HK Stock Market Move | Technology stocks rose in the afternoon, and concerns about the competition in the food delivery industry may be excessive. The lifting of the H20 ban will help eliminate uncertainties in capital expenditure.

In the afternoon, tech stocks saw an expanded increase, as of the time of writing, KUAISHOU-W (01024) rose by 6.8% to 77.7 Hong Kong dollars; BIDU-SW (09888) rose by 5.8% to 93.05 Hong Kong dollars; Tencent (00700) rose by 4.28% to 548.5 Hong Kong dollars; MEITUAN-W (03690) rose by 3.26% to 133.2 Hong Kong dollars; BABA-W (09988) rose by 2.63% to 121.1 Hong Kong dollars. On the news front, on July 18th, according to CCTV News, the State Administration for Market Regulation held talks with three platform companies, including Ele.me, Meituan, and JD, calling for rational competition. CMSC pointed out that the competitive landscape is overly worried about, and it is expected that the future e-commerce industry and the profits of various companies will stabilize and rise, highlighting the systemic revaluation of e-commerce valuations. Huatai expressed that in the intersection of economic recovery and valuation cost-effectiveness, the Hong Kong technology sector accounts for nearly 1/3 of the entire Hong Kong stock market, and focuses on the third round of Chinese asset revaluation driven by technology revaluation. In addition, on July 14th, NVIDIA's official website announced that NVIDIA will resume sales of H20 chips in China and launch a completely new compliant Chinese special version GPU. Guosen pointed out that the resumption of H20 supply solves the current shortage of domestic AI GPUs, significantly reducing the time and trial-and-error costs between hardware investment and actual use, accelerating the adoption of large models and applications by domestic companies, benefiting cloud vendors and downstream demand growth, and driving down uncertainty in domestic Internet companies' Capex and potentially returning to an upward trend.