Guoxin Securities Hongkong·2025-11-28 07:02Market Overview - The Hang Seng Index closed at 25,946, up 0.07% for the day and 29.34% year-to-date[4] - The Nikkei 225 index rose 1.23%, driven by strong performance in technology stocks, with a year-to-date increase of 25.75%[11] - The S&P 500 remained unchanged, with a year-to-date gain of 15.83%[4] Sector Performance - Toy and leisure products led the gains in Hong Kong, with companies like Brio and Pop Mart rising over 6%[10] - Consumer electronics stocks also performed well, with TCL Electronics increasing by over 6%[10] - New energy vehicle stocks saw significant gains, with companies like Leap Motor and Chery Auto rising over 4%[10] Economic Indicators - China's industrial enterprises reported a total profit of 59,502.9 billion yuan, a year-on-year increase of 1.9%[15] - The automotive industry produced 27.33 million vehicles from January to October, reflecting an 11% year-on-year growth[15] - The profit margin in the automotive sector was reported at 4.4%, lower than the average of 6% for downstream industrial enterprises[16] Global Developments - President Putin expressed a willingness to negotiate peace regarding the Ukraine conflict, indicating potential future agreements[15] - The European Central Bank's October meeting revealed a consensus on maintaining the current 2% interest rate, though there were differing opinions on the need for further cuts[15] - Morgan Stanley forecasts that emerging markets will continue to rise, with expected returns of around 8% by mid-2026[15]