果然大涨！

Market Overview - The Hong Kong stock market showed strong performance on the first trading day of the fourth quarter, with the Hang Seng Index rising by 1.45% to 27,245.68 points, the Hang Seng China Enterprises Index increasing by 1.63% to 9,711.03 points, and the Hang Seng Tech Index climbing by 2.66% to 6,637.65 points [1][2]. Sector Performance - Semiconductor, non-ferrous metals, and biomedicine sectors led the gains, while real estate, durable consumer goods, and building materials sectors experienced fluctuations [2]. - Semiconductor stocks saw significant increases, with SMIC rising over 9% and Hua Hong Semiconductor up over 5% [7]. Gold Sector - Gold concept stocks in Hong Kong continued to rise, with China Silver Group increasing by over 32%, and Tianqi Lithium, Tongguan Gold, and Zijin Mining International all rising by over 10% [4][5]. - Goldman Sachs highlighted gold as a favored bullish commodity, predicting that gold prices could exceed their previous forecasts due to strong inflows into gold ETFs and increased interest from private investors. They expect gold prices to reach $4,000 per ounce by mid-2026 and $4,300 by the end of next year [6]. Alibaba's Stock Performance - Alibaba's stock saw a significant increase, rising over 4% to reach HKD 184 per share. JPMorgan raised its target price for Alibaba to HKD 240, citing growth in cloud computing and e-commerce as key drivers for higher valuation [9]. - Daiwa also raised its target price for Alibaba from HKD 180 to HKD 205, maintaining a "buy" rating, following insights from Alibaba Cloud's annual technology conference [9].