"Hong Kong Stocks" Hang Seng Index rises 146 points in half a day, AI and pharmaceutical stocks favored, KNOWLEDGE ATLAS surges 21%

U.S. tech stocks continued to rebound, with the Nasdaq rising 0.9% overnight (on the 9th). The Monetary Authority provided banks with up to HKD 1.18 billion through the discount window for nearly three months. Hong Kong stocks rose in the early market. The Hang Seng Index opened 175 points higher, and the gains later expanded to 370 points, reaching a high of 27,397 points. It rose 146 points or 0.5% to close at 27,173 points; the National Index rose 71 points or 0.8% to 9,239 points; the Hang Seng Tech Index rose 45 points or 0.8% to 5,463 points. The total turnover of the market for half a day was HKD 133.823 billion.

In the tech sector, Tencent (00700.HK) and Meituan (03690.HK) fell 1.1% and 3%, respectively. Kuaishou (01024.HK), JD-SW (09618.HK), Baidu (09888.HK), Alibaba (09988.HK), and NetEase (09999.HK) rose between 1.5% and 2.3%. Additionally, Meitu (01357.HK) and China Ruiyi (00136.HK) rose 3.8% and 7%, while New Oriental (09901.HK) and Dongfang Zhenxuan (01797.HK) fell 4.7% and 5.8%. Yueda (00772.HK) surged 15.6%, with the company's CEO stating in an internal letter that new business formats have become a new growth engine.

AI stocks continued to be popular, with Jingtai (02228.HK) rising 3.1%, and CloudWalk (09678.HK) and Envision (03696.HK) bouncing back 7.4%. Knowledge Atlas (02513.HK) surged 21% to close at HKD 335, and MINIMAX (00100.HK) rose 6.7% to HKD 549.5. Morgan Stanley initiated coverage on Knowledge Atlas and MiniMax with a rating of "Overweight," setting target prices of HKD 400 and HKD 700, respectively, both corresponding to a projected P/E ratio of 30 times for 2030.

In the chip sector, SMIC (00981.HK) rose 0.5%, Hua Hong (01347.HK) fell 1.5%, while InnoCare (02577.HK) and TianShu Intelligent Chip (09903.HK) rose 7.5% and 4.6%. In the wire sector, Changfei Optical Fiber (06869.HK) rose 4.6%. In the power equipment sector, Dongfang Electric (01072.HK) rose 5.6%.

Pharmaceutical stocks saw demand, with CSPC (01093.HK), Innovent Biologics (01801.HK), and WuXi Biologics (02269.HK) rising 5.3% to 6.3%. China National Pharmaceutical (01177.HK), WuXi AppTec (02359.HK), and Kangfang (09926.HK) rose 4.1% to 4.5%.

In the commodity sector, Jiangxi Copper (00358.HK) rose 2%, while China Gold International (02099.HK) fell 2.3%. Zhaojin (01818.HK) fell 6%. Domestic media reported that a shaft at the Shandong Zhaoyuan Silk Village Gold Mine under Zhaojin experienced a hoisting accident resulting in 7 deaths, and the company is suspected of concealing the incident and is under investigation In the financial sector, HSBC (00005.HK) rose 0.6% to HKD 140.2, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) fell 0.3% and 0.8%, respectively. UBS upgraded China Minmetals (01988.HK) to "Buy," and China Minmetals (01988.HK) rose 3.7%.

Tourism stocks were weak, with airline stocks China Southern Airlines (01055.HK) down 3%, China Eastern Airlines (00670.HK) and Air China (00753.HK) down 4.1% and 4.9%, respectively; casino stocks Galaxy Entertainment (00027.HK) and Melco International (00200.HK) fell 2.1%. Travel platform Tongcheng Travel (00780.HK) dropped 2.5%, and duty-free shop China Duty Free Group (01880.HK) fell 4.7%. In the automotive sector, BYD (01211.HK) and Xiaomi (01810.HK) rose 3.1% and 2%, respectively. In other consumer stocks, Haidilao (06862.HK) fell 3%, while film stocks Damai Entertainment (01060.HK) and Maoyan Entertainment (01896.HK) rose 7.1% and 4.4%. Retail stock Pop Mart (09992.HK) reported global sales of over 400 million units of its IP products last year, and the stock rose 4.4%.

In the domestic property sector, Longfor Group (00960.HK) reported a 45% decrease in total contract sales for January, with its stock price falling 2.1% in half a day