Core Viewpoint - Morgan Stanley reports that the MSCI Hong Kong Index (MXHK) has returned 26% in USD terms year-to-date, indicating that Hong Kong remains one of the cheapest markets in the Asia-Pacific region, excluding ASEAN, with a forecasted P/E ratio still 0.3 standard deviations below the 10-year average [1] Group 1: Market Performance - The MXHK index's year-to-date return of 26% highlights a significant recovery trend in Hong Kong since 2023 [1] - The financial market performance in Hong Kong has been strong, and the residential property market is stabilizing [1] Group 2: Valuation and Forecast - Morgan Stanley has raised its year-end targets for MXHK to 13,000 and 14,000 points, assuming the index maintains or increases its P/E ratio relative to the past 10 years [1] - Potential targets for the end of 2026 are set at 14,366, 15,522, and 16,679 points, representing potential increases of 8%, 16%, and 25% respectively [1] Group 3: Investment Recommendations - The firm maintains a positive outlook for Hong Kong, expecting continued capital inflows, and has upgraded the telecommunications services sector to "overweight" [1] - Preferred stocks include Hong Kong Exchanges and Clearing (00388), Futu Holdings (FUTU.US), Galaxy Entertainment (00027), MGM China (02282), Techtronic Industries (00669), China State Construction International (03311), Henderson Land Development (00012), and MTR Corporation (00066) [1]

Core Viewpoint - Futu Holdings (FUTU.US) has seen a pre-market increase of over 1%, reaching $166.4, driven by investor concerns over regulatory uncertainties and market volatility, presenting a short-term adjustment opportunity for positioning [1] Group 1: Company Analysis - CICC's research report indicates that the recent stock price fluctuations of Futu Holdings are primarily due to excessive investor worries regarding regulatory uncertainties and market volatility [1] - The report expresses optimism about the company's valuation reassessment and earnings upgrades, reiterating its position as a top pick in the U.S. stock market [1] - CICC has raised the target price for Futu Holdings by 6% to $230, maintaining an "outperform" rating [1]

Monetary Policy and Economic Measures - The People's Bank of China will continue to implement a moderately loose monetary policy, using various tools to ensure ample liquidity and support consumption and effective investment, while maintaining the stability of the RMB exchange rate [2] - The Ministry of Finance reported that national fiscal revenue for the first three quarters reached 16.39 trillion yuan, a year-on-year increase of 0.5%, with a notable growth of 2.5% in the third quarter [3] - The Ministry of Finance announced measures to consolidate and expand the economic recovery, including allocating 500 billion yuan from local government debt limits to support local governments, an increase of 100 billion yuan from the previous year [3] Trade and Regulatory Developments - The Ministry of Commerce and other departments have adjusted the duty-free shopping policy for Hainan, increasing the number of duty-free product categories from 45 to 47, effective November 1 [4] - The Ministry of Commerce, along with five other departments, issued guidelines to improve the overseas comprehensive service system for enterprises, providing support for international cooperation and competition [4] - The State Administration for Market Regulation and the Ministry of Industry and Information Technology are drafting regulations to strengthen supervision of smart connected and new energy vehicle recalls [10] Corporate Performance and Market Trends - The China Securities Regulatory Commission revised the Corporate Governance Code for listed companies, effective January 1, 2026, to enhance the regulation of directors and senior management [5] - A-share market saw a significant decline, with the Shanghai Composite Index dropping 1.95% to 3839.76 points, and the Shenzhen Component Index falling 3.04% [5] - Zijin Mining reported third-quarter revenue of 86.489 billion yuan, a year-on-year increase of 8.14%, and a net profit of 17.056 billion yuan, up 52.25% [6] Investment and Financing Activities - The number of new margin trading accounts opened in September reached 205,400, a year-to-date high, with a month-on-month increase of 12.24% [6] - The fund managed by Zhao Yi increased holdings in companies such as Enjie and Kuaishou while reducing positions in CATL and Tencent [7] - Coca-Cola is considering an IPO for its bottling business in India, potentially raising $1 billion and valuing the business at approximately $10 billion [23]

Top Gainer stocks 1 hour after the US market opened 🔥📊 INTC, FUTU, AXP, TSLA, and BABA are climbing the charts.Highlights:$INTC rises with rumors that they locked in a major AI customer for their 18a/ap.$AXP just topped Q3 estimates as Platinum card demand surged. https://t.co/vxoOFNRn4o ...

