On Sept. 22 at the 2026 Hangzhou Yunqi Conference, Alibaba Group CEO Wu Yongming said machines are becoming the primary agents of thought and intelligence is evolving into a scaled commodity; he forecast total machine thinking will exceed human levels by more than 1,000 times. He identified AI models, AI chips and AI cloud as the three foundational pillars of the machine-intelligence era and said Alibaba will steadfastly invest in those infrastructure areas as a long-term strategic choice.

Hang Seng closed up 1.18% at 25,042.71, with innovative drug and CRO stocks leading gains; the Hang Seng Tech index reversed early losses to finish +0.4% at 4,423.29. Market turnover rose to HKD 202.73bn from HKD 185.59bn a session earlier. Sector snapshot: pharmaceuticals/biotech surged, property names strengthened in the afternoon, PCBs active, while precious metals and home appliances lagged. Notable movers: China Biopharmaceutical (01177.HK) +8.23%, CSPC PHARMA (01093.HK) +7.56%, 02359.HK +4.00%, SUNAC CHINA (01918.HK) +12.30%, 02476.HK +12.94%; Haier Smart Home (06690.HK) -4.03%, China Gold International (02099.HK) -6.62%. New listing 06727.HK closed down 9.18% on debut, below its IPO price.

Lithuanian prime minister says Lithuania is prepared to "strike back" but has drawn up evacuation plans to face a Russian threat.