Since mid-May, the Hang Seng Index has been fluctuating downward for six consecutive weeks, recently even experiencing four consecutive days of decline, with the index continuously hitting new lows for the current adjustment phase. The Hang Seng Index is currently oscillating around the 23,300-point range, while the Hang Seng Tech Index has also been in a sustained correction, falling from above 5,100 points to around the 4,550-point level. The overall market has entered an adjustment cycle of profit-taking.$Hang Seng Index(00HSI.HK)$Hang Seng China Enterprises Index(HSCEI.HK)

The market shows a typical structural divergence where indices are weak but leading sectors are strong: heavyweight stocks in the broader market, as well as the consumer, automotive, and dividend sectors, continue to face pressure. However, tech sub-sectors such as AI computing power, semiconductors, optical modules, and domestic large language models are bucking the trend and showing independent strength, with individual stock opportunities concentrated in high-growth sectors. Broad-based rallies have essentially disappeared.