"Hong Kong Stocks" Hang Seng Index closed down 10 points, chip stocks weakened, ZTE fell 13%

The Federal Reserve's interest rate cut of 25 basis points met expectations, and the Hong Kong Monetary Authority lowered the base rate of the discount window to 4 basis points. Hong Kong stocks initially rose and then fell, with the Hang Seng Index opening up 169 points, expanding to a gain of 260 points to reach 25,801 points before retreating. In the afternoon, it fell by 69 points to a low of 25,471 points, closing down 10 points or less than 0.1% at 25,530 points; the National Index fell 20 points or 0.2% to close at 8,934 points; the Hang Seng Tech Index fell 46 points or 0.8% to close at 5,534 points. The total turnover for the day was HKD 182.477 billion.

According to reports, the second-hand price of Quark AI glasses soared to 5,000 RMB, with orders delayed until 45 days later. Alibaba-W (09988.HK) fell 1.7% to HKD 150.6. Kuaishou-W (01024.HK) introduced a new policy for comic dramas, offering up to 4% additional traffic rebates and a 20,000 RMB incentive per drama, with the stock down 0.6% to HKD 66.75. NetEase-S (09999.HK) saw its mobile international server for "Yan Yun Shi Liu Sheng" surpass 5 million global reservations, with the stock down 0.6%. Sunny Optical (02382.HK) reported a 7.5% year-on-year increase in mobile lens shipments for November, with its stock down 2%.

In other tech stocks, Tencent (00700.HK) and Bilibili-W (09626.HK) fell 0.2% and 0.1%, while Baidu-SW (09888.HK) and Meituan-W (03690.HK) rose 0.2% and 1.5%. JD-SW (09618.HK) saw the debut of JD Industry (07618.HK) on its first day of listing, with JD down 0.4%. JD Industry closed at HKD 14.1, flat with its listing price. Additionally, Meitu (01357.HK), Kingdee (00268.HK), Jinsoft (03888.HK), and Weimob (02013.HK) fell between 2.9% and 3.1%, while Alibaba Health (00241.HK) and Kingsoft Cloud (03896.HK) fell 3.9% and 4.2%.

In the chip sector, SMIC (00981.HK) and Hua Hong (01347.HK) fell 2.3% and 4.8%. It was reported that telecom equipment stock ZTE (00763.HK) paid over one billion dollars to the U.S. to settle overseas bribery allegations, with ZTE responding that it communicated with the U.S. Department of Justice, resulting in a 13.1% drop in its stock. In the wire sector, Changfei Optical Fiber (06869.HK) rose 4.3%, with a turnover exceeding HKD 2.8 billion. In the automotive sector, Xiaomi-W (01810.HK) rose 1%, while BYD (01211.HK) fell 0.4%. In the battery sector, CATL (03750.HK) rose 1.9%, while autonomous driving chip maker Horizon-W (09660.HK) fell 3.3%, and autonomous driving developer WeRide-W (00800.HK) rebounded 4.9% In terms of financial stocks, HSBC (00005.HK) and Standard Chartered (02888.HK) rose by 2.1% and 1.5%, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) fell by 0.5% and 0.3%. Local property stocks Henderson Land (00012.HK) and Sun Hung Kai Properties (00083.HK) rose by 1.7% and 2%, while New World Development (00017.HK) fell by 2.1%. Commodity stocks did not benefit from the interest rate cut, with China Minmetals (01208.HK) and Chalco (02600.HK) falling by 2.9% and 3.1%. In other stocks, domestic property stocks Hopson Development (01813.HK) and Agile Group (03383.HK) fell by 5.6% and 7.6%. Wind power stock Goldwind (02208.HK) rose by 5.2%. According to reports, the polysilicon industry capacity acquisition platform has not yet been put into operation, leading to a 7.1% drop in GCL-Poly Energy (03800.HK). Melco International (00200.HK) and Tsim Sha Tsui Properties (06110.HK) fell by 3.2% and 3.7%, while China Duty Free (01880.HK) and Kangji Medical (00867.HK) fell by 4.8% and 5.4%