Market Performance - The Hang Seng Index rose by 0.65% to 26,027.55 points, while the Hang Seng Technology Index increased by 1.26% to 6,007.94 points, and the Hang Seng China Enterprises Index climbed by 0.76% to 9,302.66 points on October 21 [2][3] - The total market turnover was HKD 264.7 billion, showing a slight recovery compared to the previous trading day, with net inflow from southbound funds amounting to HKD 1.171 billion [2] Company Highlights - Pop Mart experienced a significant drop of 8.08% on October 21, but its stock price has increased by 180.46% since the beginning of 2025. The company reported a year-on-year revenue growth of 245% to 250% for Q3 2025, with domestic revenue growing by 185% to 190% and overseas revenue by 365% to 370% [5] - Semiconductor company SMIC saw its stock rise by 3.13%, with a year-to-date increase of 132.86%. The company is benefiting from a surge in DDR4 memory prices, which have more than doubled this year, presenting significant business opportunities for domestic manufacturers [9] - China Life Insurance's stock rose by 6.06% following a profit forecast announcement, projecting a net profit of approximately RMB 156.785 billion to RMB 177.689 billion for the first three quarters of 2025, representing a year-on-year growth of 50% to 70% [13] ETP Market Insights - As of September 2025, Hong Kong's ETP market ranked third globally in average daily turnover, surpassing South Korea and Japan. The total assets under management for ETPs grew by 34.1% year-on-year to HKD 653.5 billion [14] - The growth in the ETP market is attributed to the popularity of technology-focused ETFs, particularly the flagship Hang Seng Technology Index ETP, and increased investor participation through the Hong Kong Stock Connect [14] - The number of actively managed ETFs listed in Hong Kong reached 31 by September 2025, up from 26 at the end of 2024, with a total market value of approximately HKD 23.7 billion, reflecting a 143% increase from HKD 9.8 billion in 2024 [16]