On the morning of August 14, the Hong Kong stock market opened slightly higher, with the Hang Seng Index reaching a new yearly high. As of press time, the Hang Seng Index rose 0.60% to a high of 25,766 points, while the Hang Seng Tech Index gained 0.69% to 5,669 points.

Among key stocks, Tencent Holdings surged to HK$600 in early trading, breaking through this key psychological level for the first time in four years. The move followed the company's Q2 earnings release the previous evening. The report showed quarterly revenue of RMB 184.5 billion, up 15% year-on-year, with operating profit rising 18% to RMB 69.25 billion. For the first half of 2025, revenue grew 14% to RMB 364.526 billion, while non-IFRS profit attributable to equity holders increased 16% to RMB 124.381 billion.

Amid solid growth in core businesses, Tencent continued ramping up AI investments: Q2 R&D spending grew 17% YoY to RMB 20.25 billion, while capital expenditures surged 119% to RMB 19.11 billion.

Elsewhere, most tech stocks rose, with Bilibili, Meituan, Xiaomi, and Kuaishou up over 1%. Cryptocurrency-related stocks opened higher, with BlueCity Holdings jumping 14%. Biotech concepts extended gains, with BeiGene rising 3%. Domestic brokerages advanced, with Guolian Minsheng up 1%. Gold stocks opened strong, with Tongguan Gold climbing 2%. Auto stocks were active, with Geely Auto gaining 1%.

Among cross-border ETFs, the S&P Biotech ETF rose over 2%, while Hong Kong Connect Non-Bank Financial ETF, Financial ETF, and Biotech ETF all gained over 1%.