Group 1 - The core viewpoint of the article highlights the significant surge in Hong Kong's technology sector, with Baidu's stock rising by nearly 20% and the Hang Seng Technology Index increasing by 4.3%, reaching a four-year high [1][3] - Alibaba's strong performance in AI infrastructure and its capital expenditure exceeding expectations have contributed to the revaluation of AI stocks, positively impacting its e-commerce business [3][4] - The self-developed AI chips narrative is gaining traction, with Alibaba and Baidu following Google's model of providing chips to other companies, thus generating additional revenue [4][6] Group 2 - Foreign capital is returning to the market, with global active funds underweighting Chinese stocks by 2.3%, while passive fund inflows are increasing, indicating a growing interest in internet stocks related to AI [6][9] - Southbound capital has seen a net purchase of approximately 1.1 trillion HKD this year, totaling nearly 4.8 trillion HKD [8] - The current bull market is driven by a dual mechanism of interest rate cuts in both the US and China, suggesting a potential for a prolonged and significant bull market [10][12] Group 3 - There is notable pressure from large funds on certain stocks, with significant sell orders observed in Citic Securities and Guotai Junan, indicating a cautious market sentiment [14][15] - The market is experiencing a volume of 35.9 billion HKD, with sectors like robotics, new energy, and chips seeing upward movement [17]