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 then rebounded, rising 51 points or 0.3% to 19,486 at the mid-day; the HSCEI rose 27 points or 0.4% to 7,001; the HSTECH rose 38 points or 0.9% to 4,357. The market turnover at mid-day was HK$85.15bn. After the large Chinese technology stocks announced their results yesterday, their performance was mixed. JD.com (9612) reported a 24% yoy adjusted net profit for 3Q24, beating consensus, but its stock price fell 1.4%. 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 its stock price rose 13.4% at mid-day.

Source: KGI Investment Strategy

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