<h3>Current Situation of the Three Major Indices</h3>
Hang Seng Index: Up 0.98%
Hang Seng China Enterprises Index: Up 1.03%
Hang Seng Tech Index: Up 1.69%
There are 1,163 stocks rising, 697 stocks falling, and 859 stocks flat in the overall market, indicating a positive trading atmosphere.
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<h3>Sector Performance</h3>
Retail Sector
The retail sector has shown a moderate upward trend, receiving continuous net inflows of funds. The recovery of consumption in mainland China has strengthened the performance expectations of leading companies, and the sector's risk appetite has rebounded.
Chow Tai Fook Jewellery (1929.HK): Up 2.80%, with a transaction volume of HKD 894 million. The increase in gold consumption and the expansion of store layouts support revenue growth. Consumer demand continues to rise, driving improvements in same-store sales. The company is continuously advancing its high-end and digital strategies.
Pop Mart (9992.HK): Up 3.87%, with a transaction volume of HKD 1.713 billion. The launch of new products combined with IP collaborations has stimulated sales, driving rapid revenue growth. The repurchase rate among young users has increased, enhancing performance elasticity. Expansion into overseas markets brings new driving forces for performance.
Eslon Holdings (653.HK): Up 1.56%, with a transaction volume of HKD 66 million. The recovery of offline traffic supports further improvement in performance. The online and offline integration strategy is showing results, with new products driving sales. The group's cash flow is stable, and the layout of lower-tier channels continues to advance.
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Semiconductor Sector
The semiconductor sector has shown a strong upward trend with significant capital flows. Demand from AI and data centers is driving industry prosperity, and profit expectations for leading companies have improved.
SMIC (0981.HK): Up 3.37%, with a transaction volume of HKD 9.910 billion. The surge in orders for AI computing power chips brings performance elasticity. The company continues to implement cost control and capacity expansion. The new process technology is expanding strongly, and the industry's prospects are viewed positively by the market.
Huahong Semiconductor (1347.HK): Up 4.55%, with a transaction volume of HKD 5.843 billion. The entry into the high-end process market has increased mainstream supply chain share. The demand for mobile phone and automotive chips in China has soared, with strong order performance. The strong policy support promotes research and innovation.
ChipMOS Technologies (2878.HK): Up 2.14%, with a transaction volume of HKD 48 million. The layout of new products is 完善， and the customer structure continues to optimize. The penetration rate of smart terminals is rising, and the growth of shipments is highly certain. The effects of cost control are evident, and profitability is gradually improving.
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Hardware and Peripherals Sector
The hardware and peripherals sector is steadily rising. The recovery in demand for tech hardware resonates with performance catalysts, concentrating funds on leading companies
Xiaomi Group -W (1810.HK): down 1.44%, turnover of HKD 9.831 billion. Continuously optimizing the smart hardware ecosystem to enhance product competitiveness. Stable overseas market expansion with diversified revenue structure. High-end strategy drives the average product price upward.
Hikvision (002415.SZ): up 1.85%, turnover of HKD 312 million. Rapid development of smart security and IoT businesses drives revenue growth. Product innovation promotes differentiated competition. Accelerated expansion of overseas channels enhances brand influence.
Lenovo Group (0992.HK): up 2.68%, turnover of HKD 533 million. AI PC and data center businesses become new performance engines. Initial results of overseas channel adjustments are emerging. Intelligent transformation brings valuation recovery space.
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<h3>Market Focus</h3>
Macroeconomic News: The Federal Reserve has maintained high interest rates for nearly a month and signaled a slowdown in rate cuts for the year, impacting the capital flow of Chinese assets due to the narrowing of the Hong Kong-US interest rate spread. The RMB exchange rate stabilizes, with the offshore RMB against the US dollar maintaining around 7.25 in recent months, boosting foreign investment confidence and stabilizing A/H share valuations. In October, China's manufacturing PMI remained steady at 50.2, returning to the boom-bust line, coupled with improved consumption in the peak season, enhancing risk appetite in the cyclical and consumer sectors.
Capital Flow: Southbound funds today net bought HKD 7.6 billion, with HK-Shanghai Stock Connect inflow of HKD 2.8 billion and HK-Shenzhen Stock Connect inflow of HKD 4.8 billion, indicating significant capital return to leading technology and semiconductor stocks. Leading tech stocks such as Tencent, Alibaba, and Hua Hong Semiconductor saw main funds increase positions, with stock prices rising significantly. The total turnover of Hong Kong stocks expanded, with core weights receiving marginal allocation, highlighting a structural market.
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<h3>Top Ten Stocks by Turnover</h3>
Alibaba (9988.HK), trading price HKD 173.50, up 3.09%, turnover HKD 12.366 billion
SMIC (0981.HK), trading price HKD 82.70, up 3.37%, turnover HKD 9.910 billion
Xiaomi Group -W (1810.HK), trading price HKD 45.26, down 1.44%, turnover HKD 9.831 billion
Tencent Holdings (0700.HK), trading price HKD 652.50, up 2.35%, turnover HKD 6.691 billion
Hua Hong Semiconductor (1347.HK), trading price HKD 32.63, up 4.55%, turnover HKD 5.843 billion
Meituan-W (3690.HK), transaction price HKD 124.15, increase 2.64%, transaction amount HKD 5.412 billion
Pop Mart (9992.HK), transaction price HKD 32.30, increase 3.87%, transaction amount HKD 1.713 billion
Li Auto-W (2015.HK), transaction price HKD 159.40, decrease 2.59%, transaction amount HKD 1.682 billion
Sihuan Pharmaceutical (1093.HK), transaction price HKD 8.43, decrease 1.27%, transaction amount HKD 1.261 billion
Zijin Mining (2899.HK), transaction price HKD 17.21, increase 1.97%, transaction amount HKD 1.056 billion

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The three major indices of the Hong Kong stock market rose across the board today, with the Hang Seng Tech Index leading the gains and showing strong structural strength. There was a significant net inflow of funds into the semiconductor and retail sectors, with leading companies like Alibaba and SMIC performing outstandingly and trading actively. The stabilization of the overseas macro environment and the RMB exchange rate has helped restore market risk appetite. Southbound funds continue to increase their positions in leading technology and semiconductor stocks, driving the core heavyweight stocks to rise in tandem

- The Hang Seng Index and related indices showed positive movements, with the Hang Seng Index up by 0.98% and the Hang Seng Technology Index up by 1.69%.  
- Retail and semiconductor sectors experienced significant gains, driven by increased consumer demand and AI-related growth, with notable performances from companies like Chow Tai Fook and SMIC.  
- Macro factors include stable RMB exchange rates and a narrowing Hong Kong-US interest rate gap, contributing to improved market sentiment and capital inflows into technology and semiconductor stocks.

LB Select

BABA-W

SMIC

XIAOMI-W

TENCENT

HUA HONG SEMI

Hong Kong stocks intraday | The Tech Index rises nearly 1.7% leading the gains, semiconductors strengthen; Alibaba rises 3.09%, SMIC rises 3.37%