Market Overview - On November 4, the Hang Seng Index fell by 0.79%, closing at 25,952.40 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 9.832 billion [1] Trading Activity - The total trading volume for the Stock Connect on November 4 was HKD 100.097 billion, with a net purchase of HKD 9.832 billion. Specifically, the Shanghai Stock Connect had a trading volume of HKD 61.300 billion and a net purchase of HKD 5.202 billion, while the Shenzhen Stock Connect had a trading volume of HKD 38.796 billion and a net purchase of HKD 4.631 billion [1] Active Stocks - In the Shanghai Stock Connect, Alibaba-W had the highest trading volume at HKD 44.666 billion, followed by SMIC and Xiaomi Group-W with trading volumes of HKD 26.778 billion and HKD 22.200 billion, respectively. In terms of net buying, Xiaomi Group-W led with a net purchase of HKD 0.908 billion, despite its closing price dropping by 2.91%. Conversely, Alibaba-W experienced the highest net selling at HKD 0.586 billion, with a closing price decline of 2.57% [1] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, Alibaba-W also topped the trading volume with HKD 29.600 billion, followed by Tencent Holdings and SMIC with trading volumes of HKD 17.460 billion and HKD 15.760 billion, respectively. Tencent Holdings saw the highest net purchase of HKD 0.379 billion, with a slight closing price increase of 0.16%. The stock with the highest net selling was Sunny Optical Technology, which had a net selling amount of HKD 0.325 billion, closing down by 4.59% [2]

Group 1 - The Hang Seng Index opened down 0.04% [1] - The Hang Seng Tech Index decreased by 0.19% [1] - Hengan International fell over 4% [1] - Zijin Mining dropped more than 2% [1] - SMIC (Semiconductor Manufacturing International Corporation) rose over 1% [1]

Core Insights - On November 4, 2025, Alibaba-W (09988), SMIC (00981), and Xiaomi Group-W (01810) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 4.466 billion, 2.678 billion, and 2.220 billion respectively [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), Tencent Holdings (00700), and SMIC (00981) also ranked as the top three, with trading amounts of 2.960 billion, 1.746 billion, and 1.576 billion respectively [1] Southbound Stock Connect (Shanghai-Hong Kong) - Top active companies by trading amount: - Alibaba-W (09988): 4.466 billion, net buy of -0.586 billion - SMIC (00981): 2.678 billion, net buy of -72.6415 million - Xiaomi Group-W (01810): 2.220 billion, net buy of 0.908 billion - Tencent Holdings (00700): 1.756 billion, net buy of -0.551 billion - CNOOC (00883): 1.577 billion, net buy of 0.710 billion - Hua Hong Semiconductor (01347): 1.397 billion, net buy of 0.163 billion - Meituan-W (03690): 1.300 billion, net buy of -0.113 billion - China Mobile (00941): 1.034 billion, net buy of 0.633 billion - Pop Mart (09992): 1.028 billion, net buy of 0.119 billion - Jingtao Holdings (02228): 0.985 billion, net buy of -29.1001 million [2] Southbound Stock Connect (Shenzhen-Hong Kong) - Top active companies by trading amount: - Alibaba-W (09988): 2.960 billion, net buy of -0.282 billion - Tencent Holdings (00700): 1.746 billion, net buy of 0.379 billion - SMIC (00981): 1.576 billion, net buy of -0.161 billion - Xiaomi Group-W (01810): 1.389 billion, net buy of 9.35231 million - CNOOC (00883): 0.910 billion, net buy of 0.336 billion - Hua Hong Semiconductor (01347): 0.883 billion, net buy of 0.166 billion - Meituan-W (03690): 0.730 billion, net buy of 0.204 billion - Sunny Optical Technology (02382): 0.573 billion, net buy of -0.325 billion - China Mobile (00941): 0.563 billion, net buy of 0.120 billion - Pop Mart (09992): 0.534 billion, net buy of 0.0078456 billion [2]

