On November 26, 2024, the Hong Kong stock market closed with mixed results. The Hang Seng Index (HSI) rose by 0.04%, the Hang Seng China Enterprises Index (HSCEI) fell by 0.16%, the Hang Seng Tech Index (HSTECH) dropped by 0.31%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) decreased by 0.17%.
In terms of industry sectors, the pharmaceutical stocks in Hong Kong saw a significant increase, with the sector rising by 2.30%. Notable performers included Innovent Bio, which surged by 3.50%, and Ali Health, which gained 2.27%. The aluminum sector also performed well, increasing by 1.43%, with Rusal rising by 4.62%. The internet healthcare sector in Hong Kong rose by 1.35%, with JD Health up by 1.50%.
Among individual stocks, Baidu-SW saw a significant increase of 4.17%. The company's autonomous ride-hailing platform "Apollo Go" plans to start trial operations in Hong Kong, with the first phase of testing expected to take place at the airport by the end of this year.
NIO-SW experienced a sharp decline of 5.59%. The company registered 4,000 insurance policies in the week ending November 24, compared to Tesla's 16,700 and BYD's 95,900. The stock was also affected by the overall market opening lower, with the Hang Seng Index down 0.5% and the Hang Seng Tech Index down 0.74%.
Xiaomi-W dropped by 4.23%. Concerns over the company's pricing strategy in its home appliance business channels led to a significant intraday decline of 5.11%.
Meituan-W rose by 1.42%. The stock saw a significant inflow of funds into its bull certificates, with a total of HKD 11 million flowing in, as the stock tested the HKD 160 level.
JD-SW increased by 1.88%, while Tencent fell by 0.35%. Alibaba-W rose by 1.71%, and NetEase-S declined by 0.97%.
Sands China Ltd saw a notable increase of 3.83%, and Yum China rose by 1.55%. Air China increased by 2.25%, and Cathay Pacific Airways rose by 2.25%.
Lopal Tech surged by 8.75%, driven by its inclusion in the Southbound Stock Connect list and improved third-quarter performance. Yidu Tech also saw a significant increase of 7.57%.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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