After a slight dip, the three major Hong Kong stock indices quickly surged, with the Hang Seng TECH Index peaking at 1.5%, closing up 1.2%. The Hang Seng Index and the National Index rose by 0.12% and 0.17%, respectively.
On the market, large tech stocks showed mixed results; reports indicate they are developing AI large models, with Xiaomi rising 5.5%, Meituan in the green, JD.com dropping nearly 4%, and Baidu falling over 1%. Chip semiconductors surged significantly, with Goldman Sachs optimistic about the company's revenue outlook, leading Semiconductor Manufacturing International Corporation to rise over 7%. Software stocks and Consumer Electronics stocks performed strongly, especially Kingsoft Cloud, which soared over 44%, hitting a historical high of 6.7 HKD. China-Affiliated Brokerage stocks experienced a midday surge, with Guolian rising by about 11%. Defense stocks, Apple Supplier stocks, Rare Earth Metals stocks, Lithium Battery stocks, and Autos also rose together.
On the other hand, Car Dealers/auto Retailers stocks declined, with Film and Television Entertainment, Dining, and Home Appliances stocks generally falling. Major stock HAIDILAO dropped nearly 4%, while HAIER SMARTHOME decreased by 2.5%.