作者：宏汇资产管理投资总监 郭家耀Golden Horse Financial News | The US stock market performed well on Monday, with signs of easing geopolitical tension. Coupled with market expectations of strong performance by US companies, the overall market trended upwards, with all three major indices closing with gains. The US dollar remained stable, with the yield on the US ten-year bond rising to 4.28%, gold prices trending positively, while oil prices showed a noticeable decline. Pre-market securities in the Hong Kong stock market generally rose, with expectations of the market opening higher following external trends. Individual developments in the mainland stock market yesterday saw the Shanghai Composite Index open lower but close higher, up 0.7% at market close. The trading volume of the Shanghai and Shenzhen stock markets also increased. The Hong Kong stock market maintained narrow fluctuations, with the index hovering around the 20,500 point level and a significant decrease in market turnover. Investors are watching for the results of the US general election and mainland policy news, expecting no breakthrough in the short term, with the index hovering between 20,200 and 21,200 points.
Industry News
Li Ning (02331) announced its third-quarter results, with a mid-single-digit decline in retail sales on the entire platform year-on-year. Offline channels saw a high single-digit decline, with retail channels experiencing a mid-single-digit decrease, and wholesale channels also reporting a high single-digit decrease. E-commerce virtual store business saw a mid-single-digit growth. As of the end of September, Li Ning had a total of 6,281 sales points in the mainland, a net increase of 42 compared to the end of the previous quarter, with a net increase of 41 so far this year. Among the net increase of 41 sales points, retail business saw a net decrease of 14, while wholesale business saw a net increase of 55. The number of Li Ning YOUNG sales points in the mainland totaled 1,459, a net increase of 21 from the end of the previous quarter, and a net increase of 31 since the beginning of the year. Li Ning's third-quarter sales performance continued to decline due to macroeconomic influences. It is believed that stronger and more effective stimulus measures for consumption are needed to reverse the impact of consumer downgrading on the company. The short-term upside potential for stock prices is limited.
(I am a licensed person of the China Securities Regulatory Commission, and neither I nor any related person holds the above-mentioned shares).
Author: Guo Jiayao, Director of Investment of Macrohedge Asset Management
