According to Futu News on September 30, the Hang Seng Index narrowed its gains in the afternoon, narrowing its intraday gains to 0.4%, while at one point it rose more than 2% in the morning. As of press time, the Hang Seng Index rose 0.79% to 23459.

BABA rose 3.32%, and his market capitalization was once again approaching HK $6 trillion. Fu Rui gives BABA US stocks a target price of US $314, while Hong Kong stocks have a target price of HK $307, both with a "buy" rating. Fu Ruifa reported that BABA will have a synergy with the group in digital media and entertainment (DME) to accelerate user growth; Hema Xiansheng will innovate the development of new retail business through the rapid growth of same-store sales and increase customer consumption; and BABA's local service digitization will have a synergy with Ant Group.

Tencent rose 1.29%. According to media reports, Tencent Cloud has disclosed that the application scale of Tencent's first self-developed Xinghai server on the cloud has increased by more than 30 times, and the number of customers has increased by more than 50 times.

Meituan rose nearly 3 per cent. XIAOMI rose 2.49%. NetEase, Inc fell more than 4%, a two-month low.

For other new economy stocks, Alibaba Health Information Technology is up nearly 4%, Semiconductor Manufacturing International Corporation is up nearly 2%, and Ping An Healthcare And Technology is down more than 7%.