Market Performance - The Hong Kong stock market saw a significant early rise but narrowed gains in the afternoon, with the Hang Seng Index closing at 26,848.47 points, up 239.99 points, or 0.90% [1] - The total trading volume for the day was 315.2 billion HKD, showing a slight increase compared to the previous day [1] Sector Highlights - Gold stocks continued their upward trend, with China Gold International (HK02099) rising over 7%, Lingbao Gold (HK03330) up nearly 3%, and Zijin Mining (HK01818) and Shandong Gold (HK01787) both increasing over 2% [3] - The Hang Seng Tech Index closed at 5,869.79 points, up 6.59 points, or 0.11% [4] Company News - Citigroup has aggressively raised its short-term outlook for precious metals, predicting gold prices could reach 5,000 USD/oz and silver 100 USD/oz within three months due to escalating geopolitical risks, physical shortages, and uncertainties in Federal Reserve policies [6] - Innovative drug concept stocks performed well, with WuXi AppTec (HK02359) rising over 8% [7] - WuXi AppTec announced an expected annual revenue of 45.456 billion CNY, a year-on-year increase of 15.84%, with adjusted net profit expected to rise by approximately 41.33% to 14.957 billion CNY [9] - Rongchang Biopharmaceutical (HK09995) signed an exclusive licensing agreement with AbbVie for its new dual-target PD-1/VEGF antibody drug RC148, receiving an upfront payment of 650 million USD and potential total payments of up to 5.6 billion USD [11] Market Outlook - Guosen Securities noted that the Hong Kong stock market has not yet fully strengthened, with traditional industries still dominating, and concerns over intensified competition among internet companies affecting market sentiment [13] - The pricing power of Hong Kong stocks is influenced by overseas risk appetite, and the appreciation of the RMB is being offset by profit-taking sentiment [13] - The AH premium index indicates that quality H-shares are preferred over A-shares, with domestic investors favoring leading companies through southbound channels [13]