HUALIBA@EC2603A(16241.HK)

According to the All-Day Express, the Hang Seng Index rose by 361 points; the Hang Seng TECH Index rose by 28 points. China Life rose by over 5%. China Life, AIA, HSBC, China Hongqiao, and WH Group reached new highs with active trading

The Hang Seng Index closed at 27,126 points, up 361 points or 1.4%. The Hang Seng TECH Index reported 5,754 points, up 28 points or 0.5%. The total market turnover was HKD 254.373 billion. China Life, AIA, HSBC, CHINAHONGQIAO, and WH GROUP all reached new highs with active trading. Among the active blue-chip stocks, Alibaba rose 2.8%, Ping An rose 2.3%, and Tencent rose 1.3%. Among small and medium-sized stocks, ZONQING LTD rose 21.3%

The Dark Side of the Moon open-source Kimi K2.5 model introduces "Agent Cluster" capability for the first time to enhance efficiency

The AI startup supported by Alibaba, Dark Side of the Moon, has released the Kimi K2.5 model, which introduces "Agent Cluster" capabilities for the first time, improving efficiency by 10 to 100 times. The K2.5 supports multimodal input and has launched the programming tool Kimi Code, which can seamlessly integrate with mainstream editors. The company completed a $500 million financing round last month, reaching a valuation of $4.3 billion, and is now initiating a new round of financing with a target valuation of $5 billion

Hong Kong stocks related to AIGC continue to rise, MINIMAX-WP up over 21%, KINGSOFT CLOUD up nearly 10%, KNOWLEDGE ATLAS up 4.5%, Alibaba up nearly 3%

Hong Kong stock market intraday | Hang Seng Index up 1.32%, gold sector performs strongly, MINIMAX rises 20% in the afternoon

The three major indices of the Hong Kong stock market rose across the board, with the Hang Seng Index and the Technology Index breaking through resistance at their recent highs, indicating strong short-term rebound momentum in the market. The gold sector strengthened overall due to safe-haven demand, while the retail sector continued to face pressure. Market trading focused on high growth and innovative technology sectors, with ADICON HOLDINGS, MINIMAX-WP, and FULLSHARE significantly surging during the session, showing notable movements in leading stocks. Funds favored technology as the main line and defensive stocks like gold, resulting in overall active market sentiment

The "Outsider" of the Red Envelope War

During the Spring Festival, internet companies launched various red envelope activities to attract users, but Alibaba's Tongyi Qianwen chose to quietly release its flagship model Qwen3-Max-Thinking. Industry experts point out that the competitive logic in the AI era is different from that of the mobile internet; user retention no longer relies on subsidies but on the intelligence level of the model. The release of Qwen3-Max-Thinking marks a deeper level of competition for China's large models, emphasizing the importance of intellectual density