Group 1 - The Hong Kong stock market experienced a collective rise, with the Hang Seng Index increasing by 1.18% and the Hang Seng Tech Index rising by 1.85% as of May 14 [1] - The Hang Seng Tech ETF (513580) saw a gain of 1.69%, with a year-to-date increase of 16.75% from January 2 to May 13, while the Hang Seng Internet ETF (159688) rose by 1.33% with a year-to-date increase of 14.67% during the same period [1] Group 2 - Recent positive developments in the tech sector include the announcement from the State Council Tariff Commission regarding adjustments to tariffs on imports from the U.S., effective from May 14, 2025 [2] - JD Group reported a 52.73% year-on-year increase in net profit for Q1 2025, with attention on the GMV scale as the 618 shopping festival approaches, projecting a GMV of approximately 4.5 trillion yuan for 2024 [2] - The market for AI agents is expanding, with major companies like Microsoft, Google, Salesforce, Zoom, Baidu, Alibaba, Tencent, and ByteDance increasing their investments in AI commercialization [2] Group 3 - Open Source Securities noted that the Hang Seng Tech Index is currently outperforming the U.S. tech giants, despite concerns about potential negative impacts from U.S. market downturns [3] - China’s stock assets have shown a decrease in correlation with U.S. stocks and bonds over the past year, suggesting a more favorable investment environment for domestic stocks [3] - CICC's report indicates that domestic internet company valuations have improved due to the AI wave, while external tariff changes have led to a valuation pullback, suggesting that the domestic internet sector remains in a reasonable low valuation range with a safety margin [3]