According to the Smart Finance APP, network technology stocks opened lower in the morning and then continued to rise, driving the Hang Seng Tech Index up over 4% again. As of the time of publication, Meituan-W(03690) rose by 3.8%, to HK$212.8; Alibaba-W(09988) rose by 3.45%, to HK$113.8; Tencent(00700) rose by 2.53%, to HK$478; Baidu Group-SW(09888) rose by 1.01%, to HK$109.9.

On the news front, on Thursday, a new ETF named "China Dragon", tracking the performance of large Chinese companies, debuted on the US stock market. Its current component stocks include Tencent, Pinduoduo, Alibaba, Meituan, BYD Company Limited, Xiaomi, jd.com, Baidu, and Netease. Roundhill Investment Company stated that at the time of launch, these nine super large technology companies have shown competitive advantages in economies of scale, robust fundamentals, and significantly stronger growth compared to their peers. This ETF will be rebalanced quarterly.

Huaan Securities pointed out that the internet sector's performance in the second quarter continues to validate its operational resilience, benefiting from macroeconomic expectations recovery; stable policy expectations, continuous interconnection of networks, are expected to help internet companies fill gaps and further enhance operational efficiency; internet companies are increasing shareholder returns through buybacks and dividends; actively deploying in the generative AI field, fully leveraging technological advantages, are expected to benefit from the big model opportunity, opening a new product cycle.