Fullgoal CSI Hong Kong Connect Technology ETF

Before the Spring Festival in 2026, the Chinese consumer market released positive signals, with the renminbi breaking through the 6.9 mark. Surveys from JP Morgan and Bank of America show that structural recovery in consumption, a strong renminbi, and changes in upstream costs are affecting the market. 39% of respondents use AI tools multiple times a week, mainly for shopping and itinerary planning. The consumer mindset is becoming more pragmatic, with a strengthened willingness to spend among high-income groups. Companies need to pay attention to a market structure that balances high-end offerings with cost-effectiveness

- As the Spring Festival of 2026 approaches, China's consumer market shows positive signs, with increased spending anticipated from high-income groups.  
- Key insights highlight a structural recovery in consumption, a stronger renminbi affecting risk preferences, and rising upstream costs reshaping profits.  
- Analysts suggest careful stock selection to navigate these trends, emphasizing a cautious yet differentiated consumer behavior.

Wallstreetcn

JPMorgan Chase

Spring Festival trading big red envelope, in addition to AI, there are also consumption, RMB

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In the morning session, the CPO sector strengthened again, with TFC, Focuslight, Zesum, and T&S rising over 10%, continuing to set historical highs. USISH, AFR, RoboTechnik, and JEPET also followed suit. The non-ferrous tungsten concept continued its strong performance, with ZY-Tungsten hitting the daily limit, and Xianglu Tungsten, CHINATUNGSTEN HIGHTECH, and XTC also rising

RoboTechnik

CHINATUNGSTEN HIGHTECH

ZY-Tungsten

Xianglu Tungsten

Focuslight

ChiNext

Zesum

USISH

Harvest CNI Communication ETF

ChinaAMC CSI 5G Communication ETF

Guotai CSI All Share Communications Equipment ETF

Tianhong CSI Computer Theme ETF

E Fund CSI Telecom Thematic ETF

GF Fund CNI Communication ETF

The ChiNext rose over 1%, computing hardware stocks surged, CPO exploded, the Hang Seng Index fell over 1%, NetEase dropped 5%, and the offshore RMB broke through the 6.9 mark

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On February 12th, the Hong Kong stock market's AI sector exploded, with KNOWLEDGE ATLAS rising over 40%. The "Four Little Dragons of Domestic GPUs," ILUVATAR COREX saw its afternoon gains expand to 25%, while BIREN TECH rose nearly 10%. KNOWLEDGE ATLAS's GLM-5 parameters doubled and raised prices against the trend, while MiniMax M2.5 focuses on native Agent capabilities. Domestic models are shifting from a "price war" to a technology race centered on programming and intelligence

- On February 12, 2026, Hong Kong's AI sector surged, driven by the release of domestic large models during the Spring Festival.  
- Notable gains included a 40% increase for Zhipu AI with its GLM-5 model, while MiniMax's M2.5 model saw over a 21% rise, both focusing on programming and agent capabilities.  
- The sector is experiencing intensified competition, highlighted by multiple companies launching models, pushing the Chinese AI market towards rapid advancements and innovation.

KNOWLEDGE ATLAS

MINIMAX-WP

ILUVATAR COREX

BIREN TECH

KNOWLEDGE ATLAS up 40%, MINIMAX-WP up 25%, the chip sector also soared! Hong Kong stocks AI concept exploded

KNOWLEDGE ATLAS surged 39.12%; MINIMAX-WP surged 22.12%, with a transaction volume reaching HKD 1.472 billion; Dippin' Technology rose 6.02%, with a transaction volume reaching HKD 58.69 million; Out of the Door fell 1.56%, with a transaction volume reaching HKD 955,400; Qizhan Holdings rose 4.72%, with a market value reaching HKD 651 million

HK Stock Movers Tracker

Hong Kong stock movement: KNOWLEDGE ATLAS surged 39.12%, driven by the dual benefits of a new flagship model and policy support boosting the stock price

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During the Spring Festival holiday red envelope battle, giants like Tencent, Baidu, and Alibaba launched cash red envelopes, reaching a record scale. However, payment settlement capability has become a key competitive advantage. Tencent stated that the Spring Festival period is a peak for WeChat Pay transactions, testing system performance and stability. To cope with high concurrent transactions, Tencent has built a multi-center financial-grade data cluster to ensure 99.999% availability and has strengthened its network security protection system to prevent cyber attacks and data breaches

