Core Points - The Chuanghua Trading Service Hong Kong Stock Connect Selected 100 Index (CES100) experienced a decline of 0.22%, closing at 5235.57 points with a trading volume of 80.919 billion [1] - Over the past month, the CES100 index has increased by 5.80%, while it has decreased by 0.66% over the last three months, and has risen by 23.65% year-to-date [1] Index Composition - The top ten holdings of the CES100 index include Alibaba-W (11.44%), HSBC Holdings (10.55%), Tencent Holdings (10.26%), Xiaomi Group-W (7.25%), Meituan-W (6.81%), AIA Group (5.86%), Hong Kong Exchanges and Clearing (4.08%), Standard Chartered Group (2.34%), Prudential (1.93%), and Pop Mart (1.62%) [2] - The index is fully composed of stocks listed on the Hong Kong Stock Exchange, with a sector breakdown showing Consumer Discretionary at 29.47%, Financials at 28.41%, Communication Services at 13.88%, Information Technology at 9.15%, Real Estate at 4.62%, Healthcare at 4.04%, Utilities at 4.01%, Consumer Staples at 3.12%, Industrials at 2.82%, and Materials at 0.48% [2] Fund Tracking - Public funds tracking the CES100 index include Huaan CES Hong Kong Stock Connect Selected 100 ETF Link A, Huaan CES Hong Kong Stock Connect Selected 100 ETF Link C, and Huaan CES Hong Kong Stock Connect Selected 100 ETF [2]

Market Overview - The Hong Kong stock market opened lower and experienced a decline, with the Hang Seng Index dropping over 2% at one point before narrowing its losses, ultimately closing down 0.05% at 23,332.72 points. The total trading volume for the day was 184.7 billion HKD [1] - The Hang Seng China Enterprises Index fell 0.09% to 8,460.55 points, while the Hang Seng Tech Index decreased by 0.5% to 5,255.06 points [1] Blue-Chip Stocks Performance - Xiaomi Group-W (01810) reversed its decline, closing up 2.65% at 52.35 HKD, contributing 39.24 points to the Hang Seng Index. The company announced a strategic product launch event on May 22, featuring new SUV models and flagship smartphones [2] - China Unicom (00762) rose 4.16% to 9.26 HKD, contributing 3.79 points to the index, while China Hongqiao (01378) increased by 3.25% to 15.24 HKD, adding 2.28 points [2] - Alibaba-W (09988) fell 3.4% to 119.2 HKD, negatively impacting the index by 60.14 points, and Sunny Optical Technology (02382) dropped 3.27% to 63.65 HKD, contributing a loss of 2.52 points [2] Sector Performance - Large tech stocks showed mixed results, with Xiaomi and Meituan rising over 2%, while Alibaba continued to decline over 3%. Apple-related stocks fell due to expectations that WWDC would not focus on Siri upgrades [3] - Macau's average daily gaming revenue significantly dropped post-May Day holiday, leading to declines in gaming stocks [4] - Pharmaceutical stocks surged, with Four Seasons Pharmaceutical rising over 16% and 3SBio increasing over 13% [3] Gold Stocks - Gold stocks experienced a broad increase, with Lingbao Gold (03330) up 3.84% to 8.93 HKD and China Gold International (02099) rising 1.41% to 54 HKD. This was attributed to a rebound in international gold prices [5] Semiconductor Stocks - Some semiconductor stocks rose, with Hua Hong Semiconductor (01347) increasing by 3.51% to 30.95 HKD. Concerns over U.S. export restrictions on Nvidia's chips to China may benefit domestic AI chip manufacturers [6] Notable Stock Movements - Four Seasons Pharmaceutical (00460) surged 16.42% to 0.78 HKD after receiving drug registration approval for a new cancer treatment [8] - Innovative Intelligence (02121) rose 4.15% to 4.77 HKD as it announced a share buyback plan [9] - Pop Mart (09992) reached a new high, closing up 5.77% at 207 HKD, with Morgan Stanley raising its sales and profit forecasts for the company [10] - Alibaba-W (09988) continued to face pressure, closing down 3.4% amid scrutiny over its collaboration with Apple on AI development for iPhones [11]