On September 22, Hong Kong stocks opened slightly lower in early trading. As of press time, the Hang Seng Index opened at 26,459.52 points, down 85.58 points or 0.32%; the Hang Seng Tech Index opened at 6,251.88 points, down 42.54 points or 0.68%.

BYD Company Limited responded to reports regarding Berkshire Hathaway's complete divestment of the company's shares. Recent reports indicated that Berkshire Hathaway had fully divested its holdings in BYD shares. Li Yunfei, General Manager of BYD Group's Public Relations Department, responded by stating that in August 2022, Berkshire began gradually reducing its holdings in company shares purchased in 2008, and by June of last year (2024), its shareholding had already fallen below 5%. Stock investment involves both buying and selling, which is very normal. We thank Munger and Buffett for their recognition of BYD, and appreciate the 17 years of investment, assistance, and companionship, giving praise to all long-term believers.

Shan Gao Holdings (00412.HK) issued an announcement stating that after reasonable inquiry, the board confirmed that apart from the matters described in the announcement regarding highly concentrated shareholding released on September 18, no reasons were found that could cause abnormal changes in share price and trading volume. The board also stated that the group's business operations remain normal, with no significant changes in business operations and financial condition. The announcement reminded shareholders and potential investors to exercise caution when trading shares. This morning, Shan Gao Holdings opened nearly 15% higher at HK$3.86.

In other developments, technology stocks generally declined, with NetEase-S (09999.HK) falling over 1% and Alibaba-W (09988.HK) down nearly 1%; innovative drug concepts opened higher, with Innocare (09969.HK) rising over 3%; gold stocks generally gained, with Chifeng Jilong Gold Mining (06693.HK) up over 4%; auto stocks were active, with NIO-SW (09866.HK) rising over 3%; Chinese securities firms mostly opened higher, with GUOLIAN Securities (01456.HK) up over 1%.

Market Outlook:

A research report indicates that AI remains the main theme in the Hong Kong stock market, with Hong Kong internet stocks still expected to be the most benefited sector. Non-ferrous metals benefit from the dual positive factors of liquidity easing from interest rate cuts and rising inflation expectations. From a fundamental perspective, AI cloud business maintains high growth rates. In the second quarter, strong AI demand from domestic cloud vendors drove accelerated revenue growth, with private enterprise cloud service revenue growth exceeding state-owned telecom companies for the first time in four years. Self-developed chips have become a new catalyst for AI giants recently, and the market is gradually showing characteristics of "emphasizing models over applications." From an overseas perspective, Broadcom and Oracle's financial results verified AI's continued high prosperity, and overseas mapping still exists.