Rumors of Tencent’s WeChat AI assistant sparked a rally in tech stocks; Hang Seng Index surged 640 points in a single day. With gold prices stabilizing, investors may consider ChinaAMC Digital Gold ETF.

Reports briefly emerged that U.S.-Iran negotiations had hit a snag, but Trump quickly clarified on social media that talks were still progressing rapidly, driving the three major U.S. indices to new record highs overnight. Hong Kong stocks opened slightly lower by 3 points this morning before quickly turning upward. Bolstered by multiple positive catalysts, the tech sector extended its gains throughout the day, peaking at a 646-point increase near market close. The Hang Seng Index ultimately settled near the session high at 26,038 points, up 640 points or 2.5%, marking its third consecutive gain and reclaiming the 10-day, 20-day, 50-day, and 250-day moving averages in one go. Total market turnover reached HK$373.8 billion. The Hang Seng China Enterprises Index closed at 8,762 points, up 255 points or 3%. The Hang Seng Tech Index ended at 5,199 points, gaining 234 points or 4.7%. Southbound capital recorded net inflows for the fourth straight day, totaling RMB 2.2 billion today.

Reports indicate that Tencent (0700) $TENCENT (00700.HK)$ is set to launch an AI assistant within WeChat, with functionalities spanning instant messaging, social media, ride-hailing, and payments, potentially as early as this month. The news directly fueled a sharp rally in its share price, which surged HK$45.6 or 10.46% to close at HK$481.6, making it the best-performing blue chip of the day. Led by Tencent, other tech stocks also strengthened significantly. Meituan (3690) $MEITUAN-W (03690.HK)$ reported year-over-year revenue growth of 5.6%, exceeding expectations, and narrowed its quarterly loss by over RMB 10 billion compared to the previous quarter. Following the earnings release, Daiwa and Citi raised their target prices, sending the stock up HK$7.25 or 9.27% to close at HK$85.5; JD.com (9618) $JD-SW (09618.HK)$ Orders placed within the first 52 hours of the '618' shopping festival hit a record high in terms of user numbers; the stock rose HK$7.70 or 6.85%, closing at HK$120.10; Alibaba (9988 $BABA-W (09988.HK)$ ) More than 40,000 brands on Tmall saw their sales double during the initial phase of the 618 event; the stock rose HK$8.10 or 6.6%, closing at HK$130.90; Kuaishou (1024) $KUAISHOU-W (01024.HK)$ rose HK$2.44 or 5.24%, closing at HK$48.98; Baidu (9888 $BIDU-SW (09888.HK)$ ) rose HK$5.60 or 4.34%, closing at HK$134.70; Xiaomi (1810 $XIAOMI-W (01810.HK)$ ) rose HK$0.90 or 3.13%, closing at HK$29.62.

Auto stocks benefited as major automakers successively released their May delivery figures, with the sector generally performing well. BYD (1211 $BYD COMPANY (01211.HK)$ ) reported May wholesale volumes above market expectations, rising HK$6.00 or 6.61%, closing at HK$96.75; XPeng (9868 $XPENG-W (09868.HK)$ ) rose HK$4.20 or 6.19%, closing at HK$72.00; Li Auto (2015) $LI AUTO-W (02015.HK)$ rose HK$3.35 or 5.72%, closing at HK$61.90; Nio (9866) $NIO-SW (09866.HK)$ rose HK$3.78 or 8.34%, closing at HK$49.12; Geely (0175) $GEELY AUTO (00175.HK)$ fell 0.15 HKD or 0.79% against the market trend; CATL (3750) $CATL (03750.HK)$ rose 26 HKD or 3.45%, closing at 779.5 HKD, hitting a record high.

The humanoid robot sector also showed strength, as mainland China's robotics leader Unitree Robotics passed the STAR Market listing hearing and will collaborate with NVIDIA to develop a 1.8-meter-tall humanoid robot. Ubtech Robotics (9880) $UBTECH ROBOTICS (09880.HK)$ gained nearly 7%, closing at 114.3 HKD; Horizonrobot (9660) $HORIZONROBOT-W (09660.HK)$ rose 0.09 HKD or 1.66%, closing at 5.52 HKD. NVIDIA’s major COMPUTEX announcement once again boosted Lenovo-related stocks. Lenovo (0992) $LENOVO GROUP (00992.HK)$ received an upgraded price target from Macquarie, rising 1.34 HKD or 5.31%, closing at 26.58 HKD; Legend Holdings (3396) $LEGENDHOLDING (03396.HK)$ rose 1.71 HKD or 10.35%, closing at 18.23 HKD. NVIDIA’s launch of Alpamayo 2 Super 51SIM is also expected to benefit from the next wave of intelligent driving industry upgrades. 51WORLD (6651 $51WORLD (06651.HK)$ ) surged 22.15 HKD or 22.48%, closing at 120.7 HKD.