Group 1: Market Activity - Net buying activity was observed in China National Offshore Oil Corporation (CNOOC) at 1.046 billion HKD, Xiaomi Group at 1.002 billion HKD, China Mobile at 752 million HKD, Hua Hong Semiconductor at 329 million HKD, and Pop Mart at 127 million HKD [1] - Net selling was recorded for Alibaba at 867 million HKD, Sunny Optical Technology at 324 million HKD, SMIC at 233 million HKD, and Tencent Holdings at 172 million HKD [1] - Southbound funds have continuously net bought Xiaomi for 5 days, totaling 2.91469 billion HKD, and CNOOC for 4 days, totaling 2.64904 billion HKD [1] Group 2: Stock Performance - Alibaba's stock decreased by 2.6% with a net outflow of 586 million HKD, while its trading volume was 4.466 billion HKD [3] - Xiaomi Group's stock fell by 2.9% with a net inflow of 908 million HKD, and its trading volume was 2.220 billion HKD [3] - China Mobile's stock increased by 0.6% with a net inflow of 633 million HKD, and its trading volume was 1.034 billion HKD [3] Group 3: Company Insights - Xiaomi Group is expected to see significant profit release from its automotive segment in 2026, with a projected Q3 revenue of 110.1 billion HKD, a year-on-year increase of 19%, and a net profit exceeding 10.1 billion HKD, a year-on-year increase of 62% [4] - China Mobile announced a plan to transfer 4,198,130 A-shares (0.19% of total shares) to China National Petroleum Corporation, pending approval from the State-owned Assets Supervision and Administration Commission [4] - Hua Hong Semiconductor is positioned to benefit from strong AI demand, with a projected 24% increase in capital expenditure from major CSP cloud service providers, driving demand for computing chips [5]

Group 1 - Southbound funds net bought Hong Kong stocks worth 9.832 billion HKD today [1] - The top net purchases included China National Offshore Oil Corporation (CNOOC) at 1.046 billion HKD, Xiaomi Group at 1.002 billion HKD, and China Mobile at 752 million HKD [1] - The top net sales included Alibaba at 867 million HKD, Sunny Optical Technology at 324 million HKD, and Semiconductor Manufacturing International Corporation (SMIC) at 233 million HKD [1] Group 2 - Southbound funds have net bought Xiaomi for five consecutive days, totaling 2.91469 billion HKD [1] - CNOOC has seen net purchases for four consecutive days, amounting to 2.64904 billion HKD [1] - Tencent has experienced net sales for five consecutive days, totaling 2.16266 billion HKD [1]

Core Insights - The Hong Kong stock market saw a net inflow of 98.32 billion HKD from northbound trading on November 4, with 52.02 billion HKD from the Shanghai Stock Connect and 46.31 billion HKD from the Shenzhen Stock Connect [1] Group 1: Stock Performance - The most bought stocks included CNOOC (00883), Xiaomi Group-W (01810), and China Mobile (00941) [1] - The most sold stocks were Alibaba-W (09988), SMIC (00981), and Tencent (00700) [1] Group 2: Detailed Stock Transactions - Alibaba-W had a buy amount of 19.40 billion HKD and a sell amount of 25.26 billion HKD, resulting in a net outflow of 5.86 billion HKD [2] - Xiaomi Group-W saw a net inflow of 9.08 billion HKD, with a buy amount of 15.64 billion HKD and a sell amount of 6.56 billion HKD [2] - CNOOC had a net inflow of 10.46 billion HKD, supported by OPEC+'s decision to pause production increases [5] - China Mobile received a net inflow of 7.52 billion HKD, with a strategic share transfer to China National Petroleum Corporation [5] Group 3: Sector Insights - The semiconductor sector showed mixed results, with Hua Hong Semiconductor (01347) receiving a net inflow of 3.29 billion HKD, while other stocks faced net outflows [6] - Bubble Mart (09992) gained a net inflow of 1.27 billion HKD, driven by seasonal sales trends and new product launches [7]

