On March 17, Hong Kong's Hang Seng Index opened 0.4% higher, while the Hang Seng Tech Index rose 0.5%. Early in the trading session, the Hang Seng Tech Index quickly expanded its gain to 1%.

Technology and internet stocks collectively advanced. Li Auto surged more than 3%, while Tencent Music and NIO increased over 2%. XIAOMI-W, Meituan, SenseTime, TENCENT, and JD-SW each rose more than 1%.

Alibaba saw an increase of over 2%. On March 16, Alibaba formally established the Alibaba Token Hub (ATH) business group, creating a new organization with the core objectives of "creating tokens, transferring tokens, and applying tokens." The group is directly overseen by Alibaba CEO Eddie Wu. The Alibaba Token Hub includes the Tongyi Laboratory, the MaaS business line, the Qianwen Business Division, the Wukong Business Division, and the AI Innovation Business Division.

BRIGHT SMART surged more than 70%. On the evening of March 16, BRIGHT SMART announced that the tender offer initiated by Ant Group had received approval from relevant Chinese authorities and is expected to be completed on March 30. On April 25, 2025, Ant Group, through a subsidiary of Shanghai Yunjin Information Technology Co., Ltd., launched a tender offer for BRIGHT SMART at a price of HK$3.28 per share. The total number of shares to be acquired represents approximately 50.55% of BRIGHT SMART's total share capital, with the total transaction value amounting to HK$2.814 billion.