AASTOCKS

Alibaba

Baidu

ALI HEALTH

Tencent Holdings Limited

BIDU-SW

Reports indicate that the "red envelope" battle during the Spring Festival tests the clearing and settlement capabilities, with Tencent stating it will strengthen its cybersecurity protection system

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On February 12th, the three major indices of the Hong Kong stock market collectively weakened during the session, with the Hang Seng TECH Index falling by 1.58%, leading the market decline. Affected by the escalation of the AI model war, the internet and retail sectors experienced widespread declines, with heavyweight stocks such as Tencent Holdings, Meituan, and Alibaba under pressure. Market sentiment has turned cautious, with funds closely monitoring macro data such as retail sales and imports and exports to verify the strength of the economic recovery

- On February 12, Hong Kong's stock indices experienced a collective downturn after reaching yesterday's highs, with the Hang Seng Index down 0.68% to 27,082.16 points.  
- The technology sector faced significant losses, particularly the Hang Seng Tech Index, which fell 1.58%, pressured by concerns over competition in the AI market.  
- Investors are focusing on macroeconomic data for February, especially retail sales and import-export figures, to gauge local consumption recovery and external demand resilience.

Market Heartbeat

TENCENT

BILIBILI-W

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BABA-W

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LEMO SERVICES

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ZIJIN MINING

CSOP HS TECH

Hang Seng TECH Index

Tencent

Meituan

Hong Kong stock market intraday | Hang Seng TECH Index down 1.58%, Tencent down 2.83%, Meituan down 3.38%

TCEHY

The Spring Festival raid tactic of DeepSeek in 2025 has become an industry textbook case. By 2026, everyone has learned this trick. ByteDance, Alibaba, KNOWLEDGE ATLAS, and DeepSeek have intensively released flagship models during the "Spring Festival" period, shifting the focus of competition from purely model performance to "efficiency" and the implementation of "intelligent agents." Analysis indicates that if DeepSeek V4 achieves cost reduction in inference, it will drive AI from standalone apps to being "embedded" in high-frequency applications like WeChat, with Tencent likely becoming the biggest beneficiary

- The 2026 Spring Festival signals intense competition among China's AI giants for market entry, with a surge in flagship model releases this year.  
- Leading players like ByteDance, Alibaba, and DeepSeek are launching multiple AI models to capture consumer attention, with predictions of a "winner-takes-all" scenario emerging from simultaneous releases.  
- While Tencent is expected to benefit most from these developments, the actual market adoption of AI applications hinges on resolving reliability and latency issues during user testing.

China's large model "Spring Festival 档" is launched! Waiting for consumer-grade AI to produce "blockbusters"

U.S. retail data disappoints, the three major indices show mixed results, new AI tools raise concerns about industry prospects, wealth management stocks plummet, with Charles Schwab falling over 7%; storage chip stocks significantly retreat, with SanDisk dropping over 7%; the offshore yuan hits a nearly three-year high, breaking 6.91 intraday for the first time in nearly three years

Breakfast | U.S. retail data disappoints, three major indexes mixed

The Hang Seng Index Company pointed out that China's 15th Five-Year Plan emphasizes technological self-reliance and strength, and industries such as healthcare, information technology, cloud computing, and e-commerce will welcome more development opportunities. With the increase in R&D investment, the R&D expenditure of mainland research institutions has continued to grow over the past 20 years, with an average annual compound growth rate of 11.7%. China's rise in the field of artificial intelligence has also been recognized by global users, with 7 Chinese artificial intelligence models entering the global top 15, demonstrating the impact of Chinese technology companies on global technological development

Hang Seng Index Company: Healthcare, Information Technology, Cloud Computing, and E-commerce companies are expected to have more opportunities under the "14th Five-Year Plan."

In the early trading session, the concept of computing power leasing continued last week's strong momentum, with Dawei Technology and Hengrun Co., Ltd. hitting the daily limit, while Pingzhi Information, Xiexin Energy Technology, Xiechuang Data, Litong Electronics, and Meili Cloud also saw gains. The photovoltaic sector opened strongly, with Jinjing Technology hitting the daily limit, Juhe Materials rising over 10%, and Xiexin Integration, Liancheng CNC, Aotewei, Junda Co., Ltd., and JinkoSolar following suit

AH shares opened significantly higher! The Shanghai Composite Index rose by 1%, the photovoltaic industry chain saw a surge in limit-up stocks, computing hardware and precious metals rallied, the Hang Seng Index rose over 1%, and tech stocks all increased

