Market Roundup

The Hang Seng Index opened 55 points lower and then widened its losses, briefly falling below the 27,000 mark in the afternoon. It closed down 233 points, or 0.9%, at 27,032. The H-share Index fell 1% to 9,175, while the Hang Seng Tech Index underperformed the market, falling 1.7% to 5,408. Total market turnover reached HK$238.7 billion. Lenovo Group (0992) reported a 21% drop in third-quarter profit, raising concerns about its earnings prospects, causing its share price to fall 4.5%. NetEase (9999) reported weaker-than-expected quarterly results, falling over 4% throughout the day. Meituan (3690) was summoned by regulators for its involvement in train ticket sales, causing its share price to fall 4.5%. Conversely, the AI sector bucked the trend, with Zhipu (2513) and MiniMax (0100) surging 28% and 14% respectively, benefiting from the release of new models.

Source: KGI Investment Products and Solutions Department

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