The Hang Seng Index rose 0.15%, gaining 37 points to 25,567, while the Hang Seng Tech Index advanced 0.34%. Total turnover for the morning session reached HKD 141.2 billion.

In the AI sector, valuation adjustments drove renewed interest. Moonshot AI's Kimi raised prices during its Series G round, while DeepSeek restarted fundraising, aiming to secure USD 8 billion at a valuation of USD 74 billion. Domestic AI models once again led gains in the tech space.

MINIMAX-W (00100) surged another 17.7%, with net northbound buying of nearly HKD 2.7 billion on its first day of stock connect eligibility, supported by a stepwise jump in its annualized recurring revenue (ARR).

Z.AI (02513) rose over 17.57%, as the AI model competition shifts toward comprehensive capabilities, with analysts expecting strong commercialisation momentum.

HQVT (01392) gained over 7%, benefiting from the trend of large models reducing reliance on high-performance servers, thereby lowering deployment costs for clients.

BIOCYTOGEN-B (02315) climbed 4% after forecasting a more than fourfold increase in attributable net profit for the first half of the year, driven by dual growth engines across its two main business lines.

GIGADEVICE (03986) saw both its A shares and H shares rise over 9%, following a contrarian increase in holdings by prominent investor Ge Weidong. The stock continues to benefit from a supply-demand imbalance in the memory chip market.

PACIFIC BASIN (02343) surged over 15%, reporting a first-half net profit attributable to shareholders of USD 105 million, a year-on-year increase of 310%.

MONGOL MINING (00975) advanced over 13%, anticipating a turnaround to profitability in the first half, with a comprehensive net profit exceeding USD 100 million.

FOSUN INTL (00656) added another 6%, forecasting a profit of HKD 1.5 billion to HKD 1.8 billion for the first half. Citigroup sees the positive earnings surprise as a catalyst for share price gains.

TRANSCENTA-B (06628) rose over 6% before noon, planning to sell its CDMO assets for HKD 190 million.

Eight major polysilicon producers signed an anti-internal-competition initiative, boosting the solar sector. XINTE ENERGY (01799) gained 10%, while GCL TECH (03800) rose 7.46%.

On the downside, MGM CHINA (02282) fell over 5%, as first-half net profit declined by 20% year-on-year, despite an interim dividend of HKD 0.25 per share.

WH GROUP (00288) dropped 3.65% after postponing its board meeting to August 28 to review interim results.