Hang Seng Nears 26,000 as Alibaba Surges 2%; AI Stocks in Focus
SingTao · 2 SOURCESabout 2 hours ago2 MIN
Summary
The Hang Seng Index opened at 25,998 on Tuesday, climbing 61 points from the previous close as it approached the closely watched 26,000 level . Middle East tensions continued to support oil prices, with Brent crude trading above $87 per barrel, while US equity benchmarks ended Monday slightly lower amid inflation data anticipation . The tech sector dominated Hong Kong trading, with Alibaba rising 2.13% and AI-related names including ZhiPu and TVB posting significant gains on new business developments .
Key Points
- Hang Seng Index opened at 25,998, up 61 points, with the psychologically important 26,000 level within reach
- Alibaba (9988) shares climbed 2.13% at opening, emerging as a top performer among tech giants
- Tencent (700) and JD (9618) are scheduled to release earnings on Wednesday and Thursday respectively
- ZhiPu (2513) reported 7 million registered users on its MaaS open platform, including 23,000 enterprise clients
- TVB (511) surged 7% after announcing a joint venture with Gaw Capital affiliate Triton Square to provide AI computing services in Hong Kong
- Southbound trading recorded a net inflow of HK$2.021 billion on Monday
- Brent crude oil rose 0.05% to $87.76 per barrel amid Iran-US tensions over the Strait of Hormuz
Why It Matters
The convergence of a potential 26,000-level breakout on the Hang Seng Index, combined with the upcoming earnings reports from Tencent and JD, positions this week as a pivotal period for Hong Kong's tech sector . The surge in AI-related stocks like TVB and ZhiPu signals growing investor appetite for artificial intelligence infrastructure in the Greater Bay Area, with the TVB-Triton Square joint venture targeting AI computing services from Television House by late 2027 .