HK Stock Market Move | SaaS concept stocks skyrocket across the board, with the performance of the US software sector proving the falsification of AI narrative. Valuation repair elasticity fully unleashed.

Concept stocks of SaaS surged across the board. As of the time of publication, INSPUR DIGI ENT (00596) rose 24.32% to HK$4.14; KINGDEE INT'L (00268) rose 18.16% to HK$8.59; MARKETINGFORCE (02556) rose 13.73% to HK$40.76; Zhong Ruan International (00354) rose 11.89% to HK$4.14; and WEIMOB INC (02013) rose 10.32% to HK$1.39. On the news front, influenced by the extremely pessimistic expectations dominated by the "AI swallowing theory", the software index IGV 2026 Q1 once pulled back by 30%. Last week, the performances and guidance of AI Infra companies such as Snowflake, MongoDB, and Okta continued to exceed expectations. Snowflake's stock price rose by 48.4% in a week, Okta rose by 33.6%, driving IGV to rise by 8% in the week. Sinolink pointed out that in May, the performances of software companies such as Snowflake, MongoDB, and Salesforce exceeded expectations across the board. The market is beginning to reassess the beneficiary logic of software companies in the AI era. The software sector has seen a strong rebound, with IGV rising by over 21% in a single month, marking its best monthly performance since October 2001. The narrative of performance refuting the swallowing story, the full release of valuation repair elasticity.