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The three major indices of the Hong Kong stock market experienced fluctuations and adjustments during the trading session, with the Hang Seng Index down 1.07% and the Hang Seng Tech Index down 0.83%. The internet content and information, as well as retail sectors, showed weak performance, with leading companies like Tencent Holdings and Alibaba facing significant pressure. The hardware sector exhibited structural differentiation, with Xiaomi Group performing strongly against the trend. Resource stocks such as gold and non-ferrous metals showed notable volatility, and the rotation of funds highlighted structural opportunities, while market confidence continued to be disturbed by macroeconomic data

- The Hong Kong stock market is experiencing fluctuations, with major indices down; the Hang Seng Index is at 26,596.92, falling 1.07%.  
- Internet and retail sectors are particularly affected by cautious investor sentiment, while certain hardware stocks, like Xiaomi, show slight gains amid market volatility.  
- Key macroeconomic indicators continue to weigh on the market, emphasizing the need for investors to closely monitor economic data for strategic decision-making.

JD-SW

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LENOVO GROUP

LEGENDHOLDING

DRAGON MINING

REALORD GROUP

NANFANG COMM

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SMIC

Hong Kong stock market intraday | The Hang Seng Index fell by 1.07%, leading tech stocks under pressure, small-cap stocks active, Long Resources surged 45.81% intraday

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Dan Bin shared his market investment insights on the era of artificial intelligence in a CCTV finance program. He believes that we are still in a year of significant development for artificial intelligence. Despite the stock market decline, he views the bubble as mere noise and advises investors to focus on industry chains such as NVIDIA, Alphabet, and Tesla. He emphasized that the risk of missing out on the era is greater than the concern about the bubble, recommending that funds be directed towards emerging industries like artificial intelligence and biopharmaceuticals, and he believes the next decade will be a bull market for artificial intelligence

- On February 4, Dongfang Hongyuan's chairman Dan Bin discussed investment insights in the AI era on CCTV Finance.  
- He emphasized that learning about transformative technologies is crucial to avoid missing significant opportunities and highlighted that few companies drive most profits in history.  
- Despite concerns over market bubbles, he advocates for long-term investments in AI and biotechnology, predicting that 2026 will be pivotal for AI applications and economic growth.

iShares Semiconductor ETF

Direxion Daily TSLA Bull 2X Shares

T-Rex 2X Long NVIDIA Daily Target ETF

Direxion Daily GOOGL Bull 2X Shares

Leverage Shares 2X Long TSLA Daily ETF

VanEck Semiconductor ETF

Spdr Select Tech

Roundhill GOOGL WeeklyPay ETF

Direxion Semicon Bull 3X

SPDR S&P Software

YieldMax NVDA Option Income Strategy ETF

Alphabet

Global X Cloud Computing ETF

Alphabet - C

GraniteShares 1.25 Long TSLA Daily ETF

T-Rex 2X Long Tesla Daily Target ETF

Direxion Daily NVDA Bull 2X Shares

NVIDIA

GraniteShares 2x Long NVDA Daily ETF

GraniteShares 2x Long TSLA Daily ETF

Tesla

Dan Bin: We are still in a year of significant development for artificial intelligence. Even if stocks decline this year, the bubble is just noise. Focus on the supply chains of NVIDIA, Google, and Tesla

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Annuity plans are gradually emerging in the fund market, and the recent phenomenon of "group" purchases of ETFs has attracted attention. In the Fullgoal CSI Hong Kong Connect Technology ETF, which is set to be listed on July 25, 9 out of the top 10 fund shareholders are annuity plans. Data shows that the scale of listed funds held by annuity investors has exceeded 6 billion yuan, an increase of over 300% compared to the end of 2022. However, compared to the several trillion yuan scale of annuity plans, the potential for annuity allocation in public funds remains enormous

"Group" purchase of ETFs, annuity plans accelerate allocation of fund assets

Fullgoal CSI Hong Kong Connect Technology ETF(520860.SH)

Spring Festival trading big red envelope, in addition to AI, there are also consumption, RMB

The ChiNext rose over 1%, computing hardware stocks surged, CPO exploded, the Hang Seng Index fell over 1%, NetEase dropped 5%, and the offshore RMB broke through the 6.9 mark

KNOWLEDGE ATLAS up 40%, MINIMAX-WP up 25%, the chip sector also soared! Hong Kong stocks AI concept exploded

Hong Kong stock movement: KNOWLEDGE ATLAS surged 39.12%, driven by the dual benefits of a new flagship model and policy support boosting the stock price

Reports indicate that the "red envelope" battle during the Spring Festival tests the clearing and settlement capabilities, with Tencent stating it will strengthen its cybersecurity protection system