The Hang Seng Index rose 287 points in the half-day session, regaining the 27,000 mark, with HSBC and AIA leading the gains, and insurance stocks collectively rising | Hong Kong Stock Market Afternoon Session

The Hang Seng Index opened 97 points higher this morning and continued to rise, reaching a maximum increase of 423 points, peaking at 27,188 points. It closed at noon up 287 points or 1.07%, reporting 27,053 points, surpassing the 27,000 mark again, with a half-day turnover of HKD 134.768 billion. The Tech Index rose 11 points or 0.2%, reporting 5,737 points. Among blue-chip stocks, HSBC (005) rose 2% in the half-day, AIA (1299) rose 3.5%, along with Alibaba (9988) and Tencent (700) rising 2.2% and 1.1% respectively, leading the market. These four stocks contributed 168 points to the Hang Seng Index. Bilibili Hits 52-Week High Tech stocks showed mixed developments, with Bilibili (9626) seeing its AI applications become the core increment for advertising on Bilibili, causing the stock price to peak at HKD 270.4, hitting a 52-week high, and continuing to rise 5.46% at noon, reporting HKD 270.2; Xiaomi (1810) rose 0.51%. However, Baidu (9888) fell 0.19%; Meituan (3690) fell 0.51%; JD.com (9618) also fell 1.38%. Additionally, domestic insurance stocks have begun to disclose last year's premium income or net profit-related data, with expectations for performance growth in 2025, leading to a collective rise in stock prices, including China Life (2628) rising 3.6%; China Pacific Insurance (1339) rising 2.47%; and Ping An Insurance (2318) also rising 1.91%. Conant Optical's Share Placement Rises Instead of Falls In individual stocks, Conant Optical (2276) plans to place shares at a discount of over 11% to raise nearly HKD 1.4 billion, with the proceeds to be used for building XR-related businesses. However, the stock price rose instead of falling, peaking at a rise of 11.7% this morning, hitting a historical high, and reporting HKD 60.95 at noon, up 4.19%. Moreover, the open-source personal AI assistant ClawdBot has sparked a heated discussion, with its developer Peter Steinberger stating that it currently runs ClawdBot locally using Minimax 2.1, calling it the most "Agentic" large model. This news stimulated the related stock Minimax (100), which rose 8.19% in the half-day, reporting HKD 417.6. Relations between Europe and the United States remain tense. On Monday, the Chairman of the European Parliament's International Trade Committee, Lange, 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 agreement reached with the United States, announcing that he will raise the equivalent tariffs on South Korean automobiles, timber, pharmaceuticals, and all other goods from 15% to 25%. Gold and Silver Prices Pull Back After Surge Amid geopolitical tensions, gold and silver prices remain high but have pulled back after surging. Gold prices peaked at USD 5,111 on Monday but have since fallen back to USD 5,025; silver prices previously peaked at USD 117.75, currently reporting USD 107.1, reflecting a pullback of about 9% In the U.S. stock market, the three major indices performed well on Monday, with the Dow Jones closing up 313 points or 0.64% at 49,412 points; the S&P 500 rising 34 points or 0.5% to 6,950 points; and the Nasdaq increasing 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. Alibaba Releases Qwen3-Max-Thinking Flagship Inference Model In the Hong Kong stock market, the Hang Seng Index opened 97 points higher this morning, reporting 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, making it the mainland AI large model closest to international top models; the stock opened at HKD 166.8, up 1%. Other tech stocks showed mixed developments, with Tencent (700) rising 0.08%, returning above HKD 600; Meituan (3690) unchanged; Xiaomi (1810) up 0.06%; JD.com (9618) down 0.2%, and Baidu (9888) down 1.7%. Anta Acquires Nearly 30% Stake in PUMA SE In individual stock news, Anta (2020) has signed a share purchase agreement with the French Pinault family’s Artemis, agreeing to conditionally acquire a 29.06% stake in PUMA SE for over EUR 1.5 billion. The stock opened at HKD 77.5, up 1.5%. Sunny Optical Submits Listing Application for Spin-off Sunny Optical (2382) announced that it has submitted a listing application to the 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%. Tenstorrent's Product Performance Surpasses Nvidia Tenstorrent (9903) released a fourth-generation architecture roadmap that benchmarks and surpasses Nvidia's architecture, with its "Tongyang" edge products outperforming 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%. Ark Health's Significant Rise Followed by Share Placement Additionally, Ark Health (6086) saw its stock price soar 33% after a positive 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%. Regarding the northbound capital flow, there was a net sell of HKD 825 million in Hong Kong stocks yesterday, with Tencent (700), Xiaomi (1810), and Pop Mart (9992) receiving net purchases of HKD 1.015 billion, HKD 822 million, and HKD 613 million, respectively; while China Mobile (941), Zijin (2899), and the Tracker Fund of Hong Kong (2800) faced net sells of HKD 1.177 billion, HKD 1.077 billion, and HKD 1.036 billion, respectively