Hong Kong Stocks Surged, Meituan Rose Nearly 7%, Chow Tai Fook up 6.85%

Market Express11-27

On Wednesday, November 27, the Hong Kong stock market saw significant gains with the Hang Seng Index (HSI) up 2.32%, the Hang Seng China Enterprises Index (HSCEI) up 2.57%, and the Hang Seng Tech Index (HSTECH) up 3.61%.

The technology sector led the rally, with major tech stocks rebounding. Meituan surged 7.24%, driven by strong market momentum and anticipation of its upcoming quarterly report, which is expected to show a 20% year-over-year increase in total revenue to RMB 91.9 billion and an adjusted net profit of RMB 13.8 billion. JD.com also saw a significant rise of 5.01%, contributing to the overall positive sentiment in the market.

Chow Tai Fook rose 6.85% despite reporting a 44.4% year-over-year decline in net profit for the first half of the fiscal year, with revenue at HKD 39.41 billion and net profit at HKD 2.53 billion. The company announced plans to repurchase up to HKD 2 billion worth of shares from internal resources.

Other notable stock movements included Xiaomi, which increased by 4.04%, and Li Auto, which rose by 2.55% due to strong Q3 results and robust delivery growth. Tencent and Alibaba also posted gains of 2.29% and 1.98%, respectively.

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Meituan surged 7.24%, driven by strong market momentum and anticipation of its upcoming quarterly report, which is expected to show a 20% year-over-year increase in total revenue to RMB 91.9 billion and an adjusted net profit of RMB 13.8 billion. JD.com also saw a significant rise of 5.01%, contributing to the overall positive sentiment in the market.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9054d27baa7286d439300d75115c9061\" tg-width=\"324\" tg-height=\"794\"/></p><p><br/><br/>Chow Tai Fook rose 6.85% despite reporting a 44.4% year-over-year decline in net profit for the first half of the fiscal year, with revenue at HKD 39.41 billion and net profit at HKD 2.53 billion. The company announced plans to repurchase up to HKD 2 billion worth of shares from internal resources.<br/><br/>Other notable stock movements included Xiaomi, which increased by 4.04%, and Li Auto, which rose by 2.55% due to strong Q3 results and robust delivery growth. 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