Market Overview - On October 31, the temporary truce in the China-U.S. trade war led to profit-taking in Hong Kong stocks, with the Hang Seng Index falling by 376 points (1.4%) to close at 25,906 points[1] - The Hang Seng Tech Index dropped by 143 points (2.4%) to 5,908 points, with total market turnover decreasing to HKD 257.6 billion[1] - The Shanghai Composite Index also declined, down 32 points to 3,954 points[1] Sector Performance - Semiconductor stocks were under pressure, with SMIC (981 HK) down 5.3% and Hua Hong (1347 HK) down 7.4%[1] - BYD (1211 HK) reported a 32.6% year-on-year decline in Q3 earnings, leading to a 3.4% drop in its stock price, which negatively impacted peers[1][3] U.S. Market Dynamics - U.S. stock indices rebounded on strong earnings from tech giants, with the Dow Jones up 40 points (0.09%) to 47,562 points, and the Nasdaq rising 143 points (0.61%) to 23,724 points[2] - Amazon (AMAZ US) reported Q3 earnings exceeding expectations, with cloud service sales up 20% year-on-year to USD 33 billion, marking the largest growth since 2022[2] Economic Indicators - China's manufacturing PMI for October was reported at 49, below the expected 49.6, indicating a slowdown in manufacturing activity[2] - The new orders index fell by 0.9 percentage points, and the raw materials inventory index decreased by 1.2 percentage points[2] Industry Insights - The automotive sector faced challenges, with BYD's net profit for Q3 at HKD 7.82 billion, down 32.6% year-on-year, and a 7.5% decline in net profit for the first three quarters[3] - The renewable energy sector showed volatility, with some stocks like Xinyi Solar (968 HK) and Harbin Electric (1133 HK) recording weekly gains of 3.2% and 7.4%, respectively[3]
中泰国际每日晨讯-20251103
ZHONGTAI INTERNATIONAL SECURITIES·2025-11-03 02:33