Title: Hong Kong Stocks Retreat as Hang Seng Index and Technology Stocks Plummet
On Friday, July 7, Hong Kong stocks faced a rapid weakening at the start of the session. The Hang Seng Index witnessed a downfall of over 1%, while the Hang Seng Technology Index plummeted by 2%. Meanwhile, the State Enterprise Index also experienced a significant decline of 1.35%.
In terms of market performance, the pork and agricultural sectors showed strength, while sectors such as education, short videos, and unmanned driving experienced a weakening trend. Notably, internet medical care and sporting goods led the overall decline.
The technology sector significantly suffered, with various technology stocks witnessing a dip. Moreover, new energy vehicles also experienced a downfall. The Hang Seng Technology Index, in particular, fell by more than 2%, impacting heavyweights like Ctrip, JD.com, NetEase, Baidu, and Meituan, all of which fell by over 2%.
Furthermore, companies in the new energy vehicle sector faced a setback. Xiaopeng Motors witnessed a decline of more than 5%, while Weilai fell by over 4%.
Internet healthcare stocks also faced a general decline. JD Health, Ali Health, and Ping An Good Doctor all witnessed a dip in their share prices, with Ping An Good Doctor experiencing a decline of 2.5%.
Adding to the negative sentiment, sporting goods stocks also faced a downturn. Li Ning saw a nearly 4% decrease, while Anta and Xtep witnessed a decline of nearly 2%.
Investors are advised to keep a close eye on developments as the situation continues to evolve. For further updates, visit Sohu, a trusted information release platform.
Editor:
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