Market Overview - The Hang Seng Index is expected to find short-term support around the 25,000 point level, influenced by the Federal Reserve's hawkish stance on interest rate cuts and mixed signals from officials regarding future rate paths [2] - The recent meeting between the US and Chinese leaders has temporarily eased tensions, with the US canceling certain tariffs, but core issues remain unresolved [2] - China's economic performance continues to show signs of cooling, with the third quarter results indicating a need for policies to boost domestic demand and technological self-reliance [2] Sector Focus - The China Securities Regulatory Commission is seeking public opinion on a pilot program for commercial real estate investment trusts (REITs), clarifying regulatory responsibilities [3] - OPEC+ has confirmed a pause in production increases for the first quarter of 2026, amid concerns of oversupply in the oil market [3] Company News - Meituan reported a third-quarter adjusted loss of 16 billion RMB, which was worse than expected, and is projected to continue incurring losses in the final quarter [3] - Baidu is reportedly initiating large-scale layoffs [3] - China Gas Holdings experienced a 24% drop in interim profits and a 2% decline in revenue [3] - Standard & Poor's downgraded Vanke's rating to CCC- and placed it on a negative watch list, indicating increased risk of restructuring [3][8] Economic Indicators - China's manufacturing PMI for November was reported at 49.2, indicating continued contraction for the eighth consecutive month, while the non-manufacturing PMI fell to 49.5, also below expectations [7] - The National Development and Reform Commission emphasized the importance of expanding domestic demand to counter external uncertainties [7] - The Ministry of Industry and Information Technology is advocating for the regulation of irrational competition in the power and energy storage battery industries [7] International Market Trends - The US Federal Reserve announced a 0.25% interest rate cut, lowering the target range to 3.75% to 4.00%, but indicated that further cuts are not guaranteed due to internal disagreements [3] - Global oil prices are expected to face upward pressure limitations due to an oversupply situation, as confirmed by OPEC+ [3][8]

格隆汇11月28日｜比亚迪(1211.HK)今日在港推出全新中型纯电房车BYD SEAL 6，正式进军本地中型轿 车市。在政府"电动车首次登记税宽减计划"(一换一计划)下，建议零售价15.8万港元起。BYD SEAL 6现 已于香港正式接受预订，备有入门版及高配版两款型号以供选择。入门版"一换一"售价15.8万港元，连 税价17.538万港元；高配版"一换一"售价17.8万港元，连税价21.258万港元。 ...