The Hang Seng Index rose above 22000, driven by the rising trend of science and technology stocks such as Alibaba (09988.HK) and the Hong Kong Stock Exchange (00388.HK). The recent decline in commodity prices has undermined market expectations of the Fed's aggressive interest rate hike. The Dow and Nasdaq rose 2.7% and 3.3% respectively on Friday. Brad, president of the Federal Reserve Bank of St. Louis, supported an early rate hike and said it was too early to talk about the recession. At the time of writing, the yield on US 10-year Treasury bonds rose to 3.157 per cent, the US exchange rate index fell to 103.85, US stock Dow futures rose 133 points or 0.42 per cent, Nasdaq futures rose 0.7 per cent, and the Asian currency index rose 0.1 per cent to 102.89. The RMB immediately closed up 58 points at 6.6878 to 1 US dollar. The Shanghai Composite Index rose 29 points, or 0.9%, to close at 3379 points today, the Shenzhen Composite Index rose 1.1%, and the mainland gem index rose 0.2%, with a total turnover of nearly 1.23 trillion yuan on the Shanghai and Shenzhen stock markets. Chinese President Xi Jinping will attend the 25th anniversary meeting of Hong Kong's return to the motherland and the inauguration ceremony of the sixth government. Hong Kong stocks will rise steadily today. After opening 257 points higher, the Hang Seng Index expanded, rising 695 points to as high as 22414 points, up 510 points or 2.35% for the whole day to close at 22229 points, for three consecutive trading days (up 1221 points or 5.8%). The national index rose 187 points or 2.46% to close at 7816 points; and the Hang Seng Science and Technology Index rose 228 points or 4.71% to close at 5072 points. The total daily turnover in the market increased to 200.009 billion yuan, with a net inflow of 1.968 billion yuan and 4.451 billion yuan respectively for southbound transactions between Shanghai and Hong Kong. Alibaba's shares rose 3.7% throughout the day, while Xiaomi (01810.HK) played 12.4%. [big market turnover 200 billion HKEx shares are popular] HKEx shares jumped 6.9% to 400.2 yuan throughout the day. Credit Suisse issued a report that upgraded the investment rating of the HKEx from "neutral" to "outperform the market" and raised its target price from 352 yuan to 434 yuan. The bank pointed out that the average daily turnover of Hong Kong stocks since June was 145 billion yuan, an increase of 22% from 119 billion yuan in May, of which new economy stocks led the overall turnover to pick up. Under the influence of market fluctuations and the uncertainty of listing-related regulations, the Hong Kong IPO market has been relatively quiet since the beginning of the year. It is expected that the gradual improvement in the performance of the market and the implementation of listing regulations will help Hong Kong to attract more companies to list. China Securities Regulatory Commission (CSRC) announced last Friday (24) that traded open-end funds (ETF) are officially included in interconnection, and the official launch time will be announced separately. Morgan Stanley released a report arguing that the current framework is a key step in strengthening the connectivity infrastructure, but that it is necessary to expand its scope in the future to support increased trading volumes. [thousands of rising shares Tencent's share price is diluted against the market] The market width of Hong Kong stocks is good today, with a rise-fall ratio of 29 to 13 (25 to 16 on the previous day) and 1249 shares (up 3.2 per cent) on the main board. 62 stocks on the Hang Seng Index rose and 7 shares fell today, with a ratio of 90 to 10 (77 to 16 on the previous day). The market sold 34.906 billion yuan today, accounting for 19.395% of the turnover of 179.975 billion yuan of available shares (17.303% the day before). Tencent shares fell 1.6 per cent against the market to close at 378.2 yuan. Tencent announced at noon that its main shareholder Naspers and its subsidiary Prosus announced a long-term and open buyback plan to sell Naspers's Tencent shares in an orderly manner in order to raise funds for the buyback plan. Naspers said it expected that the number of shares sold each day would account for a small portion of the average daily turnover of Tencent shares, and that if Naspers implemented a buyback plan within the past three months in compliance with European regulatory restrictions, the average daily sales of Tencent shares would not exceed Tencent's average daily turnover of about 3 to 5 per cent. The board of directors and the board of Prosus are full of confidence in Tencent's long-term prospects, and the implementation of the buyback plan will lead Naspers to increase its exposure to Tencent on a per-share basis, and that Tencent has expressed support for Prosus to withdraw its voluntary restrictions on the sale of its Tencent shares.