On August 4, southbound capital recorded a net purchase of HK$2.57 billion in the Hong Kong stock market, with Stock Connect (Shanghai) seeing a net sale of HK$380 million and Stock Connect (Shenzhen) recording a net purchase of HK$2.95 billion. The largest net purchases were Alibaba-W (09988), Hua Hong Semiconductor (01347), and SMIC (00981), while Tencent (00700) was the most heavily net-sold stock. Alibaba-W received net purchases of HK$1.549 billion; Alibaba launched its next-generation foundational large model Qwen3.8 and an Agent product named 'Qwen Office,' which supports desktop, cloud-based, and enterprise collaboration Agents, with Qwen3.8 ranking fourth globally on the CodeArena leaderboard. Hua Hong Semiconductor and SMIC received net purchases of HK$1.182 billion and HK$1.061 billion, respectively, amid a wave of wafer foundry price increases, including Taiwan Semiconductor's planned 5% to 10% base increases starting in 2027 and Powerchip Semiconductor's July memory wafer tape-out price hike of 45%. Zhipu AI (02513) received net purchases of HK$795 million, following the premature disclosure of its GLM-5.3 documentation page on August 3. T.T. Circuit Materials Holdings (01888) received net purchases of HK$511 million, with Citi