港股午评：恒指涨0.81%、科指涨0.99%，有色金属板块爆发，加密货币及新消费概念股走低

Market Overview - The Hong Kong stock market showed a mixed performance with the Hang Seng Index rising by 0.81% to 26,068.05 points, the Hang Seng Tech Index up by 0.99% to 5,654.62 points, and the National Enterprises Index increasing by 0.64% to 9,188.61 points [1] - Major technology stocks performed well, with Alibaba up 3.3%, Tencent up 0.82%, and JD Group up 1.29%, while Xiaomi and Meituan saw declines of 2% and 1.46% respectively [1] - The non-ferrous metals sector experienced significant gains, with Minmetals Resources and China Gold International leading the increases [1] - The People's Bank of China made a significant move to stabilize the currency, leading to declines in cryptocurrency-related stocks [1] Company News - Meituan reported third-quarter revenue of 95.5 billion yuan, a year-on-year increase of 2%, but its core local business operating profit turned negative with a loss of 14.1 billion yuan [2] - China Gas announced revenue of 34.481 billion HKD and a profit of 1.334 billion HKD for the six months ending September 30, 2025 [3] - Yingtong Holdings reported a revenue of 1.028 billion RMB, a decrease of 3.42%, but a net profit increase of 15.4% to 133 million RMB [3] - Jihai Resources achieved a revenue of 450 million RMB, a year-on-year increase of 23.41%, with a net profit of 88.127 million RMB, up 2.98% [3] - Yuhua Education reported an annual revenue of 2.497 billion RMB, a 5.4% increase, and a net profit of 930 million RMB, a significant increase of 133.2% [3] - Huitai Textile reported a revenue of 2.524 billion HKD, a decrease of 6.72%, and a net profit of 79.322 million HKD, down 25.77% [3] - New Higher Education Group reported an annual revenue of 2.599 billion RMB, a 7.78% increase, and a net profit of 829 million RMB, up 9.67% [3] - Huaxin Handbag International reported a revenue of 432 million HKD, a year-on-year increase of 22.55%, and a profit of 48.262 million HKD, up 78.88% [4] - Bay Area Development reported toll revenue for October from various highways, showing a year-on-year decrease [4] Institutional Insights - Huatai Securities indicated that the market is nearing a "bad news fully priced" state, suggesting limited downside potential and pointing to left-side layout opportunities [11] - GF Securities noted that the foundation of the Hong Kong bull market remains intact, with a potential for a "volatile upward" trend rather than a rapid increase, highlighting three key triggers for future performance [12] - Dongwu Securities mentioned that short-term risk factors in the Hong Kong market are decreasing, but a rebound confirmation requires catalysts, with current positions being attractive for long-term allocation [12]