Mei Ri Jing Ji Xin Wen·2025-09-24 05:37Core Insights - The Hong Kong stock market saw a collective rise in its three major indices, with the Hang Seng Tech Index increasing by nearly 2%, driven by significant gains in stocks like Alibaba, which rose over 7% during the session [2][3] Company Developments - Alibaba's CEO, Wu Yongming, announced at the 2025 Cloud Summit that achieving Artificial General Intelligence (AGI) is a certainty, with the ultimate goal being the development of Super Artificial Intelligence (ASI) that can self-iterate and surpass human capabilities [2] - Alibaba is actively investing in AI infrastructure, with plans to allocate 380 billion yuan, expecting a tenfold increase in energy consumption at its global data centers by 2032 compared to 2022 [2] - The Qwen team at Alibaba released three significant models: Qwen3Guard (a security review model), Qwen3-Max (the largest and most powerful model to date, comparable to OpenAI's GPT-5-Chat), and Qwen3-VL (the strongest visual language model in the Qwen series) [2] Market Activity - Following the announcements from Alibaba, there has been a surge in interest in Hong Kong's tech sector, with southbound funds actively purchasing Alibaba shares, totaling a net buy of 16.73 billion HKD on September 23, and a cumulative net buy of 621.16 billion HKD over 23 consecutive trading days [3] - Cathie Wood's Ark Investment Management invested approximately 21 million USD in Chinese tech stocks, including Alibaba, with a notable transaction involving the purchase of 99,090 shares of Alibaba, valued at over 16 million USD [3] - The outlook for the Hang Seng Tech Index remains positive, with expectations of continued inflows from southbound funds and a potential revaluation of tech stocks driven by AI narratives [3]