<p>The stock markets in Japan, South Korea, and other regions performed well. Additionally, the Chinese AI startup DeepSeek is expected to launch its next-generation flagship model V4 in mid-February, reigniting the hype around AI concepts. Driven by the strong performance of AI concept technology stocks and the Shanghai and Shenzhen stock markets, Hong Kong stocks fluctuated upward throughout the day, gaining momentum in the afternoon. The Hang Seng Index ultimately closed at its highest point of the day, finishing at 26,608 points, up 377 points, marking a new closing high in nearly two months. The total market turnover surged to HKD 306.2 billion, returning to the HKD 300 billion level, the highest since October 30 of last year. Furthermore, northbound capital saw a net inflow of HKD 7.3 billion, marking two consecutive days of net inflows.</p>
<p>After opening 145 points higher, the Hang Seng Index briefly fell by 44 points. However, as AI concept stocks gained traction, the index quickly regained its upward momentum and continued to seek higher levels, ultimately closing at 26,608 points, up 377 points or 1.4%. The Hang Seng China Enterprises Index closed at 9,220 points, up 171 points or 1.9%. The Tech Index outperformed the market, closing at 5,863 points, up 176 points or 3.1%.</p>
<p>The Shanghai and Shenzhen stock markets continued to rise, with the Shanghai Composite Index closing at 4,165 points, up 44 points or 1.1%, reaching a new high in over 10 years; the Shenzhen Component Index closed at 14,366 points, up 246 points or 1.8%; the ChiNext Index closed at 3,388 points, up 60 points or 1.8%, both indices reaching new highs in over 4 years.</p>
<h2>Newly listed stock KNOWLEDGE ATLAS surged 31%, MINIMAX rose 15%</h2>
<p>Hong Kong's AI concept stocks showed strong gains, with the newly listed stock KNOWLEDGE ATLAS (2513) surging 31.4%, closing at HKD 208.4; MINIMAX (100) skyrocketed 15.4%, closing at HKD 398. Meanwhile, KUAISHOU (1024) received positive ratings from major firms like Goldman Sachs and JP Morgan for its AI business, with its stock price rising 7.4%, closing at HKD 80.25; SENSETIME (020) jumped 6.9%, closing at HKD 2.64;</p>
<h2>Chip stocks saw speculation, Wall Street soared by 20%</h2>
<p>Chip stocks mostly rose, with the newly listed stock Wall Street Technology (6082) increasing by 19.7%, closing at HKD 40.78; TianShu Smart Chip (9903) rose 7.8%, closing at HKD 187.5; Shanghai Fudan (1385) increased by 3.7%, closing at HKD 52.9; Semiconductor Manufacturing International Corporation (981) rose 1.2%, closing at HKD 75.3.</p>
<h2>Antitrust benefits for food delivery platforms, Alibaba rose 5%</h2>
<p>As for food delivery platform stocks, in addition to benefiting from the AI hype, the market interpreted the State Council's antitrust investigation into food delivery platforms as potentially bringing new opportunities to the industry, leading to a surge in the three major food delivery platform stocks. MEITUAN (3690) returned to the red, closing at HKD 105, up 6.6%; Alibaba (9988) rose 5.3%, closing at HKD 154.3; JD.com (9618) also increased by 2%, closing at HKD 116.9.</p>
<p>Reports suggest that the U.S. may consider military action against Iran, raising geopolitical tensions. International gold prices once surpassed the USD 4,600 mark, reaching a historic high. Benefiting from the new high in gold prices, various gold stocks were favored. ZIJIN (2899) rose 2.7%, closing at HKD 39.28;
Shandong Gold (1787) rose 3.6%, closing at HKD 41.34; Zijin Mining International (2259) increased by 1.5%, closing at HKD 153. Additionally, spot silver also rose over 4% to break records, with China Silver (815) up 7.1%, closing at HKD 0.75.</p>
<p>In terms of individual stocks, the newly listed company Howie Group (501) closed at HKD 121.8, up 16.2% from the offering price of HKD 104.8, yielding a paper profit of HKD 1,700 per lot before fees. It is reported that XPeng (9868) has hired an investment bank to prepare for the IPO of its flying car business, XPeng Huitian in Hong Kong, with XPeng rising 2.3%, closing at HKD 80.35.</p>
<h2>Liang Jiewen: AI speculation remains hot, difficult to break 27,000 for now</h2>
