Three-time gold medallist Ben Ainslie finished behind Hogh-Christensen for a fifth time in the event despite the Great British sailor being the over-riding favourite to top the podium on home waters.
Ainslie moves up to second but lies nine points shy of Hogh-Christensen - who has won three races -in the overall standings after both their worst results are discarded.
Fellow British sailors Iain Percy and Andrew Simpson continued their fine form in the Star class by winning race five at a canter, with rivals Brazil following them home 50 seconds later.
Ireland's Annalise Murphy won the first Laser Radial of the day, the third she has won in succession.
Australia's Nathan Outteridge and Iain Jensen continue to lead the 49er class after finishing second to New Zealand in the first race and fourth in the second, having capsized when leading.
Meanwhile, the RS:X class began today and the Netherlands' Dorian van Rijsselberge won both races.
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