Market Performance - Hang Seng Index (恒指) fell by 205 points or 0.8%, closing at 25,952 points[1] - Shanghai Composite Index (滬指) decreased by 16 points or 0.4%, ending at 3,960 points[1] - S&P 500 dropped by 80 points or 1.2%, closing at 6,771 points[2] Trading Volume - Total market turnover in Hong Kong was 239.986 billion HKD[1] - A-shares trading volume reached 852.9 billion CNY for Shanghai Composite and 1.06 trillion CNY for Shenzhen Composite[1] Currency and Monetary Policy - People's Bank of China conducted a 117.5 billion CNY reverse repo operation at a rate of 1.4%[1] - The RMB/USD midpoint was adjusted down by 18 points to 7.0885[1] Automotive Sales - Tesla's sales in China fell by 9.93% year-on-year, delivering 61,497 vehicles[3] - BYD's sales decreased by 12.7% year-on-year, with 436,900 vehicles delivered[3] - Geely's new energy vehicle sales surged by 63.6% year-on-year, reaching 177,900 vehicles[3] Corporate Earnings - Yum China reported Q3 revenue of 3.206 billion USD, a 4% increase year-on-year, with net profit down 5% to 282 million USD[3] - Country Garden's contract sales in October amounted to approximately 2.9 billion CNY, a 33% year-on-year decline[3]

Market Performance - Hang Seng Index (恒指) rose by 251 points or 1%, closing at 26,158 points[1] - Shanghai Composite Index (滬指) increased by 21 points or 0.6%, ending at 3,976 points[2] - Total market turnover reached HKD 228.68 billion[1] Economic Indicators - People's Bank of China conducted a reverse repurchase operation of CNY 78.3 billion at a rate of 1.4%[2] - China's October Manufacturing PMI fell to 50.6, slightly below the expected 50.7[2] - Logistics industry index for October was 50.7, down 0.5 percentage points month-on-month, indicating slight retraction but overall demand remains expansive[3] Corporate Developments - Chow Tai Fook (周大福) announced price adjustments for certain gold products due to new tax policies[4] - Starbucks (SBUX.US) will form a joint venture with Boyu Capital, with an investment of approximately USD 4 billion for a 60% stake[4] - Sa Sa (莎莎) expects net profit for the six months ending September to be between HKD 48.5 million and HKD 50.5 million, a year-on-year increase of 50% to 56%[4]

Market Performance - Hang Seng Index closed at 25,906 points, down 376 points or 1.4%[1] - National Index fell 178 points or 1.9%, closing at 9,168 points[1] - Hang Seng Tech Index decreased by 143 points or 2.4%, ending at 5,908 points[1] - Total market turnover was 257.612 billion HKD[1] Economic Indicators - China's official manufacturing PMI fell short of expectations, while the services PMI met expectations[1] - The People's Bank of China conducted a 355.1 billion RMB reverse repo operation at a rate of 1.4%[1] - The RMB/USD midpoint was adjusted down by 16 points to 7.0880[1] Corporate Performance - Top 100 real estate companies' sales totaled nearly 2.9 trillion RMB in the first ten months, a year-on-year decline of 16.3%[3] - HKEX reported an average daily trading volume of 1.54 million contracts for derivatives in Q3, a historical high[3] - FWD reported new business sales of 1.935 billion USD, up 37% year-on-year at constant exchange rates[4] - XPeng Motors delivered 42,013 vehicles in October, a record monthly high[4] - BYD's new energy vehicle production was 429,808 units in October, down 19.8% year-on-year[5]

Market Performance - Hang Seng Index (恒指) rose by 273 points or 1%, closing at 26,433 points[1] - Shanghai Composite Index (滬指) increased by 46 points or 1.2%, ending at 3,996 points[1] - S&P 500 gained 83 points or 1.2%, closing above 6,800 points for the first time[2] Economic Indicators - Overall exports in Hong Kong increased by 16.1% year-on-year, reaching 462.3 billion HKD in September[3] - Imports also rose by 13.6% year-on-year, totaling 512.5 billion HKD in September[3] - Trade deficit recorded at 50.2 billion HKD, equivalent to 9.8% of import value[3] Monetary Policy - People's Bank of China conducted a 337.3 billion RMB reverse repurchase operation at a rate of 1.4%[1] - Net injection of 148.3 billion RMB on the day due to 189 billion RMB reverse repos maturing[1] Corporate Updates - China Coal Energy (中煤能源) reported Q3 revenue of 36.148 billion RMB, down 23.8% year-on-year[4] - Net profit attributable to shareholders was 4.78 billion RMB, a decrease of 1% year-on-year[4]