<p>Liang Jiewen, investment manager at Hong Kong High Securities, stated that the performance and trading volume of A-shares in mainland China are good, providing support for Hong Kong stocks. Under the AI hype, many semi-new stocks and tech stocks are performing strongly, thus boosting the Hong Kong market. He pointed out that since last year, the AI speculation driven by Deepseek has been maintained, and the application scenarios for AI are becoming increasingly broad. However, some individual AI concept stocks have recently accumulated certain gains, and with the market observing developments in the U.S., Venezuela, and the Middle East, it is expected that the Hang Seng Index still needs new catalysts to break through the 27,000 mark in the short term.</p>
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<p>Hong Kong stocks performed well today, with the Hang Seng Index opening 145 points higher in the early session, climbing steadily, and closing near its high for the half-day at 26,456 points, up 224 points or 0.86%, with a half-day turnover of HKD 168.3 billion. The Tech Index rose 118 points or 2.08% to close at 5,805 points.</p>
<h2>&#34;ATM&#34; three stocks lead the market</h2>
<p>Among blue-chip stocks, tech stocks led the market, with Alibaba (9988) rising 5.3% in the half-day, Meituan (3690) up 7.3%, and Tencent (700) increasing by 2.29%, together contributing 214 points to the Hang Seng Index.</p>
<h2>Kuaishou's Keling AI goes viral overseas</h2>
<p>In terms of stock gains, besides Meituan, Kuaishou (1024) rose 5.62% to HKD 78.9, mainly benefiting from its Keling AI recently going viral overseas, spreading from South Korea to the world, becoming a hit for domestic AI going abroad, making it one of the best-performing blue chips for the half-day. Additionally, Alibaba Health (241) rose 5.55%; Baidu (9888) increased by 4.08%.</p>
<p>At the same time, the State Council's Anti-Monopoly and Unfair Competition Commission announced last Friday (9th) that it would investigate the competitive situation in the food delivery platform service industry. However, the news is favorable for three major food delivery companies, with Meituan and Alibaba, as well as JD.com (9618) rising 2.09%.</p>
<p>Benefiting from the AI boom and the introduction of domestic &#34;AI + manufacturing&#34; special policies, AI application stocks collectively rose. The two recently listed large model companies, KNOWLEDGE ATLAS (2513) and MINIMAX-WP (100), surged 31.9% and 30.72%, respectively, with both having accumulated gains of 80% and 173% from their offering prices; Weimob (2013) also rose 22.89%
Maifushi (2556), Fourth Paradigm (6682), and Meitu (1357) all rose by over 10%.</p>
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<p>Last week, the U.S. Supreme Court did not make a ruling on the legality of President Trump's tariff policy. Foreign media reported that the court will announce its opinion on this ruling this Wednesday (14th), but it is unknown whether the opinion is related to tariffs. Although the non-farm data released by the U.S. last Friday was worse than expected, the unemployment rate fell, and the market generally maintains expectations for two rate cuts in the U.S. this year. U.S. stocks closed higher last Friday, and the Hang Seng Index night futures rose by over 0.6%. Analysts indicated that due to funds being more inclined to flow into U.S. stocks, the Hang Seng Index is expected to fluctuate between 25,700 points and 26,850 points.</p>
<p>The Hang Seng Index opened 145 points higher this morning, starting at 26,376 points. Tech stocks generally rose, with Tencent (700) up 0.82%; Alibaba (9988) up 0.27%; Meituan (3690) up 2.84%; Baidu (9888) up 2.55%; JD (9618) and NetEase (9999) rose by 0.61% and 0.09%, respectively; Xiaomi (1810) fell by 1.43%. In addition, market focus is on the new stock Minimax (100), which opened at HKD 378.8, rising nearly 10%.</p>
<h2>Pay attention to whether the central government will introduce policies to stimulate domestic demand</h2>
