On the first trading day of the Year of the Snake in the Hong Kong stock market, the cryptocurrency sector was sluggish, while the AI concept sector rose throughout the day

ChainCatcher news, according to Jinshi reports, Hong Kong stocks showed mixed performance on the first trading day of the Year of the Snake. In the afternoon, driven by technology stocks, both the Hang Seng Index and the Hang Seng Tech Index rebounded after hitting lows. By the close, the Hang Seng Index narrowed its decline to 0.04%, while the Hang Seng Tech Index turned up 0.29% at the end of trading.

Specifically, sectors such as semiconductors, chips, and AI concepts rose throughout the day, with Kingsoft Cloud performing exceptionally well, surging 31% during the day. SMIC closed up 10%, and Alibaba rose 6%. In contrast, sectors like cryptocurrency and pharmaceuticals continued to remain sluggish in the afternoon.