Group 1 - Southbound funds recorded a net sell of 399 million HKD [1] - The top three net purchases were from Xiaomi Group-W, Pop Mart, and ZTE Corporation, with net purchases of 933 million HKD, 670 million HKD, and 491 million HKD respectively [1] - The companies with the highest net sells were SMIC, Alibaba-W, and Hua Hong Semiconductor, facing net sells of 2.709 billion HKD, 1.81 billion HKD, and 1.145 billion HKD respectively [1]

Core Viewpoint - The Hong Kong stock market experienced a significant decline in the afternoon session, with technology stocks leading the drop, as the Hang Seng Technology Index fell over 3% and the Hang Seng Index dropped by 1.8% [1] Group 1: Market Performance - The Hang Seng Technology Index decreased by more than 3% [1] - The Hang Seng Index fell by 1.8% [1] Group 2: Individual Stock Movements - Semiconductor stocks were notably affected, with SMIC (中芯国际) dropping nearly 7% and Hua Hong Semiconductor (华虹半导体) falling by 5.52% [1][2] - Other major declines included Baidu (百度) down 5.32%, Kuaishou (快手) down 5.07%, and Alibaba (阿里巴巴) down 4.50% [1][2] - NIO (蔚来) and Bilibili (哔哩哔哩) both saw declines of 4.19% and 3.90% respectively [2] - Tencent (腾讯) and Sunny Optical Technology (舜宇光学科技) also experienced drops of 3.55% and 3.13% respectively [2] Group 3: Year-to-Date Performance - Despite the recent declines, SMIC has seen a year-to-date increase of 144.50% [2] - Hua Hong Semiconductor has increased by 271.82% year-to-date [2] - Baidu and Kuaishou have also shown positive year-to-date performance, with increases of 52.84% and 106.16% respectively [2] - Alibaba's year-to-date increase stands at 105.72% [2]

Market Overview - On October 10, the three major indices opened lower, with the Shanghai Composite Index down 0.51%, the Shenzhen Component Index down 1.85%, and the ChiNext Index down 3.4%. Over 2,300 stocks declined, with a trading volume of 1.66 trillion yuan, a decrease of 63.4 billion yuan compared to the same period of the previous trading day [1]. Sector Performance - The graphene concept and coal mining sectors saw gains, while precious metals, semiconductor chips, and new energy batteries experienced significant declines [2]. Graphene Sector - The graphene sector was notably active, with stocks such as Baotailong (601011) and Del Future (002631) hitting the daily limit up. Other stocks like Henghui Security (300952) and Feirongda (300602) also saw increases. This activity was driven by the announcement from the Ministry of Commerce and the General Administration of Customs regarding export controls on lithium batteries and artificial graphite negative electrode materials [3]. Graphene Stock Performance - Baotailong (601011.SH): Latest price 3.27, up 10.10% - Del Future (002631.SZ): Latest price 5.79, up 10.08% - Henghui Security (300952.SZ): Latest price 35.39, up 8.89% [4]. Coal Mining Sector - The coal mining sector showed a strong upward trend, with Dayou Energy (600403) hitting the daily limit up. Other companies like Jinkong Coal Industry (601001) and Shanxi Coking Coal (000983) also reported gains. Analysts from Guosheng Securities noted that domestic coal production has been constrained since July due to regulatory checks, leading to a likely decrease in coal production in the second half of the year. This situation, combined with lower inventory levels compared to last year, could result in upward pressure on coal prices [5]. Coal Mining Stock Performance - Dayou Energy (600403.SH): Latest price 4.31, up 9.95% - Jinkong Coal Industry (601001.SH): Latest price 14.91, up 3.61% - Shanxi Coking Coal (000983.SZ): Latest price 7.35, up 2.23% [6]. Lithium Battery and Semiconductor Sectors - The lithium battery supply chain faced significant declines, with stocks like Tianji Co. (002759) hitting the limit down, falling 9.08%. Other companies such as Xiandao Intelligent (300450) and Yinghe Technology (300457) dropped over 10%. The semiconductor sector also saw declines, with companies like Huahong Semiconductor and Dongxin Co. falling over 10% [7]. Precious Metals Sector - On October 10, spot gold prices fell below $4,000 per ounce, trading at $3,972.44. The A-share precious metals sector dropped over 3%, with stocks like Xiaocheng Technology (300139) and Western Gold (601069) declining over 8% [9][10]. Market Sentiment on Precious Metals - The recent decline in precious metals may be attributed to a combination of easing geopolitical tensions and profit-taking by investors. Reports indicated that a ceasefire agreement between Israel and Hamas has led to reduced demand for gold as a safe-haven asset. However, overall confidence in gold's long-term prospects remains optimistic, with forecasts suggesting that gold prices could exceed $4,500 per ounce in the first quarter of next year [11].

