Today, the three major Hong Kong stock indexes opened high and fell all day, presenting a unilateral decline. The Hang Seng Tech Index fell sharply by 2% in the afternoon and finally closed down 1.68%, while the Hang Seng Index and the National Index fell 0.52% and 0.48% respectively.

On the market, technology stocks, which rose sharply yesterday, fell collectively. Kuaishou fell more than 5%, Bilibili fell 4.5%, and JD.com, Alibaba, Baidu, and Meituan all fell. Dining stocks were among the biggest losers, with Haidilao continuing to fall nearly 6%, down nearly 20% in the past month. AI software stocks also fell, with companies like Sensetime and Kingsoft following suit. Real estate sales and investment in May continued to be weak, and mainland real estate and property management stocks were weak all day long.

On the other hand, short-term dry bulk shipping prices fluctuated strongly, and port and transportation stocks were strong all day. The national team increased its positions in Hong Kong stock dividend ETFs, and stocks with high dividend rates rose sharply, with CNOOC hitting a new high. Additionally, Harbour transportation stocks performed well, with Pacific Basin rising over 7%, Cosco Ship Energy rising over 5%, China COSCO Shipping rising over 3%, and OOIL rising over 2%.

Specifically:

Harbour transportation stocks were among the biggest gainers, with Pacific Basin rising more than 7%, Cosco Ship Energy rising more than 5%, China COSCO Shipping rising more than 3%, and OOIL rising more than 2%.

In terms of news, the shipment index (Europe Line) main contract rose 3.61% to 5166.6 points, hitting a new high.

High-yield stocks rose significantly, with CNOOC rising more than 3% and hitting a new high, while China Petroleum and Chemical Corporation (Sinopec), PetroChina, and China Power rose more than 2%. China Telecom rose more than 2%, China Unicom rose more than 1%, and China Mobile rose 0.75%. Additionally, China Shenhua Energy rose as much as 1.88% and its stock price hit a historical high, while China Coal Energy rose more than 4%.

Chip stocks rose significantly, with HG Semiconductor rising more than 9%, Solomon Systech rising more than 4%, AV Concept Holdings rising more than 2%, and Semiconductor Manufacturing International Corporation (SMIC) and Shanghai Fudan Microelectronics following suit.

Shenwan Hongyuan Securities believes that in the short term, the technology growth trend catalyzed by the "Kotegu" will perform well, and some basic improvements that have been overlooked recently will take advantage of the trend.

Electric power stocks were strong, with CGN Power rising more than 3%, Huadian International Power rising more than 2%, and China Resources Power and Datang International Power Generation following suit.

Mainland banking stocks continued to rise, with Jiutai Rural Commercial Bank rising more than 6%, Jinshang Bank and Zhongyuan Bank rising more than 4%, and Agricultural Bank of China, Postal Savings Bank of China, and China CITIC Bank rising more than 1%.

Short video media stocks fell sharply, with Bilibili falling more than 5% and Kuaishou and Weimob Inc. falling more than 4%.

Dining stocks fell, with Haidilao falling more than 6%, Xiabuxiabu falling more than 5%, Jiumaojiu, Naixue's Tea, Cafe de Coral Holdings falling more than 3%, and Yum China falling more than 2%.

Beer stocks were weak, with China Resources Beer and Budweiser APAC falling more than 3% and Tsingtao Brewery falling more than 1%.

Traditional Chinese medicine (TCM) stocks were weak, with Tong Ren Tang Technology falling more than 3%, Tong Ren Tang Chinese Medicine, Baiyunshan Pharmaceutical, and Shineway Pharmaceutical all falling more than 2%, and Jianbai Group Biotech falling more than 1%.

Today, the net inflow of southbound capital was 7.53 billion Hong Kong dollars, with a net inflow of 9.475 billion Hong Kong dollars. Among them, the net inflow of the Hong Kong stock regime (Shanghai) was 3.843 billion Hong Kong dollars, and the net inflow of the Hong Kong stock regime (Shenzhen) was 3.688 billion Hong Kong dollars.

Looking ahead,Alex Yao, Co-Head of Morgan Stanley Asia TMT Research, said that considering the improvement of the cost structure and the weakening of competition in China's technology stocks, it is expected that technology stocks still have about 20% to 25% upward space.

He believes that if the macro economy recovers, e-commerce companies will benefit from the recovery of consumption cycles. He believes that the stabilization of China's macro economy is the investment theme of this investment. Recent macroeconomic indicators have shown early signs of stabilization, which is the main driving force behind the increase in China's technology stocks this year, and will be a key factor to dominate future stock price trends.