《Economic Information Daily, Nov 4》 Following the U.S. midterm elections, the political landscape has dramatically shifted as the Democratic Party regained control of both the Senate and House of Representatives, with several traditionally Republican strongholds flipping to Democratic victories. After the election results were confirmed, A-shares surged sharply, and the Hong Kong market outlook also turned positive. The Hang Seng Index continued gaining momentum in the afternoon, ultimately breaking through the 23,900 level, triggering the liquidation of nearly 2,500 bearish warrants. The HSI closed at 23,919, up 393 points or 1.7% for the day. The Hang Seng China Enterprises Index closed at 8,057, up 114 points or 1.4%. The Hang Seng Tech Index closed at 3,936, up 68 points or 1.8%. Main board turnover reached nearly HK$236.9 billion. Northbound funds saw balanced buying and selling in early trading, but Shanghai market selling pressure intensified in the final session, dragging the daily southbound Stock Connect into net selling of nearly HK$3.3 billion, returning to capital outflow mode.
After the midterm election results were confirmed, market risk appetite significantly improved, prompting immediate investment inflows into biotech stocks. WuXi AppTec (02359) rose 12.39% to HK$197.80, WuXi Biologics (02269) gained 12.22% to HK$48.32, BeiGene (06160) climbed 10.18% to HK$231.60, Genscript Biotech (01548) surged 12.51% to HK$34.00, CStone Pharmaceuticals (06990) advanced 10.16% to HK$442.40, and InnoCare Pharma (09969) rose 8.27% to HK$12.04.
AI hardware stocks also rallied strongly. Hua Hong Semiconductor (01347) led the blue chips with a 15.75% gain, closing at HK$68.70. SMIC (00981) rose 8.96% to HK$46.44, Lenovo Group (00992) gained 6% to HK$20.84, Kingboard Laminate (01888) jumped 14.55% to HK$37.32, and Yangtze Optical Fibre & Cable (06869) rose 9.25% to HK$109.80. Zhongji Xuchuang (03308) denied rumors of overseas customers canceling orders and rebounded 7.58% from its lows to close at HK$667.
Among tech and internet stocks, Alibaba (09988) rose 1.05% to HK$100.60, Tencent (00700) gained 1.11% to HK$401.60, both closing above round-number levels. Meituan (03690) advanced 1.14% to HK$75.20, marking its fourth consecutive day of gains with a cumulative rise of 8.67%.Xiaomi (01810) rose 0.56% to HK$28.76, extending its winning streak to five days with a cumulative gain of 12.26%. Baidu (09888) climbed 2.48% to HK$76.55.
Consumer stocks declined against the market trend. Hengan International (01044) fell 2.29% to HK$21.32, China Resources Beer (00291) dropped 1.93% to HK$20.34, Pop Mart International (09992) declined 1.72% to HK$137.10, WH Group (00288) fell 1.59% to HK$6.48, and Budweiser APAC (01876) eased 1.29% to HK$6.11.
The top three most actively traded stocks in the HSI and HSCEI were Tencent, Alibaba, and SMIC. (ey)
After the midterm election results were confirmed, market risk appetite significantly improved, prompting immediate investment inflows into biotech stocks. WuXi AppTec (02359) rose 12.39% to HK$197.80, WuXi Biologics (02269) gained 12.22% to HK$48.32, BeiGene (06160) climbed 10.18% to HK$231.60, Genscript Biotech (01548) surged 12.51% to HK$34.00, CStone Pharmaceuticals (06990) advanced 10.16% to HK$442.40, and InnoCare Pharma (09969) rose 8.27% to HK$12.04.
AI hardware stocks also rallied strongly. Hua Hong Semiconductor (01347) led the blue chips with a 15.75% gain, closing at HK$68.70. SMIC (00981) rose 8.96% to HK$46.44, Lenovo Group (00992) gained 6% to HK$20.84, Kingboard Laminate (01888) jumped 14.55% to HK$37.32, and Yangtze Optical Fibre & Cable (06869) rose 9.25% to HK$109.80. Zhongji Xuchuang (03308) denied rumors of overseas customers canceling orders and rebounded 7.58% from its lows to close at HK$667.
Among tech and internet stocks, Alibaba (09988) rose 1.05% to HK$100.60, Tencent (00700) gained 1.11% to HK$401.60, both closing above round-number levels. Meituan (03690) advanced 1.14% to HK$75.20, marking its fourth consecutive day of gains with a cumulative rise of 8.67%.Xiaomi (01810) rose 0.56% to HK$28.76, extending its winning streak to five days with a cumulative gain of 12.26%. Baidu (09888) climbed 2.48% to HK$76.55.
Consumer stocks declined against the market trend. Hengan International (01044) fell 2.29% to HK$21.32, China Resources Beer (00291) dropped 1.93% to HK$20.34, Pop Mart International (09992) declined 1.72% to HK$137.10, WH Group (00288) fell 1.59% to HK$6.48, and Budweiser APAC (01876) eased 1.29% to HK$6.11.
The top three most actively traded stocks in the HSI and HSCEI were Tencent, Alibaba, and SMIC. (ey)