HK Stock Market Move | Technology stocks across the board are rebounding, MEITUAN-W(03690) rose over 5%. Institutions say that AI investment is expected to enter the industry trend's second half.

09:41 23/02/2026

The technology sector is rebounding across the board, as of the time of writing, Meituan-W (03690) rose 5.14% to 84.9 Hong Kong dollars; JD.com Group-SW (09618) rose 3.56% to 107.5 Hong Kong dollars; Alibaba-W (09988) rose 2.65% to 151 Hong Kong dollars; Kuaishou-W (01024) rose 2.63% to 68.25 Hong Kong dollars; Tencent (00700) rose 2.01% to 532.5 Hong Kong dollars.

Chinese internet stocks rebound across the board. As of the time of writing, MEITUAN-W(03690) rose by 5.14% to 84.9 Hong Kong dollars; JD-SW(09618) rose by 3.56% to 107.5 Hong Kong dollars; BABA-W(09988) rose by 2.65% to 151 Hong Kong dollars; KUAISHOU-W(01024) rose by 2.63% to 68.25 Hong Kong dollars; TENCENT(00700) rose by 2.01% to 532.5 Hong Kong dollars. On the news side, Alibaba's Alibaba Cloud announced the open source of the new generation Qwen3.5-Plus large model, with API prices as low as 0.8 RMB per million Tokens. CCB International released a research report stating that the current AI trend has not shown obvious signs of a bubble, and AI investments are expected to enter the second half of the industry trend by 2026. Open source securities, on the other hand, highlighted the commercialization of AI and the expansion of application scenarios; with the continuous improvement of open source model capabilities, the demand for AI cloud is expected to continue to be verified, AI applications are expected to drive continuous growth in inference demand, domestic AI chip market is growing rapidly, Kunlun chip officially launched the process of listing in Hong Kong, recommending BABA-W, Pinduoduo, BIDU-SW, and benefiting assets TENCENT.

Goldman Sachs: Recent violent fluctuations in gold prices suggest that central banks in various countries may temporarily slow down their demand for gold.

HK Stock Market Move | KB LAMINATES (01888) rose nearly 7% to a record high, with an expected full-year net profit exceeding HK$2.39 billion, representing a year-on-year growth of over 80%.

HK Stock Market Move | Lithium stocks strengthened during the trading day, with Ganfeng Lithium Group (01772)rising more than 8%. UBS significantly raised its forecast for domestic lithium prices.

Goldman Sachs: Recent violent fluctuations in gold prices suggest that central banks in various countries may temporarily slow down their demand for gold.

HK Stock Market Move | KB LAMINATES (01888) rose nearly 7% to a record high, with an expected full-year net profit exceeding HK$2.39 billion, representing a year-on-year growth of over 80%.

HK Stock Market Move | Lithium stocks strengthened during the trading day, with Ganfeng Lithium Group (01772)rising more than 8%. UBS significantly raised its forecast for domestic lithium prices.