Hong Kong Stock Market Mid-Review: Hang Seng Index closed down 0.55%, Biopharmaceutical stocks significantly corrected

On February 24th, Jin10 Data reported that the three major U.S. stock indices significantly declined last Friday, while the China Golden Dragon Index fluctuated upwards. The Hong Kong stock market surged by 900 points last Friday, reaching a three-year high, and after a six-week rally of 4,413 points, it opened lower this morning but rose again, showing a volatile trend. The Hang Seng Index opened down 5 points at 23,472 points, with the decline expanding to a low of 23221 points, down 256 points at one point. It then reversed and rose, reaching a high of 23,688 points, up 210 points at most, again setting a three-year high. Afterward, it fluctuated downwards again. By the close, the Hang Seng Index was down 0.55% in the morning session, the Tech Index was down 1.44%, and the total market turnover of the Hang Seng Index was HKD 231.15 billion. On the market, the film and entertainment, agricultural products, rare earth concepts, and heavy machinery stocks performed strongly, while domestic property stocks fluctuated upwards, and insurance stocks showed bright performance; diversified retailers, internet healthcare, and online education stocks declined, with biopharmaceuticals and SaaS concept stocks experiencing significant pullbacks. In terms of individual stocks, Tencent Music (01698.HK) rose over 11%, China Resources Mixc Lifestyle (01209.HK) rose over 6.5%, Longfor Group (00960.HK) rose over 5%, China Life (02628.HK) and Haier Smart Home (06690.HK) both rose over 4%, while ZhongAn Online (06060.HK) fell over 13%, WuXi AppTec (02359.HK) fell over 9%, WuXi Biologics (02269.HK) fell over 8%, and Kingdee International (00268.HK) fell over 7%