中国香港，全球第三！

Market Performance - The Hong Kong stock market showed strong performance on October 21, with the Hang Seng Index rising by 0.65% to 26,027.55 points, and the Hang Seng Technology Index increasing by 1.26% to 6,007.94 points [2][3] - The total market turnover for the day was HKD 264.7 billion, showing a slight recovery compared to the previous trading day, with net inflow from southbound funds amounting to HKD 1.171 billion [2] Company Highlights - Pop Mart experienced a significant drop of 8.08% on October 21, despite a remarkable cumulative increase of 180.46% in its stock price since the beginning of 2025. The company reported a year-on-year revenue growth of 245% to 250% for Q3 2025, with domestic revenue increasing by 185% to 190% and overseas revenue soaring by 365% to 370% [4] - Semiconductor company SMIC saw its stock rise by 3.13%, with a year-to-date increase of 132.86%. The current stock price is HKD 74.05, down from a 52-week high of HKD 93.5. The surge in memory prices, particularly DDR4, is expected to benefit domestic manufacturers, with analysts highlighting SMIC's investment value in the semiconductor sector [7] - China Life Insurance's stock rose by 6.06% following a profit forecast announcement, estimating a net profit of approximately RMB 156.785 billion to RMB 177.689 billion for the first three quarters of 2025, representing a year-on-year growth of 50% to 70% [10] ETP Market Insights - As of September 2025, Hong Kong's ETP market ranked third globally in average daily turnover, surpassing South Korea and Japan. The total assets under management for ETPs grew by 34.1% year-on-year to HKD 653.5 billion [10] - The growth in the ETP market is attributed to the popularity of technology-focused ETFs, particularly the flagship Hang Seng Technology Index ETP, and increased investor participation through the Hong Kong Stock Connect [10] - Active ETFs have become a focal point in the global market in 2025, with inflows reaching USD 183 billion in the first half of the year. The number of active ETFs listed in Hong Kong increased to 31 by September 2025, with a total market value of approximately HKD 23.7 billion, reflecting a 143% growth from the previous year [11]