--- title: "\"Little Lobster\" ignites Hong Kong tech stocks, Tencent surges over 7%" type: "News" locale: "en" url: "https://longbridge.com/en/news/278579901.md" description: "On March 10th, Hong Kong tech stocks experienced market speculation due to \"crawfish\" related products, with Tencent rising 7.27% and Alibaba rising 3.73%. The Hang Seng Index increased by 2.17%, and the Hang Seng Tech Index rose by 2.4%. Industry insiders believe that the improvement in market sentiment is related to the easing of geopolitical risks, and policy support for high-quality development and technological innovation will drive the market back to the tech mainline. Although the overall trend is positive, external risks and market volatility still need to be monitored" datetime: "2026-03-10T08:53:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278579901.md) - [en](https://longbridge.com/en/news/278579901.md) - [zh-HK](https://longbridge.com/zh-HK/news/278579901.md) --- # "Little Lobster" ignites Hong Kong tech stocks, Tencent surges over 7% ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OXl6dREuLL8AZCLRsPnPVoGBNKGYP_uMiBYvyrB8doxx8AA/1000?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On March 10, as the situation in Iran showed signs of easing, oil prices fell sharply, and market risk aversion significantly cooled, "small lobster" related products ignited Hong Kong tech stocks. Tencent Holdings (00700.HK) rose 7.27%, with a turnover of nearly HKD 37.5 billion. Alibaba (09988.HK) increased by 3.73%, with a turnover of HKD 13.06 billion. The Hang Seng Index rose 2.17%, closing at 25,960 points, with a turnover of HKD 330.9 billion, while the Hang Seng Tech Index rose 2.4%, with a turnover of HKD 77.9 billion. Regarding the rebound of Hong Kong tech stocks, industry insiders believe that companies like Tencent launching their own "small lobster" products have triggered market speculation, with some large model stocks reaching new highs; looking ahead, the market still faces geopolitical disturbances, and with the announcement of relevant corporate earnings and the certainty of policies, the market will gradually return to the logic of technology as the main line and asset revaluation. **Hang Seng Tech Rebound** According to Xinhua News Agency, the Islamic Revolutionary Guard Corps of Iran responded early on the 10th to U.S. President Trump's remarks about the situation in Iran, stating that the end of the conflict will be determined by Iran, after Trump indicated that "the U.S. conflict with Iran may end soon." "As an offshore market, Hong Kong stocks are particularly sensitive to changes in external risks." Lei Jun, General Manager of the Quantitative and Index Investment Department at Great Wall Fund, analyzed that the key factors suppressing Hong Kong stocks previously were overseas geopolitical situations and oil price disturbances. As these related risks ease, market confidence is restored, naturally driving a rebound in Hong Kong stocks, including the Hang Seng Tech Index. This rebound is not just a warming of sentiment but is also expected to reflect the market's return to the logic of technology as the main line and the revaluation of Chinese assets. Lei Jun also pointed out that recent policy statements regarding high-quality development, technological innovation, and expanding domestic demand have been very clear. The government's work report for 2026 set the GDP growth target at 4.5% to 5%, and clearly emphasized expanding consumption, promoting technological innovation, and cultivating future industries, which provides strong support for sentiment recovery in Hong Kong stocks, particularly in internet platforms, tech hardware, and new economy assets. Lei Jun also cautioned that even in a positive trend, it is necessary to remain clear-headed about risks—overseas geopolitics, domestic recovery pace, and funding disturbances could all bring about periodic fluctuations. In other words, the overall direction is positive, but there may still be fluctuations in pace. "It can be seen as a technical rebound for now." Wu Lixian, an international strategist at Everbright Securities, told First Financial reporters that due to geopolitical factors, Hong Kong stocks had previously fallen significantly, especially tech stocks which performed weakly. Currently, under the backdrop of the rebound in Hong Kong stocks, the rebound of tech stocks is relatively pronounced. Looking ahead, the situation in the Middle East remains to be observed, and the market may still fluctuate as a result, with sentiment towards tech stocks under the development of artificial intelligence (AI) likely to persist Li Zeming, Chief Investment Officer of Blue Water Capital Management Limited, stated that from a macro perspective, U.S. President Trump claims that the Middle East conflict can be resolved soon, and the G7 has measures to address high oil prices, including the possibility of releasing strategic reserves. Overall risk appetite is increasing, leading to a significant short-term drop in oil prices and a rebound in global stock markets. **"Lobster" Boost** The AI "Lobster" (OpenClaw, an AI agent that claims to "help you get things done," named after its lobster mascot) is making rapid progress in related industries. Internet companies like Tencent and Alibaba have launched related products, attracting market attention, and relevant stocks have seen significant increases. The "Lobster craze" sparked by OpenClaw is sweeping the nation, with multiple regions such as Shenzhen, Wuxi, and Changshu intensively introducing supportive policies and providing financial support for industry development. On the afternoon of March 10, Tencent's official account stated: "Today, Tencent's 'Lobster Task Force' has arrived. It supports general users, developers, and enterprise users to 'raise lobsters' with one click. This is not just a talking chat box, but an automated action agent with continuous memory and actual task execution capabilities." Li Zeming mentioned that Tencent and Alibaba, influenced by discussions around OpenClaw applications, have seen some local governments provide tax incentives or subsidies for startups, leading to an overall increase in market enthusiasm. With the emergence of AI agents like OpenClaw, the usage of large model computing power has significantly increased, with companies like Zhizhu (02513.HK) and MiniMax (00100.HK) reaching recent highs, and Tencent and Alibaba also benefiting from this trend. The current market believes Tencent is more aggressive in its layout in the AI agent field, which is one reason for the market's change in perception. Regarding the upcoming performance announcements, Li Zeming believes Tencent's game revenue growth will be good in the fourth quarter of 2025, with expected solid profit performance and stable contributions from enterprise services, advertising, and social media revenue. Alibaba may face some pressure in its performance, with new businesses such as same-city delivery and instant retail potentially facing losses, but the market had anticipated this, resulting in limited negative reactions. Wu Lixian stated that Tencent's performance has exceeded market expectations in several previous quarters, with surprises seen in the high growth rates of gaming and advertising businesses. Investors should pay attention to whether this quarter can continue to exceed expectations. Although Alibaba's overall performance data has not been impressive, its cloud business revenue is growing relatively quickly, which is a positive signal for the market. Overall, performance remains pessimistic under the continued drag of spending in the takeaway business. On March 18, Tencent will announce its fourth quarter and full-year results for 2025, and on the 19th, Alibaba will announce its third quarter results for fiscal year 2026 (fourth quarter of 2025). Guohai Securities expects Tencent Holdings to achieve operating revenue of 195.4 billion yuan in the fourth quarter of 2025, a year-on-year increase of 13%, with a non-International Financial Reporting Standards net profit attributable to shareholders of 65.1 billion yuan, a year-on-year increase of 18%. Guohai Securities also stated that it expects Alibaba to achieve total revenue of 291 billion yuan in the third quarter of fiscal year 2026, a year-on-year increase of 4% and a quarter-on-quarter increase of 17%, with adjusted earnings before interest, taxes, and amortization (EBITA) expected to decline by 47% year-on-year to 29.1 billion yuan (This article is from Yicai Global) ### Related Stocks - [03067.HK](https://longbridge.com/en/quote/03067.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) ## Related News & Research - [Musk Set to Launch XChat This Week and Challenge WeChat's Super App Status](https://longbridge.com/en/news/282544983.md) - [Russia sees China's WeChat, Douyin as models for its homegrown Max messenger](https://longbridge.com/en/news/282029812.md) - [J.P. 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