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Hong Kong stock market closing | The Hang Seng Index fell 0.81% to close at 24,750 points, the technology index plummeted, while Yangtze Optical Fibre and Cable rose against the trend

Market Overview: Today, the three major indices of the Hong Kong stock market all fell sharply, with market sentiment clearly weakening. ▪ The Hang Seng Index closed at 24,750.79 points, with a daily decline of 0.81%; ▪ The Hang Seng Tech Index closed at 4,690.08 points, plummeting 1.84%; ▪ The National Enterprises Index closed at 8,399.12 points, down 0.65%. Currently, all three major indices are in a correction phase, failing to break through the peak reached on March 27, and showing clear short-term pressure. Sector Performance: ▪ The internet content and information sector collectively declined. Tencent Holdings fell 2.39%, closing at HKD 481.60, with a trading volume of HKD 1.367 billion. Kuaishou-W and Baidu Group-SW fell 2.30% and 2.58%, respectively. Affected by the adjustment of AI asset valuations, investor risk appetite has decreased, showing signs of capital outflow in the sector. ▪ The video game and multimedia sector continued to be weak. NetEase-S fell 0.40%, Kingsoft fell 3.79%, and Xindong Company fell 1.41%. Although NetEase was supported by buybacks and had active trading, major funds remained cautiously observant of performance pressures. ▪ The retail sector saw a slight decline. Pop Mart fell 0.60%, reporting HKD 148.70; Chow Tai Fook fell 0.18%, and China Duty Free fell 1.69%. Affected by the adjustment of gold prices and the release of annual reports, the consumer end is under overall pressure, with capital performance tending to be conservative. Macroeconomic Background: Since March, the Hong Kong stock market has focused on key macro indicators such as the annual import rate, reflecting the impact of import and export trade on the economy
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