Stock Market Midday Review: Hang Seng Index Down 1.07%, Tech Index Up 0.34%! Gold Stocks Fall, AI Concept Stocks Rise 9%!

July 31 message, the Hong Kong stock market's three major indices rose and fell differently. As of midday, the Hang Seng Index was down 1.07%, closing at 24,906.39 points, while the Hang Seng Tech Index rose 0.34% and the state-owned enterprise index fell 1.03%. On the trading floor, internet stocks rose and fell differently, with fast hands rising nearly 9%, Bilibili rising over 2%, Meituan falling by more than 3%, Xiaomi and JD.com falling by more than 2%; AI concept stocks were strong, with Meitu's stock rising by more than 15%.

AI concept stocks were strong, with Meitu's stock rising by more than 15%. East Securities (600958) pointed out that it is optimistic about the growth of vertical AI products and the closure of commercial loops in the second half. Considering the current overseas AI payment habits and willingness are better, they believe that domestic companies with overseas AI applications should be given priority for commercialization.

Biomedical B-class stocks were active, with Lepu Biopharma rising by more than 4%. According to the National Health Commission's message, on July 28, Vice Minister Li Tao met with GIC officials in Beijing and had a deep exchange of views on supporting innovative drug development.

Gold stocks continued to fall, with Fangfang Gold plummeting by more than 8%. Yesterday night, spot gold prices fell continuously, once falling below $3270 per ounce, and the intraday decline was nearly 2%.

Real estate stocks fell the most, with Bi'an Garden falling by more than 6%. On July 30, the Central Political Bureau convened a meeting. Nation Securities pointed out that this round of work in the real estate sector only emphasized the need to "fully implement the spirit of the central city conference" and "high-quality urban renewal".

Source: Sina News