Data from Huatai Securities reveals that between October 1st and 8th, the Hang Seng Index experienced a marginal decline of 0.1%, whereas the Hang Seng Tech Index posted a modest gain of 0.75%. Analyzing sectoral performance, industries such as steel, non-ferrous metals, and pharmaceuticals emerged as frontrunners, registering significant gains. Conversely, sectors like agriculture, forestry, animal husbandry, fisheries, real estate, and consumer services witnessed a downturn. Traditionally, Hong Kong stocks have been susceptible to heightened short-term volatility in the aftermath of holidays. Nevertheless, the events and data, both domestic and international, observed during the holiday break did not disrupt the mid-term market trajectory; instead, they served to bolster it. Key factors include: the escalating prominence of scarce and reliable assets; a persistent uptick in demand for cross-asset and cross-regional capital reallocation; a renewed emphasis on AI-related narratives; and the exceptional performance of experiential consumption.