Jin Rong Jie·2026-01-23 01:23Group 1 - The market sentiment has improved significantly due to the easing of overseas geopolitical conflicts and trade friction, with US stocks rising and Chinese concept stocks performing well, particularly the Nasdaq China Golden Dragon Index which increased by 1.58% [1] - Alibaba has decided to support its subsidiary, Pingtouge, in pursuing an independent IPO, which is expected to have significant implications for both Alibaba and the Chinese semiconductor industry [1] - The Hong Kong stock market has shown volatility, with the Hong Kong Internet ETF (513770) experiencing a slight decline of 0.18%, but it has seen a net inflow of 1.425 billion yuan over the past 20 days, indicating strong buying interest [1] Group 2 - The commercialization of AI applications is accelerating, with Hong Kong internet stocks positioned as core beneficiaries, expected to receive ongoing catalysts [3] - Alibaba's Qianwen has integrated into the Taobao ecosystem to create a one-stop AI service application, while Kuaishou's AI model has surpassed 12 million active users, and Meituan has upgraded its app with AI search capabilities [3] - Analysts suggest that AI applications will become a core theme in the 2026 market, with a focus on internet platform companies that have traffic entry advantages [3] Group 3 - The Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Internet Index, with Alibaba-W being the largest weighted stock at 14.71%, and the top ten weighted stocks collectively accounting for nearly 77% of the index [3][5] - For investors looking to reduce volatility while still gaining exposure to technology, the Hong Kong Large Cap 30 ETF (520560) is recommended, which combines high-growth tech stocks with stable dividend-paying companies [5]