---
title: "The Hang Seng Index rose 2% on the first day of the second quarter, with pharmaceutical stocks surging and KNOWLEDGE ATLAS soaring by 30%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281338314.md"
description: "The Hang Seng Index rose 2% on the first day of the second quarter, closing at 25,294 points. The market's expectations for a possible end to the conflict between the U.S. and Iran drove Hong Kong stocks higher. Technology stocks performed strongly, with KNOWLEDGE ATLAS's share price soaring 31.9%, and the trading volume reaching HKD 4.981 billion. China International Capital Corporation (CICC) released a report stating that KNOWLEDGE ATLAS's performance in 2025 is expected to meet expectations, with revenue projected to grow by 132%"
datetime: "2026-04-01T09:15:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281338314.md)
  - [en](https://longbridge.com/en/news/281338314.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281338314.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281338314.md) | [繁體中文](https://longbridge.com/zh-HK/news/281338314.md)


# The Hang Seng Index rose 2% on the first day of the second quarter, with pharmaceutical stocks surging and KNOWLEDGE ATLAS soaring by 30%

The market anticipates that the United States and Iran may end hostilities, leading to a decline in international oil prices. The Hong Kong stock market rose on the first day of the second quarter. The Dow Jones and Nasdaq both increased by 2.5% and 3.8% respectively overnight. At the time of writing, the yield on the U.S. 2-year Treasury bond fell to 3.762%, and the yield on the U.S. 10-year Treasury bond dropped to 4.277%. The U.S. dollar index decreased to 99.52. The latest Dow futures rose by 218 points or 0.47%, and Nasdaq futures increased by 150 points or 0.6%. The Shanghai Composite Index rose by 56 points or 1.5% to close at 3,948 points, the Shenzhen Component Index increased by 1.7%, and the ChiNext Index rose by 2%. The total trading volume in the Shanghai and Shenzhen markets reached 2.01 trillion RMB.

The Hang Seng Index opened high at 569 points, once rising by 641 points to a peak of 25,429 points, and closed up 505 points or 2% at 25,294 points; the Hang Seng China Enterprises Index rose by 130 points or 1.6% to close at 8,504 points; the Hang Seng Tech Index increased by 106 points or 2.3% to close at 4,756 points. The total trading volume for the day was 291.421 billion HKD. The total trading volume from northbound trading was 128.141 billion HKD, while southbound funds saw a net outflow of 12.694 billion HKD (compared to a net inflow of 703 million HKD on the previous trading day).

【U.S.-Iran Ceasefire Hopes Boost KNOWLEDGE ATLAS by 30%】

Tech stocks generally performed well, with Tencent (00700.HK) and Kuaishou (01024.HK) rising by 2.6% and 2.4% respectively. Alibaba (09988.HK), Baidu (09888.HK), and NetEase (09999.HK) increased by 3.1% to 3.7%. Bilibili (09626.HK) and Dongfang Zhenxuan (01797.HK) surged by 7% and 10.5% respectively.

AI stocks soared, with MiniMax (00100.HK) rising by 14% to close at 1,060 HKD, and KNOWLEDGE ATLAS (02513.HK) soaring by 31.9% to close at 915 HKD, with a trading volume of 4.981 billion HKD. CICC released a report stating that KNOWLEDGE ATLAS's 2025 performance meets their expectations, with projected revenue of 724 million RMB, a year-on-year increase of 132%, and an adjusted net loss of 3.18 billion RMB. The company disclosed that as of March 2026, the API ARR (Annual Recurring Revenue of Application Programming Interface) for MaaS (Model as a Service) has reached 1.7 billion RMB, a year-on-year increase of 60 times. Due to "improved model intelligence levels + increased downstream demand," the growth trend of API ARR in 2026 significantly exceeds the expectations of the firm and the market.

【Short Selling Rate Rises, Pharmaceutical Stocks Surge】

The Hong Kong stock market showed improvement today, with 83 of the Hang Seng Index constituent stocks rising and 7 falling, resulting in a rise-to-fall ratio of 92 to 8 (compared to 52 to 47 the previous day); the market recorded short selling of 43.958 billion HKD, accounting for 24.511% of the trading volume of shortable stocks, which was 179.34 billion HKD Pharmaceutical stocks surged, with 3SBio (01530.HK), Junshi Biosciences (01877.HK), Kanglongda (03759.HK), Innovent Biologics (09969.HK), and Rongchang Biologics (09995.HK) rising by 9.6% to 15.2%. China National Pharmaceutical Group (01177.HK), Genscript Biotech (01548.HK), Kelun Pharmaceutical (06990.HK), Yinxin (09606.HK), and Luye Pharma (02186.HK) increased by 8% to 8.9%.

Spot gold prices rose back to the level of USD 4,700 per ounce, leading to gains in metal and resource stocks. China Silver (00815.HK), Zijin Mining (02899.HK), and Jiangxi Copper (00358.HK) rose by 5.1% to 5.9%, while China Gold International (02099.HK), Minmetals Resources (01208.HK), and Luoyang Molybdenum (03993.HK) increased by 7.7% to 8.6%. Lingbao (03330.HK) rose by 10.5%

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