Hong Kong's stock market kicked off the Year of the Snake with mixed fortunes. The Hang Seng Index commenced trading at 20,048.87 points, marking a 0.87% decline. Similarly, the Hang Seng TECH Index opened at 4,699.47 points, registering a 0.51% fall. Notably, Alibaba shined brightly, posting a 4.8% surge in its share price and announcing the launch of its large language model, Qwen2.5. Xiaomi Group, SMIC, and Hua Hong Semiconductor also recorded share price gains exceeding 1%. On the flip side, Bilibili's share price took a hit, falling over 5%, while JD.com slipped by nearly 3%.
