Market Overview - Despite a weak market last week, the Hang Seng Index rose by 701 points or 2.9% in July [1] - The current US-China tariff war has not seen any breakthrough developments, leading to a shift from optimism to a wait-and-see approach [1] - The lack of new policies regarding the economy and the property sector has put pressure on the market [1] Short-term Market Outlook - The market is expected to find support at 24,000 points in the short term [1] - The upcoming earnings season is anticipated to dominate the Hong Kong stock market's performance in August [1] - Large technology stocks are expected to report strong first-half earnings, while bank stocks showed mixed results last week [1] Sector Performance - Technology stocks, particularly those related to internet and cloud services, are expected to outperform [1] - The market is projected to face resistance at 25,700 points [1] Biotechnology Sector - The biotechnology sector is viewed positively, with several companies reporting earnings surprises [1] - The progress of innovative drugs entering international markets is promising, indicating potential revenue growth [1] - Recent market adjustments are seen as profit-taking rather than the end of an upward trend [1]