Economic Information Daily, November 11 - U.S. October Consumer Price Index (CPI) rose 0.4% month-on-month, higher than the market expectation of 0.3%, though slower than September's 0.6% increase. Core CPI, excluding food and energy prices, rose 0.3% month-on-month, also exceeding the market forecast of 0.2%, and remained unchanged from September's increase, indicating that core inflation remains somewhat sticky. Before the data release, Federal Reserve Governor Waller stated that a 50 basis point rate hike might be needed in December. Interest rate futures markets indicate that a rate hike by the Fed next month is certain, with an additional 11% probability of a further 0.25 percentage point hike. Rate hike expectations have pressured Hong Kong stocks. The Hang Seng Index opened at 24,354, down 202 points or 0.8%, with main board turnover of HK$3.609 billion. The Hang Seng China Enterprises Index stood at 8,204, down 61 points or 0.7%. The Hang Seng Tech Index was at 4,045, down 39 points or 1%.
Alibaba (09988) fell 0.98% to HK$100.6, declining for four consecutive days with a cumulative drop of 7.79%, again teetering at the 100 yuan level. Tencent (00700) dropped 0.86% to HK$414.2. Baidu (09888) declined 2.07% to HK$78.05. Meituan (03690) fell 1.06% to HK$74.7. Xiaomi (01810) dropped 0.52% to HK$30.44. JD.com (09618) fell 0.98% to HK$111.
Among financial stocks, HSBC (00005) declined 1.47% to HK$141.2. AIA (01299) fell 0.69% to HK$78.8. Standard Chartered (02888) was unchanged at HK$231.
AI company Anthropic plans to advance its IPO. According to the latest disclosed prospectus, the company intends to issue shares at $70 to $78 per share. Based on the midpoint of the price range at $74, if underwriters fully exercise the over-allotment option (green shoe mechanism), the net proceeds are expected to reach $93.7 billion, potentially surpassing the record set by SpaceX. Zhipu (02513) announced a HK$4 billion share buyback plan, with its stock rising 1.66% to HK$490. MiniMax (00100) was unchanged at HK$173.1.
Li Auto (02015) led the decline among blue chips, falling 2.68% to HK$49. Techtronic Industries (00669) dropped 2.49% to HK$140.7. CATL (03750) rose 2.59% to HK$387.8. Hua Hong (01347) gained 1.61% to HK$75.75. (ey)
Alibaba (09988) fell 0.98% to HK$100.6, declining for four consecutive days with a cumulative drop of 7.79%, again teetering at the 100 yuan level. Tencent (00700) dropped 0.86% to HK$414.2. Baidu (09888) declined 2.07% to HK$78.05. Meituan (03690) fell 1.06% to HK$74.7. Xiaomi (01810) dropped 0.52% to HK$30.44. JD.com (09618) fell 0.98% to HK$111.
Among financial stocks, HSBC (00005) declined 1.47% to HK$141.2. AIA (01299) fell 0.69% to HK$78.8. Standard Chartered (02888) was unchanged at HK$231.
AI company Anthropic plans to advance its IPO. According to the latest disclosed prospectus, the company intends to issue shares at $70 to $78 per share. Based on the midpoint of the price range at $74, if underwriters fully exercise the over-allotment option (green shoe mechanism), the net proceeds are expected to reach $93.7 billion, potentially surpassing the record set by SpaceX. Zhipu (02513) announced a HK$4 billion share buyback plan, with its stock rising 1.66% to HK$490. MiniMax (00100) was unchanged at HK$173.1.
Li Auto (02015) led the decline among blue chips, falling 2.68% to HK$49. Techtronic Industries (00669) dropped 2.49% to HK$140.7. CATL (03750) rose 2.59% to HK$387.8. Hua Hong (01347) gained 1.61% to HK$75.75. (ey)
