Market Roundup

Hong Kong stock market fluctuated within a narrow range today. After opening 40 points lower, the HSI rose 79 points, and then turned down again. It fell 22 points or 0.1%, to 19,641 at mid-day; the HSCEI fell 16 points, or 0.2% to 7,065; The HSTECH flat and close to 4,396. The total mid-day market turnover was HK$60.47bn. 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 1.4%. Kingsoft (3888) 3Q24 net profit soared 13.5x, and its stock price rose 8.9%. Xpeng Motors (09868)'s 3Q24 adjusted net loss narrowed to RMb1.53bn, and its stock price fell 1.4%.

Source: KGI Investment Strategy

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