The Economic Information Agency reported on the 29th that the Federal Reserve kept the federal funds rate target range unchanged at 3.75% to 4%, in line with market expectations. Strong earnings from SK Hynix boosted AI-related stocks, with semiconductor shares performing strongly; overnight, the three major indexes rose together, and Japanese and Korean stock markets performed well this morning, rising about 1% temporarily. The Hang Seng Index opened at 23,088, down 6 points or less than 1%, with board turnover of HK$1.621 billion. The Hang Seng China Enterprises Index stood at 7,797, up 6 points or less than 1%. The Hang Seng Tech Index stood at 3,834, down 19 points or 0.5%.
The UK's bank surcharge tax was raised from 3% to 6%, lower than the previously expected 8%, a move that boosted UK bank stocks, but HSBC (00005) fell 0.4% to HK$135.1; Standard Chartered (02888) dropped 0.8% to HK$218.
SK Hynix's third-quarter operating profit surged 6.3 times to a record high, causing its ADR to soar overnight. However, Hong Kong-listed AI concept stocks retreated. Huahong (01347) fell 1.4% to HK$69; SMIC (00981) dropped 0.9% to HK$47.36; Lenovo Group (00992) fell 2.2% to HK$23.26; Zhaoyi Innovation (03986) declined 1.8% to HK$352.8; Montage Technology (06809) fell 1.9% to HK$225.8; TianShu Zhixin (09903) dropped less than 0.1% to HK$73.55.
PetroChina (00857) reported a 22% year-on-year increase in net profit to RMB 155.8 billion for the first three quarters, with realized crude oil average price up 19%; PetroChina rose 0.6% to HK$10.01.
Ping An Insurance (02318) reported a 27.3% year-on-year decline in net profit to RMB 96.645 billion for the first three quarters; Ping An Insurance fell 0.4% to HK$48.2.
Innovent Biologics (01801) reported product revenue exceeding RMB 4.7 billion in the third quarter, up over 40% year-on-year; Innovent Biologics rose 1.2% to HK$82.2.
New Oriental Education & Technology (09901) reported a 13.5% year-on-year increase in net profit for the first fiscal quarter, with projected revenue growth of 18% for fiscal year 2027, yet New Oriental still fell 8.3% to HK$39.2.
Jiangxi Copper (00358) reported a 94% year-on-year increase in net profit to RMB 11.7 billion for the first three quarters, with a 65% increase in the third quarter; Jiangxi Copper fell 1.8% to HK$28.7.
COSCO Energy (01138) reported a 1.7-fold year-on-year increase in net profit to RMB 7.4 billion for the first three quarters, and announced an investment of RMB 340 million to build ethylene carriers; COSCO Energy rose 1.2% to HK$17.84.
Sanhua Intelligent Controls (02050) reported a 5% year-on-year decline in net profit to RMB 3.1 billion for the first three quarters, with third-quarter profit down 10%; Sanhua Intelligent Controls fell 3% to HK$22.48. (vs)
The UK's bank surcharge tax was raised from 3% to 6%, lower than the previously expected 8%, a move that boosted UK bank stocks, but HSBC (00005) fell 0.4% to HK$135.1; Standard Chartered (02888) dropped 0.8% to HK$218.
SK Hynix's third-quarter operating profit surged 6.3 times to a record high, causing its ADR to soar overnight. However, Hong Kong-listed AI concept stocks retreated. Huahong (01347) fell 1.4% to HK$69; SMIC (00981) dropped 0.9% to HK$47.36; Lenovo Group (00992) fell 2.2% to HK$23.26; Zhaoyi Innovation (03986) declined 1.8% to HK$352.8; Montage Technology (06809) fell 1.9% to HK$225.8; TianShu Zhixin (09903) dropped less than 0.1% to HK$73.55.
PetroChina (00857) reported a 22% year-on-year increase in net profit to RMB 155.8 billion for the first three quarters, with realized crude oil average price up 19%; PetroChina rose 0.6% to HK$10.01.
Ping An Insurance (02318) reported a 27.3% year-on-year decline in net profit to RMB 96.645 billion for the first three quarters; Ping An Insurance fell 0.4% to HK$48.2.
Innovent Biologics (01801) reported product revenue exceeding RMB 4.7 billion in the third quarter, up over 40% year-on-year; Innovent Biologics rose 1.2% to HK$82.2.
New Oriental Education & Technology (09901) reported a 13.5% year-on-year increase in net profit for the first fiscal quarter, with projected revenue growth of 18% for fiscal year 2027, yet New Oriental still fell 8.3% to HK$39.2.
Jiangxi Copper (00358) reported a 94% year-on-year increase in net profit to RMB 11.7 billion for the first three quarters, with a 65% increase in the third quarter; Jiangxi Copper fell 1.8% to HK$28.7.
COSCO Energy (01138) reported a 1.7-fold year-on-year increase in net profit to RMB 7.4 billion for the first three quarters, and announced an investment of RMB 340 million to build ethylene carriers; COSCO Energy rose 1.2% to HK$17.84.
Sanhua Intelligent Controls (02050) reported a 5% year-on-year decline in net profit to RMB 3.1 billion for the first three quarters, with third-quarter profit down 10%; Sanhua Intelligent Controls fell 3% to HK$22.48. (vs)