Market Performance - Hang Seng Index (HSI) rose by 192 points or 0.7%, closing at 26,160 points, with a peak of 26,239 points during the day[1] - The Shanghai Composite Index increased by 27 points or 0.7%, closing at 3,950 points, marking a ten-year high[2] - The S&P 500 gained 53 points or 0.8%, closing at 6,791 points, with all three major US indices reaching new closing highs[2] Economic Indicators - The People's Bank of China conducted a 168 billion yuan seven-day reverse repurchase operation, maintaining the interest rate at 1.4%[2] - The RMB central parity rate was adjusted down by 10 pips to 7.0928 against the US dollar[2] - In the first three quarters of 2025, actual foreign direct investment (FDI) in China was 573.75 billion yuan, a decrease of 10.4% year-on-year[5] Corporate Earnings - China National Pharmaceutical Group reported a revenue of 431.479 billion yuan for the first three quarters, a year-on-year decline of 2.5%[6] - Luoyang Molybdenum Co. reported a revenue of 145.485 billion yuan, a year-on-year decrease of 6%, but net profit increased by 72.6% to 14.28 billion yuan[6] - WuXi AppTec achieved a revenue of 32.857 billion yuan, an 18.6% year-on-year increase, with net profit rising by 84.8% to 12.076 billion yuan[6]

截至 10 月 22 日，社保基金第三季末已現身 43 隻個股，合計市值超過 155 億元 人民幣。從已披露的持倉來看，社保基金第三季的操作呈現出「龍頭為基，科 技為矛」的鮮明特徵。其持倉結構在堅守醫藥、消費等傳統龍頭的同時，正開 始向通信、電子等科技創新領域傾斜。 白宮周四表示，美國總統特朗普已赦免加密貨幣交易所幣安(Binance)創辦人趙 長鵬，其此前承認在領導該公司期間協助洗錢。白宮新聞秘書萊維特表示，特 朗普行使憲法權力，赦免趙長鵬。於 2023 年 11 月，趙長鵬對該案認罪，並同 意辭去幣安行政總裁一職，是該公司與司法部達成的 43 億美元和解協議的一部 分。 港股點評 2025年10月24日9:30 a.m 恒指跌 245 點，滬指升 8 點，標普 500 升 39 點 恒指低開 129 點，初段跌幅收窄至 79 點見 25,947 點後向下，中午前曾跌 373 點 見 25,653 點，全日跌 245 點或 0.9%，收 25,781 點；國指跌 78 點或 0.8%，收 9,223 點；恒生科技指數跌 84 點或 1.4%，收 5,923 點。大市全日成交總額 2,275.36 億元。 人 ...

Market Performance - Hang Seng Index (恒指) fell by 245 points or 0.9%, closing at 25,781 points[1] - Shanghai Composite Index (滬指) decreased by 2 points or 0.07%, ending at 3,913 points[1] - S&P 500 dropped by 35 points or 0.5%, closing at 6,699 points[2] Trading Volume - Total trading volume in the Hong Kong market reached 227.54 billion HKD[1] - Shanghai Stock Exchange's trading volume was 741.5 billion CNY[1] - Shenzhen Component Index (深證成指) recorded a trading volume of 926.3 billion CNY[1] Currency and Monetary Policy - The central parity rate of RMB against USD was adjusted down by 24 points to 7.0954[1] - People's Bank of China conducted a 138.2 billion CNY reverse repo operation at a rate of 1.4%[1] - Net injection of liquidity was 94.7 billion CNY after 43.5 billion CNY reverse repos matured[1] Corporate Earnings - Sands China (金沙中國) reported a net revenue increase of 7.5% year-on-year to 1.9 billion USD for Q3[3] - China Unicom (中國聯通) posted a revenue of 292.985 billion CNY, up 1% year-on-year, with a net profit growth of 5.1%[3]

