Hang Seng Index fell for the fifth consecutive day, AI and semiconductor weakened, while electric power led the gains with strong performance. Goldwind Technology rose more than 10%.
On the market, pharmaceuticals, electricity, and automobile stocks are strong, while AI and gambling stocks are among the biggest decliners. Semiconductor stocks are generally falling, and most of the sci-tech internet stocks are also down. MEITU fell more than 15%.
On June 26th, the Hong Kong stock market opened low and rose high. The Heng Seng Technology Index rose more than 1% at one point, but then rebounded weakly, and the three major indexes fell and fluctuated. In the afternoon, the Heng Seng Index and the Hang Seng China Enterprises Index once narrowed their declines, and the Heng Seng Technology Index turned up. However, the decline expanded again in the final trading session. The Heng Seng Index closed down 0.51%, marking the fifth consecutive day of decline, while the Hang Seng China Enterprises Index fell 0.35% and the Heng Seng Technology Index fell 0.17%.
On the market, pharmaceuticals, electricity, and automobile stocks were strong, while technology and internet stocks were weak. AI and gambling stocks fell the most, and semiconductor stocks generally fell.
In terms of news, the renminbi exchange rate continued to weaken, with both offshore and onshore renminbi against the US dollar falling below 7.23. The development of the El Niño phenomenon has strengthened, and many places in the northern hemisphere have experienced extreme high temperatures. The power sector rose strongly throughout the day, driving up power equipment stocks, and wind power stocks, which fell sharply last Friday due to the influence of overseas leaders, rebounded today.
Most technology and internet stocks fell, with MEITU falling more than 15%, JD.com and Ctrip falling more than 2%, and Bilibili, Weibo, and Tencent falling more than 1%. Alibaba fell by about 1%, while Xiaomi Group led the gains, rising by 4.3%.
The power sector led the gains, with Goldwind Technology surging more than 10%, and CHINA RES POWER, HUADIAN POWER, and Huaneng Power all rising more than 5%.
In terms of news, the wind power sector of the Hong Kong stock market fell sharply last Friday due to the withdrawal of the 2023 fiscal year performance guidance by overseas Siemens Energy.
Biopharmaceuticals lead the gains
Kangxinuo Biotechnology rose more than 11%, JOINN rose about 9%, and Pharmaron and Kanhua Biochemical rose more than 3%.
Automobiles are strong
DONGFENG GROUP rose more than 7%, GAC Group rose more than 3%, LEAPMOTOR, Xiaopeng Motors, and Wuling Motors rose more than 1%.
Semiconductors are weak
