港股收评：连跌2日！科技、金融齐挫，军工股逆势走强

Market Overview - The Hong Kong stock market indices continued to decline for two consecutive days, with the Hang Seng Index closing down 1.17%, the Hang Seng Tech Index down 1.05%, and the Hang Seng China Enterprises Index down 1.09% [1][2]. Sector Performance - Major technology stocks and large financial stocks (banks, insurance, brokerage) showed weak performance, with Meituan and Baidu both dropping over 3% [2][4]. - Gaming stocks continued to decline, with Sands China, Wynn Macau, and Melco International hitting new lows [2][7]. - Conversely, military stocks surged, with companies like AVIC and China Shipbuilding Defense rising over 6% [12]. - Semiconductor stocks generally increased, with Tianzu Intelligent Chip rising over 8% [13]. - Coal stocks were active, with Jinma Energy rising over 11% [15]. Specific Stock Movements - Lenovo Group fell over 5%, while other tech stocks like Meituan, Baidu, Kuaishou, Alibaba, JD.com, and Tencent also experienced declines [4][5]. - In the gambling sector, Sands China fell 4.49%, Melco International dropped 2.84%, and Wynn Macau decreased by 2.00% [7]. - In the automotive sector, Baiteli Holdings plummeted over 14%, with other dealers like Xin Feng Tai Group and Zhongsheng Holdings also declining [9]. - Apple-related stocks weakened, with Sunny Optical Technology dropping over 4% [10]. Economic Indicators - The Macau Gaming Inspection and Coordination Bureau reported that the gross gaming revenue for December 2025 was MOP 20.89 billion, a year-on-year increase of 14.8% [6]. - The China Automobile Dealers Association indicated a decrease in customer traffic and a contraction in demand, predicting a 7% decline in car sales for 2026, marking the first annual drop since 2020 [8]. Investment Outlook - Huatai Securities forecasted that the Hong Kong stock market will exhibit a "high first, low later" trend in the first half of 2026, with potential upward movement before the earnings season, but short-term caution is advised due to concerns over profit realization [22].