Group 1 - The Hong Kong stock market experienced a significant drop in the Hang Seng Tech Index, which fell by 3.37% at one point, with major internet companies like Kuaishou, Bilibili, Baidu, Tencent, and Alibaba seeing declines of over 6% [1][3] - The decline in tech stocks was triggered by rumors regarding adjustments to the recognition of high-tech enterprises and related tax policies in China, which have circulated since 2019 without any concrete implementation [3] - Huachuang Securities believes that the rumors are an over-interpretation without solid evidence, and that increasing taxes on internet companies would contradict the current policy aimed at promoting consumption [3] Group 2 - As of January 30, 2026, the Hang Seng Index's price-to-earnings (PE) ratio is at 12.47 times, which is in the 82nd percentile since 2010, while the price-to-book (PB) ratio is at 1.27 times, in the 63rd percentile since 2010 [3] - Galaxy Securities indicates that the tech sector remains a long-term investment focus, with multiple favorable factors such as price increases in the supply chain, domestic substitution, and accelerated AI applications expected to drive upward momentum [3] - Guangfa Securities suggests that the current global dollar cycle is peaking and receding, with the RMB entering a mild appreciation phase, creating a favorable re-pricing window for Chinese equity assets [3]

恒生科技指数跌超1%，明星科网股跌幅居前，百度(09888.HK)、快手(01024.HK)双双跌超4%。 本文源自：金融界AI电报 ...

Core Insights - The gaming industry is witnessing a significant influx of new titles, with 124 games either launched or in testing in Q1 2026, of which 84.7% have obtained approval numbers [1][44] - A notable trend is the migration of 21 games from the Steam platform to mobile, indicating a shift towards innovative gameplay and artistic styles that may rejuvenate the mobile gaming market [1][44] - Several new games have shown promising market performance, including "Survival 33 Days," "Crazy Water World," "Goose Duck," "Counterattack: Future," and "Arknights: End of the World," which have all achieved strong rankings in various app stores [6][10][15][17] Game Launches and Performance - Five standout games have performed well at the start of 2026, with "Survival 33 Days" leading the charge, achieving top rankings on both WeChat and Douyin mini-game platforms shortly after launch [6][8] - "Crazy Water World," a survival simulation game, has also maintained a strong presence in the top 10 of mini-game rankings and is showing upward momentum in the iOS charts [10][11] - "Goose Duck," a social deduction game, has rapidly gained a large user base, surpassing 1 million users within six days of its mobile launch [13] - "Counterattack: Future," a PvE shooter, has successfully positioned itself within the top 20 of the iOS game rankings shortly after its release [15] - "Arknights: End of the World," a strategy RPG, has also made a strong debut, reaching the top ranks in the iOS charts [17] Upcoming Titles and Trends - The upcoming quarter is set to feature several high-potential titles, including Tencent's "Kingdom of Rock," NetEase's "Forgotten Sea," and FunPlus's "Imo," all of which are expected to enter testing soon [19][30] - The trend of porting games from PC to mobile is gaining traction, with complex genres like SOC and Roguelike also being adapted for mobile platforms, indicating a broader acceptance of diverse gameplay styles in the mobile market [44][48] - The industry is experiencing a renewed sense of optimism, with the potential for quality products to thrive despite challenges, suggesting a possible turnaround in market sentiment [47]

