HK Stock Market Move | SaaS concept stocks lead gains; three giants call for slowing down AI; concerns about AI disrupting software continue to ease.

SaaS concept stocks lead gains. As of press time, KINGDEE INT'L (00268) rose 4.72% to HK$7.875; CHINASOFT INT'L (00354) rose 3.85% to HK$3.775; KINGSOFT (03888) rose 3.71% to HK$25.16; MARKETINGFORCE (02556) rose 2.87% to HK$53.7. On the news front, Anthropic CEO Dario called for the world to slow down the pace of iterative upgrades in AI technology, so that risk prevention capabilities can keep up with the speed of technological advancement. OpenAI CEO Altman and SpaceX founder Musk both expressed agreement. Overnight, US software stocks rose, with ServiceNow, Salesforce and others among the top gainers. Analysts said that as the pessimistic endgame scenario surrounding AI-driven software disruption continues to ease, Salesforce and ServiceNow may increasingly attract longer-duration GARP/value investors. Citi released a research report stating that after reviewing the Q2 and H1 results of 11 China IT services and software companies under its coverage, more than half performed better than or in line with expectations, with the industry showing clear divergence. Citi said AI revenue is gradually shifting from concept-driven to actual financial contribution, and AI monetization among industry leaders has begun to materialize. However, it emphasized that industry divergence is significant.