Market Performance - The China Securities Hong Kong Stock Connect Internet Index decreased by 0.3%, the Hang Seng Technology Index fell by 0.7%, the Hang Seng Hong Kong Stock Connect New Economy Index dropped by 1.2%, the China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index declined by 1.3%, and the China Securities Hong Kong Stock Connect Consumer Theme Index fell by 1.9% [1] Fund Inflows - The E Fund Hang Seng Technology ETF (513010) saw a net inflow of 600 million yuan over the past three days [1] Earnings Expectations - According to CITIC Securities, while there has been a slight downward adjustment in recent earnings expectations for the Hang Seng Technology Index, this is mainly due to the impact of delivery subsidies on several internet platforms, which has already been fully priced in by the market. Other sub-sectors generally show an upward adjustment in earnings expectations, particularly in the new energy vehicles, semiconductors, and consumer electronics sectors [1] Future Outlook - Overall, the Hang Seng Technology Index is expected to present a "steady as the main focus, with upward elasticity" pattern in the mid-2025 interim report [1]

人民财讯7月31日电，香港恒生指数收跌1.6%，恒生科技指数跌0.69%。老铺黄金跌逾8%，泡泡玛特跌 逾4%，宁德时代跌近5%，中芯国际涨近2%。 ...

恒生指数收跌1.6%，恒生科技指数跌0.69%。快手涨超6%。 ...

Group 1 - The Hang Seng Index closed down by 1.60% [1] - The Hang Seng Tech Index decreased by 0.69% [1] - The Hong Kong Tech ETF (159751) fell by 0.45% [1] - The Hang Seng Hong Kong Stock Connect ETF (159318) dropped by 1.17% [1] - Lao Pu Gold experienced a decline of over 8% [1]

Group 1 - The Hang Seng Index closed down by 1.6% [1] - The Hang Seng Tech Index decreased by 0.69% [1] - Gold stocks and property stocks experienced significant declines, with Chow Tai Fook Gold falling over 8% [1] Group 2 - Country Garden and Vanke Enterprises both dropped more than 7% [1] - Longfor Group saw a decline of over 6% [1] - Shandong Gold fell nearly 4% [1]

Group 1 - The Hong Kong Hang Seng Index decreased by 1.07% as of the midday close [1] - The Hang Seng Tech Index increased by 0.34% [1] - Kingdee International saw a rise of over 11% [1] - Kuaishou experienced an increase of nearly 9% [1]

Group 1 - The Hang Seng Index closed down by 1.07% on July 31, while the Hang Seng Tech Index increased by 0.34% [1] - Kingdee International saw a significant rise of over 11%, while Kuaishou experienced an increase of nearly 9% [1]

中信证券研报称，恒生科技指数方面，近期盈利预期虽有小幅下调，但主要缘于外卖补贴扰动的几家互 联网平台，且相关利空已被市场充分定价；其余子行业盈利预期普遍呈上修态势，尤以新能源汽车、半 导体及消费电子最为突出。综合来看，恒科2025年中报有望呈现"稳健为主、向上有弹性"的格局。 恒生科技指数由港股上市公司中与科技主题高度相关的、市值最大的30只股票组成，覆盖小米、腾讯、 美团、阿里巴巴等科技大厂，指数当前滚动市盈率位于2020年发布以来22.6%分位处。投资者可借道恒 生科技ETF易方达（513010）等产品便捷布局港股科技资产。 恒生科技指数今日低开后探底回升，盘中实现翻红，恒生科技ETF易方达（513010）成交额超7亿元， 该产品近3日合计净流入达6亿元。 ...

Core Viewpoint - The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Technology Index dropping by 1% to 5434.67 points [1] Group 1 - The Hong Kong stock market experienced a downward trend on July 31 [1] - The Hang Seng Technology Index specifically fell by 1% [1] - The index closed at 5434.67 points [1]

Core Viewpoint - The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Tech Index dropping by 1% to 5434.67 points [1] Company and Industry Summary - The decline in the Hang Seng Tech Index indicates a negative sentiment in the technology sector within the Hong Kong market [1] - The overall performance of the Hong Kong stock market reflects broader market trends and investor confidence [1]