On October 2, the Asia-Pacific market erupted across the board. The Korea Composite Stock Price Index (KOSPI) rose over 3% intraday, breaking through 3500 points for the first time in history, and the Nikkei Index once rose over 1%.

The Hang Seng Index and Hang Seng Tech Index collectively opened high and moved higher. As of the midday close, the Hang Seng Index rose 1.45%, and the Hang Seng Tech Index rose 2.66%. The Hang Seng Index hit a more than 4-year high intraday, and the Hang Seng Tech Index also approached a 4-year high.

The FTSE China A50 Index futures once rose over 1%.

The semiconductor chip sector continued its upward trend, with SMIC rising over 9%, followed by Hua Hong Semiconductor, Shanghai Fudan, and Hongguang Semiconductor.

On the news front, the memory chip market is experiencing a wave of price increases. After inventory adjustments in the first quarter of this year, the memory industry has entered a recovery channel, and capacity migration by major upstream manufacturers has further triggered a new round of price increases.

As manufacturers like Micron and Samsung successively announced production cuts for DDR4 and LPDDR4, shifting most capacity to DDR5 and LPDDR5, the terminal storage market, represented by mobile phones, is facing structural tightness. Manufacturers like SanDisk recently issued price increase letters, further fueling market enthusiasm (for details, see).

In the non-ferrous metals sector, the Wind Hong Kong Non-ferrous Metals Index rose 4.72%. China Silver Group surged 32.08%, Tianqi Lithium rose 13%, while Zijin Mining International, Tongguan Gold, and others rose over 12%.

On the news front, international precious metal prices continued their upward trend recently. On October 1, spot gold once broke through the $3895 mark during the day; spot silver broke through $47 at the end of September, setting a new high since May 2011; international copper prices began a sharp rally influenced by an accident at the world's second-largest copper mine in September (for details, see: Copper Prices Soar, Global Rush for Copper Mode Begins).

Bank of America recently warned that gold is tactically in an "overbought" state. BoA currently gives gold a bullish rating, indicating it expects gold prices to continue rising.

Deutsche Bank also raised its 2026 gold price forecast by $300 to $4000 per ounce.

In the internet technology sector, several popular stocks strengthened. Kuaishou-W rose 6.65%, Baidu Group-SW rose 4.5%, and Alibaba Group-W rose 3.95%.

Recently, JPMorgan Chase significantly raised its target price for Alibaba's Hong Kong stock to HK$240, stating that growth in its cloud computing and e-commerce businesses is expected to support a higher valuation.

Guotai Haitong stated that under the current wave of AI-led upward technology cycles, the scarce Hong Kong stock technology assets have superior fundamentals, attracting continuous inflows of incremental funds.

Western Securities pointed out that it continues to be optimistic about technological self-sufficiency in the domestic AI computing power chain and the sustained prosperity of the overseas chain. It advises paying attention to investment opportunities in the Apple supply chain brought by changes in AI end-side hardware, and to the value revaluation of Hong Kong-listed tech companies. The market trend is not over yet, and it continues to recommend Hong Kong stocks in internet/electronics semiconductors/innovative drugs/robotics/media, etc.