The Hang Seng Index opened 2% higher, science and technology stocks strengthened, and the Hang Seng Internet Technology Industry Index rose more than 3%. As of 10:00, Kuaishou Technology, XIAOMI Group,$NetEase, Inc-S (09999.HK) $It has soared by more than 5% one after another.$Tencent (00700.HK) $, Meituan and BABA rose nearly 3 per cent. Hang Seng Internet ETF rose 4% in early trading, with a turnover of nearly 1 billion yuan in half an hour, having applied for a net purchase for 14 consecutive days.
According to the latest research report of Everbright Securities, the current Internet antitrust supervision cycle has had a more far-reaching impact on the growth mode and mode of operation of the platform economy, and the fundamentals of Internet companies will face certain challenges in the future. however, the overall development prospect of the medium-and long-term industry is still promising. The relevant sectors have reached a time worthy of active layout, the short-term valuation is expected to be repaired first, and the long-term performance will return to the fundamentals of the industry.