港股三大指数午后持续走低，恒生科技指数一度大跌超3.1%，最终收跌2.72%并且录得5连跌行情，调 整较为明显，恒生指数、国企指数分别下跌1.36%及1.18%。 盘面上，作为市场风向标的大型科技股全线下跌，其中，阿里巴巴、京东跌近3%，百度跌2%，腾讯、 小米、美团跌1%；7月狭义乘用车零售或环比下滑逾11%，行业多方发声反对内卷式竞争，汽车股午后 跌幅加大，其中，理想汽车大跌近13%跌幅居前，比亚迪股份、小鹏汽车、吉利汽车明显走低；小摩指 H20解禁利好AI数据中心托管企业，但影响本地产业链市场情绪，半导体芯片股全天表现低迷，龙头中 芯国际跌近6%；连续上涨的生物医药股终见回调，云顶新耀、再鼎医药、歌礼制药等创新药股下跌； 特斯拉概念股、苹果概念股、军工股、濠赌股、航空股、中资券商股纷纷走低。 另一方面，地缘政治紧张国际油价反弹重回70美元一线，石油股逆势拉升，中国石油股份涨近4%，中 国石油化工涨近3%，机构看好婴幼儿奶粉板块需求改善，昨日高开低走的三胎概念股再起升势，H&H 国际控股大涨超11%领衔，煤炭股、电力股、钢铁股等"反内卷"相关板块相对活跃。(格隆汇) ...

港股收评：恒生指数涨0.62%！光伏、钢铁成亮点，军工、芯片股表现疲软 港股收评：恒生指数跌 0.56%！内房股、汽车股低迷，黄金股逆势爆发 港股收评：三大指数涨跌不一，恒生科技指数涨 0.56%，医药、军工、汽车大涨 港股收评：恒指再度失守24000，恒生科技指数跌0.33%，医药、芯片、 券商大涨居前 相关事件 隔夜美股三大指数收跌，中概指数下跌1.35%。港股三大指数低开延续昨日跌势，恒指跌0.74%，国指 跌0.98%，恒生科技指数跌1.83%。盘面上，大型科技股普遍走低，其中，阿里巴巴跌2.5%，京东、百 度跌超2%，美团跌超1%，腾讯、网易、小米均有跌幅；汽车股大幅下跌，其中，理想汽车跌9%，比亚 迪股份跌近5%，小鹏汽车、蔚来汽车、吉利汽车、零跑汽车皆走低；昨日午后拉升的半导体芯片股普 跌，上海复旦跌近3%，中芯国际跌1.3%；连续上涨的创新药概念股多数回调，联邦制药、三生制药跌 超2.5%。另一方面，影视娱乐股、锂电池股、直播概念股部分走强，与宇树科技达成全球战略合作， 开发社交机械人，巨星传奇大涨近15%。(格隆汇) ...

来源：上海证券报·中国证券网 上证报中国证券网讯 7月29日，半导体芯片股震荡走强，截至9时44分，东芯股份涨超15%，赛微电 子、复旦微电、新恒汇等涨超4%。 ...

Market Overview - The Hang Seng Index closed at 25,524.45, down by 0.15%, while the Hang Seng China Enterprises Index fell by 0.34% to 9,145.92. The Hang Seng Tech Index decreased by 0.35% to 5,644.38, with intraday declines reaching 1.2% for the first two indices and a significant drop of 2% for the tech index [1] - Despite the index adjustments, southbound capital saw a substantial net purchase of Hong Kong stocks exceeding 10 billion HKD [1] Stock Performance - Notable gainers in the biopharmaceutical sector included WuXi AppTec (up 11.25%), with other companies like CSPC Pharmaceutical and Green Leaf Pharmaceutical also showing strong performance, rising over 8% [3] - The top-performing stocks included WuXi Biologics-B (up 33.33%), Chuangsheng Group-B (up 17.06%), and Dongyao Pharmaceutical-B (up 15.06%) [2] Sector Trends - Large tech stocks showed a narrowing of losses in the afternoon, with Alibaba slightly turning positive, while Tencent, JD.com, Meituan, and Kuaishou experienced declines within 1%. Xiaomi fell by 2.6%, and Baidu dropped nearly 2% [3] - The "anti-involution" sectors, including steel and photovoltaic stocks, saw a rebound, while sectors like banking, catering, and robotics generally declined [3]

Core Viewpoint - The ChiNext Index rose over 1%, indicating a positive trend in the growth enterprise market, while the Shanghai Composite Index and Shenzhen Component Index showed slight declines [1] Group 1: Market Performance - The ChiNext Index experienced a significant increase of over 1% [1] - The Shanghai Composite Index fell by 0.04% and the Shenzhen Component Index decreased by 0.01% [1] - Nearly 1,400 stocks in the Shanghai, Shenzhen, and Beijing markets saw gains [1] Group 2: Sector Performance - Sectors such as pharmaceuticals, computing hardware, and semiconductor chips led the gains in the market [1]

Group 1 - Hedge funds sold technology stocks at the fastest pace in the past 12 months, coinciding with the S&P 500 index reaching a historical high [1] - The scale of the sell-off in technology stocks was the largest observed by Goldman Sachs since July 2024, primarily concentrated in North America and Europe [1] - Almost all types of technology stocks, including semiconductor companies, software firms, and IT service providers, were sold off [1] Group 2 - Consumer staples stocks became one of the most net bought sectors by hedge funds in the recent week, marking the fourth consecutive week of increased positions, primarily in long positions [1] - The S&P 500 index has risen approximately 28% since its low in 2025, driven by strong performance in technology stocks, while the Nasdaq Composite Index surged by 38% during the same period [1] Group 3 - As of last Friday, the forward P/E ratio of the S&P 500 index was 23.11, close to a five-month high, indicating elevated valuations compared to the historical average [2] - U.S. stock valuations are currently 30% higher than the average over the past decade, with long-term interest rates remaining high and volatile [2] - The future direction of the stock market may depend on a potential decline in long-term interest rates, which has not yet occurred [2]