Group 1: Hang Seng Index (HSI) - The Hang Seng Index experienced a significant pullback after reaching a recent high of 28,000 points, closing around 27,300 points on January 30, with a decrease in trading volume compared to previous days but still at a relatively high level [2] - Investors are divided on the market outlook, with some viewing the pullback as a buying opportunity, while others are cautious about short-term volatility and are considering bear certificates [2] - Technical indicators show a bearish short-term signal with 9 sell signals and 6 buy signals, suggesting market sentiment is under pressure [2] Group 2: Contemporary Amperex Technology Co., Limited (CATL) - On January 30, CATL's stock price rose against the market trend, closing at 491 HKD, approaching the 500 HKD mark, with increased trading volume but still below the high levels seen in November [9] - Investors are focused on whether CATL can break through the 500 HKD level, with some looking at call options with a strike price of 629.38 HKD [9] - Technical indicators are neutral, with no clear direction for price movement, and resistance levels are set at 511 HKD and 520 HKD if the 500 HKD mark is surpassed [9] Group 3: Kuaishou Technology (Kuaishou) - Kuaishou's stock price adjusted to close at 80.15 HKD, maintaining the 80 HKD support level, with discussions on the potential to challenge the 90 HKD mark [15] - Technical indicators show a slight advantage for sell signals, indicating upward pressure, with resistance at 84.5 HKD and further at 86.8 HKD [15] - Investors interested in Kuaishou's bull certificates are advised to select products with a redemption price around 70 HKD or lower to mitigate risks [16] Group 4: Zijin Mining Group Co., Ltd. - Zijin Mining's stock price saw significant volatility, closing at 41.9 HKD, with a trading volume reaching a two-month high, indicating a technical pullback [22] - Investors remain optimistic about Zijin Mining, considering the recent drop as a short-term correction, with 38 HKD being a potential entry point [22] - Technical indicators show a slight predominance of sell signals, with key support at 38.5 HKD and further support at 36.3 HKD [22] Group 5: BYD Company Limited - BYD's stock price recorded a notable decline, closing at 97.75 HKD, having fallen below the middle line of the Bollinger Bands [28] - Technical indicators suggest a short-term support level at 94.6 HKD, with further support at 91.3 HKD, and resistance at 101.5 HKD [28] - Investors looking to position in BYD's bear certificates are recommended to choose products with a redemption price above 105 HKD to avoid risks associated with price rebounds [28] Group 6: AIA Group Limited - AIA's stock price fluctuated moderately, closing at 90.35 HKD, above the upper line of the Bollinger Bands, with increased trading volume [35] - Investors are optimistic about AIA's potential to challenge the 100 HKD mark, with technical indicators showing a slight predominance of sell signals [35] - Resistance levels are set at 92.6 HKD and 96.8 HKD, which need to be surpassed for a potential move towards the 100 HKD level [35]

直播间里，蛋蛋团队通过镜头向全国网友讲述兴安盟的生态与品牌故事，将黑孕育、净水灌溉、科技赋能的故事娓娓道来，让消费者直观感受产品价值。 这种"风土+品质" 的双重背书，推动两款产品快速突破销量。 此次直播是政企协同助农的又一成功实践，通过对接快手头部资源，不仅让优质农产直接触达亿万消费者，更省去中间环节，实现"消费者得实惠、农牧 民增收益"的双赢。下一步，兴安盟商务口岸局将持续深化与快手等平台的战略合作，争取更多专场直播与流量倾斜，推动兴安盟大米、林果等特色产业 与电商深度融合，让更多"草原好物"借数字东风助力乡村振兴。 供稿/敖思思 一审/孙天航 二审/郭佳佳 三审/鞠 乐 此次兴安好物"登陆"头部直播间是政企协同的精准成果。1月26日，由内蒙古自治区商务厅指导，快手电商主办的"丰收中国"系列IP活动在呼和浩特启 动，同步开展内蒙古网上年货节快手双选会。作为快手2026年重磅推出的助农IP，"丰收中国"以"达人绑定+产地直连"模式助力地方经济，首站聚焦内蒙 古优质物产。兴安盟商务口岸局精准把握契机，组织4家本土重点企业参会，与蛋蛋团队面对面洽谈合作，最终促成两款核心产品入选专场直播。 编辑/刘 磊 1月30 ...

Market Overview - On February 2, the market experienced fluctuations with all three major indices falling over 2%, and the Sci-Tech 50 index dropping over 3%. The Shanghai Composite Index closed down 2.48%, the Shenzhen Component Index down 2.69%, and the ChiNext Index down 2.46% [1] - The total trading volume in A-shares was 2.61 trillion yuan, a decrease of 255.83 billion yuan compared to the previous trading day. Over 4,700 stocks in the market declined, with 125 stocks hitting the daily limit down [1] Sector Performance - The liquor sector showed resilience, with Huangtai Liquor achieving three consecutive trading limits, and Jinhuijiu hitting two limits in three days. Water Well Liquor also reached the daily limit up [3] - Conversely, the non-ferrous metals, oil and gas, chemicals, coal, and semiconductor sectors faced significant declines. The non-ferrous metals sector was particularly hard hit, with multiple gold stocks such as Zhaojin Gold and Sichuan Gold experiencing limit downs [3][5] - The oil and gas sector also suffered, with domestic crude oil and fuel futures contracts hitting the limit down, both dropping approximately 7%. Brent crude oil futures fell to $66 per barrel, down 4.67%, while WTI crude oil futures dropped below $62 per barrel, down 4.94% [5][6] Hong Kong Market - The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Technology Index expanding its losses to 4% in the afternoon. The Hang Seng Index closed down 2.23%, and the Hang Seng Technology Index fell 3.36% [6][7] - The precious metals sector in Hong Kong also faced significant losses, with stocks like Shandong Gold and Chifeng Jilong Gold dropping over 12% [7] - The three major telecom operators in China collectively weakened, with China Unicom down over 6%, China Telecom down over 5%, and China Mobile down over 2%. This was influenced by an adjustment in the value-added tax rate for telecom services from 6% to 9%, which will impact the revenue and profits of these companies [7]