Group 1: Market Movements - Wanda Hotel Development (00169) saw a significant increase, rising over 20% during trading, attributed to an agreement with Sony's CPE for a 49% stake in Vampire Squid Productions, which operates the "Octonauts" IP [1] - Cat's Eye Entertainment (01896) rose over 5.3% following the announcement of the film "Demon Slayer: Infinity Castle Chapter One" set to release on November 14, with over 142,000 new views recorded on the platform [1] - Baidu Group-SW (09888) increased by 6.6% after its subsidiary reported over 250,000 orders completed by fully autonomous vehicles, marking a significant step in the commercialization of autonomous driving [1] - Semiconductor stocks experienced gains, with Huahong Semiconductor (01347) up 2.14%, Shanghai Fudan (01385) nearly 1%, and SMIC (00981) up 1.37%, driven by a continued demand for memory chips and price increases planned by several manufacturers [1] Group 2: Gold and Oil Stocks - Gold stocks continued to decline, with Lingbao Gold (03330) down 4.46% and China Gold International (02099) down 2.41%, as spot gold prices fell below $3,980 per ounce, a drop of over 9% from the high on October 20 [2] - Oil stocks rose, with PetroChina (00857) up 3.14% and Sinopec (00386) up 1.66%, following OPEC+'s announcement to pause production increases in Q1 2024, leading Morgan Stanley to raise its short-term oil price forecast [3] Group 3: Automotive and Technology Developments - Li Auto-W (02015) fell 3.3%, with a reported 38% year-on-year decline in new car deliveries for October, alongside a recall announcement for the MEGA 2024 model due to coolant issues [3] - Hesai Technology (02525) rose over 2% after announcing a strategic partnership with Guanghetong to develop a multi-modal perception and control solution based on lidar technology [3] Group 4: US Market Highlights - Atour (ATAT.US) increased by over 5.8%, supported by China's 14th Five-Year Plan aimed at boosting consumption [5] - NIO (NIO.US) rose over 2.3% with a 92.6% year-on-year increase in new car deliveries for October [5] - Micron Technology (MU.US) gained over 4.8% as Samsung paused DDR5 DRAM contract quotes, impacting the supply chain [5] - Nokia (NOK.US) rose over 3.4% following a $1 billion investment from Nvidia to accelerate AI-RAN innovations [6]

Group 1 - Semiconductor stocks are rising, with notable increases in companies such as Hua Hong Semiconductor (+3.64%), Shanghai Fudan (+2.7%), and SMIC (+2.61%) [1] - The demand for memory chips continues to exceed supply, leading to additional orders for several packaging and testing companies, with price increases expected by the end of this year to next year, ranging from high single-digit to double-digit percentages [1] - AI demand remains strong, with Trendforce predicting a 24% year-on-year increase in capital expenditure from the top eight CSP cloud service providers, reaching $520 billion by 2026, which will drive demand for computing chips [1] Group 2 - Tianfeng Securities projects optimistic growth for the global semiconductor industry in 2025, driven by AI and ongoing domestic substitution efforts [2] - Companies in various segments are expected to report strong performance in Q2, with a focus on storage, foundry, SoC, ASIC, and CIS sectors showing earnings elasticity [2] - The leading foundry companies may initiate price increases, with optimistic performance outlooks for Q2 and Q3, as marginal changes in advanced processes continue to stimulate growth [2]

Group 1 - Semiconductor stocks experienced an upward trend, with notable increases in shares of Huahong Semiconductor (+3.64%), Shanghai Fudan (+2.7%), and SMIC (+2.61%) [1] - The demand for memory chips continues to exceed supply, leading to additional orders for several packaging and testing companies, with price increases expected by the end of this year to next year, varying from single-digit to double-digit percentages [1] - AI demand remains strong, with Trendforce projecting a 24% year-on-year increase in capital expenditure from the top eight CSP cloud service providers, reaching $520 billion by 2026, which will drive demand for computing chips [1] Group 2 - The global semiconductor market is expected to maintain an optimistic growth trajectory through 2025, driven by AI, with ongoing domestic substitution efforts amid rising risks of supply chain disruptions [2] - Companies across various segments are reporting strong earnings forecasts for Q2, with a positive outlook for the semiconductor peak season in Q3, particularly in the design sector for storage, foundry, SoC, ASIC, and CIS [2] - Leading foundry companies may initiate price increases, with optimistic earnings outlooks for Q2 and Q3, as marginal changes in advanced processes continue to catalyze growth [2]

Group 1 - The core point of the article highlights the performance of the Chip 50 ETF (516920), which opened at 1.040 yuan with a slight increase of 0.19% [1] - The major holdings of the Chip 50 ETF include companies such as SMIC, Cambricon, and others, with varying performance on the opening day [1] - The ETF's performance benchmark is the CSI Chip Industry Index return, managed by Huatai-PineBridge Fund Management Co., Ltd., with a return of 3.84% since its inception on July 27, 2021, and a recent one-month return of -7.43% [1] Group 2 - Specific stock performances include SMIC up by 0.66%, Cambricon up by 1.74%, and others like Huada Semiconductor and North Huachuang showing minimal changes [1] - The article provides a detailed overview of the ETF's performance metrics and its management structure, indicating a focus on the semiconductor industry [1]