The Economic Information Daily reported on the 26th: amid uncertainties in U.S.-Iran relations and oil prices hovering at high levels, Asian-Pacific markets generally declined, while mainland Chinese markets diverged. The Shanghai Composite Index initially fell but later stabilized, closing up 0.2%, while the Shenzhen Component Index closed down 1.2%. The Hong Kong market fluctuated: the Hang Seng Index opened higher but turned negative by dozens of points in early trading. Afternoon gains in the Shanghai Index helped expand the Hang Seng's rise. The Hang Seng Index closed at 23,211, up 118 points or 0.5%, with main board turnover shrinking to nearly HK$175.8 billion. Northbound funds recorded a net outflow of HK$2.075 billion, marking the ninth consecutive day of net outflow. The Hang Seng China Enterprises Index closed at 7,802, up 45 points or 0.6%. The Hang Seng Tech Index closed at 3,857, down 14 points or 0.4%.
Yemen's Houthi militants intensified attacks on Saudi Arabia, and U.S. President Trump warned of potential new military actions against Iran, keeping oil prices elevated. Oil stocks led gains, with the three major Chinese oil companies rising: CNOOC (00857) gained 5.8% to close at HK$10.16, the largest gain among blue chips; CNOOC (00883) rose 3.5% to HK$23.94; Sinopec (00386) advanced 4% to HK$4.64.
Spot gold prices dipped below US$4,000 per ounce last Friday (23rd) and traded around that level today, dragging down gold mining stocks across the board. Zijin Mining (02899) fell 5.8% to HK$27.74, the largest decline among blue chips; Lingbao Gold (03330) dropped 4.9% to HK$15.93; Shandong Gold (01787) declined 3.4% to HK$16.85; Zhaojin Mining (01818) fell 2.7% to HK$16.10.
Hong Kong's Grade A office market vacancy rate fell for the fifth consecutive month, reaching a nearly 3.5-year low. Combined with the U.S. 10-year Treasury yield retreating to around 5%, property stocks found support. Sun Hung Kai Properties (00016) rose 2.6% to HK$108.20; Henderson Land (00012) gained 1.9% to HK$27.86; CK Asset (01113) advanced 2.4% to HK$45.16; Link REIT (00823) climbed 4.1% to HK$39.58; Kiu Tsui (01997) rose 2.4% to HK$31.06.
Elon Musk warned that around 200 tech firms face funding shortages and potential bankruptcy, while Cambricon, a mainland GPU leader, reported weaker-than-expected third-quarter revenue growth, keeping AI-related stocks under pressure. Lenovo Group (00992) fell 4% to HK$21.74; Yangtze Optical Fibre and Cable (06869) plunged 8.8% to HK$102.30; Jian Tao CCL (01888) dropped 4.6% to HK$35.98; Hua Hong Semiconductor (01347) declined 4.7% to HK$64.25; SMIC (00981) fell 2.4% to HK$45.92; TianShu Zhixi (09903) dropped 3.3% to HK$73.30; Biren Technology (06082) fell 4.8% to HK$22.56.
China Shenhua (01088) reported a 2% year-on-year increase in net profit to RMB 47.3 billion for the first nine months, with a nearly 3% rise in the third quarter. Additionally, the group invested over RMB 600 million to fully acquire a coal-to-gas company and expand into natural gas projects. Shenhua rose 2.8% to HK$40.74.
Lens Technology (06613) reported a net profit of over RMB 1.4 billion for the first nine months, down 50%, with revenue falling nearly 11%. The stock dropped 7.4% to HK$15.18.
Shimao Group (00813) faces over US$9 billion in offshore debt, and a winding-up petition has triggered a debt default. Shimao Group (00813) plunged 19.6% to HK$0.045.
洛阳钼业(03993) reported a 40% year-on-year increase in third-quarter profit, though the growth rate slowed compared to the first half. Luoyang Molybdenum closed down 4.5% at HK$12.42.
The three most actively traded stocks on the Hang Seng Index were Tencent (00700), Alibaba (09988), and SMIC (00981). Tencent closed at HK$386.40, up HK$0.40 or 0.1%, with turnover of HK$6.563 billion; Alibaba closed at HK$97.95, up HK$0.15 or 0.2%, with turnover of HK$3.82 billion; SMIC recorded turnover of HK$2.972 billion. (vs)
Yemen's Houthi militants intensified attacks on Saudi Arabia, and U.S. President Trump warned of potential new military actions against Iran, keeping oil prices elevated. Oil stocks led gains, with the three major Chinese oil companies rising: CNOOC (00857) gained 5.8% to close at HK$10.16, the largest gain among blue chips; CNOOC (00883) rose 3.5% to HK$23.94; Sinopec (00386) advanced 4% to HK$4.64.
Spot gold prices dipped below US$4,000 per ounce last Friday (23rd) and traded around that level today, dragging down gold mining stocks across the board. Zijin Mining (02899) fell 5.8% to HK$27.74, the largest decline among blue chips; Lingbao Gold (03330) dropped 4.9% to HK$15.93; Shandong Gold (01787) declined 3.4% to HK$16.85; Zhaojin Mining (01818) fell 2.7% to HK$16.10.
Hong Kong's Grade A office market vacancy rate fell for the fifth consecutive month, reaching a nearly 3.5-year low. Combined with the U.S. 10-year Treasury yield retreating to around 5%, property stocks found support. Sun Hung Kai Properties (00016) rose 2.6% to HK$108.20; Henderson Land (00012) gained 1.9% to HK$27.86; CK Asset (01113) advanced 2.4% to HK$45.16; Link REIT (00823) climbed 4.1% to HK$39.58; Kiu Tsui (01997) rose 2.4% to HK$31.06.
Elon Musk warned that around 200 tech firms face funding shortages and potential bankruptcy, while Cambricon, a mainland GPU leader, reported weaker-than-expected third-quarter revenue growth, keeping AI-related stocks under pressure. Lenovo Group (00992) fell 4% to HK$21.74; Yangtze Optical Fibre and Cable (06869) plunged 8.8% to HK$102.30; Jian Tao CCL (01888) dropped 4.6% to HK$35.98; Hua Hong Semiconductor (01347) declined 4.7% to HK$64.25; SMIC (00981) fell 2.4% to HK$45.92; TianShu Zhixi (09903) dropped 3.3% to HK$73.30; Biren Technology (06082) fell 4.8% to HK$22.56.
China Shenhua (01088) reported a 2% year-on-year increase in net profit to RMB 47.3 billion for the first nine months, with a nearly 3% rise in the third quarter. Additionally, the group invested over RMB 600 million to fully acquire a coal-to-gas company and expand into natural gas projects. Shenhua rose 2.8% to HK$40.74.
Lens Technology (06613) reported a net profit of over RMB 1.4 billion for the first nine months, down 50%, with revenue falling nearly 11%. The stock dropped 7.4% to HK$15.18.
Shimao Group (00813) faces over US$9 billion in offshore debt, and a winding-up petition has triggered a debt default. Shimao Group (00813) plunged 19.6% to HK$0.045.
洛阳钼业(03993) reported a 40% year-on-year increase in third-quarter profit, though the growth rate slowed compared to the first half. Luoyang Molybdenum closed down 4.5% at HK$12.42.
The three most actively traded stocks on the Hang Seng Index were Tencent (00700), Alibaba (09988), and SMIC (00981). Tencent closed at HK$386.40, up HK$0.40 or 0.1%, with turnover of HK$6.563 billion; Alibaba closed at HK$97.95, up HK$0.15 or 0.2%, with turnover of HK$3.82 billion; SMIC recorded turnover of HK$2.972 billion. (vs)
