Core Insights - Alibaba has formed a small team focused on robotics and embodied intelligence, led by Lin Junyang, who is responsible for the Tongyi Qianwen large language model [1] - The transition of multimodal foundational models into foundational agents is highlighted, emphasizing their capability to utilize tools and memory for long-horizon reasoning through reinforcement learning [1] - The statement suggests that these agents should evolve from virtual environments into the physical world, indicating a strategic direction for the company [1]

Core Viewpoint - The Hong Kong stock market is experiencing fluctuations, with the Hang Seng Index showing a slight increase of 0.37%. Key tech stocks like Alibaba and Meituan are performing actively, while others like Xiaomi and Kuaishou are seeing slight declines [1]. Group 1: Market Performance - The Hong Kong Internet ETF (513770) opened with three consecutive gains, reaching a historical high before experiencing a pullback, indicating a shift to a consolidation phase [3]. - The Hong Kong Internet ETF has outperformed the Hang Seng Tech Index by over 15 percentage points in terms of cumulative gains and maximum gains since the beginning of the year [7]. Group 2: Future Outlook - Historical data shows that the Hang Seng Index has experienced five complete bull and bear cycles since 2003, with an average bull market duration of 32 months and an average cumulative increase of 111%. The current cycle, which started in January 2024, has seen a 55% increase so far, suggesting further upward potential [5]. - The valuation of Hong Kong tech stocks remains attractive compared to US and A-share tech stocks, with the latest PE ratio of the underlying index of the Hong Kong Internet ETF at 25.55 times, lower than the historical average of 32.46% for the Hang Seng Tech Index [5]. - Major internet companies are making significant progress in AI, which is becoming a key driver for sustained growth. For instance, Alibaba's PPU chip is competitive with Nvidia's H20 chip, and S&P Global has partnered with Alibaba Cloud to introduce AI-ready data into China [5]. Group 3: Analyst Sentiment - International investment banks are increasingly optimistic about major internet companies, with Goldman Sachs raising Alibaba's target price based on expected growth in Alibaba Cloud, projecting a growth rate of 30% to 32% for the fiscal year 2026 [6]. - Citigroup anticipates that Tencent will leverage its AI capabilities to enhance core business monetization, which could accelerate revenue growth from cloud and business services [6]. - The supply of chips and model iterations are critical for accelerating cloud computing, serving as catalysts for the revaluation of the internet sector under the AI narrative [6].

Core Insights - The Hong Kong technology sector is experiencing a positive trend, with the Hang Seng Tech Index rising by 0.7% as of 11:20 AM, and the E Fund Hang Seng Tech ETF (513010) recording a trading volume exceeding 1.2 billion yuan [1] - The E Fund Hang Seng Tech ETF has seen net inflows for 17 consecutive trading days, totaling over 3 billion yuan [1] - Kuaishou's subsidiary, Keling AI, has launched a new digital human feature that allows users to create 1080p/48FPS digital human videos up to one minute long using a character image and a text or audio input [1] - S&P Global has announced a strategic partnership with Alibaba Cloud to introduce AI-ready data for commodities into China, which will integrate seamlessly with Alibaba Cloud's analytical services and AI engine, including the Tongyi Qianwen large language model [1] - The continuous advancements in AI by major internet companies indicate a growing investment value in the Hong Kong technology sector [1] - The Hang Seng Tech Index comprises the 30 largest stocks related to technology themes listed in Hong Kong, including major players like Alibaba, Tencent, Meituan, and Kuaishou [1] - The E Fund Hang Seng Tech ETF (513010) tracks this index, providing investors with a streamlined way to invest in leading technology firms in Hong Kong [1]

Group 1 - The Hang Seng Index opened up 0.14% and the Hang Seng Tech Index opened up 0.44%, with the largest ETF in the same sector, 513180, following the index's rise, driven by stocks like SMIC, Hua Hong Semiconductor, NIO, Lenovo Group, and JD Group showing significant gains [1] - The Hong Kong stock market experienced an overall adjustment, with the three major indices retreating after an initial rise, as the Federal Reserve's interest rate cut expectations did not exceed market expectations, leading some funds to take profits [1] - On September 18, southbound funds continued to show a net buying trend, with a total net purchase amount of HKD 6.288 billion, indicating ongoing interest in internet stocks like Meituan and Alibaba [1] Group 2 - AI applications are advancing in Hong Kong's internet sector, with Kuaishou's Keling AI launching a new digital human feature that generates high-quality videos from images and text or audio [1] - S&P Global announced a strategic partnership with Alibaba Cloud to introduce AI-ready data into China, which will integrate seamlessly with Alibaba Cloud's analytical services and AI engines, enhancing the narrative around AI in the Hang Seng Tech sector [1] - The competition between Alibaba and Baidu in self-developed chips is intensifying, fueled by the AI boom, suggesting a potential upward breakthrough for the Hang Seng Tech Index [2]

每经AI快讯，9月18日，标普全球宣布与阿里巴巴集团旗下科技公司阿里云达成战略合作，首次将标普 全球大宗商品的AI就绪数据引入中国。自8月31日起，中国客户可通过阿里云对象存储服务，更直接地 访问涵盖能源、金属、化工和农业等领域的大宗商品数据集。该数据可无缝对接阿里云的分析服务与 AI引擎，包括通义千问大语言模型。 （文章来源：每日经济新闻） ...