On July 8, Hang Seng Tech ETF rose 5.02% in regular trading, trading at 4.73 HKD/share, with turnover of HKD 355 million.
On the news front, market reports indicated that Alibaba's FY2027 Q1 earnings preview showed Alibaba Cloud's quarterly revenue growth accelerating to approximately 45%, exceeding market expectations. Meanwhile, Alibaba Cloud's EBITA margin improved from around 9.1% in prior quarters to low double digits, in line with the company's earlier guidance.
The broader Hong Kong internet sector is undergoing a valuation framework transition from a traditional consumer internet model to an AI-plus-cloud paradigm. The stronger-than-expected cloud business growth from tech leaders drove the Hang Seng Tech Index up nearly 5%, with leveraged Hang Seng Tech products surging over 9% on the same day. Among constituent stocks, Zhipu gained over 16%, Alibaba rose more than 12%, Kuaishou and Lenovo climbed over 8%, and Xiaomi advanced nearly 8%, reflecting broad-based capital inflows into the sector.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
