Economic Information Daily reports on the 16th: Alibaba (09988) is up 2.9%, trading at HK$109.50, with approximately 4.72 million shares traded, involving a turnover of HK$516 million.

Recently, CoreWeave (US.CRWV) was reported to have seen a sharp rise in bond yields, sparking concerns over increased difficulty for AI-related stocks to issue bonds. Overnight, CoreWeave continued to suffer declines in both stock and bond prices, with its share price falling nearly 10% at one point. However, during the trading session, NVIDIA CEO Huang Renxun voiced strong support for CoreWeave, expressing continued optimism and emphasizing that NVIDIA currently does not need to backstop CoreWeave's financial situation. Huang's remarks immediately restored market confidence, leading CoreWeave's stock to rebound and close up nearly 6%.

Overnight, U.S. tech stocks showed mixed performance, but after Huang Renxun affirmed the sound financial condition of AI financing companies, Hong Kong-listed tech stocks gained momentum, with the entire tech sector rebounding collectively. Tencent (00700) rose 2.5% to HK$428.20; Kuaishou (01024) climbed 5.4% to HK$30.12; Baidu (09888) gained 2.9% to HK$80.65; NetEase (09999) advanced 1.7% to HK$199.50; Bilibili (09626) surged 4.4% to HK$115.60; JD.com (09618) increased 2.2% to HK$107.20; Meituan (03690) rose 1.3% to HK$76.45.

Currently, the Hang Seng Index stands at 24,359, up 296 points or 1.2%, with main board turnover exceeding HK$12.8 billion. The Hang Seng China Enterprises Index is at 8,195, up 92 points or 1.1%. The Hang Seng Tech Index is at 4,144, up 83 points or 2.1%.
 (hc)