On February 21, China’s leading fresh beverage company Mixue Group (02097.HK) launched its IPO, with an entry fee of HKD 20,454.22. This release coincided with significant movements in the Hong Kong stock market, where major companies like Alibaba, Tencent, and BYD reached historical highs. This trend indicates that international investors are refocusing on China, increasing their investments in Chinese stocks and bonds.

(Source: Refinitiv)

The financial market is undergoing transformation, with the US stock market's “Seven Sisters” giving way to China’s emerging “Ten Giants.” This new classification highlights the rise of Chinese tech firms led by DeepSeek, with giants like Alibaba making substantial investments in AI. Recent reports show that stocks such as Alibaba, SMIC, Tencent, and BYD have all hit new highs in the Hong Kong market, while the Hang Seng Tech Index has risen approximately 30% since the beginning of the year. Analysts at Morgan Stanley noted that the Chinese stock market, particularly the offshore market, is experiencing structural changes, and they expect the upward trend to become more sustainable, primarily due to technological breakthroughs.

Among these giants, Alibaba stands out by shifting its focus from e-commerce to AI, further igniting global enthusiasm for the Chinese market. In the latest earnings call, Alibaba’s investments and strategies in AI became the main topic, with analysts showing strong interest in its future technology investments. As AI becomes Alibaba's new focus, the Hong Kong market is gradually becoming the main battlefield for the revaluation of Chinese tech assets. Some investment experts believe this may mean that China’s “Ten Giants” could become the new main players in the global market, suggesting that China is at the early stage of a new bull market, making contrarian investment in China an optimal choice.

Wall Street's optimism is not just verbal; substantial capital inflows also validate the positive outlook for the Chinese market. A report from the International Institute of Finance indicated that in January, foreign investors actively positioned themselves in Chinese assets, with net inflows exceeding $10 billion. This marks the first time foreign capital has simultaneously increased its stakes in both Chinese stocks and bonds. As Chinese tech companies begin to emerge on the global innovation stage, the journey of value discovery brought about by asset revaluation may be opening new narrative spaces. Global investors are starting to rethink whether the power dynamics in technology will be reshaped in the AI era.

How to Trade on uSMART

After logging into the uSMART HK APP, click on the search icon at the top right of the screen. Enter the stock code, such as "09988.HK" to access detailed information, trading history, and trends. Click the “Trade” button at the bottom right, select the “Buy/Sell” function, and submit your order after filling in the transaction conditions.

（Source: uSMART HK）