Core Insights - Moomoo's second Global Paper Trading Competition has garnered over 150,000 participants within two days of its launch, indicating strong global interest in the event [1][2] Competition Overview - The competition, powered by Nasdaq TotalView®, allows participants to trade with virtual money and compete for a total of $200,000 in cash rewards [2] - It started on October 12, 2025, and reached 100,000 participants within the first 24 hours [2] - Participants will trade U.S. stocks, ETFs, and options using a $100,000 virtual fund over a six-week period [5] Features and Tools - Moomoo is integrating its AI assistant, Moomoo AI, into the competition to provide real-time assistance and insights [5] - Participants can earn Moomoo Tokens by completing tasks, which can be redeemed for cash prizes [6] Rewards and Recognition - The top three global participants will receive cash rewards of $10,000, $3,000, and $1,000 respectively [7] - Regional champions will be recognized across various markets, including the U.S., Canada, Australia, and others [8] - Selected participants may also be featured in a final celebration video on the Nasdaq Tower [9] Educational Aspects - The competition aims to enhance financial literacy and trading skills among participants, with a focus on both beginners and experienced traders [10][11] - Moomoo has added options trading and more educational tools to support users in improving their trading abilities [11]

Group 1: Market Overview - The Hang Seng Index closed at 25,911, up 1.84% for the day and 29.17% year-to-date, while the Hang Seng Tech Index rose 2.57% for the day and 35.97% year-to-date [1] - The Chinese stock market rebounded, with sectors like consumer discretionary and staples leading gains, while telecommunications, utilities, and energy lagged [3] - Southbound capital saw a net sell of 5.44 billion HKD, with notable net sells in Hang Seng China Enterprises, Tracker Fund, and SMIC, while Alibaba, Huahong Semiconductor, and Xiaomi received significant net buys [3] Group 2: Economic Insights - The Chinese economy shows signs of weak credit demand, with M1 growth indicating improved business activity, while the central bank is expected to maintain a loose liquidity policy [4][5] - CPI showed a slight recovery, indicating a slow revival in consumer demand, while PPI decline has narrowed due to rising upstream mining prices [4] - The report anticipates a policy easing window in Q4 2025, with expected reductions in LPR and reserve requirement ratios to support consumption and the real estate market [5] Group 3: Company Analysis - Futu Holdings - Futu Holdings is a leading technology-driven financial services platform, covering eight major markets and providing services like securities trading and wealth management [6] - The company is expected to achieve a compound annual growth rate (CAGR) of 12% in revenue and 14% in Non-GAAP net profit from FY25 to FY28, driven by growth in asset clients and improved operational efficiency [5][6] - Futu's AUM in virtual assets reached 4 billion HKD in Q2 2025, with projections indicating it could contribute 2.4 to 3.1 billion HKD in incremental revenue by 2027 [7] Group 4: Investment Rating - The report initiates coverage on Futu Holdings with a "Buy" rating and a target price of 224 USD, supported by its global expansion and strong growth in core business segments [6][7] - The company is currently trading at a significant discount compared to peers, with a P/E ratio of 19x/17x for FY25E/FY26E, presenting an attractive entry point for investors [7]

Core Viewpoint - Chinese assets are experiencing a significant rebound, with strong performance in both U.S. and Asian markets, driven by positive investor sentiment and strong earnings reports from major banks and tech companies [2][3][5]. Market Performance - After the U.S. market opened, the Nasdaq Golden Dragon China Index surged over 2.6%, with popular Chinese concept stocks also rising significantly. New Oriental increased by over 8%, while other stocks like Alibaba and Tencent Music rose over 2% [3][8]. - In the Asian trading session, both A-shares and Hong Kong stocks saw a collective rise, with the Shanghai Composite Index climbing 1.22% to surpass 3900 points [3][8]. Investor Sentiment - According to a recent Bank of America survey of 193 fund managers managing a total of $468 billion, there is a growing optimism regarding the Asian economy and an increase in investment confidence towards China [4][5]. - Approximately 90% of investors expect Asian stocks to rise further in the next 12 months, marking the highest confidence level since early 2023. Nearly 8% of respondents anticipate stronger economic growth in China, a significant increase from April's survey [6][7]. Earnings Reports - Major U.S. banks reported strong earnings, contributing to the overall market strength. Morgan Stanley's Q3 net revenue reached $18.22 billion, up 18% year-over-year, while Bank of America's revenue grew 11% to $28.09 billion [9]. - The Philadelphia Semiconductor Index rose significantly, with notable gains from companies like AMD and Nvidia, reflecting strong performance in the tech sector [9]. Economic Outlook - Paul Tudor Jones, a prominent hedge fund manager, predicts that the Nasdaq could rise further by the end of the year, supported by expectations of lower interest rates and positive earnings from large tech companies [10]. - He warns of concentration risk in the U.S. stock market, where a small number of stocks have driven significant gains, and highlights the potential for inflation to resurface in the next 18 months [11].

