"Hong Kong Stocks" Hang Seng Index rises 86 points in half a day, POP MART rebounds over 8%, Alibaba Health falls after earnings

The three major U.S. stock indices rose for four consecutive days before the Thanksgiving holiday. On the morning of the Hong Kong stock index futures settlement day, the Hang Seng Index opened up 17 points, initially fell 105 points to a low of 25,822 points, then rose, reaching a high of 26,082 points with an increase of 154 points. It closed up 86 points or 0.3% at 26,014 points; the National Index rose 37 points or 0.4% to 9,199 points; the Hang Seng Tech Index rose 7 points or 0.1% to 5,626 points. The total turnover of the market for the half-day was HKD 117.17 billion.

Alibaba Health (00241.HK) reported a 39% increase in net profit after mid-term adjustments, with the stock down 3.9%. Former Tesla agile team member Lu Zeyu joined Xiaomi (01810.HK), and Xiaomi rose 3% to HKD 41.3. In other tech stocks, Alibaba (09988.HK) fell 2.3%, Tencent (00700.HK) and Baidu (09888.HK) fell 0.8% and 0.9%, respectively, Bilibili (09626.HK) fell 0.2%, while Kuaishou (01024.HK) and NetEase (09999.HK) each rose 0.2%, and JD.com (09618.HK) rose 2%. Meituan (03690.HK) closed flat at HKD 103.8, with the stock set to announce quarterly results after the market closes tomorrow (28th).

In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) rose 1.1% and 1.2%, respectively. Mobile-related stocks, Goertek (01415.HK) and Q Technology (01478.HK), rose 4% and 3.2%.

Li Auto (02015.HK) turned from profit to loss in the third quarter, recording a non-GAAP net loss of 360 million RMB, with the stock rising 1.2%. In other automotive stocks, BYD (01211.HK) fell 0.9%, while Chery (09973.HK) and Leapmotor (09863.HK) rose 4.3% and 3.8%. Battery stock CATL (03750.HK) rose 0.6%. Autonomous driving stock Pony.ai (02026.HK) rose 5.3%, while automotive radar system provider Hesai (02525.HK) fell 5.6%. Automotive dealer Zhongsheng (00881.HK) rose 4%.

IP-related stocks performed well, with POP MART (09992.HK) rising 8.8%, Miniso (09896.HK) and Bruker (00325.HK) rising 4.1% and 4.8%, respectively. Pharmaceutical stocks Rongchang (09995.HK) and Kangfang (09926.HK) rose over 4%, while WuXi AppTec (02359.HK) and WuXi Biologics (02269.HK) fell 3.4% and 4.1%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose 0.9% and 0.5%, respectively, while Standard Chartered (02888.HK) and AIA (01299.HK) rose 1.6% and 1.7% China's Agricultural Bank (01288.HK) and Postal Savings Bank (01658.HK) rose by 2.1% and 1.8%, respectively, while ZhongAn Online (06060.HK) increased by 2.2%. Vanke (02202.HK) in the real estate sector fell by 4.4%. Several of Vanke's domestic bonds previously hit the daily limit down in the mainland. Longfor (00960.HK) dropped by 2.1%. Domestic media reported that Longfor's US dollar bonds maturing in January 2028 experienced the largest decline since April 7.

With interest rate cut expectations, gold prices hovered at high levels, and Zijin Mining (02899.HK) rose by 2.2%. In other stocks, aluminum producer Hongqiao (01378.HK) increased by 2%. Real estate management stock China Resources Mixc (01209.HK) rose by 2.6%. Additionally, sportswear stock Li Ning (02331.HK) fell by 2.5%. Mengniu (02319.HK) and Budweiser (00291.HK) each rose by over 2%