On July 4, 2025, Hong Kong stocks closed lower. The Hang Seng Index (HSI) fell 0.64%, the Hang Seng Tech Index (HSTECH) declined 0.33%.

In terms of sectors, the blockchain concept stocks saw notable gains, with GUOTAI JUNAN I surging 10.62% as it became the first Hong Kong-based Chinese brokerage to offer comprehensive virtual asset trading services. The gaming sector also performed well, with NIRAKU soaring 18.89%. On the other hand, the internet healthcare sector underperformed, with significant declines across the board.

For individual stocks, BABA-W fell 1.04% after announcing plans to issue HKD 12 billion zero-coupon convertible bonds to support its cloud infrastructure and international business development. POP MART rose 1.36% as its city park bookings surged sixfold in June, driven by the popularity of Labubu. J&T EXPRESS-W gained 5.49% following a positive outlook from CLSA, which reaffirmed its "Outperform" rating and highlighted strong growth in Southeast Asia. CHIFENG GOLD dropped 4.27% due to stronger-than-expected U.S. non-farm payroll data, which led to a stronger dollar and lower gold prices. BILIBILI-W rose 5.31% as the company prepared several new games, benefiting from the high sentiment in the gaming industry. SUNAC climbed 2.68% after announcing plans to issue 754 million new shares to repay RMB 5.6 billion in domestic bonds. NANSHAN AL INTL surged 16.26% on plans to invest RMB 1.868 billion in new projects in Indonesia. EVEREST MED rose 4.84% after BOCOM International raised its target price to HKD 72.50, citing strong sales potential.