Mei Ri Jing Ji Xin Wen·2025-09-25 03:01Core Viewpoint - The Hong Kong stock market shows mixed performance, with the Hang Seng Tech Index experiencing a slight rebound, driven by positive news surrounding Alibaba, including its 2025 Cloud Conference and self-developed AI chips, leading to increased interest in AI-related stocks [1][2] Group 1: Market Performance - The Hang Seng Tech Index opened lower but turned positive, with significant gains in stocks like Hua Hong Semiconductor, SenseTime, Bilibili, Baidu, JD.com, and Xiaomi [1] - Alibaba's stock saw a peak increase of over 2%, although the gain narrowed later [1] Group 2: Capital Inflows - Southbound funds have been actively buying Alibaba shares, with a net purchase of HKD 5.339 billion on September 24, marking 24 consecutive trading days of net buying, totaling HKD 67.454 billion [1] - The recognition of Alibaba's AI narrative by investors has strengthened, as noted by Huaxi Securities [1] Group 3: Analyst Upgrades - Several foreign institutions have raised their target prices for Alibaba, with Citigroup increasing its target from USD 187 to USD 217, maintaining a buy rating [2] - Citigroup believes Alibaba is well-positioned to capitalize on the evolution of artificial intelligence, which is expected to drive sustainable growth in cloud business revenue and improve efficiency margins in the coming years [2] Group 4: Future Outlook - The 2025 Cloud Conference has sparked bullish sentiment, with expectations for the Hang Seng Tech Index to break upward again [2] - With the potential for a Federal Reserve interest rate cut and continued inflows from southbound funds, a revaluation of the Hang Seng Tech Index is anticipated [2] - Alibaba's stock price has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index at 9.36% [2]