On July 24th, Futu News reported that the decline of the three major stock indexes in Hong Kong has narrowed. As of press time, the Hang Seng Index fell by 0.2%, Hang Seng Tech Index fell by 0.67%, and Hang Seng China Enterprises Index fell by 0.15%.

In terms of sectors, network technology stocks rose and fell, with Meituan falling nearly 3%, JD.com falling nearly 1%, Alibaba rising nearly 1%, and Netease rising nearly 4%.

The three major oil companies rose, with CNOOC rising nearly 2%, Sinopec rising more than 1%, and PetroChina following the trend.

Electric vehicle stocks fell, with Great Wall Motor falling nearly 6%, Leapmotor and NIO falling more than 4%, and Li Auto falling nearly 3%.

Beverage stocks weakened, with Nongfu Spring falling more than 5%, U-Presid China falling nearly 2%, and Tingyi following the trend.

In terms of individual stocks,$NTES-S (09999.HK)$NetEase rose nearly 4%, the company will release multiple new games in July, and institutions believe that concerns about monetizing old games have eased.

$SAMSONITE (01910.HK)$NIO Inc. rose nearly 6%, and the company received an increase of 7.08 million H-share shares from E Fund, worth about HK $1.48 billion.

$ASMPT (00522.HK)$JD.com fell more than 15%. The company announced its interim results, and shareholders' share of profit was HK $314 million, a year-on-year decrease of 49.6%.

$CHINA RES BEER (00291.HK)$China Mengniu Dairy fell more than 4%, previously falling more than 6%. Institutions believe that its first-half performance was flat, and have lowered their earnings forecasts and target prices.

$XPENG-W (09868.HK)$NIO Inc. fell more than 5%. Tesla released its Q2 financial report overnight, and its profits did not meet expectations, which has affected the confidence of electric vehicle stocks.

$CHOW TAI FOOK (01929.HK)$Consumer stocks fell more than 6%, compounded by high gold prices, with first-quarter retail sales down 20% year-on-year.

Edited by Jeffrey