Group 1 - Hedge funds sold technology stocks at the fastest pace in 12 months as the S&P 500 index reached a historical high [1] - The S&P 500 index has risen approximately 28% since its low in 2025, while the Nasdaq Composite index has increased by 38% during the same period [1] - The forward P/E ratio of the S&P 500 index reached 23.11, near a five-month high, indicating elevated valuations compared to the past decade [1] Group 2 - The consumer staples sector saw the highest net buying volume among U.S. stocks last week, with hedge funds increasing their positions for four consecutive weeks [2] - The stocks being purchased primarily belong to companies in food and beverage, as well as personal care products, indicating a shift towards more stable investments [2]

Market Overview - The Hong Kong stock market experienced a slight decline in the afternoon, with the Hang Seng Tech Index falling by 0.05%, ending a five-day winning streak, while the Hang Seng Index and the China Enterprises Index rose by 0.51% and 0.18%, respectively, both recording five consecutive increases [1][2]. Sector Performance - Large technology stocks mostly turned down in the afternoon, with Baidu and NetEase dropping over 3%, Kuaishou down over 2%, while Tencent, Meituan, and Xiaomi saw slight increases [4][5]. - The financial sector showed strength, with major Chinese brokerage and insurance stocks actively rising, including China Galaxy, CITIC Securities, and China Life, which all had significant gains [6][8]. - The paper industry is experiencing a price adjustment wave, with Nine Dragons Paper leading the rise, increasing over 9% [6][15]. - Semiconductor stocks remained active, with TSMC raising its annual growth forecast to 30%, leading to increased activity in the semiconductor sector, including notable gains for Huahong Semiconductor and SMIC [6][10]. Notable Stock Movements - Nine Dragons Paper surged by 9.27%, followed by Chenming Paper and Lee & Man Paper, which rose by 8.45% and 5.17%, respectively, due to price hikes announced for corrugated paper and recycled cardboard [6][15]. - In the biopharmaceutical sector, stocks like Kangfang Biotech and WuXi AppTec saw increases of over 7% and 6%, respectively, driven by positive market sentiment [10][19]. - Apple-related stocks collectively rose, with notable increases for companies like Cowell and BYD Electronic, which gained over 5% and 4%, respectively [11][12]. - Solar energy stocks also performed well, with New Special Energy rising over 9% and Xinyi Solar increasing by nearly 8% [13][14]. Investment Insights - The market outlook suggests a generally upward trend for Hong Kong stocks, with a focus on structural opportunities. Analysts recommend attention to sectors benefiting from favorable policies, such as stablecoin concepts, innovative pharmaceuticals, and AI industry chains [21].

国证港股通人工智能指数从港股通范围内选取50家业务涉及算力和网络设备、数据和算法服务、场景应 用等人工智能相关领域的上市公司作为指数样本公司，反映港股通人工智能主题上市公司证券的运行特 征。截至6月底，样本公司总市值9.9万亿港元，可投资规模充足，主要分布在数据和算法服务 （49%）、场景应用（47%）、算力和网络设备（4%）等细分领域，汇聚腾讯控股、阿里巴巴-W、小 米集团-W、美团-W和中芯国际等龙头企业。 近年来，指数化投资正逐渐成为市场投资者配置港股优质资产的主流选择。在此背景下，深证信息充分 响应市场投资需求，持续完善港股指数体系建设，推动跨境投资标的扩面提质。截至目前，旗下港股指 数覆盖宽基、主题、策略等主要类型，其中国证港股通科技指数、国证港股通创新药指数跟踪产品规模 分别达到约270亿元和200亿元，较年初增长约2.5倍和18倍，在市场同类指数中处于领先地位。 （文章来源：证券时报网） 7月24日，深交所全资子公司深圳证券信息有限公司（以下简称"深证信息"）发布公告称，将于7月30日 正式发布国证港股半导体芯片指数（简称"港股芯片"，代码980105）、国证港股通资源指数（简称"港 股通资源" ...

Group 1 - The market is currently in a bullish atmosphere, with the Shanghai Composite Index continuously reaching new highs for the year, supported by a favorable market environment for upward movement [1] - Recent market hotspots have shifted from high-dividend sectors like insurance and banking to semiconductor chips, driven by positive sentiment from the Chain Expo in Beijing, and now to the hydropower sector, which has stimulated the cyclical infrastructure sector [1] - Technical patterns indicate a steady upward trend, with K-line formations showing oscillation upwards and trading volume increasing moderately, with financing balances surpassing 1.9 trillion yuan, reflecting a strong bullish phase [1] Group 2 - There was a slight pullback in the market on Wednesday afternoon, with the Shanghai Composite Index slightly rising while the Shenzhen Component Index fell, indicating that short-term speculative stocks have surged too quickly [1] - Some leading construction engineering stocks experienced a decline, suggesting a return to rationality in the market, which may lead to a period of consolidation [1] - The outlook for the market remains strong, with expectations of short-term fluctuations and continued consolidation, while monitoring intraday hotspots and changes in trading volume for potential further upward movement [1]