2 1 Shi Ji Jing Ji Bao Dao·2025-09-12 02:33Group 1 - The Hong Kong stock market opened strongly on September 12, with Alibaba rising nearly 7% and Tencent increasing over 3% [1] - The Nasdaq Golden Dragon Index surged nearly 3% on September 11, with Alibaba closing up 8% and Baidu up 3.92% [1] - Alibaba's new open-source model Qwen3-Next was released, emphasizing high training and inference cost-effectiveness, contributing to its stock price increase [1] Group 2 - Tencent's Q2 earnings report showed a 20% year-on-year increase in marketing services revenue, attributed to AI-driven advertising platform optimization [2] - Alibaba's cloud intelligence group reported revenue of 33.398 billion yuan, with a growth rate of 26%, driven by accelerated public cloud business revenue [2] - AI-related product revenue for Alibaba has maintained triple-digit growth for eight consecutive quarters, accounting for over 20% of external commercialization revenue in Q2 [2] Group 3 - The earnings forecast rate for Hong Kong stocks is at its highest since 2022, with a focus on the technology and internet sectors [3] - The current price-to-earnings ratio (PE-TTM) for the Hong Kong Technology 50 ETF is 23.33, indicating that its valuation level is below 70% of the time over the past five years [3]