On November 7th, according to Caixin (Edited by Hu Jiarong), the three major Hong Kong stock indices opened low and closed high. As of the close, the Hang Seng Index rose by 2.02% to close at 20953.34 points; the technology index rose by 2.25% to close at 4677.64 points; the Hang Seng China Enterprises Index rose by 2.49% to close at 7546.95 points.

Note: performance of Hang Seng Index.

The Hong Kong stock market's strength today benefited mainly from multiple bullish factors. Firstly, on the 6th, the People's Bank of China held a symposium for foreign financial institutions to listen to their opinions and suggestions, and to further optimize the business environment and promote high-level opening up of the financial industry.

In addition, at the '2024 Intelligent Transportation Shanghai Forum' held during the 7th China International Import Expo, officials from the Ministry of Transportation and Science and Technology revealed recent work initiatives. These include: formulating the implementation opinions of 'Artificial Intelligence + Intelligent Transportation'; researching and improving the construction of an artificial intelligence innovation platform in the field of transportation, promoting scenario-based research and development; strengthening organized scientific research mechanisms, exploring initiatives to enhance autonomous driving, and improving quality standards and implementing various actions to enhance standards.

Today's Market

From market performance, most individual stocks such as real estate, brokerage, banks, and dining show strength, while many golden industrial concept stocks are weakening.

Most real estate stocks are performing well, with Shimao Group rising nearly 30%.

In real estate stocks, Shimao Group (00813.HK), R&F Properties (02777.HK), Radiance Holdings (09993.HK) rose by 29.27%, 18.54%, and 18.06% respectively.

Note: performance of real estate stocks.

On the news front, since September, various central departments have accurately implemented a series of 'real estate policy combinations,' showing significant policy effectiveness. Data from the Ke Chuang Research Center shows that in October, the TOP100 real estate companies achieved a sales turnover of 435.49 billion yuan, a 73% increase from the previous month, reaching the second-highest performance scale of the year. Year-on-year growth was 7.1%, marking the first monthly performance year-on-year positive growth of the year. In addition, data from the Ministry of Housing and Urban-Rural Development's 'National Real Estate Market Monitoring System' shows that in October, the total transaction volume of new commercial housing and second-hand houses nationwide increased by 3.9% compared to the same period last year, achieving growth for the first time after eight consecutive months of decline since February this year.

In the A-share market, trading is active with China Merchants Securities rising over 18%.

Among brokerage stocks, China Merchants Securities (06099.HK), CITIC Securities (06030.HK), and CITIC Construction Investment Securities (06066.HK) rose by 18.12%, 14.53%, and 11.41% respectively.

Note: Performance of brokerage stocks

On the news front, since October, the A-share market turnover has remained high, with active market trading. Orient Securities expects that the brokerage firms' fourth-quarter performance growth rate will be significantly higher than that of the third quarter. Looking at business elasticity, proprietary equity trading responds first as the market rises, sustained high trading volume will drive brokerage business growth, along with the improving stock market, the prosperity of wealth management business is expected to rise, brokerage ROE may continue to rise, and fundamentals are positive.

Institutions believe that insurance stock valuations are expected to continue to rise, with New China Life Insurance rising over 9%.

In the insurance sector, New China Life Insurance (01336.HK), Ping An Insurance (02318.HK), and China Taiping (00996.HK) rose by 9.41%, 8.66%, and 6.37% respectively.

Note: Performance of insurance stocks.

In terms of news, GF Securities pointed out that the insurance third-quarter reports have been disclosed, overall performance exceeded expectations, with profits doubling in the single third quarter, while the pace of value growth continued to expand. Moreover, the central bank's reverse repurchase operation is expected to drive the equity market and long-term interest rates to continue warming up, with insurance stocks' valuation expected to continue rising. It is recommended to actively pay attention to the insurance sector.

Benefiting from policy expectations in the dining sector, Jiumaojiu rose by over 13%.

In the dining sector, Helen's (09869.HK), Jiumaojiu (09922.HK), and Haidilao (06862.HK) rose by 13.31%, 12.98%, and 9.27% respectively.

Note: The performance of dining stocks.

Regarding the news, Sheng Qiuping, Deputy Minister of the Ministry of Commerce, recently stated that the Ministry of Commerce will work with relevant departments to introduce a batch of new policies in the consumer sector. Five cities will also launch supporting policies. For example, Shanghai and Guangzhou will introduce policies to support and reward first stores, first launches, and first exhibitions; Beijing, Tianjin, Shanghai, and Chongqing will issue consumer vouchers for dining, culture, sports, and other services.

Some golden industrial concept stocks weakened, with Tongguan Gold falling by over 2%.

Among the gold stocks, Tongguan Gold (00340.HK), Shandong Gold (01787.HK), and Zijin Mining Group (02899.HK) fell by 2.02%, 1.73%, and 1.68% respectively.

Note: Performance of gold stocks

On the news front, in the US presidential election, the victory of Republican candidate Trump has triggered a market reassessment of the US dollar. The market generally believes that Trump's economic agenda and tariff policies will strengthen the strong position of the US dollar. As the US dollar is gaining strength, this is detrimental to the price of gold since gold is mainly priced and traded in dollars. Therefore, the strength of the US dollar directly leads to the decline in the price of gold.

Impacted by this news, the overnight COMEX gold price fell by nearly 3% intraday, marking the largest decline since June 7th this year. As of the time of this report, it decreased by 0.25%, to $269.60.

Note: Performance of COMEX gold today

Southbound funds.

Today, there was an inflow of 1.183 billion Hong Kong dollars in southbound funds. Since the beginning of this year, a total of 598 billion Hong Kong dollars has been invested.

Note: Performance of Southbound funds

Individual stocks are fluctuating.

Aluminum Corporation of China rose more than 5%. It is reported that Indonesia may plan to implement a new ban on mineral resources.

Aluminum Corporation of China (02600.HK) rose by 5.57%, closing at HK$5.50. In terms of news, at the recently opened 9th Asia-Pacific Stainless Steel Industry Conference, the Nickel Miners Association of Indonesia revealed that Indonesia plans to follow the previous nickel ore export ban by implementing a new export ban on 12 types of mineral resources including bauxite, aiming to promote downstream development of the domestic industry. Sealand Securities believes that in the short term, the supply of bauxite remains tight, with bauxite shipments from Guinea not yet fully restored, driving the continuous rise in domestic and foreign alumina prices, benefiting companies with integrated operations significantly.

China Tourism Group Duty Free Corporation rose nearly 9% and signed a cooperation memorandum with Vietnam IPP Group.

China Tourism Group Duty Free Corporation (01880.HK) rose by 8.83%, closing at HK$61.65. In terms of news, China Tourism Group Duty Free Corporation announced that it has signed a cooperation memorandum with Vietnam Imex Pan Pacific Group, formally establishing a strategic partnership.