Smart Finance app learned that net tech stocks started low in the morning, continued to rise, driving the Hang Seng Tech Index up by over 4% again. As of the time of writing, Meituan-W(03690) rose by 3.8%, to 212.8 Hong Kong dollars; Alibaba-W(09988) rose by 3.45%, to 113.8 Hong Kong dollars; Tencent(00700) rose by 2.53%, to 478 Hong Kong dollars; Baidu Group-SW(09888) rose by 1.01%, to 109.9 Hong Kong dollars.

On the news front, on Thursday, a new ETF DRAG named 'Chinese Dragon' tracking the performance of large Chinese companies landed on the US market, with its current components including Tencent, Pinduoduo, Alibaba, Meituan, BYD, Xiaomi, JD.com, Baidu, and NetEase. Roundhill Investment Company stated that at the time of its launch, these nine super-large tech companies have shown competitive advantages in terms of economies of scale, robust fundamentals, and evident growth outperforming their peers. This ETF will be rebalanced quarterly.

Huaan Securities pointed out that in the second quarter, the performance of the internet sector continued to verify its operational resilience, benefiting from macroeconomic expectations recovery; stable policy expectations, continuous connectivity between different sectors, are expected to help internet companies make up for their shortcomings, further improving operational efficiency; internet companies continue to increase shareholder returns through repurchases and dividends; actively deploying in the generative AI field, fully leveraging technological advantages, expected to benefit from big model opportunities, and kick off a new product cycle.