On June 27th, Geelong Hui reported that the three major Hong Kong stock indexes opened and traded low today. The Hang Seng Index fell by 2.06%, the National Index fell by 2.37%, and the Hang Seng Tech Index fell by 2.73%. In terms of market performance, Xiaomi fell more than 7%, leading the decline of network technology stocks. Recently, high-level executives have been reducing their holdings and cashing out stocks for about HKD 179 million, causing controversy. Meituan fell 2.8%, Kuaishou fell 2.3%, and JD.com fell 2.2%. Leading home appliance stocks fell sharply, with Hisense Ha falling more than 10%. Analysis suggests this might be due to profit-taking and capital repositioning. Coal stocks fluctuated and fell, with China Shenhua Energy falling more than 5.5%. The expectation of high coal prices in the shoulder season has been affected by ongoing precipitation. Contract research organizations trended weaker, with Pharmaron falling more than 4.7%, and Wuxi Bio falling more than 4%. Digital health, semiconductor, real estate, and building materials sectors were among the worst-performing sectors. On the other hand, the three major telecoms supported the market in an opposing trend, with China Telecom rising nearly 3%, reaching a new stage high. Institutions point out that they are collectively deploying low-altitude new economic formats.