Market Overview▪ Recently, Hong Kong stocks have shown active performance during trading hours, with the increase further expanding. As of now, the three major indices are performing as follows:▪ The Hang Seng Index is at 26,586.54 points, up 1.35%, with clear short-term rebound momentum.▪ The Hang Seng Tech Index rose 2.93% during the session, reaching 5,853.63 points, showing extremely strong performance.▪ The China Enterprises Index stood above 9,204.71 points during the session, up 1.73%.Sector Performance▪ The internet content and information sector continues to rise, driven by leading companies, with an optimistic atmosphere in the sector. Kuaishou-W performed outstandingly, rising 6.83%, with a transaction volume of HKD 4.92 billion, showing clear market capital chasing. Tencent Holdings rose 2.21%, with a transaction volume of HKD 12.533 billion, Baidu-SW rose 5.17%, Bilibili-W rose 6.09%, and Meitu Inc. rose 12.36%. Overall, the internet sector has become a key rotation direction for capital.▪ The retail sector benefited from rising expectations of consumer recovery, with continuous capital inflow into leading companies in the sector. Alibaba-W rose 5.46%, with a transaction volume of HKD 19.88 billion, standing out as a core stock of significant interest to market capital; JD-SW rose 2.53%, with a transaction volume of HKD 681 million, Miniso rose 3.74%, all three maintaining active trading status, indicating strong overall bullish sentiment in the sector.▪ The catering service sector also performed brightly during the session, with brand companies driving capital entry. Meituan-W rose 6.40%, with a transaction volume of HKD 8.94 billion, becoming one of the strongest leaders in today's session. Haidilao rose 5.36%, and Mijia Group slightly rose 0.33%. The momentum for catering consumption has strengthened, attracting major capital participation in leading companies, with clear rotation characteristics in the sector.Macroeconomic Background▪ Hong Kong stocks are influenced by a combination of mainland economic data and expectations of Federal Reserve policies during the session. Capital liquidity, local retail, and export performance have become the main focus of the market. Investors need to continuously pay attention to foreign exchange reserves, unemployment rates, and consumption performance to grasp the future trends of Hong Kong stocks. The current market rotation is evident, with a consistent bullish direction formed based on economic and policy signals in the short term.Popular Stocks▪ Zhiyu (2513.HK) surged 55.23% during the session, with a transaction volume of HKD 1.38 billion. Zhiyu has reached a strategic cooperation with Didi to jointly explore the implementation of travel Agent scenarios. The stock has seen its increase expand since its listing three days ago, showing that capital is chasing popular tracks, with clear short-term capital driving effects.▪ MINIMAX-WP (100.HK) rose 30.78% during the session, with a transaction volume of HKD 2.137 billion. As a representative of recent AI-listed companies in Hong Kong stocks, the company raised an additional HKD 700 million, with a market value exceeding HKD 130 billion. Speculative capital and funds have concentrated short-term involvement, indicating extremely active market sentiment.▪ Weimeng Group (2013.HK) rose 22.89% during the session, with a transaction volume of HKD 1.42 billion. The company is also related to AI, having launched GEO solutions to enhance its &#34;AI + marketing&#34; layout, attracting capital chasing▪ Maifushi (2556.HK) rose 26.86% during the session, with a transaction amount of HKD 691 million. It is reported that the company has launched the GEO smart assistant, gaining favorable funding as the popularity of the sector increases.▪ Shiteng Holdings (2562.HK) rose 26.98% during the session, with a transaction amount of HKD 511 million. The market is filled with speculation, and major funds are quickly switching hotspots.Market Transaction Amount TOP10▪ Alibaba -W (9988.HK) latest transaction price HKD 154.60, up 5.53%, transaction amount HKD 19.879 billion▪ Tencent Holdings (700.HK) latest transaction price HKD 624.50, up 2.21%, transaction amount HKD 12.533 billion▪ Meituan -W (3690.HK) latest transaction price HKD 104.80, up 6.4%, transaction amount HKD 8.940 billion▪ Xiaomi Group -W (1810.HK) latest transaction price HKD 38.68, up 2.27%, transaction amount HKD 5.877 billion▪ Kuaishou -W (1024.HK) latest transaction price HKD 79.75, up 6.76%, transaction amount HKD 4.919 billion▪ SMIC (981.HK) latest transaction price HKD 74.85, up 0.6%, transaction amount HKD 3.637 billion▪ Ping An Insurance (2318.HK) latest transaction price HKD 68.40, down 2.29%, transaction amount HKD 3.585 billion▪ Horizon Robotics -W (9660.HK) latest transaction price HKD 9.11, down 4.61%, transaction amount HKD 2.674 billion▪ Hua Hong Semiconductor (1347.HK) latest transaction price HKD 91.50, up 0.27%, transaction amount HKD 2.338 billion▪ SenseTime -W (20.HK) latest transaction price HKD 2.63, up 6.48%, transaction amount HKD 2.301 billion

Hong Kong stocks performed actively during the session, with all three major indices rising. The Hang Seng Index increased by 1.35%, and the Hang Seng Tech Index rose by 2.93%. The retail, internet content and information, and catering sectors led the gains, with Alibaba -W up 5.46%, Meituan -W up 6.40%, Tencent Holdings up 2.21%, and Kuaishou -W up 6.83%. Popular stocks such as Kuaishou and SenseTime saw significant increases. The market is focused on liquidity and consumption data, with an overall strong atmosphere

- Hong Kong stocks showed vibrant trading recently, with the Hang Seng Index rising 1.35% to 26,586.54 points.  
- Key sectors included the internet, retail, and food services, demonstrating robust gains, notably Kuaishou (up 6.83%) and Alibaba (up 5.46%).  
- The market is influenced by local economic data and liquidity, with significant trading observed in high-demand stocks such as Zhizu and MINIMAX.

Market Heartbeat

KUAISHOU-W

TENCENT

BIDU-SW

BILIBILI-W

MEITU

BABA-W

JD-SW

MNSO

MEITUAN

HAIDILAO

MIXUE GROUP

KNOWLEDGE ATLAS

MINIMAX-WP

WEIMOB INC

MARKETINGFORCE

SYNAGISTICS

XIAOMI-W

Meituan

Alibaba

Tencent

Tencent Holdings Limited

Hong Kong stocks intraday | The Hang Seng Tech Index rose by 2.93%, with internet and AI-related stocks generally surging