Technology Network stocks strengthened again in early trading, and the Hang Seng Technology Index rose more than 4% and successfully reached the 4,000 mark. As of press release, JD Group-SW (09618) rose 6.48% to HK$128.2.
The Zhitong Finance App learned that TechNet stocks strengthened again in early trading, and the Hang Seng Technology Index rose more than 4% and successfully reached the 4,000 mark. As of press release, JD Group-SW (09618) rose 6.48% to HK$128.2; Baidu Group-SW (09888) rose 5.5% to HK$111.3; Alibaba-SW (09988) rose 5.39% to HK$80.2; and Kuaishou-W (01024) rose 4.64% to HK$61.95.
According to the news, popular Chinese securities surged across the board overnight. The Nasdaq China Golden Dragon Index rose more than 6%, hitting a new closing high since the end of November last year. Among them, Bilibili rose more than 15%, Shell rose more than 12%, Jinshanyun and Jingdong rose more than 11%, and Alibaba rose more than 6%, reaching a market capitalization of 200 billion US dollars. Earlier, Federal Reserve Chairman Powell pointed out that the Fed's next move is “unlikely” to raise interest rates. The statement suggests that the probability of cutting interest rates still exists. Furthermore, the Federal Reserve meeting announced that the target range of the federal funds rate will remain unchanged at 5.25-5.5%, which is in line with market expectations.
Guoyuan International Research Report points out that in the current state of policy stability, the digital economy will accelerate development in the future, and the integration of digital reality will accelerate the recovery of digital demand in the physical industry, while AI application scenarios will continue to expand. Therefore, the new productivity represented by the AI big model will also stimulate Chinese technology manufacturers to invest in technological innovation and industrial upgrading. Overall, overseas markets continue to fluctuate, so global assets are in demand for rebalancing. High-quality and undervalued Hong Kong stocks have become the main inflow source of foreign capital. Furthermore, as south-bound capital continues to net flow into the Hong Kong stock market, the cost performance ratio of undervalued high-quality assets on the Internet is prominent.