points, and SMIC (00981) dropped by 4.43% to HKD 64.7, contributing a decline of 21.64 points [2] Sector Performance - Major technology stocks generally declined, with Alibaba down by 3.57% and Tencent by 2.11%, amid renewed concerns over an AI bubble following disappointing earnings from leading AI companies [3] - Gold stocks saw significant gains as international gold prices approached historical highs, with Zijin Mining (02259) rising by 7.76% to HKD 158.4 [3] - Dairy stocks also performed well, with Yurun Dairy (09858) increasing by 7.67% to HKD 4.63, supported by favorable policies for childbirth [4] Insurance Sector - The insurance sector showed strong performance, with China Ping An (02318) reaching a four-year high, rising by 2.35% to HKD 65.25 [5] - Other insurers like New China Life (01336) and China Pacific Insurance (02601) also saw gains, attributed to regulatory changes that allow for more long-term investment funds [5][6] Notable Stock Movements - CloudTop New Horizon (01952) rose by 4.55% to HKD 46.88, with significant insider buying reported [7] - Sanhua Intelligent Control (02050) faced pressure, dropping by 7.25% to HKD 33.78, ahead of a significant unlock of cornerstone investor shares [8]