Li Ning (2331) $LI NING (02331.HK)$ announced a long-term endorsement deal with NBA star Stephen Curry. The stock initially jumped over 4%, but the news failed to sustain momentum, ending the day down 0.53 HKD or 2.8%, closing at 18.37 HKD; Laopu Gold (6181) $LAOPU GOLD (06181.HK)$ Citi sharply cut its price target to HK$700 and lowered earnings forecasts, citing weak sales performance during the 618 shopping festival. The stock fell HK$16, or 2.95%, closing at HK$527, making it the worst-performing blue chip of the day.

AI large-model stocks generally weakened today, including Zhipu AI (2513), which plans to list on the STAR Market in China. $KNOWLEDGE ATLAS (02513.HK)$ Zhipu AI initially rose before falling, ending the day down HK$54, or 3.68%, at HK$1,413; MiniMax (0100) $MINIMAX-W (00100.HK)$ fell HK$40.5, or 5.72%, closing at HK$667.5; XunCe (3317 $XUNCE (03317.HK)$ ) dropped HK$11.2, or 5.68%, closing at HK$185.9.

Domestic fiber optic prices have returned to historic highs. Some institutions noted that supply-side preform production remains in a shortage situation, as preform output is growing slower than fiber capacity. Meanwhile, demand-side drivers include AI data centers, recovering overseas telecom markets, and fiber-optic drones, boosting optical communication stocks. Yangtze Optical Fibre and Cable (6869) $YOFC (06869.HK)$ rose HK$22.6, or 10.75%, closing at HK$232.8; Tongda Group (1300) $TRIGIANT (01300.HK)$ gained HK$0.34, or 9%, closing at HK$4.1.

Resource stocks rebounded along with the broader market, with Zijin Mining (2899) $ZIJIN MINING (02899.HK)$ up HK$1.68, or 5.13%, closing at HK$34.44; CMOC (3993) $CMOC (03993.HK)$ Up by HK$1.01 or 5.46%, closing at HK$19.51.

International gold prices stabilized further today, with spot gold trading sideways in the range of USD 4,526 to USD 4,530 per ounce, up approximately 1% on the day, primarily driven by developments in the Middle East. U.S.-Iran ceasefire negotiations remain stalled and volatile, pushing oil prices briefly close to USD 98 and reigniting market concerns over inflation, which supports gold’s safe-haven appeal. Although gold prices have pulled back more than 20% from their record high above USD 5,500 seen earlier this year and are technically in a correction phase, analysts broadly still recognize gold’s medium- to long-term allocation value, underpinned by sustained central bank buying, elevated geopolitical risks, and uncertainty surrounding the Federal Reserve's interest rate hike expectations.

Investors looking to allocate to gold as a risk diversifier under current market conditions may consider China Asset Management Digital Gold ETF (3418), which was listed on the Hong Kong Stock Exchange on the 29th of last month. $ChinaAMC Digital Gold ETF (03418.HK)$ This ETF is Hong Kong’s first fully tokenized physical gold ETF, employing a full physical replication strategy by directly holding LBMA Good Delivery–accredited gold bars stored in institutional-grade vaults in Hong Kong, fully insured at 100%. It tracks the LBMA Gold Price AM (London Gold Morning Benchmark). The physical gold is custodied and digitally tokenized by Standard Chartered Bank, with no exposure to futures or derivatives, offering a lower entry barrier compared to traditional gold investments. Investors should note that the ETF does not pay dividends, and as a newly listed product, it has limited trading volume and historical performance data. Its short-term price movements are highly sensitive to gold price volatility, USD trends, and geopolitical news, while its long-term performance hinges on the trajectory of gold prices. It is suitable for investors seeking low-threshold exposure to physical gold as a hedge against inflation or geopolitical risks.

@孫子的末代傳人 @中戶變大戶小牛變大牛 @股海GSO

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