---
title: "The Market Review: Hang Seng Index fluctuates upward, HSBC and AIA rise, XPeng rebounds nearly 18%"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/265303308.md"
description: "After rising 407 points on the 10th, the Hang Seng Index repeatedly climbed on the 11th, closing at 26,696 points. The U.S. Senate passed a funding bill, boosting U.S. stocks. Financial stocks performed well, with HSBC and AIA rising 1.7% and 1.3%, respectively. Northbound trading saw a net inflow of HKD 4.467 billion. The stock prices of Alibaba, JD.com, and Meituan declined. The State Administration for Market Regulation issued compliance reminders for promotions to regulate the behavior of e-commerce platforms"
datetime: "2025-11-11T09:15:36.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265303308.md)
  - [en](https://longbridge.com/en/news/265303308.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265303308.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/265303308.md) | [繁體中文](https://longbridge.com/zh-HK/news/265303308.md)


# The Market Review: Hang Seng Index fluctuates upward, HSBC and AIA rise, XPeng rebounds nearly 18%

After the Hang Seng Index rose by 407 points or 1.6% yesterday (10th), it showed a mixed improvement today (11th). The U.S. Senate passed a funding bill, and the U.S. government is expected to end the shutdown. The Dow Jones and Nasdaq both rose by 0.8% and 2.3% respectively on the night of the 10th. As of the time of writing, the yield on U.S. 2-year bonds rose to 3.595%, the yield on U.S. 10-year bonds rose to 4.122%, and the U.S. dollar index rose to 99.7. The latest Dow futures fell by 43 points or 0.09%, and Nasdaq futures fell by 88 points or 0.3%. The Shanghai Composite Index fell by 15 points or 0.39% to close at 4,002 points, the Shenzhen Component Index fell by 1%, and the ChiNext Index fell by 1.4%. The total trading volume in the Shanghai and Shenzhen markets was 1.99 trillion yuan.

The Hang Seng Index opened 99 points higher, initially rising 139 points to a high of 26,788 points before retreating, at one point falling 137 points to a low of 26,511 points. In the afternoon, it rebounded repeatedly, closing up 47 points or 0.18% at 26,696 points; the Hang Seng China Enterprises Index rose by 18 points or 0.2% to close at 9,461 points; the Hang Seng Tech Index rose by 8 points or 0.15% to close at 5,924 points. The total trading volume for the day was 210.231 billion yuan. The total trading volume of northbound trading was 89.849 billion yuan, while southbound funds had a net inflow of 4.467 billion yuan today (the previous trading day had a net inflow of 6.654 billion yuan).

Pop Mart (09992.HK) rose by 0.8% to close at 223.2 yuan. Financial stocks performed well, with HSBC (00005.HK) rising by 1.7% to close at 112.4 yuan, AIA (01299.HK) rising by 1.3%, and ICBC (01398.HK) rising by 0.6% to close at 6.49 yuan. SMIC (00981.HK) and Hua Hong (01347.HK) saw their stock prices decline by 2.7% and 3.6% respectively, with SMIC set to announce its third-quarter results this Thursday (13th).

【Financial stocks perform well, Alibaba and JD.com decline】

Alibaba-W (09988.HK) fell by 1.8% to close at 160.4 yuan, with a trading volume of 11.67 billion yuan. JD.com-SW (09618.HK) fell by 1.1% to close at 123.1 yuan, and Meituan-W (03690.HK) fell by 1.3% to close at 102 yuan.

The State Administration for Market Regulation issued a compliance notice to major e-commerce platforms regarding the "Double 11" online concentrated promotion, aiming to standardize promotional business practices, maintain order in online transactions during "Double 11," and protect consumers' legitimate rights and interests. The notice mainly includes six aspects. First, strictly adhere to relevant laws and regulations, effectively implement review and verification obligations, ensure that the information of operators is true and valid, and ensure that platform rules are open and fair. Second, strictly regulate promotional activities, prohibiting illegal practices such as "choose one of two" and "big data killing familiarity." Third, strictly regulate pricing behavior, fully respect the autonomy of merchants, and prohibit unreasonable restrictions or additional unreasonable conditions on merchant pricing through service agreements, transaction rules, and technology Fourth, strengthen the review of the qualifications of operators and product information on the platform, focusing on controlling the quality of live broadcast products, strictly prohibiting the sale of counterfeit and inferior goods as well as restricted and prohibited items, and ensuring that the live broadcast content is consistent with the products sold.

【Market breadth slightly weakens, XPeng is favored】

The Hong Kong stock market breadth has slightly weakened, with a rise and fall ratio of 25 to 24 for main board stocks (compared to 35 to 16 the previous day). There were 1,042 rising stocks (an increase of 2.5%), with 53 Hang Seng Index constituent stocks rising and 31 falling, resulting in a rise and fall ratio of 60 to 35 (compared to 89 to 10 the previous day). The market recorded short selling of HKD 30.215 billion today, accounting for 16.497% of the total turnover of shortable stocks, which was HKD 183.151 billion.

Automobile stocks performed individually, with BYD (01211.HK) down nearly 0.5% to HKD 101.3, Seres (09927.HK) down 4.8% to HKD 110, setting a new closing low for H shares, and Chery Automobile (09973.HK) up 0.7%. XPeng-W (09868.HK) saw its stock price surge 17.9% to HKD 108.5, with trading volume skyrocketing to HKD 9.021 billion, while automotive radar manufacturer Hesai-W (02525.HK) rose 7.1% to HKD 187.9.

Credit Suisse released a report stating that they recently added related workshops after XPeng's artificial intelligence day. XPeng's management shared deeper insights into the technology roadmap for the VLA (Vision-Language-Action) model 2.0, Robotaxi, and humanoid robots. XPeng has begun operational planning for the launch of Robotaxi, including city selection in mainland China, site layout, and license applications. The mass production and commercial deployment target is set for the second half of 2026. To bridge the gap between L4 and L2 autonomous driving, XPeng focuses on specific scenario challenges, including passenger pick-up and drop-off, campus parking, emergency takeover, and road construction detection. At the same time, it aims to expand operational coverage to achieve flexible pick-up and drop-off in residential areas, office buildings, and parking garages, enhancing passenger comfort. The firm has given XPeng H shares a "Buy" rating with a target price of HKD 116.9.

Regarding humanoid robots, XPeng is developing a full-sized humanoid robot to seamlessly integrate into human environments and accelerate the transition from hardware-driven to software-driven innovation. XPeng stated that the humanoid robot is powered by the VLA model initially developed for autonomous driving. This model is trained using diverse real-world data, including road videos, hand movement videos, and 3D spatial video inputs. Notably, XPeng's robots and electric vehicles will share the same underlying hardware (such as chips), achieving deep integration and scalability across fields

### 相关股票

- [HSBC (HSBC.US)](https://longbridge.com/zh-CN/quote/HSBC.US.md)
- [HSBC HOLDINGS (00005.HK)](https://longbridge.com/zh-CN/quote/00005.HK.md)
- [AIA Group (AAGIY.US)](https://longbridge.com/zh-CN/quote/AAGIY.US.md)
- [AIA (01299.HK)](https://longbridge.com/zh-CN/quote/01299.HK.md)

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