Market Overview - The Hang Seng Index opened lower and experienced a decline of 0.05%, closing at 23,332.72 points after initially dropping nearly 300 points before finding support above 23,000 [1] - The Hang Seng Tech Index fell by 0.50%, closing at 5,255.06 points [1] - The total market turnover reached HKD 1,847.04 million, down from HKD 1,907.22 million in the previous trading session [1] Sector Performance - The pharmaceutical sector led the market, with notable gains [1] - Semiconductor and consumer stocks also performed well against the market trend [1] - Conversely, Apple concept stocks and technology internet stocks saw significant declines [1] Individual Stock Movements - Semiconductor Manufacturing International Corporation (00981.HK) rose by 1.80% [1] - Four Seasons Medicine (00460.HK) surged by 16.42% [1] - Pop Mart International (09992.HK) increased by 5.77%, reaching a new historical high [1] - Alibaba Group (09988.HK) fell by 3.40% [1] - China Literature (00772.HK) dropped by 7.58% [1]

Group 1 - The capital market experienced a broad rally driven by significant progress in US-China tariff negotiations, with the Hang Seng Technology Index rising over 5% [1] - The joint statement from the negotiations indicated that both parties would reduce tariffs by more than 100%, exceeding market expectations [1] - The A-share market is anticipated to perform well on May 13, following the positive developments in the negotiations [1] Group 2 - On April 7, the market faced a significant downturn, with the Shanghai Composite Index dropping 7.34% due to reciprocal tariff impacts, while major indices fell over 6% [2] - With tariffs returning to baseline levels, market risk appetite is expected to increase significantly, favoring growth sectors such as TMT and high-end manufacturing [3][4] - The technology sector, particularly those with strong Q1 earnings growth, is likely to benefit from sustained market momentum [4] Group 3 - On May 12, the A-share market saw all major indices rise, with the Shanghai Composite Index up 0.82% and the ChiNext Index gaining 2.63%, indicating strong market performance [4] - The defense and military industry continued to show strength, with several stocks hitting the daily limit up, leading market sentiment [4] - The Hong Kong market also rebounded strongly, with the Hang Seng Index rising 2.98% and the Hang Seng Technology Index soaring 5.16%, driven by positive trade environment expectations [5] Group 4 - The non-essential consumer sector led the gains in the Hong Kong market with a 4.77% increase, while the industrial and information technology sectors also performed well [5] - The consumer electronics supply chain experienced a significant surge, with the Apple concept index rising 13.4% and the Huawei concept index increasing by 10.22% [5] - Conversely, the gold and pharmaceutical sectors faced downward pressure, with the gold jewelry index dropping 6.36% and the healthcare sector declining by 2.36% [5]

Group 1 - The Hong Kong stocks related to Apple saw significant gains, with companies like Highway Electronics rising nearly 18%, BYD Electronics up 15%, Sunny Optical Technology increasing by 15%, and AAC Technologies gaining 14% [2] - The FTSE China A50 Index futures experienced a sharp rise, with an increase of over 1.5% as of 15:30 [2] Group 2 - Spot gold prices saw a decline, with intraday losses expanding to 3%, and the latest drop recorded at 2.89%, priced at $3,230.48 per ounce [4] Group 3 - The offshore RMB against the US dollar rose sharply by over 100 basis points, briefly surpassing the 7.2 mark [6] - A joint statement from the US-China economic talks indicated that both parties committed to specific actions by May 14, 2025, including modifications to tariffs on goods from China and the US [6][7] - The US will suspend the 24% tariff on Chinese goods for the initial 90 days while retaining a 10% tariff, and will also cancel additional tariffs imposed under previous executive orders [6][7] - China will similarly modify its tariffs on US goods, suspending the 24% tariff for 90 days and maintaining a 10% tariff, while also taking necessary measures to suspend or cancel non-tariff countermeasures against the US [7]