On Friday, February 9th, the Hang Seng Index opened down 1.06%, and the Hang Seng Tech Index fell 1.36%. Among the constituents of the tech index, JD.com fell 3.5%, China Biologic Products fell 3%, JD Health and Alibaba both fell nearly 3%. In terms of news, Alibaba released its third-quarter earnings report yesterday, with revenue growth below expectations. Education stocks in the Hong Kong stock market performed well. TAL Education rose 6.67%, New Oriental Education rose 6.40%, and China East Education rose 0.87%. In terms of news, the Ministry of Education has drafted the "Regulations on the Management of Off-campus Training (Draft for Solicitation of Comments)" and is now seeking public opinions. Off-campus training in academic subjects for compulsory education stage students should be subject to government-guided pricing and fee management methods formulated by provincial governments.