Market Roundup

Hong Kong stock market lacked direction today and trading volume shrank. After opening 40 points lower, the HSI rose 79 points. After that, the index fluctuated within a narrow range, rising 41 points or 0.2% today to close at 19,705. The HSCEI rose 6 points or 0.1% to close at 19,705. 7,090 points; the HSTECH rose 18 points or 0.4% to close at 4,413. The total daily market turnover was HK$114.67bn. Alibaba (9988) issued US$2.65bn and RMB17bn in senior unsecured notes, which it plans to use for debt repayment and repurchase. Its stock price fell 0.6%. Kingsoft Software (3888)'s 3Q24 net profit soared 13.5 times, and its stock price rose 9.4%. Xpeng Motors (09868) third-quarter adjusted net loss narrowed to RMb1.53bn, and its stock price fell 3.1%.

Source: KGI Investment Strategy

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