Hong Kong stocks open higher and continue to rise, with the Hang Seng Tech Index's gain expanding to 4%

Hong Kong stocks opened higher and continued to rise. As of the time of writing, the Hang Seng Index increased by 2.8%, and the Hang Seng Tech Index rose by 4%.

Technology stocks generally gained, with NetEase up over 4%, JD.com, Kuaishou, and Meituan up 3%, Alibaba and Xiaomi Group up more than 2%. Chip stocks strengthened, with Huahong Semiconductor up 4% and SMIC up over 3%.

The optical communications concept stocks in Hong Kong strengthened. As of the time of writing, Long Fiber Optical Cable (06869.HK) rose 17%, HuiJu Technology (01729.HK) increased 6%, and Cambridge Technology (06166.HK) gained 4%.

The non-ferrous metals concept stocks in Hong Kong also strengthened. As of the time of writing, Minmetals Resources and Lingbao Gold rose 7%, China Gold International increased over 5%, Shandong Gold, Zijin Gold International, and Zijin Mining rose over 4%, and LaoPu Gold gained 3%. On the news front, spot and futures gold and silver prices surged, with gold prices surpassing $5,100.

As of the time of writing, Zhipu (02513.HK) fell 13%, having dropped as much as 21% in the morning; MINIMAX-WP (00100.HK) declined 8%. On the news front, Zhipu issued an apology letter on February 21 regarding the revision of the GLM Coding Plan and announced handling and compensation plans.