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Market Overview - The Hong Kong stock market saw a collective rise in its three major indices on September 30, with the Hang Seng Technology Index increasing by 2.24% to close at 6465.66 points, marking a monthly gain of 13.95% [2][4] - The Hang Seng Index rose by 0.87% to 26855.56 points, while the Hang Seng China Enterprises Index increased by 1.07% [2] Sector Performance - Large technology stocks performed strongly, with Kuaishou's stock price rising by 7.22%, reaching a nearly three-year high [5] - Semiconductor stocks also showed significant gains, with Huahong Semiconductor experiencing a monthly increase of nearly 50% [4][13] - The international gold price reached a new high, leading to a surge in the metals sector [8] IPO Activity - Zijin Gold International had a remarkable debut on the Hong Kong Stock Exchange, with its stock price soaring nearly 70% on its first day, closing at 120.6 HKD per share, giving it a market capitalization of approximately 316.5 billion HKD [12] - The IPO was highly successful, with over 190 times subscription for the public offering, raising a total of 24.984 billion HKD [12] Future Outlook - Analysts from CITIC Securities believe that the current bull market for Hong Kong stocks, which began in the fourth quarter of last year, is in its mid-stage, with a generally loose liquidity cycle expected to continue for the next 1-2 years [4] - The valuation cycle for Hong Kong stocks has improved after a three-year bear market, and further recovery could lead to a potential 15% increase in the Hang Seng Technology Index if undervalued tech stocks are considered [4] - Goldman Sachs predicts that international gold prices could rise to 4000 USD per ounce by 2026 under a baseline scenario, with potential peaks of 4500 USD in extreme risk scenarios [11]