Summary of Conference Call Notes Industry Overview - The conference call primarily discusses the performance of various companies listed on the Hong Kong Stock Exchange, focusing on their stock prices, trading volumes, and market activity. Key Companies and Their Performance 1. **Tencent Holdings Limited (TCH 700)** - Current Price: HK$517.50, Price Change: +4.4% - Notional Traded: US$751.0 million, 20D Avg: US$608.8 million - 20D ATM Volatility: 43%, 100D C/P Ratio: 1.08 [1] 2. **Alibaba Group Holding Ltd. (ALB 9988)** - Current Price: HK$131.20, Price Change: +5.8% - Notional Traded: US$594.2 million, 20D Avg: US$456.0 million - 20D ATM Volatility: 43%, 100D C/P Ratio: 1.09 [1] 3. **XiaoMi Corporation (MIU 1810)** - Current Price: HK$50.60, Price Change: -1.5% - Notional Traded: US$358.6 million, 20D Avg: US$317.0 million - 20D ATM Volatility: 45%, 100D C/P Ratio: 1.11 [1] 4. **Hong Kong Exchanges and Clearing Limited (HEX 388)** - Current Price: HK$385.00, Price Change: +3.3% - Notional Traded: US$293.8 million, 20D Avg: US$160.6 million - 20D ATM Volatility: 37%, 100D C/P Ratio: 1.21 [1] 5. **Meituan Dianping (MET 3690)** - Current Price: HK$144.50, Price Change: +2.4% - Notional Traded: US$253.3 million, 20D Avg: US$289.2 million - 20D ATM Volatility: 43%, 100D C/P Ratio: 1.09 [1] 6. **BYD Company Limited (BYD 1211)** - Current Price: HK$415.60, Price Change: +6.9% - Notional Traded: US$178.1 million, 20D Avg: US$149.2 million - 20D ATM Volatility: 50%, 100D C/P Ratio: 1.13 [1] 7. **Ping An Insurance (Group) Company of China, Ltd. (PAI 2318)** - Current Price: HK$48.30, Price Change: +3.7% - Notional Traded: US$99.9 million, 20D Avg: US$81.7 million - 20D ATM Volatility: 52%, 100D C/P Ratio: 1.11 [1] 8. **HSBC Holdings Plc. (HKB 5)** - Current Price: HK$90.00, Price Change: +2.8% - Notional Traded: US$97.0 million, 20D Avg: US$82.3 million - 20D ATM Volatility: 41%, 100D C/P Ratio: 0.89 [1] 9. **JD.com, Inc. (JDC 9618)** - Current Price: HK$139.90, Price Change: +6.0% - Notional Traded: US$94.7 million, 20D Avg: US$89.5 million - 20D ATM Volatility: 46%, 100D C/P Ratio: 1.14 [1] 10. **Semiconductor Manufacturing International Corp. (SMC 981)** - Current Price: HK$44.45, Price Change: +3.3% - Notional Traded: US$68.5 million, 20D Avg: US$70.0 million - 20D ATM Volatility: 49%, 100D C/P Ratio: 1.39 [1] Trading Activity Insights - The most active stocks in terms of notional traded include Tencent, Xiaomi, and Alibaba, indicating strong market interest and trading volume. - The call options for Tencent and Alibaba show significant trading activity, with notable volumes in the May-25 expiry options [1]. Volatility and Market Sentiment - The 3-month ATM volatility for the top stocks indicates varying levels of market sentiment, with BYD showing the highest volatility at 50% and China Mobile at 38% [1]. - The call/put ratio for the stocks suggests a bullish sentiment in the market, particularly for Tencent and Alibaba, which have higher call volumes compared to puts [1]. Additional Observations - The data reflects a general upward trend in stock prices for several major companies, with notable increases in trading volumes compared to previous averages. - The conference call highlights the importance of monitoring market volatility and trading patterns to identify potential investment opportunities and risks [1].