Market Overview - The Hang Seng Index fell by 0.43%, down 109 points, while the Hang Seng Tech Index decreased by 1.57%. The early trading volume in Hong Kong stocks was HKD 148.2 billion [1]. Biotechnology Sector - The Hang Seng Biotechnology Index rose by 1.77%. Notable gainers included MicroPort Medical (00853) up 9.7%, MicroPort NeuroTech (02172) up over 8%, and Innovent Biologics (01801) up 4.85% [1]. - WuXi AppTec (02359) increased by 2.24%, WuXi Biologics (02126) rose by 6.5%, and WuXi Biologics (02269) saw an increase of over 3% following the announcement of the construction of a modular biologics manufacturing facility in Singapore [1]. - Fosun Pharma (02196) gained over 5% after acquiring exclusive rights for the innovative Alzheimer's drug AR1001 [1]. - HeartCare Medical-B (02160) surged by 8.8% as the company is expected to acquire and restructure MicroPort's cardiac management business, enhancing its product pipeline [1]. Insurance Sector - Insurance stocks continued their upward trend, with New China Life Insurance (01336) rising by 4.47% to reach a new high, and China Life Insurance (02628) increasing by 1.5% [2]. Consumer Sector - 361 Degrees (01361) rose by 6.5%, with institutions expecting strong revenue growth for the full year [3]. - Dreamland (01119) increased by 3.5% after signing a capitalization agreement with Playrix, bringing in a strategic shareholder from the upstream development sector [4]. Semiconductor Sector - Gako Technology-B (01167) surged over 20% as a concerted action party increased its stake by over 60,000 shares, raising its total holding to 25.36% [5]. - Semiconductor stocks collectively declined, with Huahong Semiconductor (01347) down 5.3%, SMIC (00981) down 3.9%, and ASMPT (00522) down 2.74%. Nvidia's order for 300,000 H20 chips and Morgan Stanley's comments on the potential impact of the 520 unlock on local industry sentiment contributed to this decline [5].

Group 1 - The Hang Seng Index rose by 1.13%, gaining 262 points to close at 23,420 points, while the Hang Seng Tech Index increased by 0.59%. The morning trading volume in Hong Kong reached HKD 115.6 billion [1] - Chinese banking stocks showed strong performance, with significant purchases from institutional investors. Notable gains included China CITIC Bank up 4.73%, Minsheng Bank up 4%, Industrial and Commercial Bank of China up 3.2%, and Agricultural Bank of China up 2.8% [1] - Gold stocks performed well due to rising international gold prices, which returned to USD 3,400. China Gold International rose by 2.62%, Zhaojin Mining by 2.72%, Zijin Mining by 3.15%, and Chifeng Jilong Gold Mining by 1% [1] - China Everbright Holdings surged over 24% following its investment in stablecoin giant Circle, which is expected to go public this month [1] - Li Auto-W saw an increase of over 6% as its May delivery volume turned positive month-on-month, with monthly deliveries expected to reach 2,500-3,000 units [1] - Goldwind Technology rose nearly 10% due to sustained high demand in offshore wind bidding, with potential catalysts expected to materialize [1] - Jinko Magnetics increased by over 5%, with manageable impacts from rare earth export controls, and institutions noted a significant discount of H shares compared to A shares [1] Group 2 - Lianyi Rong Technology-W rose over 9% following the implementation of stablecoin legislation in Hong Kong, highlighting the company's strong positioning in the digital currency sector [2] - Kangfang Biotech increased by over 4% after its partner Summit announced positive results from the global Phase III study of Ivosidenib [2] Group 3 - Lujing Technology experienced a decline of over 20% after announcing a rights issue at a discount of approximately 32%, aiming to raise around HKD 143 million [3]