Market Roundup

Hong Kong stocks opened higher but then fell in the morning session, with e-commerce stocks generally weakening amid the Double 11 shopping festival atmosphere. The Hang Seng Index opened higher but then fell by nearly 140 points at its lowest point, closing at 26,595, down 53 points or 0.2%; the Hang Seng China Enterprises Index fell 30 points or 0.3% to 9,412; and the Hang Seng Tech Index closed at 5,900, down 0.25%. The total turnover for the morning session was HK$118.3 billion. XPeng Motors-W (9868) released its second-generation VLA large model, Robotaxi, and a new generation of IRON humanoid robots, among other physical AI applications, at its Tech Day event. Citigroup and Bank of America expressed optimism about its new business prospects, and its share price surged over 15% against the market trend. Coinciding with the Double 11 shopping festival, e-commerce stocks Alibaba-W (9988) fell 2.3% and JD.com-W (9618) fell 2.1%, dragging down the performance of technology stocks.

Source: KGI Investment Products and Solutions Department

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