"Hong Kong Stocks" Hang Seng Index rises 209 points in half a day, Alibaba up 3%, mobile and consumer goods stocks surge

In November, both the official manufacturing and non-manufacturing PMI in mainland China fell short of market expectations. The Hong Kong stock market performed well in the early session, with the Hang Seng Index opening up 86 points and later expanding its gains, rising by as much as 320 points to 26,179 points. By midday, it was up 209 points or 0.8%, reporting at 26,068 points; the National Index rose 58 points or 0.6%, reporting at 9,188 points; the Hang Seng Tech Index increased by 55 points or 1%, reporting at 5,654 points. The total turnover of the market at midday was HKD 114.975 billion.

Meituan (03690.HK) reported a third-quarter loss in line with expectations, with brokers generally anticipating that the company's food delivery business reached its peak loss last quarter. However, they also noted that in-store competition may rise again. Meituan's stock price fell by 1.5% to HKD 101. Among other tech stocks, Alibaba (09988.HK) rose by 3.3% to HKD 156.5, NetEase (09999.HK) increased by 2.2%, Tencent (00700.HK), JD.com (09618.HK), Baidu (09888.HK), and Kuaishou (01024.HK) rose between 0.8% and 1.3%, while Bilibili (09626.HK) fell by 0.2%. Additionally, Dongfang Zhenxuan (01797.HK) and NetEase Cloud Music (09899.HK) rose by 7.7% and 5.6%, respectively, while JD Health (06618.HK), New Oriental (09901.HK), and Xindong (02400.HK) rose by 3% to 3.3%. Meitu (01357.HK) and Kingsoft Cloud (03896.HK) fell by 4.1% and 4.2%.

Mobile component stocks rose, with Sunny Optical (02382.HK) and Lens Technology (06613.HK) increasing by 6.1% and 6%, respectively. QiuTai (01478.HK) and AAC Technologies (02018.HK) rose by 4.8% and 3.9%, while BYD Electronics (00285.HK) increased by 2.7%. Among chip stocks, SMIC (00981.HK) rose by 1.5%.

Xiaomi's car deliveries exceeded 40,000 units in November, with Xiaomi (01810.HK) previously rising by 0.6% but falling by 2% at midday. SERES (09927.HK) was included in the Hong Kong Stock Connect, and its stock price rose by 5.2%. Among other car stocks, Chery (09973.HK) and BYD (01211.HK) rose by 2.8% and 1.5%, while Li Auto (02015.HK) fell by 2%. Battery stock CATL (03750.HK) rose by 1.5%. Some consumer stocks surged, with China Duty Free (01880.HK) and Tongcheng Travel (00780.HK) rising by 7.3% and 6.2%, respectively. Maoyan Entertainment (01896.HK) rose by 4.9%, while Laopu Gold (06181.HK) rose by 3.5%. Mixue (02097.HK) and Pop Mart (09992.HK) fell by 2.1% and 2.6% In the financial sector, HSBC (00005.HK) rose by 1.4%, Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) increased by 0.3% and 0.2%, respectively. Domestic insurance stocks, China Pacific Insurance (02328.HK) and PICC (01339.HK), fell by 2.8% and 5.1%. Domestic property stocks, Xincheng (01030.HK) and Longfor (00960.HK), rebounded by 5.1% and 2.3%. S&P downgraded Vanke (02202.HK) long-term rating to "CCC-" and placed it on a negative watch list, causing Vanke to drop by 1.6%.

Last Friday (28th), gold futures rose over 1%, and gold stocks such as China Gold International (02099.HK) increased by 8.4%. Zijin (02899.HK), Zhaojin (01818.HK), and Lingbao (03330.HK) rose between 4.3% and 5%. Silver and copper prices hit new highs, with China Silver Group (00815.HK) soaring by 9.9%, and Minmetals Resources (01208.HK) and Jiangxi Copper (00358.HK) rising by 9.7% and 8%, respectively. Luoyang Molybdenum (03993.HK) also increased by 5.8%