2025-11-19 03:35Market Performance - Hang Seng Index (恒指) fell by 454 points or 1.7%, closing at 25,930 points[1] - Shanghai Composite Index (滬指) decreased by 32 points or 0.8%, ending at 3,939 points[1] - S&P 500 dropped by 55 points or 0.8%, closing at 6,617 points, marking the longest losing streak since August[2] Trading Volume and Currency - Total market turnover in Hong Kong was HKD 242.11 billion[1] - People's Bank of China conducted a reverse repurchase operation of CNY 407.5 billion at a rate of 1.4%[1] - The RMB/USD midpoint was adjusted down by 40 pips to 7.0856[1] Company Performance - Xiaomi (01810.HK) reported a non-IFRS net profit increase of 80.9% year-on-year to CNY 11.311 billion, with revenue rising 22.3% to CNY 113.121 billion[2] - Pinduoduo (PDD.US) saw a stock price drop of 7.3% after reporting Q3 revenue of CNY 108.28 billion, below market expectations[3] - Baidu (09888.HK) reported a net loss of CNY 11.232 billion for Q3, compared to a net profit of CNY 7.632 billion in the same period last year[3] Regulatory and Economic Factors - Concerns over high valuations in AI-related stocks contributed to the decline in technology stocks[2] - Electricity rates in Hong Kong are set to decrease by an average of 3.7 cents per kWh starting January 2026[2]