HK Stock Market Move | Technology stocks rose across the board in early trading, with JD-SW (09618) up over 7% and BABA-W (09988) up over 6%.

In early trading, tech stocks surged, driving the Hang Seng Technology Index up over 3%. At the time of writing, JD-SW (09618) rose 7.36% to 157.5 Hong Kong dollars; BABA-W (09988) rose 6.32% to 85.85 Hong Kong dollars; BIDU-SW (09888) rose 4.45% to 82.15 Hong Kong dollars; KUAISHOU-W (01024) rose 3.56% to 42.2 Hong Kong dollars. On the news front, on January 17, the Nasdaq China Golden Dragon Index soared over 3%. Industrial pointed out that now is a good time for "tears to sow seeds" and bargain hunting in the Hong Kong stock market. After late January, the overseas factors suppressing the Chinese stock market are expected to turn around. With Trump's inauguration, the short-term impacts of the long-term interest rates of US bonds and the strengthening of the US dollar are expected to subside as the negative news fades. On the contrary, China's loose monetary policy may strengthen, increasing the attractiveness of Chinese assets. In addition, the "annual report season" is approaching, focusing on changes in fundamentals and the opportunity for reevaluation brought about by increased dividend ratios. Citigroup previously stated that the valuation of the Chinese internet sector is reasonable and the quality of growth continues to improve, but it is still closely related to the pace of macroeconomic and consumption recovery.