{Economic Information Daily, 28th}: The Federal Reserve began its two-day interest rate meeting, with tech stocks continuing to gain support. Following Anthropic's IPO application, Meta officially launched its fundraising plan totaling USD 97.5 billion, with the first tranche of USD 25 billion in common stock oversubscribed fivefold, reflecting ongoing market support for AI investments. Overnight, tech stocks were supported, with the Nasdaq rising over 1% and the Dow Jones slightly higher. The Hang Seng Index opened at 23,083, up 42 points or 0.2%, with main board turnover at HKD 2.563 billion. The Hang Seng China Enterprises Index stood at 7,790, up 23 points or 0.3%. The Hang Seng Tech Index stood at 3,829, up 29 points or 0.8%.
Pop Mart (09992) reported overall revenue for the third quarter declined 45% to 50% year-on-year, impacted by the fading popularity of Labubu and high base effects. Pop Mart dropped 6.1%, at HKD 124.
WH Group (00288) reported a 12.9% decline in net profit before biological fair value adjustments for the first nine months. WH Group fell 1.9%, at HKD 6.17.
Overnight, AI-related stocks continued their strength. Lenovo Group (00992) rose 5%, at HKD 23.5; Hua Hong Semiconductor rose 2.7%, at HKD 66.3; SMIC (00981) rose 2.3%, at HKD 46.4.
ASMPT (00522) turned profitable in the third quarter with a net profit of RMB 533 million and expects fourth-quarter revenue to grow 37.5%. ASMPT rose 4.5%, at HKD 126.7.
Hengrui Medicine (01276) reported a net profit of RMB 2.46 billion in the third quarter, up 89% year-on-year. Hengrui Medicine rose 9.7%, at HKD 49.04.
Guanghe Technology (01989) reported a net profit of RMB 1.5 billion for the first nine months, up 100% year-on-year, with third-quarter profit surging 130%. Guanghe Technology rose 5.7%, at HKD 73.6.
New listing Dongshan Precision (02384) debuted today, opening at HKD 82.4, down 5.1% from its offer price of HKD 86.8. Based on a board lot of 100 shares and excluding fees, investors lost HKD 440 per lot. (vs)
Pop Mart (09992) reported overall revenue for the third quarter declined 45% to 50% year-on-year, impacted by the fading popularity of Labubu and high base effects. Pop Mart dropped 6.1%, at HKD 124.
WH Group (00288) reported a 12.9% decline in net profit before biological fair value adjustments for the first nine months. WH Group fell 1.9%, at HKD 6.17.
Overnight, AI-related stocks continued their strength. Lenovo Group (00992) rose 5%, at HKD 23.5; Hua Hong Semiconductor rose 2.7%, at HKD 66.3; SMIC (00981) rose 2.3%, at HKD 46.4.
ASMPT (00522) turned profitable in the third quarter with a net profit of RMB 533 million and expects fourth-quarter revenue to grow 37.5%. ASMPT rose 4.5%, at HKD 126.7.
Hengrui Medicine (01276) reported a net profit of RMB 2.46 billion in the third quarter, up 89% year-on-year. Hengrui Medicine rose 9.7%, at HKD 49.04.
Guanghe Technology (01989) reported a net profit of RMB 1.5 billion for the first nine months, up 100% year-on-year, with third-quarter profit surging 130%. Guanghe Technology rose 5.7%, at HKD 73.6.
New listing Dongshan Precision (02384) debuted today, opening at HKD 82.4, down 5.1% from its offer price of HKD 86.8. Based on a board lot of 100 shares and excluding fees, investors lost HKD 440 per lot. (vs)
