<p>On October 2nd, Hong Kong stocks fluctuated upward throughout the day. By the close, the Hang Seng Index rose by 1.61%, and the Hang Seng Tech Index increased by 3.36%.</p>
<p><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c4e9e39d-8745-4de9-8b2a-9d7f03a9f6aa.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c4e9e39d-8745-4de9-8b2a-9d7f03a9f6aa.png"/></p>
<p>In the market, sectors such as technology stocks and chip stocks generally rose. Among them, chip stocks surged across the board, with SMIC rising over 12% to reach a historical high. Kuaishou rose over 8%.</p>
<p><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2cfa4db3-3f2a-46f2-a8da-c2fa7eea4257.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2cfa4db3-3f2a-46f2-a8da-c2fa7eea4257.png"/></p>
<h2>Chip Stocks Explode Across the Board</h2>
<p>SMIC rose over 12% to reach a historical high, ChipMOS Technologies rose over 10%, Hua Hong Semiconductor rose over 7%, and GlobalWafers rose nearly 7%.</p>
<p><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a2379d7b-9795-40b2-807a-612342438926.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a2379d7b-9795-40b2-807a-612342438926.png"/></p>
<p>In terms of news, according to Securities Times, Samsung Electronics and SK Hynix have reached an agreement to supply storage chips for OpenAI's &#34;Stargate&#34; project. OpenAI will also collaborate with these two Korean companies to build two data centers, creating a Korean-style &#34;Stargate,&#34; which has driven technology stocks higher.</p>
<p>It was reported that on the same day, Samsung Group signed a memorandum of understanding with OpenAI regarding global AI core infrastructure construction cooperation, involving four companies: Samsung Electronics, Samsung SDS, Samsung C&amp;T, and Samsung Heavy Industries. Among them, Samsung Electronics will supply high-performance, low-power memory for the &#34;Stargate&#34; project to meet OpenAI's substantial demand for high-performance DRAM storage chips; Samsung SDS will collaborate on the design, construction, and operation of AI data centers based on advanced data center-related technologies and will be the first in South Korea to carry out resale and technical support for OpenAI enterprise services; Samsung C&amp;T and Samsung Heavy Industries will work with OpenAI to promote the development of global AI data centers.</p>
<h2>Nonferrous Metal Base Strengthens</h2>
<p>By the close, China Silver Group rose over 30%, South Manganese Industry rose over 22%, Tianqi Lithium rose nearly 13%, and Zijin Mining continued its upward trend, closing up nearly 4%.</p>
<p><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/0d86bb02-9e72-40f6-8a11-620cc0d21609.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/0d86bb02-9e72-40f6-8a11-620cc0d21609.png"/></p>
<h2>Technology Stocks Strengthen Collectively</h2>
<p>By the close, Alibaba and JD.com rose over 3%, NetEase and Meituan rose over 1%, and Kuaishou rose over 8%.</p>
<p><img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/f7e19ddd-f7cb-4718-9f0f-79d466c8d287.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/f7e19ddd-f7cb-4718-9f0f-79d466c8d287.png"/></p>
<p>JP Morgan raised its target price for Alibaba's Hong Kong stock by 45%, from HKD 165 to HKD 240. JP Morgan stated that as Alibaba's image shifts from being a &#34;loser in the domestic e-commerce market share&#34; to a &#34;first-tier asset in China's internet,&#34; the growth of its cloud computing and e-commerce businesses is expected to support its higher valuation</p>

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- On October 2, Hong Kong stocks experienced an upward trend, with the Hang Seng Index rising by 1.61% and the Hang Seng Tech Index increasing by 3.36%.  
- Semiconductor stocks surged, led by SMIC, which rose over 12% to reach a record high, while Kuaishou gained more than 8%.  
- Samsung Electronics and SK Hynix announced a partnership with OpenAI to supply storage chips for the "Interstellar Gateway" project, boosting tech stocks and prompting Morgan Stanley to raise Alibaba's target price by 45%.

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On the first trading day of Q4, the Hang Seng Index rose by 3.36%, semiconductor stocks surged, with SMIC up over 12% hitting a record high, KUAISHOU up over 8%, and Alibaba rising over 4% during the session