宝通证券：港股事件点评：港股點評

Market Performance - The Hang Seng Index opened 17 points higher, dropped 105 points to 25,822 points in the early session, then rebounded, and closed 17 points or less than 0.1% higher at 25,945 points. The H-share Index rose 2 points or 0.03% to 9,164 points, while the Hang Seng Tech Index fell 20 points or 0.4% to 5,598 points. The total turnover of the market was HK$204.728 billion [1] - The Shanghai Composite Index closed slightly higher at 3,875 points, up 11 points or 0.3%, with a turnover of RMB698.5 billion. The Shenzhen Component Index closed at 12,875 points, down 32 points or 0.3%, with a turnover of RMB1.01 trillion. The ChiNext Index closed at 3,031 points, down 13 points or 0.4%, with a turnover of RMB494.7 billion [2] - The three major US stock indexes rose for the fourth consecutive trading day before the Thanksgiving holiday. The Dow Jones Industrial Average closed 314 points or 0.7% higher at 47,427 points, the S&P 500 Index rose 46 points or 0.7% to 6,812 points, and the Nasdaq Composite Index rose 189 points or 0.8% to 23,214 points [2] Policy and Currency - The People's Bank of China conducted RMB356.4 billion of seven-day reverse repurchase operations in the open market on the 27th, with the operating rate remaining unchanged at 1.4%. There were RMB300 billion of reverse repurchases maturing, resulting in a net injection of RMB56.4 billion. The central parity rate of the RMB against the US dollar was raised by 17 points to 7.0779 per US dollar, hitting a new high since October 14, 2024 [2] Industry News - OPEC+ may maintain the oil production level in the first quarter of next year at its meeting on the 30th and reach an agreement on the mechanism for evaluating the maximum production capacity of member countries. The production targets of eight countries including Saudi Arabia were increased by about 2.9 million barrels per day from April to December and they agreed to suspend production increases in the first quarter of next year at the previous meeting [3] Company News - Ernst & Young's report shows that the Hong Kong IPO market has strongly recovered this year. The number and fundraising amount of IPOs in the A-share and Hong Kong markets account for 16% and 33% of the global total respectively. The fundraising amount of the Hong Kong Stock Exchange is expected to reach HK$280 billion, a significant year-on-year increase of 218%, breaking through the HK$200 billion mark again after four years and reaching the second-highest level in the past five years. The financing scale ranks first globally, surpassing the New York Stock Exchange in the US and India (National Stock Exchange and Bombay Stock Exchange). The number of new listings in Hong Kong is expected to exceed 100 this year, a 43% increase from last year [4] - Dickson Concepts (00113.HK) reported its interim results for the six months ended September 30. Its turnover was HK$973 million, up 1.2% year-on-year. Net profit was HK$150 million, up 14% year-on-year. Earnings per share were 38.9 cents. A total dividend of 30 cents was declared, including an interim dividend of 10 cents and a special dividend of 20 cents, compared with an interim dividend of 10 cents in the same period last year [4]