On November 15, the Hong Kong stock market showed mixed performance with the Hang Seng Index (HSI) down 0.05%, the Hang Seng China Enterprises Index (HSCEI) up 0.10%, the Hang Seng Tech Index (HSTECH) up 0.22%, and the Hang Seng Composite Index (HSCCI) up 0.22%.
In terms of industry concepts, sectors such as aviation, gold, home appliances, non-ferrous metals, port transportation, and nuclear power saw gains. Technology stocks mostly rose, with NetEase up more than 12%, Tencent Music up more than 3%, Kuaishou up nearly 3%, and Baidu Group and JD Health up more than 1%. On the other hand, sectors such as rare earths, Chinese brokerage firms, cryptocurrencies, and telecommunications equipment experienced declines.
Among individual stocks, China Mobile rose 1.29%, China Telecom increased by 2.30%, and China Unicom surged by 3.39% as the three major A-share telecom operators rallied in the afternoon.
JD-SW fell by 1.85% as Tepper's fund increased its position in China by 12 percentage points from the previous quarter, reducing its holdings in Alibaba, Baidu, and other ETFs while increasing its holdings in Pinduoduo, JD, and Beike.
NetEase saw a significant rise of 12.13% after releasing its Q3 2024 financial report, showing strong revenue and profit growth.
Bilibili dropped by 10.04% despite achieving its first quarterly profit, possibly due to strategic cooperation and payment service agreements with Tencent.
BeiGene fell by 1.13% after a research report from BOCOM International raised its target price based on strong product sales trends.
China Merchants Securities fell by 7.36%, and Huatai Securities dropped by 5.00% as Chinese brokerage stocks continued to decline.
XPeng-W fell by 1.88% as Alibaba significantly increased its holdings in the company in the third quarter.
CSPC Pharma fell by 1.16% after announcing its Q3 financial results, showing increased revenue and R&D expenses.
Cathay Pacific Airways rose by 8.21% amid the overall market fluctuations.
Comments