Market Overview - The Hang Seng Index faces resistance at 27,381 points due to the Federal Reserve's hawkish stance on interest rate cuts, with expectations for fewer cuts in 2026 than previously anticipated [2] - The recent meeting between the US and Chinese leaders has eased tensions temporarily, with the US suspending a 10% tariff on fentanyl for one year [2] - China's third-quarter economic performance has further cooled, aligning with the "14th Five-Year Plan" which emphasizes expanding domestic demand and promoting technological self-reliance [2] Sector Focus - The total online retail sales during the "Double 11" shopping festival in 2025 are projected to reach approximately 1.7 trillion yuan, reflecting a year-on-year growth of 14.2% [8] - The banking sector is reportedly offering loans to businesses and individuals to meet lending targets, indicating a slowdown in effective loan demand [8] - The insurance sector is expected to benefit from strong investment returns in the third quarter due to robust performance in the A-share market [7] Company News - Tencent Music's adjusted profit for the third quarter increased by 32%, surpassing expectations, with total revenue reaching 8.463 billion yuan, a year-on-year growth of 20.64% [10] - Semiconductor manufacturer SMIC is reportedly prioritizing chip distribution to meet the demands of major companies like Huawei amid ongoing supply shortages [10] - Foxconn's third-quarter net profit rose by 17% to 57.673 billion NTD, driven by increased shipments of Apple iPhones and AI servers [9] Economic Indicators - The US Federal Reserve announced a 0.25% interest rate cut, bringing the target range to 3.75% to 4.00%, with further cuts remaining uncertain due to internal disagreements [4] - The global dividend payout in the third quarter reached a record high of 94 billion USD in Hong Kong, with a core growth rate of 15.4% [8] - The International Energy Agency (IEA) predicts that global oil consumption may continue to grow until 2050, with a projected increase of 13% [9]