"Hong Kong Stocks" The Hang Seng Index closed up 174 points, NetEase rose nearly 4%, commodity stocks surged

In November, the official manufacturing and non-manufacturing PMI in mainland China both fell short of market expectations. Hong Kong stocks performed well today, with the Hang Seng Index opening up 86 points and then expanding its gains, rising as much as 320 points to 26,179 points, closing up 174 points or 0.7% at 26,033 points; the National Index rose 42 points or 0.5%, closing at 9,172 points; the Hang Seng Tech Index rose 45 points or 0.8%, closing at 5,644 points. The total turnover for the market was HKD 200.884 billion.

Meituan (03690.HK) reported third-quarter results in line with expectations, but brokers noted that competition in the dining sector may reignite, causing the stock price to drop 2.9% to HKD 99.55. In other tech stocks, Alibaba (09988.HK) rose 2.2%, NetEase (09999.HK) rose 3.9%, with local media reporting that the mobile game version of "Yan Yun Shi Liu Sheng" will launch on December 12 and global reservations will open simultaneously. Tencent (00700.HK) and Baidu (09888.HK) rose 1.3% and 1.6%, while JD.com (09618.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) rose between 0.5% and 0.8%.

Dongfang Zhenxuan (01797.HK) and NetEase Music (09899.HK) rose 5.1% and 6.3%, while JD Health (06618.HK), New Oriental (09901.HK), and Xindong (02400.HK) rose between 3.5% and 4.2%. Meitu (01357.HK) and Kingsoft Cloud (03896.HK) fell 5.1% and 4.4%.

Mobile component stocks rose, with Sunny Optical (02382.HK) and Lens Technology (06613.HK) rising 6.2% and 4.9%, while Q Technology (01478.HK) and AAC Technologies (02018.HK) rose 4.3% and 3.4%. In the chip sector, SMIC (00981.HK) rose 0.9%.

Xiaomi Auto delivered over 40,000 units in November, with Xiaomi (01810.HK) rising 0.6% but closing down 1.8% for the day. Seres (09927.HK) was included in the Hong Kong Stock Connect, with its stock price rising 5.2%. In other automotive stocks, Chery (09973.HK) and BYD (01211.HK) rose 2.8% and 0.5%, while Li Auto (02015.HK) fell 2.3%. Battery stock CATL (03750.HK) rose 2.3%. Autonomous driving developers WeRide (00800.HK) and Pony.ai (02026.HK) rose 5.2% and 2.6%.

Gold futures rose over 1% last Friday (28th), with gold stocks China National Gold International (02099.HK) rising 11.4%, and Zijin (02899.HK), Shandong Gold (01787.HK), Zhaojin (01818.HK), and Lingbao (03330.HK) rising between 3.7% and 5.3%. Silver and copper prices hit new highs, with China Silver Group (00815.HK) soaring 5.6%, and Minmetals Resources (01208.HK) and Jiangxi Copper (00358.HK) rising 12.9% and 10.2% China Molybdenum (03993.HK) also rose 7.1%. Shipping stock Pacific Basin Shipping (02343.HK) increased by 4.2%.

Consumer stocks generally performed well, with China Duty Free Group (01880.HK), Tongcheng Travel (00780.HK), and Maoyan Entertainment (01896.HK) rising between 5.4% and 6.4%. Airline stocks Air China (00753.HK) rose 4.9%, while China Southern Airlines (01055.HK) and China Eastern Airlines (00670.HK) increased by over 2%. Mixue (02097.HK) and Pop Mart (09992.HK) fell by 2.1% and 4.3%, respectively.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) rose by 1.1% and 0.4%, while AIA (01299.HK) fell by 0.1%. Domestic bank Postal Savings Bank (01658.HK) dropped by 2.5%, and domestic insurance stocks PICC (02328.HK) and China Life (01339.HK) fell by 2.7% and 5.2%. Domestic property stocks Xincheng (01030.HK) and Longfor (00960.HK) rebounded by 4.2% and 2.2%. S&P downgraded Vanke (02202.HK) long-term rating to "CCC-" and placed it on a negative watch list, causing Vanke to drop by 3%