Group 1 - The Hong Kong stock market experienced a rapid rise on April 2, with the Hang Seng Index and Hang Seng Tech Index turning positive, the latter increasing by over 1% [1] - The Hong Kong Stock Connect Tech ETF (513860) saw a significant increase, rising over 1.1% at one point and closing with a gain of 0.97%, with a turnover rate exceeding 7% and a trading volume over 100 million [1] - Notable individual stocks included Li Auto, which rose over 8%, and Sunny Optical Technology and Geely Automobile, both increasing by over 5% [1] Group 2 - According to Wind Financial Terminal data, the Hong Kong Stock Connect Tech ETF (513860) had net inflows for 3 out of the last 5 days [3] - Southbound funds have aggressively purchased 160 billion HKD worth of stocks, particularly in the technology and consumer sectors, with a total net buy of 438.65 billion HKD year-to-date, surpassing half of last year's total net purchases [3] - In March, southbound funds recorded a net buy of 160.28 billion HKD, marking the third consecutive month with net purchases exceeding 100 billion HKD, the second-highest historical peak after January 2021 [3] Group 3 - West Securities reported that the breakthrough of DeepSeek technology diminishes the valuation monopoly of AI in the U.S., raising concerns about the U.S. economy due to tariffs imposed by Trump, leading to a shift in expected returns between China and the U.S. [4] - The Hang Seng Tech Index is currently trading at a lower price-to-earnings ratio compared to global tech stocks and is at a historical low for itself [4] - The emergence of DeepSeek positions Chinese technology firms as core competitors rather than mere followers, enhancing expectations for profitability [4]