每经编辑｜程鹏 宋思艰 2月2日收盘，市场全天震荡调整，三大指数均跌超2%，科创50指数跌超3%。截至收盘，沪指跌2.48%，深成指跌2.69%，创业板指跌2.46%。A股成交额 2.61万亿元，较上一个交易日缩量2558.29亿元。盘面上，全市场超4700只个股下跌，其中125只个股跌停。 从板块来看，白酒概念反复活跃，皇台酒业3连板，金徽酒3天2板，水井坊触及涨停。电网设备概念逆势走强，汉缆股份、白云电器、三变科技、保变电 气等多股涨停。下跌方面，有色金属、油气、化工、煤炭、半导体等板块跌幅居前。其中有色金属板块遭重挫，招金黄金、四川黄金、湖南黄金、中金黄 金、赤峰黄金、西部黄金、山东黄金、山金国际等黄金股大面积跌停。 | 601899.SH | 50.01 | -0.1970 | 0.00% | | --- | --- | --- | --- | | 山金国际 | 31.36 | -9.99% | 0.00% | | 000975.SZ | | | | | 山东黄金 | 49.10 | -9.99% | 0.00% | | 600547.SH | | | | | 赤峰黄金 | 38.88 | -10.0 ...

Core Viewpoint - Kuaishou announced a special governance initiative targeting "AI-modified" videos, set to begin on January 1, 2026, focusing on combating malicious alterations and inappropriate adaptations of classic films and animations [1] Group 1: Governance Initiative - The special governance will last for one month, specifically addressing violations related to the use of AI technology [1] - During the governance period, Kuaishou has already dealt with 5,576 pieces of violating content and issued warnings to 11 accounts [1] - The platform plans to implement ongoing governance measures for "AI-modified" videos following the initial initiative [1]

| 百度集团-SW | 146.650 | -6.150 | -4.02% | | --- | --- | --- | --- | | 地平线机器人-W | 7.930 | -0.300 | -3.65% | | 商汤-W | 2.380 | -0.090 | -3.64% | | 京东健康 | 60.950 | -2.300 | -3.64% | | 理想汽车-W | 63.600 | -2.350 | -3.56% | | 网易-S | 198.200 | -6.800 | -3.32% | | 金蝶国际 | 12.540 | -0.410 | -3.17% | | 小米集团-W | 34.520 | -0.980 | -2.76% | | 美团-W | 94.650 | -2.550 | -2.62% | 编辑｜钉钉 2月2日，港股低开低走，恒生科技指数午后跌幅扩大至4%；恒指现跌近3%。 科网股集体下跌，华虹半导体跌超12%，比亚迪股份跌超8%，哔哩哔哩跌超5%，快手、阿里巴巴、百 度集团跌逾4%，网易、小米集团、美团均走低。 | 名称 | 现价 | 涨跌 | 涨跌幅 ~ | | --- | --- ...

市场监管总局网监司副司长舒玲敏表示，此案是市场监管总局加强平台经济常态化监管，营造安全放心的消费环境和维护公平竞争市场秩序的具体体现， 是在平台经济领域综合运用电子商务法等多部法律查处违法行为的典型案件，对促进平台企业合规经营，保护广大经营者和消费者合法权益，推动直播电 商行业创新健康发展具有积极意义。 市场监管部门对直播电商领域存在的虚假营销、假冒伪劣等突出问题，始终保持"零容忍"。本次案件查处，通过重点核查当事人是否履行对商家的资质核 验义务、是否侵害中小微商家合法权益、是否对侵害消费者权益行为采取有效处置措施等关键环节，依法认定当事人的违法事实，并作出处罚决定，释放 了以监管促发展的强烈信号。（经济日报记者 李思雨） （来源：经济日报） 转自：经济日报 1月30日，市场监管总局集中发布第五批直播电商领域典型案例。其中，包括近期依法查处快手电商平台运营主体成都快购科技有限公司违法案。经查， 当事人存在未依法履行信息公示义务，向平台内经营者收取不合理费用，对消费者未尽到安全保障义务，对实施侵犯知识产权行为未依法采取必要措施， 发布违法广告，帮助其他经营者实施虚假或者引人误解的商业宣传，为违法出售、购买野生动 ...