每日投资策略：恒指收跌472点，三日累跌823点-20250620

Market Overview - The Hang Seng Index closed down 472 points, marking a three-day cumulative decline of 823 points or 3.4% [3][4] - The trading volume for the day was HKD 220.099 billion, with net inflow from northbound trading only HKD 1.43 billion [3] Macro & Industry Dynamics - The Financial Secretary of Hong Kong highlighted new collaborative opportunities between Shanghai and Hong Kong as financial centers, supporting the national "dual circulation" strategy [6] - The Hong Kong Monetary Authority noted that the market remains orderly despite uncertainties regarding future interest rate cuts by the Federal Reserve, which could impact the Hong Kong dollar market and interbank rates [7] - New regulations were introduced to prevent exaggerated and false advertising in the new energy vehicle sector, emphasizing the importance of product quality and safety [8] Company News - Shandong Gold's subsidiary, Shanjin International, plans to issue H-shares and list in Hong Kong to enhance its global strategy and optimize capital structure [11] - Oriental Watch Holdings reported a 19.96% year-on-year decline in net profit for the fiscal year ending March, with total revenue down 5.19% [12] - Li Auto announced that its i8 model is in the final preparation stage for a July launch, positioning it as a competitive electric SUV [13] - Sa Sa International expressed confidence in revenue growth for the fiscal year, citing increased consumer activity and events boosting sales [14]