In the U.S., the DJIA closed down 0.3% overnight (25th). In Hong Kong, the HKD hit the weak-side convertibility undertaking, prompting the HKMA to buy the HKD amounting to HKD9.42 billion in the market for the first time since 2023. Hong Kong bourse softened amid share placings by multiple listed companies. The HSI opened 129 points lower, and narrowed losses to 63 points in the morning, but fell as much as 239 points to an intraday low of 24,235, closing down 149 points or 0.6% at 24,325. The HSCEI dropped 55 points or 0.6% to 8,803, and the HSTECH sagged 13 points or 0.3% to 5,345. Total market turnover reached HKD261.729 billion.Stablecoin-concept speculation drove gains, with CHINA EB LTD (00165.HK) -0.250 (-3.472%) Short selling $22.39M; Ratio 2.189% once rallying 46% intraday before closing up 6.2%. Local brokers saw immense volatility: VICTORY SEC (08540.HK) -0.920 (-17.069%) soared 1.6 times once intraday, closing up nearly 45%. EMPEROR CAPITAL (00717.HK) -0.001 (-0.901%) and BRIGHT SMART (01428.HK) -0.170 (-1.860%) Short selling $22.26M; Ratio 4.537% shot up 11% and 9.9%, respectively, while SOUTH CHINA FIN (00619.HK) +0.007 (+3.349%) mounted 6.1%. GUOTAI JUNAN I (01788.HK) -0.520 (-14.689%) Short selling $38.63M; Ratio 0.589% and WELL LINK SEC (08350.HK) -0.003 (-2.113%) fell off 4.3% to 11.3%, with Guotai Junan International, recently approved by the SFC for virtual asset trading services, recording HKD26.77 billion in turnover.A weaker USD uplifted resource stocks, with CMOC (03993.HK) +0.470 (+6.258%) Short selling $154.19M; Ratio 19.400% and MMG (01208.HK) +0.160 (+4.372%) Short selling $68.20M; Ratio 14.942% up 5.8% and 8%, CHINAHONGQIAO (01378.HK) +0.020 (+0.112%) Short selling $150.70M; Ratio 16.842% and CHALCO (02600.HK) +0.030 (+0.550%) Short selling $12.59M; Ratio 3.430% up 4.2% and 3.4%, and gold miners LINGBAO GOLD (03330.HK) -0.530 (-5.106%) Short selling $10.78M; Ratio 10.506% , SD GOLD (01787.HK) -0.750 (-2.618%) Short selling $93.36M; Ratio 18.272% , and CHINAGOLDINTL (02099.HK) +0.350 (+0.483%) Short selling $9.65M; Ratio 8.316% up 5.1-6.7%. With the HKD hitting the weak-side peg, property developers CK ASSET (01113.HK) +0.150 (+0.431%) Short selling $20.28M; Ratio 16.835% , SHK PPT (00016.HK) -0.400 (-0.440%) Short selling $51.65M; Ratio 13.606% , HENDERSON LAND (00012.HK) -0.550 (-1.954%) Short selling $70.81M; Ratio 33.945% , and LINK REIT (00823.HK) -0.050 (-0.118%) Short selling $35.97M; Ratio 11.397% dived over 2%.Pharmaceuticals broadly retreated. REMEGEN (09995.HK) -3.650 (-6.166%) Short selling $98.12M; Ratio 8.795% , after securing a USD125 million upfront payment in a licensing deal with Vor Bio, plunged 11.7%. HENGRUI PHARMA (01276.HK) -0.250 (-0.450%) slumped 5%, while CANSINOBIO (06185.HK) -0.050 (-0.145%) Short selling $712.97K; Ratio 1.954% , PHARMARON (03759.HK) +0.360 (+2.311%) Short selling $4.63M; Ratio 4.204% , and AKESO (09926.HK) -2.350 (-2.478%) Short selling $42.79M; Ratio 4.928% subsided over 3%.For techs, TENCENT (00700.HK) 0.000 (0.000%) Short selling $734.66M; Ratio 9.458% edged up 0.1% after its gaming cloud launched a comprehensive mini-game solution. BABA-W (09988.HK) -0.100 (-0.089%) Short selling $1.14B; Ratio 13.406% and NEW ORIENTAL-S (09901.HK) -0.900 (-2.100%) Short selling $20.10M; Ratio 10.157% tumbled 2.9% and 3.3%, respectively, while MEITUAN-W (03690.HK) -0.600 (-0.462%) Short selling $901.66M; Ratio 15.526% and NTES-S (09999.HK) -2.400 (-1.142%) Short selling $245.88M; Ratio 22.118% sank 1.4% and 0.2%.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-27 16:25.)