The Hang Seng Index advanced by 2.29%, gaining 604 points to reach 27,017 points. The Hang Seng Tech Index increased by 3.32%. Trading volume in the Hong Kong stock market during the morning session reached HK$106.5 billion. Stocks related to optical communication concepts were among the top performers. Key enterprises in the Optical Valley maintained operations during the Spring Festival, with orders for AI high-speed optical modules scheduled through the fourth quarter. Changfei Optical Fiber & Cable (06869) rose by 15.77%; Converge Technology (01729) gained over 5%; Cambridge Technology (06166) increased by 7%. Walch Nuclear Material (09981) advanced by 6.96% after being added to the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect lists, with total demand for high-speed copper cables experiencing rapid growth.
The precious metals sector also moved higher. International Gold Group (03939) surged over 6% to reach a new historical high, with full-year net profit expected to increase by up to 160% year-on-year; Zijin Gold International (02259) climbed over 7%. Technology stocks saw a broad-based recovery. Meituan-W (03690) rose over 6%, as institutions suggested AI investment may be entering the second half of an industrial trend. Alibaba-W (09988) gained over 3.5%, with Alibaba Cloud adding support for four programming models including Qwen3.5-Plus and launching a low-cost subscription plan. Hua Hong Semiconductor (01347) increased over 4%, as analysts believe the company's new 12-inch wafer fab, Fab9A, will reach peak capacity this year. Biren Technology (06082) jumped over 8%, having completed adaptation for several leading domestic AI large language models. Kingboard Laminates (01888) rose nearly 5% to a new high, with full-year net profit expected to exceed HK$2.39 billion, representing a year-on-year increase of over 80%.
Lithium stocks showed strength during the session. Ganfeng Lithium (01772) advanced over 8% after UBS significantly raised its forecast for domestic lithium prices. Harbour BioMed-B (02142) increased over 5% as its next-generation CTLA-4 antibody goes global, with a potential total deal value exceeding $1.2 billion. Xunce (03317) surged over 9% to a new high, with expectations of inclusion in the Hong Kong Stock Connect next month, leading to a reassessment of the strategic value of its data circulation business.
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