Market Overview - On June 6, Hong Kong's three major indices experienced a decline, with the Hang Seng Index falling by 0.48% to 23,792.54 points, the Hang Seng Tech Index down by 0.63% to 5,286.52 points, and the Hang Seng China Enterprises Index also decreasing by 0.63% to 8,629.75 points [2][3] - The total market turnover for the day was HKD 235.62 billion, with net inflows from southbound funds amounting to HKD 6.766 billion [2] Pharmaceutical Sector - The pharmaceutical sector saw a significant rally, particularly with CSPC Pharmaceutical Group, which rose by 12.72% on the day, and has accumulated a total increase of 46.4% since May 2 [4][6] - CSPC Pharmaceutical Group announced that its adenosylcobalamin capsules (0.5mg) received drug registration approval from the regulatory authority, which is considered equivalent to passing the consistency evaluation for generic drug quality and efficacy [6] Digital Entertainment Sector - Kuaishou Technology's stock surged by 8.44%, closing at HKD 59.1 per share [6] - According to a report from JPMorgan, Kuaishou's integration of advertising and AI is expected to lead to a revaluation of its stock. The management anticipates that online advertising revenue could see double-digit year-on-year growth by Q2 2025 [8] - The AI capabilities are expected to enhance content recommendation and generation, significantly improving user engagement and retention, while also providing marketing materials and support for advertisers [8] Regulatory Developments - The Hong Kong Financial Secretary, Paul Chan, emphasized the ongoing efforts to promote the internationalization of the Renminbi, including enhancing offshore Renminbi liquidity and expanding the "southbound" trading channels [9] - The "Stablecoin Ordinance" is set to take effect on August 1, 2025, establishing a licensing regime for stablecoin activities in Hong Kong, aimed at promoting a sustainable ecosystem for stablecoins and digital assets [11]