Opening 40 points lower, the HSI managed to rebound 79 points to peak at 19,742 in early trading. It then turned south, once bottoming at 19,575 with a slip of 87 points, eventually ending the midday down 22 points or 0.1% at 19,641. The HSCEI fell 16 points or 0.2% to 7,065. The HSTECH grew 1 point to 4,396. The total half-day turnover for the market amounted to $60.469 billion.

BABA-W (09988.HK) issued US$2.65 billion and RMB17 billion senior unsecured notes for debt repayment and share buybacks. Its stock price shed 1.4% to $84.05. WB-SW (09898.HK) saw a 13% increase in 1-3Q net profit, elevating its stock price by 7.9%. KINGSOFT (03888.HK) soared 8.9% as its 3Q net profit surged 13.5 times. Its same series KINGSOFT CLOUD (03896.HK) deepened its 3Q loss to RMB1.057 billion, yet its stock price jumped up by 22%.

Among other tech stocks, TENCENT (00700.HK) edged up 0.9% to $409.8. MEITUAN-W (03690.HK) and BIDU-SW (09888.HK) inched up 0.4%. KUAISHOU-W (01024.HK) gained 1.6%. XIAOMI-W (01810.HK) dropped 2.7%. JD-SW (09618.HK) closed flat at $137.2.

In addition, MEITU (01357.HK), KINGDEE INT'L (00268.HK), and XD INC (02400.HK) added 6.8-8.1%. WEIMOB INC (02013.HK) advanced 5.4%, while GDS-SW (09698.HK) tumbled 19%. Handset component stock AAC TECH (02018.HK) had its target price raised by Goldman Sachs. Its stock price leaped 4.3%.

Pharma stocks were in demand. UBS wrote in its report that it was optimistic about the diabetes drug prospects of INNOVENT BIO (01801.HK). INNOVENT BIO spiked 7.4%, while AKESO (09926.HK) swelled 6.9%. HANSOH PHARMA (03692.HK), BEIGENE (06160.HK), and SINO BIOPHARM (01177.HK) hiked over 4%.

As for car stocks, XPENG-W (09868.HK) narrowed its 3Q non-GAAP net loss to RMB1.53 billion and plans to launch at least four new models next year, but its stock price lost 1.4%. GEELY AUTO (00175.HK) waned 2.4%. GWMOTOR (02333.HK) and NIO-SW (09866.HK) ebbed 3.5% and 3.6%, respectively.
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AAStocks Financial News
Web Site: www.aastocks.com

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