Hang Seng Tech falls 1.5%, Bilibili drops nearly 4%, property stocks, automotive, and energy sectors weaken, XPENG-W plunges 6.6%

On Wednesday, July 26th, the Hong Kong stock market opened low and continued to decline. As of the time of writing, the Hang Seng Index fell by 0.83%, the Hang Seng Tech Index fell by 1.5%, and the State-owned Enterprises Index fell by 1.26%.

In terms of market performance, the entire automotive industry chain experienced a downturn, while sectors such as hydrogen energy, petrochemicals, and wind power performed poorly. Consumer sectors such as hotels, supermarkets, toys, and apparel declined, while tobacco, heavy machinery, gambling stocks, and gold stocks saw gains.

Most of the internet and technology stocks declined, with GDS-SW falling by over 5%, Bilibili (B 站) dropping nearly 4%, and JD.com, Alibaba, and Baidu all experiencing declines of around 2%. Tencent Holdings fell by 1.8%, Kuaishou by 1.5%, Xiaomi by 1.4%, and Meituan by 0.6%.

The automotive distribution and retail sectors led the market decline, with Xpeng Motors falling by 6.6%, ZHONGSHENG HLDG dropping by 4.7%, APOLLO Outdoors declining by 4.6%, Great Wall Motors falling by nearly 4%, and LEAPMOTOR dropping by nearly 3%.

Most energy stocks declined, with CHI PEOPLE HOLD falling by over 6%, China Petroleum & Chemical Corporation (Sinopec) and CHINA RES GAS dropping by nearly 4%, and China National Petroleum Corporation (CNPC) falling by over 1%.

Real estate and property management stocks declined together, with Country Garden Services falling by 5.7%, LONGFOR GROUP and GREENTOWN CHINA dropping by over 2%, and Country Garden declining by over 1%.

The heavy machinery sector continues to strengthen, with SANY INT'L rising over 7%, MORIMATSU INTL rising nearly 3%, and M&L HOLDINGS rising 2%.