Mei Ri Jing Ji Xin Wen·2025-10-02 04:49Market Overview - The Hong Kong stock market experienced a significant rally on October 2, with the Hang Seng Index rising over 400 points, surpassing the 27,000 mark, closing at 27,245 points, a 1.45% increase [1] - The Hang Seng China Enterprises Index increased by 1.63% to 9,711 points, while the Hang Seng Tech Index surged by 2.66% to 6,637.65 points [1] Sector Performance - Leading sectors included gold, semiconductors, information technology, and biomedicine, while real estate and food & beverage sectors lagged [2] - The FTSE China A50 Index futures rose by over 1% during the session [2] Individual Stocks - Tencent Holdings saw its stock price rise over 3% at the beginning of the day, reaching a four-and-a-half-year high, and closed up 2.34% at 678.5 HKD per share, with a market capitalization of 6.21 trillion HKD [4] - Southbound funds significantly increased their holdings in Tencent, buying a total of 2.93 million shares from September 26 to September 30, bringing their total holdings to 1.012 billion shares, representing 11.03% of the total issued shares [4] - CICC maintained a target price of 700 HKD per share for Tencent, citing advancements in its mixed Yuan 3D 3.0 model, which has tripled modeling accuracy compared to its predecessor [4] - Semiconductor stocks, including SMIC, saw a rise of 9.30%, with a share price of 86.95 HKD and a market cap of 695.57 billion HKD [5] - Tianqi Lithium experienced a surge of 13.04%, reaching 50.8 HKD per share, with a total increase of over 30% in the last five trading days [7] - The Hong Kong Semiconductor Index rose over 6%, with a peak increase of over 7% during the session [9] Industry Insights - The global memory chip market is experiencing a new wave of price increases driven by supply-demand imbalances, technological advancements, and geopolitical factors, with institutions optimistic about the industry's outlook over the next two years [11] - Morgan Stanley predicts a "super cycle" for the memory chip industry due to expected supply-demand imbalances in the coming year, particularly in the HBM product segment, which is anticipated to see exponential growth [11] - The global HBM market size is projected to grow from 3 billion USD in 2023 to 53 billion USD by 2027 [11] External Market Influence - Foreign capital is reportedly flowing back into the South Korean stock market, contributing to a significant rise in the KOSPI index, which surpassed 3,500 points for the first time [13] - Semiconductor stocks in South Korea, such as SK Hynix and Samsung Electronics, saw substantial gains, influenced by expectations of interest rate cuts by the Federal Reserve and breakthroughs in AI technology [13]