Market Performance - Hang Seng Index (恒指) rose by 168 points or 0.7%, closing at 26,027 points[1] - Shanghai Composite Index (滬指) increased by 52 points or 1.4%, closing at 3,916 points[1] - Total market turnover in Hong Kong was 264.657 billion HKD[1] Currency and Monetary Policy - The RMB/USD central parity rate was adjusted up by 43 points to 7.0930, reaching a one-year high[1] - The People's Bank of China conducted a 1,595 billion RMB reverse repo operation with a rate of 1.4%, maintaining the previous level[1] A-Share Market Highlights - Shenzhen Component Index (深證成指) rose by 264 points or 2.1%, closing at 13,077 points with a turnover of 1.04 trillion RMB[1] - ChiNext Index (創業板指) increased by 90 points or 3%, closing at 3,083 points with a turnover of 475.6 billion RMB[1] Corporate Earnings - China Railway (中國中鐵) reported new contracts worth 476.23 billion RMB in Q3, with a cumulative total of 1.58 trillion RMB for the first three quarters, up 3.7% year-on-year[2] - China Telecom (中國電信) reported Q3 revenue of 394.3 billion RMB, a slight increase of 0.6% year-on-year, with net profit growing by 5% to 30.773 billion RMB[3] Growth in Specific Sectors - Pop Mart (泡泡瑪特) reported a revenue growth of 245%-250% year-on-year for Q3, with overseas revenue increasing by 365%-370%[3]

Market Performance - Hang Seng Index (恒指) rose by 611 points or 2.4%, closing at 25,858 points[1] - National Index (國指) increased by 220 points or 2.5%, closing at 9,232 points[1] - Hang Seng Tech Index (恒生科技指數) gained 172 points or 3%, closing at 5,933 points[1] - Total market turnover reached HKD 239.16 billion[1] Economic Indicators - Unemployment rate rose from 3.7% to 3.9% from June-August to July-September, exceeding market expectations[3] - China's GDP grew by 4.8% year-on-year in Q3, with a year-to-date growth of 5.2%[3] - Industrial production in September increased by 6.5% year-on-year, surpassing expectations[3] - Fixed asset investment decreased by 0.5% year-on-year, contrary to the expected increase of 0.1%[3] Corporate Performance - JD.com (京東-SW) reported over 52,000 brands with sales growth exceeding 300% year-on-year, and AI-related products saw nearly 200% growth[4] - Contemporary Amperex Technology Co. Ltd. (寧德時代) achieved revenue of CNY 283.072 billion, a year-on-year increase of 9.3%[4] - China Mobile (中國移動) reported revenue of CNY 794.7 billion for the first three quarters, a slight increase of 0.4% year-on-year[5]

Market Performance - Hang Seng Index (HSI) fell by 641 points or 2.5%, closing at 25,247 points[1] - Shanghai Composite Index (SSE) dropped 76 points or nearly 2%, closing at 3,839 points[1] - Hang Seng Tech Index decreased by 243 points or 4.1%, closing at 5,760 points[1] - Total market turnover was HKD 314.62 billion[1] Economic Indicators - Anticipation for China's Q3 GDP and September economic data release on October 20[1] - Renminbi midpoint rate adjusted up by 19 points to 7.0949 against the US dollar, reaching a one-year high[1] Corporate Updates - China Life Insurance projected net profit for Q3 between CNY 156.785 billion and CNY 177.689 billion, an increase of 50%-70% year-on-year[4] - Zijin Mining reported a 11.1% year-on-year increase in gold production to 32 tons, with revenue of USD 3.415 billion[4] - Chow Tai Fook's retail value grew by 4.1% year-on-year, with same-store sales in mainland China increasing by 7.6%[4] Trade Relations - US President Trump confirmed a meeting with Chinese President Xi Jinping in two weeks, indicating a more conciliatory tone in US-China trade negotiations[2] - Trump signed an executive order expanding tax credits for US automotive production and imposing new tariffs on imported heavy trucks and parts[3]