The Economic Information Daily reported on the 6th: Global investor interest in AI has rebounded. Morgan Stanley published a research report overnight, expressing optimism about SpaceX, citing the growth potential of future AI, space, and cloud products, and stating that SpaceX's current stock price remains cheap. This drove SpaceX to surge nearly 8% overnight. The news reignited market expectations for the future development of AI, benefiting Hong Kong stocks as well. This morning, AI-related tech and internet stocks collectively rose, improving overall market sentiment, with financial stocks and biotech stocks also following suit. The Hang Seng Index briefly reached 24,354 in early trading before its gains slightly narrowed, but it remained generally above 24,200 throughout the day. It closed at 24,280, up 240 points or 1%. Total turnover on the main board was nearly HK$98.3 billion. The Hang Seng China Enterprises Index closed at 8,128, up 77 points or 1%. The Hang Seng Tech Index closed at 4,223, up 39 points or 0.9%.
Supported by external markets, the Hang Seng Index stabilized above 24,000 and rebounded. However, as northbound funds have not yet resumed, today's market turnover remained below the HK$100 billion level. Therefore, even though indices rose today, the technical indicators are not highly reliable. It should also be noted that although northbound-favored stocks such as biotech and tech stocks performed well today, if these sectors continue to rally tomorrow, a profit-taking surge may occur when northbound funds resume trading on Thursday. Individual heavily traded stocks that have seen significant premiums compared to pre-northbound-holiday levels need to be watched carefully for profit-taking risks.
*Tech and biotech stocks rise ahead of market recovery*
Tech stocks rebounded, with the software sector seeing a net inflow of nearly HK$723 million for the day. Alibaba (09988) rose 2.7% to HK$108.20; Tencent (00700) rose 1.2% to HK$428.20; Xiaomi (01810) rose 1.6% to HK$24.26; Baidu (09888) rose 3.3% to HK$86.15; Kuaishou (01024) rose 2.3% to HK$30.18; NetEase (09999) was unchanged at HK$185.60; JD.com (09618) rose 1.2% to HK$103.60.
The entire biotech sector performed positively, with the healthcare sector seeing a net inflow of nearly HK$820 million, the largest net inflow sector for the day. GenScript (01548) rose 7.7% to HK$49.14; WuXi AppTec (02359) rose 2.9% to HK$218.60; WuXi Biologics (02269) rose 4.5% to HK$57.90; Innovent Biologics (01801) rose 2.1% to HK$99.35; BeiGene (06160) rose 0.9% to HK$220.60; Insilico Medicine (03696) rose 4% to HK$59.30; XtalPi (02228) rose 5.9% to HK$8.305.
Domestic media reported that Amazon's Amazon Bedrock has officially integrated Zhipu's GLM-5.3, meaning Zhipu (02513) will be able to increase revenue through revenue sharing on overseas cloud platforms. Zhipu rose 7.6% today to HK$715.50; peer MiniMax (00100) rose 2% to HK$249.20.
*J&T Express spends cumulative HK$500 million on buybacks, supporting price and MACD turns bullish*
J&T Express (01519) announced yesterday that it spent another HK$39.65 million to repurchase 4.64 million shares. Since September, the company has conducted buybacks for 24 consecutive trading days, repurchasing a total of 56.44 million shares, amounting to a cumulative expenditure of HK$510 million. The company's share price has been declining since August, falling 11% in September alone and over 14% from August to September. Hence, the full-month buyback effort is understandable and demonstrates the company's sincerity, driving its share price to surge 5% today, making it the best-performing blue-chip stock of the day.
CITIC Securities earlier published a research report on the domestic express delivery industry, highlighting J&T Express's orderly sales growth in Southeast Asia and Latin America, along with the potential strengthening of its domestic business, making it the top pick in the sector. Technically, the stock price today broke above the 10-day moving average (around HK$8.3717) and challenged the 20-day moving average (around HK$8.992), with the MACD turning from bearish to bullish, indicating a short-term favorable technical outlook. The recent drop to the previous support level of HK$8.40 appears to have absorbed selling pressure, fueling today's rebound. The stock offers short-term value, but to avoid a surprise when northbound funds resume, investors could consider entering around the 10-day moving average level of approximately HK$8.60 to HK$8.70 after Thursday, with an initial short-term target of HK$9.85. (hc)
Supported by external markets, the Hang Seng Index stabilized above 24,000 and rebounded. However, as northbound funds have not yet resumed, today's market turnover remained below the HK$100 billion level. Therefore, even though indices rose today, the technical indicators are not highly reliable. It should also be noted that although northbound-favored stocks such as biotech and tech stocks performed well today, if these sectors continue to rally tomorrow, a profit-taking surge may occur when northbound funds resume trading on Thursday. Individual heavily traded stocks that have seen significant premiums compared to pre-northbound-holiday levels need to be watched carefully for profit-taking risks.
*Tech and biotech stocks rise ahead of market recovery*
Tech stocks rebounded, with the software sector seeing a net inflow of nearly HK$723 million for the day. Alibaba (09988) rose 2.7% to HK$108.20; Tencent (00700) rose 1.2% to HK$428.20; Xiaomi (01810) rose 1.6% to HK$24.26; Baidu (09888) rose 3.3% to HK$86.15; Kuaishou (01024) rose 2.3% to HK$30.18; NetEase (09999) was unchanged at HK$185.60; JD.com (09618) rose 1.2% to HK$103.60.
The entire biotech sector performed positively, with the healthcare sector seeing a net inflow of nearly HK$820 million, the largest net inflow sector for the day. GenScript (01548) rose 7.7% to HK$49.14; WuXi AppTec (02359) rose 2.9% to HK$218.60; WuXi Biologics (02269) rose 4.5% to HK$57.90; Innovent Biologics (01801) rose 2.1% to HK$99.35; BeiGene (06160) rose 0.9% to HK$220.60; Insilico Medicine (03696) rose 4% to HK$59.30; XtalPi (02228) rose 5.9% to HK$8.305.
Domestic media reported that Amazon's Amazon Bedrock has officially integrated Zhipu's GLM-5.3, meaning Zhipu (02513) will be able to increase revenue through revenue sharing on overseas cloud platforms. Zhipu rose 7.6% today to HK$715.50; peer MiniMax (00100) rose 2% to HK$249.20.
*J&T Express spends cumulative HK$500 million on buybacks, supporting price and MACD turns bullish*
J&T Express (01519) announced yesterday that it spent another HK$39.65 million to repurchase 4.64 million shares. Since September, the company has conducted buybacks for 24 consecutive trading days, repurchasing a total of 56.44 million shares, amounting to a cumulative expenditure of HK$510 million. The company's share price has been declining since August, falling 11% in September alone and over 14% from August to September. Hence, the full-month buyback effort is understandable and demonstrates the company's sincerity, driving its share price to surge 5% today, making it the best-performing blue-chip stock of the day.
CITIC Securities earlier published a research report on the domestic express delivery industry, highlighting J&T Express's orderly sales growth in Southeast Asia and Latin America, along with the potential strengthening of its domestic business, making it the top pick in the sector. Technically, the stock price today broke above the 10-day moving average (around HK$8.3717) and challenged the 20-day moving average (around HK$8.992), with the MACD turning from bearish to bullish, indicating a short-term favorable technical outlook. The recent drop to the previous support level of HK$8.40 appears to have absorbed selling pressure, fueling today's rebound. The stock offers short-term value, but to avoid a surprise when northbound funds resume, investors could consider entering around the 10-day moving average level of approximately HK$8.60 to HK$8.70 after Thursday, with an initial short-term target of HK$9.85. (hc)
