Market Overview - Hong Kong stocks faced downward pressure with all three major indices falling over 1%, closing with the Hang Seng Index down 1.12% at 23,710.69 points and a total trading volume of HKD 181.93 billion [1] - Huatai Securities noted that despite rising interest in Chinese assets and a favorable environment for Hong Kong stock expansion, the market's significant decline presents relatively controllable risks, emphasizing the importance of sector rotation [1] - Guotai Junan International suggested that high-quality dividend sectors remain a stabilizing force in investment portfolios in the short term, while technological innovation is seen as a new driving force for economic growth and stock market increases in the medium to long term [1] Blue Chip Performance - Li Auto (02015) led the blue-chip decline, falling 4.14% to HKD 104.1, with a trading volume of HKD 1.561 billion, impacting the Hang Seng Index by 9.84 points [2] - Meituan's CEO Wang Xing reduced his stake in Li Auto, selling 5.737 million shares for over HKD 600 million, decreasing his holding from 20.94% to 20.61% [2] - Other notable blue-chip movements included China Hongqiao (01378) rising 3.39% and contributing 2.44 points to the index, while Alibaba Health (00241) fell 3.18%, impacting the index by 1.53 points [2] Sector Performance - Large technology stocks generally declined, with Alibaba down 2.26% and Tencent down 1.07% [3] - The pharmaceutical sector saw gains, with notable increases in stocks like Ascentage Pharma-B (06855) up 12.04% and Kintor Pharmaceutical-B (02171) up 11.47% [5][6] - Oil and gas stocks surged due to rising oil prices driven by Middle Eastern tensions, with Jixing New Energy (03395) skyrocketing 343.18% [3][4] - Gold stocks also saw afternoon gains, with Tongguan Gold (00340) up 7.47% as geopolitical tensions continued to influence market sentiment [4] Real Estate Sector - The real estate sector continued to face pressure, with companies like R&F Properties (02777) down 4.17% and Xincheng Development (01030) down 5.83% [6][7] - National statistics indicated a 10.7% year-on-year decline in real estate development investment for the first five months of 2025, with new housing sales also down [7] - Guosen Securities highlighted the ongoing weakness in real estate fundamentals, suggesting that future policy measures could provide opportunities for speculation in real estate stocks [7] Notable Stock Movements - Beijing Construction (00925) surged 220% after announcing a privatization offer at a premium of 250% [8] - Lehua Entertainment (02306) rose 16.42% due to market recognition of its new product WAKUKU [9] - SF Express (09699) reached a new high, increasing 4.59% after revising its delivery service agreements to reflect higher demand [10] - Perfect Medical (01830) issued a profit warning, with expected earnings down 33.5% to 35.1% year-on-year due to weak consumer confidence [11]

作 者丨 郑青亭 编 辑丨 和佳 李益文 金珊 北京时间6月13日晚，美股三大指数集体低开，道指跌1.14%，纳指跌1.07%，标普500指数跌0.83%。截至22:45，跌幅继续扩大。 美国大型科技股多数下跌，苹果上涨0.21%，亚马逊、特斯拉、英伟达、谷歌均跌超1%，微软、脸书分别下跌0.26%，0.38%。油气股走高， 斯伦贝谢涨超1%，埃克森美孚涨超2%。 消息面上，据央视新闻报道，以色列空军1 3日当天已对伊朗境内的目标发动了5轮袭击。据悉，以方总计已发动数百次打击 行动。当天以色列在伊朗德黑兰发动的袭击已造成3 2 9人受伤，7 8人死亡。 "我们的金价归因模型显示，地缘政治风险指数是一个具有显著统计意义的驱动因素。在不考虑其他前提下，地缘政治风险在2024年令金价上 涨了8%，2025年前五个月，其贡献则为5.7%。"贾舒畅说道。 景顺亚太区全球市场策略师 赵耀庭向记者指出，历次地缘冲击让市场出现疲态，避险资产上涨存在但动能温和。如黄金仅小幅上涨约1%，显 示其"避险属性"仍有效但力度有限。同时，投资者短期可能趋向"降风险"；然而，美元在当前美国财政状况与贸易政策倾向下或不再铁定是最 强避险货币 ...