<p>Zeng Yongjian, vice chairman of the Hong Kong Stock Analysts Association, stated that since the Venezuela incident, macro funds have been more inclined to flow into U.S. stocks. The Hong Kong stock market has recently lacked a clear direction, mainly due to the market's continued focus on the performance of the mainland economy. It is estimated that the Hang Seng Index will maintain a fluctuating market pattern in the short term. If U.S. stocks do not significantly decline or adjust, the Hang Seng Index's fluctuation range will be 25,800 points to 26,700 points. However, he reminded investors to pay attention to whether the central government will introduce monetary policy to stimulate domestic demand before the Spring Festival and to be wary of external political situations, such as sudden events in the Middle East that may trigger &#34;gray rhino&#34; risks in the financial market. Independent analyst Lu Bingjun stated that whether it is tariffs or worse-than-expected non-farm data, the recent trend of Hong Kong stocks has already reflected these factors in advance, and it is expected that Hong Kong stocks will fluctuate in the short term between 25,700 points and 26,850 points.</p>
<p>Recently, mainland officials have launched a competitive investigation into food delivery platforms. Zeng Yongjian pointed out that the official investigation into food delivery platforms may create short-term pressure on the three major leading companies in the sector, especially since one of the leaders, Meituan, has seen its stock price weaken and fall below the rebound support level of around HKD 100 over the past two months, which may face a new wave of selling pressure. Lu Bingjun stated that the official intervention in the market competition of food delivery platforms may cool down the trend of vicious competition among these platforms, helping to temporarily slow down the decline in their stock prices, which may be a good thing for the related companies.</p>
<p>This week, four new stocks, including OmniVision Technologies (501), Red Star Cold Chain (1641), Zhaoyi Innovation (3986), and BBSB INTL (8610), will be listed on the Hong Kong Stock Exchange. In addition, the health product manufacturer Xianle Health, listed on the Shenzhen Stock Exchange, recently announced that it has reviewed and approved the company's proposal to issue H shares and list on the main board of the Hong Kong Stock Exchange. The company explained that this is to deepen the company's globalization strategy layout, utilize the advantages of the international capital market, create a diversified capital operation platform, enhance capital strength and comprehensive competitiveness, and accelerate the development of overseas business
Looking ahead to this week, the G7 finance ministers' meeting will be held, and the Federal Reserve will release the latest Beige Book survey on regional economic conditions. In terms of data, a series of significant figures will be released, including the U.S. CPI for December, PPI for November, retail data, and China's total social financing for December</p>

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<p>The Hang Seng Index closed up 377 points, reaching a nearly two-month high, closing at 26,608 points. AI concept stocks performed strongly, with KNOWLEDGE ATLAS surging 31% and MINIMAX-WP rising 15%. KUAISHOU-W's stock price increased by 7.4%, and SENSETIME-W rose by 6.9%. The Shanghai and Shenzhen stock markets also moved upward, with the Shanghai Composite Index reaching a high not seen in over 10 years. The total market turnover increased to HKD 306.2 billion, with a net inflow of HKD 7.3 billion from northbound trading</p>

- Hong Kong's stock market showed strong performance, driven by the AI sector and positive trends in the Shanghai and Shenzhen markets.  
- The Hang Seng Index closed at a two-month high of 26,608 points, up 377 points, with significant trading volume of 306.2 billion Hong Kong dollars.  
- The ongoing AI hype, particularly surrounding companies like DeepSeek, continues to influence market dynamics and trading strategies.

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The Hang Seng Index rose by 376 points, Meituan surged by 7% returning to the red, the AI sector exploded, and experts indicate that the market still faces catalysts | Hong Kong stock market closing