Market Roundup

China Oct Retail sales rose 4.8% yoy and beat consensus. Hong Kong stock market performed well today. The HSI opened 67 points higher and then fell 103 points. The index fluctuated and fell 9 points or 0.1% to 19,426. The HSCEI rose 6 points or 0.1% to 6,980. The HSTECH rose 9 points or 0.2% to 4,327. The daily market turnover was 155.5bn. After the large Chinese technology stocks announced their results yesterday, their performance was mixed. JD.com (9618) reported a 24% yoy increase in adjusted net profit for 3Q24 and beat consensus, but the stock price fell 1.9%. NetEase (9999) reported a 17% drop in net profit in the 3Q24, lower than consensus. The market is looking forward to the launch of two new games next month, and the stock price rose 12.1%.

Source: KGI Investment Strategy

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