U.S. stocks surged significantly last Friday as Federal Reserve Chair Powell's remarks hinted at substantially increased chances of interest rate cuts, driving the market notably higher with all three major indices closing with significant gains. The U.S. dollar weakened, the 10-year Treasury yield fell back to the 4.25% level, gold prices performed well, and oil prices moved higher.

Hong Kong's three major indices opened collectively higher today, with the Hang Seng Index rising 1.06% to 25,606.88 points, the Hang Seng Tech Index gaining 1.49%, and the H-shares Index up 1.07%. Across the board, technology stocks rose across the board, with Baidu, JD.com, and Alibaba gaining over 2%, Bilibili and Kuaishou up 2%, and Tencent Holdings rising over 1%. AI concept stocks showed strength, with GDS Holdings surging over 4%. Stablecoin concept stocks opened higher, with China Renaissance Holdings jumping over 14%. New energy vehicle stocks continued their upward momentum, with NIO Inc. rising nearly 15%. Gold stocks moved higher, with Chifeng Jilong Gold Mining gaining over 3%. Innovative drug concepts generally rose, with Kelun-Biotech surging over 3%.