XIAOMI(HK:01810) 中国基金报·2025-06-27 10:33Market Overview - The Hang Seng Index closed down 0.17% at 24,284.15 points, while the Hang Seng Technology Index fell 0.07% to 5,341.43 points, and the Hang Seng China Enterprises Index decreased by 0.47% to 8,762.47 points [1][2][3]. Sector Performance - The automotive, pharmaceutical, and banking sectors experienced declines, whereas the non-ferrous metals sector saw gains [3][4]. Non-Ferrous Metals Sector - The non-ferrous metals sector rose against the market trend, with Jiangxi Copper Co. increasing by over 7%, Tianqi Lithium and Luoyang Molybdenum both rising by over 6%, and Zijin Mining among the top gainers [5][6]. - Geopolitical tensions have eased this week, leading to a rebound in global risk appetite and renewed interest in commodities. Goldman Sachs forecasts that copper prices will peak at approximately $10,050 per ton by August 2025 due to tightening supply outside the U.S. [6]. Automotive Sector - Xiaomi Group's stock rose by 3.6%, while automotive stocks generally declined, with XPeng Motors down 3.17%, NIO down 1.84%, and BYD down 1.19% [9][10]. - Market analysts suggest that the automotive sector may be impacted by Xiaomi's competitive pricing strategy for its new YU7 series, with expectations of monthly sales reaching 60,000 to 80,000 units [10]. Banking Sector - Chinese banking stocks saw slight declines, with Luzhou Bank, Chongqing Bank, and China Merchants Bank dropping by 3.49%, 2.91%, and 2.39%, respectively [11]. - Recent trends indicate that insurance funds have favored high-dividend stocks, particularly in the banking sector, but this trend may be slowing down as investment teams focus more on deep research and investment in technology innovation board companies [12]. Financial Institutions and Cryptocurrency - Huaxing Capital Holdings experienced a significant rise of nearly 38% before closing up 4.67% after announcing a $100 million investment in the Web 3.0 and cryptocurrency asset sector [14][15]. Regulatory Changes - The Hong Kong Securities and Futures Commission announced that new position limits for derivatives trading on major indices will take effect on July 2, 2025, increasing limits by 50% to 150% across various indices [16].