<p>The relationship between Europe and the United States continues to be tense. On Monday, Bernd Lange, Chairman of the European Parliament's International Trade Committee, stated that the European Parliament did not make a decision on whether to resume the approval process for the EU-US trade agreement; at the same time, the European Parliament's negotiating team will hold a meeting on February 4 to reassess the current situation. On the other hand, U.S. President Trump also stated that the South Korean National Assembly has not fulfilled the agreements made with the United States, announcing that tariffs on South Korean automobiles, timber, pharmaceuticals, and all other goods will be raised from 15% to 25%.</p>
<h2>Gold and Silver Prices Pull Back After Surge</h2>
<p>Amid geopolitical tensions, gold and silver prices remain high but have pulled back after surging. On Monday, gold prices peaked at $5,111 but have since retreated to $5,025; silver prices reached a high of $117.75, currently reported at $107.1, a drop of about 9%. In the U.S. stock market, the three major indices performed well on Monday, with the Dow Jones Industrial Average closing up 313 points or 0.64% at 49,412 points; the S&amp;P 500 rose 34 points or 0.5% to 6,950 points; and the Nasdaq increased by 100 points or 0.43% to 23,601 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it fell 0.63% to 7,828 points on Monday.</p>
<h2>Alibaba Releases Qwen3-Max-Thinking Flagship Inference Model</h2>
<p>In the Hong Kong stock market, the Hang Seng Index opened 97 points higher at 26,863 points. Alibaba (9988) officially released the Qwen3-Max-Thinking flagship inference model, which performs comparably to GPT-5.2 and Gemini 3 Pro, becoming the mainland AI large model closest to international top models; the stock opened at HKD 166.8, up 1%.</p>
<p>Other tech stocks showed mixed developments, with Tencent (700) rising 0.08%, surpassing HKD 600; Meituan (3690) remained unchanged; Xiaomi (1810) rose 0.06%; JD.com (9618) fell 0.2%, and Baidu (9888) also dropped 1.7%.</p>
<h2>Anta Acquires Nearly 30% Stake in PUMA SE</h2>
<p>In individual stock news, Anta (2020) has signed a share purchase agreement with the French Pinault family’s Artemis, conditionally agreeing to acquire a 29.06% stake in PUMA SE for over €1.5 billion. The stock opened at HKD 77.5, up 1.5%.</p>
<h2>Sunny Optical Submits Listing Application for Spin-off</h2>
<p>Sunny Optical (2382) announced that it has submitted a listing application to the Hong Kong Stock Exchange through its joint sponsors regarding the proposed spin-off of its automotive-related optical business for independent listing. The stock opened at HKD 62.1, up 0.16%.</p>
<h2>TianShu ZhiXin's Product Performance Surpasses Nvidia</h2>
<p>TianShu ZhiXin (9903) released a fourth-generation architecture roadmap that benchmarks and surpasses Nvidia's architecture, with the &#34;Tongyang&#34; edge product performance exceeding Nvidia's AGX Orin, and announced over 300 customers and 1,000 deployments of scaled landing results. The stock opened at HKD 196, up over 4%.</p>
<h2>Ark Health's Stock Surges After Earnings Surprise, Then Announces Placement</h2>
<p>Additionally, Ark Health (6086) saw its stock price surge 33% after an earnings surprise, and it has recently announced plans to place approximately 45.18 million shares in a way that prioritizes existing shareholders, raising HKD 150 million, which is equivalent to about 3.3% of the expanded issued share capital after the placement and issuance of subscription shares, with a placement price of HKD 3.32 per share, a 12% discount to the previous closing price of HKD 3.77
The stock opened at HKD 3.37, down 10.6%.</p>
<p>In terms of northbound capital flow, there was a net sell of HKD 825 million in Hong Kong stocks yesterday. Tencent (700), Xiaomi (1810), and Pop Mart (9992) saw net purchases of HKD 1.015 billion, HKD 822 million, and HKD 613 million, respectively; while China Mobile (941), Zijin Mining (2899), and Tracker Fund of Hong Kong (2800) experienced net sells of HKD 1.177 billion, HKD 1.077 billion, and HKD 1.036 billion, respectively</p>

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<p>The Hang Seng Index opened 97 points higher this morning, reporting at 26,863 points. Alibaba released the Qwen3-Max-Thinking flagship reasoning model, with its stock price rising 1% to HKD 166.8. The stock price of ILUVATAR COREX increased by over 4%. Anta reached an agreement with the French Pinaud family to acquire nearly 30% of PUMA SE's shares, with its stock price rising 1.5%. The three major U.S. stock indices performed well, while gold and silver prices retreated amid geopolitical tensions</p>

- The relationship between Europe and the U.S. remains tense, with discussions on resuming trade agreement approval procedures ongoing in the European Parliament.  
- U.S. President Trump announced an increase in tariffs on South Korean goods from 15% to 25%, citing non-compliance with previous agreements.  
- In the financial markets, gold and silver prices saw fluctuations, and major U.S. stock indices experienced gains, while Alibaba launched a competitive AI model in Hong Kong.

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The Hang Seng Index opened up 97 points, Alibaba's new model rose 1%, Tian Shu Zhi Xin claimed product performance surpassed Nvidia, and the stock price increased by over 4% | Hong Kong stock market opens