港股，集体大涨！

Core Viewpoint - Alibaba's stock surged by 18.50% following its earnings report, contributing to a significant increase in the Hang Seng Technology Index and related ETFs [5][10]. Market Performance - On September 1, major Hong Kong indices experienced substantial gains: Hang Seng Index rose by 2.15% to 25,617.42 points, Hang Seng Technology Index increased by 2.20% to 5,798.96 points, and Hang Seng China Enterprises Index climbed by 1.95% to 9,121.87 points [2][3]. - The total market turnover reached HKD 380.2 billion, with net inflows from southbound funds amounting to HKD 11.942 billion [2]. Alibaba's Financial Results - Alibaba reported total revenue of CNY 247.65 billion, a year-on-year increase of 2%, and a net profit of CNY 42.382 billion, up 76% [7]. - The company's instant retail business generated revenue of CNY 14.784 billion, reflecting a 12% year-on-year growth, with daily peak orders reaching 120 million and monthly active users at 300 million, a 200% increase since April [7]. - Alibaba's AI business showed strong performance, with cloud intelligence revenue of CNY 33.398 billion, up 26% year-on-year [7]. Analyst Insights - Morgan Stanley upgraded Alibaba's target price from USD 150 to USD 165, citing its position as "China's best AI enabler" and the expected acceleration of its cloud business growth driven by AI [7]. - The firm anticipates that Alibaba Cloud's growth will accelerate from 26% in the first fiscal quarter to over 30% in the second quarter, with AI-related revenue constituting over 20% of total cloud revenue [7]. ETF Activity - Following Alibaba's earnings report, the Southbound Hang Seng Technology ETF saw a trading volume exceeding HKD 157.47 billion, with a peak half-day turnover surpassing HKD 100 billion [9][11]. - Other notable ETFs included the Tracker Fund of Hong Kong and various Southbound ETFs, reflecting strong market interest in technology stocks [10]. Sector Performance - The healthcare sector saw significant rebounds, with notable gains in stocks such as MicroPort Medical (+21.97%) and WuXi Biologics (+8.37%) [3]. - Gold stocks also performed well, with Zijin Mining rising by 7.74%, driven by market concerns over the independence of the Federal Reserve and increasing expectations for interest rate cuts [16].