Hong Kong stocks fluctuated throughout the day, with the Hang Seng Index closing at 26,847 points, up 12 points. The total market turnover was HKD 285.4 billion.
Market concerns over technology stocks have not been alleviated, leading to a collective sell-off in the sector. NetEase (9999) closed down 7.9% at HKD 182.9; Trip.com Group (9961) fell 5.8% to HKD 456.6; Baidu Group (9888) dropped 4.5% to HKD 135; Tencent (700) declined 4% to HKD 558, marking a new low in nearly six months and being the largest decliner among the four blue-chip stocks.
In contrast, Wharf Real Estate Investment Company (1997) rose 7.3% to HKD 29.26, making it the best-performing blue-chip stock.
Solar stocks surged, with Xinyi Glass (868) rising 5.9% to close at HKD 10.81; GCL-Poly Energy (451) up 3% at HKD 1.37; and Xinyi Solar (968) increasing 2.6% to HKD 3.55. Junda Holdings (2865) once soared 15.1% but closed down 1.5% at HKD 45.02.
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The Hang Seng Index opened 37 points lower this morning, and although it briefly rose 65 points to a high of 26,899 points, it quickly turned downward, at one point dropping 241 points to 26,724 points. By noon, it was at 26,724 points, down 110 points or 0.41%, with a turnover of HKD 151.4 billion; the Tech Index was at 5,347 points, down 120 points or 2.2%.
Among blue-chip stocks, &#34;ATMX&#34; was the culprit of the decline, with Tencent (700) down 3.4% at midday, Xiaomi (1810) down 2.6%, Alibaba (9988) down 0.9%, and Meituan (3690) down 2.2%. Together, these four stocks dragged the Hang Seng Index down by over 130 points. In terms of stock price fluctuations, Trip.com (9961) fell more than 6%, making it the worst-performing blue-chip stock at midday.
On the news front, there have been rumors recently that Tencent's Yuanbao red envelope link contains a virus, and using the Yuanbao app would automatically enable AI features. Tencent clarified yesterday (the 3rd) that such situations do not exist; WeChat also announced this morning (the 4th) that it would take action against the non-compliant links of Yuanbao, restricting direct access within WeChat, with the relevant measures taking effect immediately. Yuanbao stated through its official Weibo that it is urgently optimizing and adjusting its sharing mechanism and will launch it as soon as possible to ensure users can experience grabbing red envelopes.
Related article: Tencent falls over 3% without stopping, WeChat &#34;bans&#34; Yuanbao red envelopes, officials say urgent rectification.
On the other hand, according to a report from the domestic media column &#34;Nengjianpai,&#34; it was cited that Elon Musk's team recently made secret visits to several photovoltaic companies in China to investigate projects involving equipment, silicon wafers, and battery components, focusing on photovoltaic companies with heterojunction and perovskite technologies. At the same time, some photovoltaic companies confirmed that they had been in contact with Musk's team, but the details of the investigation need to be kept confidential.
This news stimulated photovoltaic-related stocks to rise against the market trend, with Junda Holdings (2865) rising over 8%; Xinyi Glass (868) up over 6%; GCL-Poly Energy (451) up 3%; and Xinyi Solar (968) also rising over 2%.
Related article: SpaceX ignites a wave of investment in commercial space, reviewing six major Hong Kong and U.S. concept stocks, one of which has risen 112% this year.
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With Google launching Genie 3, which can instantly generate game scenes, and Anthropic introducing a tool for corporate legal teams, concerns about the disruptive impact of AI have arisen, leading to a sell-off in several software stocks in the U.S. market
The three major U.S. stock indices all fell, with the Dow Jones closing down 166 points or 0.34%, at 49,240 points; the S&amp;P 500 down 58 points or 0.84%, at 6,917 points; and the Nasdaq down 336 points or 1.43%, at 23,255 points.
In Hong Kong stocks, the Hang Seng Index opened down 37 points this morning, at 26,797 points. Tech stocks generally declined, with Alibaba (9988) down 1%; Tencent (700) down 1.5%; Meituan (3690) down 1.8%; JD.com (9618) up 0.2%; while Baidu (9888) and Xiaomi (1810) fell 1% and 0.2%, respectively.
<h2>Gold Price Rises Above $5,000</h2>
Gold prices have rebounded, rising above the $5,000 mark. Chifeng Jilong Gold Mining (6693) opened up 3.9%; Shandong Gold (1787) up 3.5%; Lingbao Gold (3330) up 3.4%; Zijin Mining (2899) up 2%; its subsidiary Zijin Gold International (2259) up 2.9%; and China Silver (815) up 2.9%.
<h2>Guoen Technology's Public Offering Oversubscribed by 2,250 Times</h2>
New stock Guoen Technology (2768) officially listed today, with its public offering portion oversubscribed by about 2,250 times, and a 2% chance of winning a lot. The stock opened at 45 HKD, up 25%.
Regarding the northbound capital flow, there was a net purchase of Hong Kong stocks amounting to 952 million HKD yesterday, with Tencent (700), Southbound Hang Seng Tech (3033), and China Mobile (941) receiving net purchases of 1.955 billion HKD, 669 million HKD, and 408 million HKD, respectively; while the Tracker Fund of Hong Kong (2800), SMIC (981), and Alibaba (9988) faced net sales of 3.763 billion HKD, 1.577 billion HKD, and 1.198 billion HKD, respectively

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The Hong Kong stock market fluctuated throughout the day, with the Hang Seng Index closing at 26,847 points, up 12 points, and a turnover of HKD 285.4 billion. Concerns over technology stocks remain, with NetEase down 7.9%, Trip.com down 5.8%, Baidu down 4.5%, and Tencent down 4%. Wharf Real Estate rose 7.3%, and Xinyi Glass increased by 6%. The Hang Seng Index opened 37 points lower and fell as much as 241 points, while the Tech Index dropped 2.2%. Tencent clarified that the red envelope link is virus-free, and WeChat has restricted non-compliant links

- The Hong Kong stock market closed with the Hang Seng Index at 26,847 points, up 12 points, amid ongoing concerns over technology stocks, which saw declines in major companies like Tencent and Alibaba.  
- While the photovoltaic sector experienced gains with notable rises from companies like Xinyi Glass, the market overall faced pressure, dropping as much as 241 points during the day.  
- The trading volume reached 285.4 billion Hong Kong dollars, indicating active market participation despite the downturn in tech stocks.

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The Hang Seng Index rose 12 points, Tencent fell 4%, it is reported that Musk secretly visited photovoltaic companies, Xinyi Glass rose 6% | Hong Kong stock market closing