今日港股整体表现疲弱，截至收盘，恒生指数跌1.05%，国企指数跌0.94%，恒生科技指数跌1.24%

Core Viewpoint - The large technology stocks in Hong Kong are experiencing collective weakness, with significant declines in major companies such as Alibaba, Xiaomi, Meituan, JD, and Tencent, leading to a drop in the Hang Seng Index and a record low in trading volume for the year [1][4]. Group 1: Market Performance - The Hang Seng Technology Index fell by 1.24% to 5749.98, with Alibaba down 3.49% to 160.40, and Xiaomi down 1.67% to 36.48 [2]. - The total trading volume for the Hang Seng Index was 2256.89 million HKD, marking the fourth consecutive day of decline and the lowest level since the beginning of the year [4]. - Short selling amounted to 211.93 million HKD, representing 9.39% of the total trading volume, indicating a continued low level of market activity [4]. Group 2: Sector Performance - The AI application sector is experiencing a significant pullback, with leading companies in this area seeing declines of over 10%, reflecting a shift in investor sentiment towards profit-taking [6]. - In contrast, the aviation sector showed strong performance, with energy assets such as power equipment and nuclear power also gaining traction [3]. - Other sectors like biomedicine, non-ferrous metals, and finance are retreating from recent highs, contributing to the overall market downturn [1][6]. Group 3: External Factors - The market is facing downward pressure due to geopolitical risks in the Middle East and a renewed tariff dispute between the US and Europe, which are impacting investor sentiment [6]. - The overall market mood is cautious, with a notable decrease in risk appetite among investors, influenced by external economic factors [6][10]. - Analysts suggest that while the Hong Kong market is in a long-term upward trend, it is currently under pressure from various external factors, leading to a mixed outlook for the future [10].