The Hang Seng Index opened 0.23% higher today, while the Hang Seng Tech Index gained 0.55%.

The semiconductor sector showed strength in early trading, with Montage Technology Co.,Ltd. (HKG: 06809) rising over 5%. Other notable gainers in the sector included GigaDevice Semiconductor Inc. (SHG: 603986) up over 4%, Semiconductor Manufacturing International Corporation (HKG: 0981) advancing nearly 3%, and Huahong Grace Semiconductor Manufacturing Corporation (HKG: 1347) climbing more than 2%.

Regarding the outlook for Hong Kong stocks, analysts have expressed mixed views. Some suggest that while short-term volatility is expected to increase, a technical rebound could follow once pessimism bottoms out. However, a more sustained trend reversal may require fundamental catalysts, which could be validated during the upcoming second-quarter earnings season. On the liquidity front, the market's ability to absorb selling pressure from upcoming share lock-up expiries for several new listings will be tested. The key to short-term liquidity recovery will be whether southbound and foreign capital can form a combined net inflow.

In the smartphone sector, the foldable screen segment is identified as a significant direction for structural innovation. It is currently entering a phase of accelerated commercialization, driven by technological maturity, cost reductions, and anticipated market entry by major players. Apple (NASDAQ: AAPL) is projected to launch its first foldable product around 2026. Leveraging its vast premium user base, this move is expected to boost market acceptance of the foldable category and drive demand growth across its supply chain. Key areas to watch within the foldable screen supply chain include Ultra-Thin Glass (UTG), hinges, and Metal Injection Molding (MIM) structural components.

Separately, the sports industry is highlighted as a potential leader in the modern service sector. The positive social externalities from major sporting events in recent years have demonstrated the feasibility of stimulating economic vitality and promoting consumption through new models like event economy, ticket economy, and launch economy. The presence of numerous mature international events has cultivated a large pool of potential customers domestically, suggesting a promising opportunity for the growth of China's event economy. Investors are advised to pay attention to listed companies related to the sports industry chain.