On November 2, all three major Hong Kong stock indices rose collectively. At the close, the Hang Seng Index gained 0.42% to 23,393.32, the Hang Seng Tech Index climbed 2.25%, and the China Enterprises Index added 0.56%.
On the board, internet technology stocks rose broadly, with Xiaomi Corporation (ASX: 01810) up over 6%, while Bilibili Inc. (ASX: 09626) and Kuaishou Technology (ASX: 01024) each gained more than 3%. Lithium battery stocks led the gains, with Contemporary Amperex Technology Co., Limited (ASX: 03750) surging over 6%. Dairy stocks advanced collectively, with Youran Dairy up more than 6%. Chinese brokerage stocks remained strong throughout the day, with China International Capital Corporation Limited (ASX: 03908) rising over 8%.
Lithium battery stocks led the gains, with Contemporary Amperex Technology Co., Limited (ASX: 03750) climbing more than 6%. According to market media reports, after more than three and a half years of litigation, CATL's Debrecen facility has made significant progress. On October 29, 2026, the Debrecen Court dismissed local residents' lawsuit against the environmental permit for CATL's battery plant, ruling that the government approval process did not involve any illegal circumstances, and the judgment cannot be appealed. It is understood that by the end of September this year, CATL's new battery cell plant in Debrecen, Hungary, had officially commenced production. The plant is planned for 100GWh with a total investment of 7.34 billion euros, and cumulative module production has reached 537,000 units.
Dairy stocks advanced collectively, with Youran Dairy up more than 6%. The Ministry of Agriculture and Rural Affairs' September supply and demand monthly report showed that the raw milk purchase price in major dairy-producing provinces was 3.08 yuan per kilogram, up 1.7% year-on-year. Huaxi Securities pointed out that due to its defensive attributes and the certainty of cyclical upward momentum, the dairy sector is still expected to achieve excess returns and performance gains within the consumer sector, earning performance plus dividend returns at reasonable valuations.
Chinese brokerage stocks remained strong throughout the day, with China International Capital Corporation Limited (ASX: 03908) rising over 8%. On Monday, the central bank will convene a meeting with the National Financial Regulatory Administration and the China Securities Regulatory Commission to gather major banks to study the optimization of the stock buyback and increase holding relending policy. In addition, on the evening of October 26, China International Capital Corporation Limited (ASX: 03908) announced that its share swap absorption and merger of Dongxing Securities and Xinda Securities had completed settlement. Recently, CICC issued an announcement on the change of its investment banking business entity, as the share swap absorption and merger of Dongxing Securities and Xinda Securities entered the substantive business handover stage. A total of 81 existing investment banking projects from Dongxing Securities and 12 from Xinda Securities formally changed their entity, being taken over by CICC.
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