Daily Investment Strategy
Daily focus：Prada (1913)
Prada announced its unaudited revenue for the first three quarters ending September 30, 2025. The company reported solid performance amidst a complex macroeconomic environment, with net revenue for the first nine months increasing by 9% at constant exchange rates to €4.07 billion. Retail sales also grew by 9%, including an 8% increase in the third quarter, broadly in line with market expectations. This performance was primarily driven by strong growth at the Miu Miu brand, which saw a 41% surge in sales during the first nine months. In contrast, the core Prada brand performed resiliently, but saw a slight decline of 2%.
Trump-Xi APEC Meeting Eases Trade Concerns
The S&P 500 rose 0.58% to 6,738 points amid expectations of easing trade tensions with China. The White House confirmed that US President Trump will meet with Chinese President Xi Jinping on October 30th during the APEC summit in Busan, South Korea, effectively allaying market concerns about escalating tariffs. Despite a decline in the previous trading day due to Trump's warning of possible 100% tariffs, market sentiment improved significantly today. However, with mixed corporate earnings reports, the stock market may enter a period of consolidation.
Hong Kong Stock Connect saw a net inflow of HK$5.35bn on Thursday, with China National Offshore Oil Corporation (0883) receiving the largest inflow of HK$980mn, followed by Pop Mart (0992). Meanwhile, Hua Hong Semiconductor (1347) saw the largest net outflow of HK$1.01bn, followed by Innovent Biologics (1801).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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