On July 8, iShares Hang Seng TECH ETF (03067) rose 5.11% in regular trading, reaching HKD 9.985 with turnover of HKD 358 million, as the underlying Hang Seng Tech Index surged over 4% on multiple bullish catalysts.
On the news front, Alibaba Cloud's Q1 FY2027 revenue growth reportedly accelerated to approximately 45%, exceeding market expectations, while EBITA margins improved to low double digits. Simultaneously, OpenAI announced that GPT-5.6 versions SOL, TERRA, and LUNA will be publicly released this week, reigniting global AI sentiment. Alibaba surged as much as 10% intraday, its largest single-session gain since September 2025, directly lifting the index as its top weighted constituent.
Market analysts noted that the Hong Kong internet sector's valuation framework is shifting from traditional consumer internet metrics toward an AI-plus-cloud paradigm. Institutions highlighted that valuation bottom, improved liquidity, and AI narrative rotation are converging to drive a structural recovery window for Hong Kong tech stocks, with the Hang Seng Tech Index having rallied over 300 points since hitting its annual low on June 26.
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