Today, the A-shares market is still closed, but the performance of Hong Kong and US stocks is very hot. Especially Hong Kong stocks, with the three major indices opening higher and rising strongly, the scene is quite fierce.

The Hang Seng Tech Index is truly impressive—during the trading session, it once increased by over 3%, fully showing the leadership momentum. The Hang Seng Index also didn't lag behind, rising by 2%. Which sectors are leading the charge? Chips, semiconductors, AI artificial intelligence, and internet technology stocks are all in the red. All three BAT companies are rising, with Baidu showing the strongest increase; Huahong Semiconductor is even more aggressive, soaring over 11%; the robotics sector's Sanhua Intelligent Controls also rose by 5%.

But this wave of gains didn't come out of nowhere. Today's market is actually the result of two forces colliding—on one side is the profit effect from the "super new stock listing," and on the other side is the heavy positive macro news.

First, about the new stocks. Hong Kong's first GPU stock, Bairen Technology, just listed today and was immediately driven by capital. It surged 82% at the open, with intraday gains once exceeding 110%, and its market value approached 100 billion HKD. Although it pulled back somewhat later, it still closed up 86%, with a market value firmly above 800 billion. This "first-day doubling" profit effect instantly ignited the enthusiasm of the entire market—investors' confidence in hard tech and semiconductors skyrocketed, directly driving a reshaping of the valuation of the tech sector.

On the other side, the surge in Chinese semiconductor stocks (such as SMIC) was also helped by a major geopolitical news released last night and this morning—following Samsung and SK Hynix, the U.S. government officially approved TSMC's related business adjustments. What does this mean? It signals a temporary "relaxation" of geopolitical restrictions, breaking the market's pessimistic expectations about the supply chain.