【True Wisdom Hong Kong Stock Masters】US stocks were mixed on Wednesday as the market awaited geopolitical news
Hong Kong Stock Market Trends and Analysis
U.S. stocks showed mixed performance on Wednesday as the market awaited geopolitical news and tech earnings reports. The overall market was volatile, with the three major indices closing with mixed results. The U.S. dollar strengthened, and the 10-year Treasury yield rose to 4.41%. Gold prices continued to rise, while oil prices faced downward pressure. Hong Kong's pre-market ADRs were generally weak, suggesting a lower opening for the local market. Mainland stocks rose yesterday, with the Shanghai Composite Index opening lower but closing up 0.7%. Trading volume remained active in both Shanghai and Shenzhen. Hong Kong stocks continued to fluctuate within a narrow range, opening lower but closing with modest gains. Overall trading volume remained light. Investors are monitoring external geopolitical developments, and high bond yields are also affecting market confidence. The index is expected to fluctuate between 19,000 and 20,000 points.
Industry News
$TRIP.COM-S(09961.HK) recently reported a Q3 profit of 6.76 billion yuan, up 46.6% year-on-year. Adjusted EBITDA for the period was 5.68 billion yuan, up 22.9% year-on-year, with an adjusted EBITDA margin of 36%, an increase of 2 percentage points. Net revenue for the quarter was 15.87 billion yuan, up 15.5% year-on-year, driven by increasingly strong travel demand. The company stated that its international business segments showed rapid growth in Q3, with outbound hotel and flight bookings fully recovering to 120% of pre-pandemic 2019 levels. Bookings on its international OTA platform grew over 60% year-on-year. Trip.com noted strong growth momentum in both domestic and international travel in Q3 and remains optimistic about sustained growth in the tourism industry as consumer confidence and travel enthusiasm rise. The company also believes that the AI-led technological revolution will be a core driver shaping the future of global tourism. With sustained high demand for travel in mainland China and strong execution by Trip.com's management, the company is well-positioned to capitalize on market opportunities, driving continued performance growth and a positive outlook.
(The author is a licensed SFC professional and does not hold the aforementioned stocks.)
Guo Jiayao CFA, Business Development Director, Harbor Family Office
Date: Thursday, November 21, 2024
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