Core Viewpoint - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 1.14% and the Hang Seng Tech Index dropping by 2.45% on October 10th [1] Group 1: Semiconductor Sector - The semiconductor sector in Hong Kong showed weakness, with notable declines in key stocks: SMIC fell over 5%, Fudan Microelectronics and Hua Hong Semiconductor dropped more than 4%, and InnoCare and ChipMOS fell over 3% [1] Group 2: Beverage Sector - In contrast, the beverage sector performed well, with Gu Ming rising over 13%, Mixue Group increasing nearly 6%, and other companies like Hou Shang Ayi, Cha Ba Dao, Uni-President China, and Nongfu Spring also seeing gains [1]

Group 1 - Semiconductor stocks in Hong Kong continue to weaken, with notable declines in major companies [1] - SMIC (Semiconductor Manufacturing International Corporation) fell over 5.5%, indicating significant market pressure [1] - Other companies such as Fudan Microelectronics, InnoLight Technology, and Jingmen Semiconductor also experienced declines of 4%, over 3%, and 2.5% respectively [1]

Group 1 - The Hong Kong stock market's semiconductor stocks experienced a significant decline, following the downward trend of the A-share market, with major companies like SMIC, Hua Hong Semiconductor, and Jingmen Semiconductor dropping over 5% [1] - Specific stock performance includes: - SMIC (00981) down 5.57% to 78.850, with a market cap of 630.797 billion and a year-to-date increase of 147.96% - Hua Hong Semiconductor (01347) down 5.75% to 80.300, with a market cap of 139.357 billion and a year-to-date increase of 270.90% - Jingmen Semiconductor (02878) down 5.08% to 0.560, with a market cap of 1.399 billion and a year-to-date increase of 13.13% - Shanghai Fudan (01385) down 4.30% to 43.200, with a market cap of 35.486 billion and a year-to-date increase of 187.38% [2]

Core Viewpoint - The Hang Seng Technology Index and the Hang Seng Index experienced significant declines, indicating a bearish sentiment in the market [1] Company Performance - SMIC (Semiconductor Manufacturing International Corporation) saw a drop of over 5.5% [1] - NIO and Xpeng Motors both fell nearly 5% [1] - Baidu Group and Hua Hong Semiconductor declined by more than 3% [1] - Xiaomi Group and Bilibili experienced a decrease of over 2% [1]

Core Viewpoint - Semiconductor stocks continue to decline, with significant drops in share prices for major companies like SMIC and Hua Hong Semiconductor, attributed to adjustments in margin financing rates due to high static P/E ratios [1] Group 1: Stock Performance - SMIC (00981) fell by 5.03% to HKD 79.3 [1] - Hua Hong Semiconductor (01347) decreased by 4.11% to HKD 81.7 [1] - Shanghai Fudan (01385) dropped by 2.84% to HKD 43.86 [1] - ASMPT (00522) declined by 2.46% to HKD 93 [1] Group 2: Margin Financing Adjustments - Several brokerages have adjusted the margin financing rates for SMIC from 0.7 to 0.00 and for Bawen Storage from 0.5 to 0.00 [1] - The adjustment to a zero financing rate is a unified action by brokerages due to the static P/E ratios exceeding 300 [1] Group 3: Market Outlook - Citigroup reported that despite a 34% valuation premium in the semiconductor index, the high growth rates supported by AI effects make valuations reasonable, indicating potential for further upward movement in the semiconductor cycle [1] - Goldman Sachs anticipates that with the development of domestic AI solutions, SMIC and Hua Hong Semiconductor are expected to become leading foundries in China and benefit in the long term [1]

Group 1 - The Hang Seng Technology Index fell over 2% in early trading on October 10, indicating a negative market sentiment towards technology stocks [1] - The Hang Seng Index also experienced a decline of more than 1%, reflecting broader market weakness [1] - Notable declines were observed in several companies, with SMIC down over 5.5%, NIO and Xpeng both dropping nearly 5%, and Baidu and Hua Hong Semiconductor falling over 3% [1]

Core Viewpoint - The semiconductor sector is experiencing a significant adjustment, leading to notable declines in stock prices for several companies [1] Company Performance - Hua Hong Semiconductor saw a drop of over 7% in its stock price [1] - SMIC (Semiconductor Manufacturing International Corporation) experienced a decline of more than 4% [1] - Other companies such as Bawen Storage, Demingli, Jinghe Integration, and Chipone also faced declines exceeding 5% [1]