Core Insights - Moomoo has been certified as a Great Place To Work® for 2025 in the U.S., with 83% of employees considering it a great workplace, which is 26% higher than the average U.S. company [1][5][6] - This certification follows similar recognitions for Moomoo's sister companies in Malaysia and Singapore [1] Employee Engagement Initiatives - Moomoo has launched various initiatives to enhance employee engagement, including improved onboarding programs and cross-functional team-building events [3][4] - The company offers "Lunch & Learn" sessions and professional branding training workshops to support skill development and career advancement [4] Employee Wellbeing Focus - Moomoo emphasizes employee wellbeing by promoting work-life balance through curated office snacks, an on-site fitness center in Dallas, and commuter stipends for Jersey City employees [4] Leadership Recognition - The CEO of Moomoo US expressed pride in the company's recognition as a Great Place To Work® Certified™ company, highlighting the importance of employee experience in the company's culture [5][6] - Research indicates that job seekers are 4.5 times more likely to find a great boss at a Certified workplace, and employees at these workplaces are 93% more likely to look forward to coming to work [6]

Core Insights - Moomoo has launched the "Student Stock Showdown" challenge in collaboration with W!se to enhance financial literacy among high school students through interactive learning and simulated trading experiences [1][6]. Group 1: Initiative Overview - The challenge aims to engage thousands of high school students in New York State, providing a risk-free environment for developing investing skills through a simulated trading competition [2]. - Participants will have access to various online and offline investment courses to complement their learning, creating a comprehensive educational experience [2]. Group 2: Market Trends - There is a significant generational shift in investing, with Gen-Z starting to invest at an average age of 19, which is notably younger than previous generations [4]. - Moomoo's data indicates that the proportion of US clients aged 18–24 has increased from 8% in 2020 to 20% in 2025, with their average account balance rising over 24 times during the same period [4]. Group 3: Educational Tools and Features - Moomoo's paper trading feature allows users to trade with virtual funds under real-market conditions, helping them refine their investment strategies [5]. - This feature has been popular among millions of investors globally and is now being introduced to high school students through the challenge [5]. Group 4: Challenge Details - The "Student Stock Showdown" will run from October 14 to January 16, lasting 13 weeks, with participants using dedicated competition accounts on Moomoo's platform [6]. - The top three students will receive cash prizes up to US$2,500, along with trophies, certificates, and internship opportunities, while outstanding schools and educators will also be recognized [6]. Group 5: Organizational Background - Moomoo is a global investment and trading platform that provides user-friendly tools and insights to empower investors [8]. - As a subsidiary of Nasdaq-listed Futu Holdings, Moomoo operates in multiple countries and has received various accolades for its innovative approach to investing [9].

Core Insights - Moomoo has become the most downloaded trading app in Australia for 2025, surpassing all other share-trading platforms [1][2] - The platform has achieved significant growth in downloads, clients, and trading volume since its launch in 2022 [3] Company Performance - Moomoo's app has accumulated 193,000 downloads, leading the market ahead of competitors like CommSec Mobile with 188,000 downloads and Stake with 131,000 downloads [5] - The platform differentiates itself through advanced AI, professional-level trading tools, access to over 26,000 shares and ETFs, low fees, and extensive customer support [3][7] Market Position - Moomoo aims to maintain and enhance its leading position in the Australian and New Zealand markets into 2026 and beyond [4] - The company has already achieved the number one status in Singapore and Hong Kong, indicating a strong international presence [4][7]