The Science and Technology Index (科指) continued to rise by 2%. Alibaba, MEITUAN-WR, Bilibili, NIO-SW, XPENG-W, and BIDU-SWR continued to rise by over 3% to 4%.

The Nasdaq rose for the fifth consecutive day, outperforming the blue-chip index. Last night (20th), Microsoft (MSFT.US) and Nvidia (NVDA.US) both hit record highs, with the Nasdaq closing up 1.1% at 14,284, reaching a three-month high. In addition, the Golden Dragon China Index, which reflects the performance of Chinese concept stocks, surged 3.55% overnight. The Hang Seng Index also reached a three-month high yesterday, with the Hang Seng Tech Index rising 2.4% to close at 4,077, crossing the 250-day moving average. This morning (21st), it opened nearly 1.5% higher at 4,137, with the increase expanding to nearly 2% at a high of 4,157 before encountering resistance. It is currently trading at 4,125, up 1.2%. Nearly two-thirds of the Hang Seng Tech Index constituents performed well, with Baidu-SW (09888.HK), which was released today, rebounding and crossing the 10-day and 20-day moving averages, reaching a high of HKD 110.4, and currently trading at HKD 109, up 4.3%. Alibaba-SW (09988.HK) reached a high of HKD 77.5 and is currently trading at HKD 77.05, up 3.5%. Weibo-SW (09898.HK), JD.com-SW (09618.HK), and Meituan-W (03690.HK) continued to rise by 2% to 4%, with the latter outperforming and trading at HKD 113.4. Tencent (00700.HK), a heavyweight stock, continued its upward momentum from yesterday and challenged the 250-day moving average (approximately HKD 332.15) this morning. It reached a high of HKD 332.6 before encountering resistance and is currently trading at HKD 329.8, up 1%. Bilibili-W (09626.HK) crossed the 10-day moving average, reaching a high of HKD 115.5 (temporarily affected by the 100-day moving average of HKD 116.5), and is currently trading at HKD 114.8, up 4.4%. Kuaishou-W (01024.HK) crossed the 100-day moving average, reaching a high of HKD 62.25, and is currently trading at HKD 61.4, up over 2%. "Weilittle" continued to rise by over 2% to 4%, with NIO-SW (09866.HK) and Xiaopeng-W (09868.HK) showing larger gains, reaching highs of HKD 62.5 and HKD 73.2, respectively. They are currently trading at HKD 62.2 and HKD 71.75, up 4.4% to 4.8%. However, stocks in the mobile device sector were under pressure, with Sunwoda (02382.HK) and BYD Electronics (00285.HK) both falling by 1% and 0.9% respectively, trading at HKD 72.45 and HKD 37.45. Lenovo Group (00992.HK) fluctuated and fell by 1.3% to HKD 9.73. Xiaomi-W (01810.HK) reported a year-on-year loss for the last quarter, with adjusted net profit of nearly RMB 6 billion, exceeding expectations. However, investors took advantage of the good news to sell, with the stock reaching a high of HKD 16.44 before encountering resistance, turning around and falling below the 10-day moving average, reaching a low of HKD 15.68, and currently trading at HKD 15.9, down 1.7%. (sz/da)