The Hang Seng Index opened high today, rising 89 points to 18,520 points, hitting a two-week high. It then continued to fluctuate downward; near noon, the Hang Seng Index's decline expanded, and the Hang Seng TECH Index fell nearly 1.5%. By the end of the trading day, the Hang Seng Index fell 0.52%. In terms of sector performance, sectors like oil, coal, environmental protection, and building energy conservation led the gains, while sectors like automobiles, big data, holiday concepts, sporting goods, and AIGC suffered losses.

Chip stocks continued their recent gains. As of press time, SMIC (00981.HK) rose 1.48%, Shanghai Fudan (01385.HK) rose 0.91%, and Hua Hong Semiconductor (01347.HK) rose 0.41%. In terms of news, according to media reports, in the context of tight supply and demand, TSMC will implement price increases for its 3nm and 5nm advanced processes and advanced packaging. Among them, TSMC's 3nm foundry pricing increase may be over 5%, and the annual pricing increase for advanced packaging next year is expected to be between 10% and 20%.

It is reported that the utilization rate of major wafer fabs has significantly improved, and many manufacturers have reached full capacity or even exceeded 100% utilization. The industry believes that the continuous improvement in the utilization rate of wafer foundry and the full capacity of some foundries will bring about price elasticity in the future. Morgan Stanley recently stated that Hua Hong Semiconductor's wafer fabs are currently operating at over 100% capacity and are expected to increase wafer prices by 10% in the second half of this year.

Xiaomi Group (01810.HK) closed up 0.22%. Xiaomi's official Weibo post stated that during the 618 period, Xiaomi's cumulative payment amount across all channels exceeded 26.3 billion yuan, setting a new record for promotional sales in previous years; the payment amount in Xiaomi's official flagship store's live broadcast room exceeded 1 billion yuan, creating a new record for Taobao live store broadcasts; cumulative sales of online and offline instant retail businesses reached 650 million yuan, with mobile phone sales increasing by 56% year-on-year; Xiaomi Home's sales increased by 17% year-on-year, and mobile phone sales increased by 21% year-on-year.

TCL Electronics (01070.HK) rose more than 4.64%. News-wise, the 2024 European Championships kicked off in Germany recently, and TCL had previously announced that it has become the official partner of the German, Spanish, Italian, Polish, and Slovakian national teams. Additionally, TCL has also announced its partnership with the 2024 Copa América. This is TCL's third collaboration with the Copa América after 2019 and 2021. China Merchants Securities pointed out that 2024 is a year of major sporting events, with the European Championships and Copa América taking place in June, followed by the Paris Olympics in July. This year's sporting events are expected to significantly drive global TV demand.

In the first quarter of this year, the company's global TV shipments increased 5.3% year-on-year to 5.84 million units, and shipments of products with 65 inches and above increased 23.1% year-on-year, maintaining a strong performance in shipments and mid-to-high-end categories. First Shanghai believes that the company's global TV business layout and focus on mid-to-high-end categories are expected to bring continuous improvements in market share and profitability. The company is expected to maintain growth in overseas and domestic shipments this year, as well as positive contributions to gross profit from higher average prices.

Haidilao (06862.HK) saw significant selling pressure today (20th), closing down 5.88%. Goldman Sachs issued a report noting that due to the high profit margin base and fewer non-operating gains in the first half of last