According to financial news on November 26 (Editor Hu Jiarong), today the three major indexes of Hong Kong stocks showed mixed results. By the close, the Hang Seng Index rose by 0.04%, closing at 19,159.20 points; the Technology Index fell by 0.31%, closing at 4,221.99 points; the Hang Seng China Enterprises Index fell by 0.16%, closing at 6,851.56 points.

Note: performance of Hang Seng Index.

The expectation of increased tariffs by Trump has raised market concerns.

In the early trading today, U.S. President-elect Trump stated that on the first day of his presidency next year, he would impose new tariffs of up to 25% on goods from Canada and Mexico by executive order. At the same time, he absurdly claimed that he would impose a 10% tariff on imports from China. This news has raised market concerns.

Affected by the above news, the Hang Seng Index fell to 19,054 points in early trading, and then slightly rebounded. By the close, the index was above 19,100 points.

In addition, looking at the short selling situation, after continuing to decline recently, the short selling ratio in the Hong Kong stock market has decreased, with the Hang Seng Index, Technology Index, and Hang Seng China Enterprises Index dropping to 15.93%, 15.17%, and 15.44% respectively.

Today's Market

From the market performance perspective, dining and photovoltaic stocks have strengthened, while cryptos, shipping, and auto stocks have weakened.

Dining stocks have gained renewed attention from investors, with Nayuki's Tea rising nearly 6%.

Among dining stocks, Helen's (09869.HK), Nayuki's Tea (02150.HK), and jiumaojiu (09922.HK) increased by 5.63%, 2.59%, and 2.16% respectively.

Note: Performance of dining stocks.

In terms of news, the deputy minister of the Ministry of Commerce, Sheng Qiuping, previously stated that the Ministry of Commerce would work with relevant departments to launch a batch of new policies in the consumer sector. Five cities will also introduce supporting policies. For instance, Shanghai and Guangzhou will implement support and reward policies for the first store launch and first exhibition, while Peking, Tianjin, Shanghai, and Chongqing will issue consumption vouchers for dining, cultural tourism, sports, and other services.

Most photovoltaic stocks rose, with Solargiga increasing over 3%.

Among photovoltaic stocks, Solargiga (00757.HK), gcl tech (03800.HK), and flat glass (06865.HK) rose by 3.54%, 3.03%, and 2.20% respectively.

Note: Performance of photovoltaic stocks

According to news from the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, a "Self-discipline Symposium for Foreign Trade Enterprises in the Photovoltaic Industry" organized by the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products was successfully held in Peking on the afternoon of November 22. President Zhang Yujing stated in his speech that the current global economic situation is complex and changeable, with opportunities and challenges coexisting, and cooperation and competition intertwined. China's photovoltaic industry, as a typical representative of the "new three samples" in foreign trade, is facing dual pressures of increasingly intense "involution" competition and frequent trade barriers in overseas markets.

Bitcoin price pulls back, boyaa drops nearly 15%.

Among the crypto concept stocks, boyaa (00434.HK), grandshores (01647.HK), and okg tech (01499.HK) dropped by 14.84%, 9.52%, and 9.41% respectively.

Note: Performance of crypto concept stocks.

In terms of news, Bitcoin price continues to fall. As of press time, it dropped 1.24%, reported at 92,546 USD.

Note: Trend of bitcoin prices.

Most shipping stocks adjusted, cosco shipping holdings fell over 4%.

In the shipping stocks, cosco shipping holdings (01919.HK), china mer port (00144.HK), and pacific basin (02343.HK) dropped by 4.17%, 2.38%, and 2.01% respectively.

Note: performance of shipping stocks.

In terms of news, John Kirby, the strategic communication coordinator for the USA National Security Council, stated that the ceasefire agreement between Lebanon and Israel is "close" to being reached, with significant narrowing of the differences between both sides regarding the ceasefire agreement, although some measures still need to be taken to facilitate its achievement. Affected by this news, market expectations for the resumption of operations in the Red Sea have heated up. Today's container shipping index (European line) main contracts fell over 11% during the day, closing down nearly 9%, hitting a new monthly low.

Note: Performance of the container shipping index.

Some auto stocks fell, with NIO down over 5%.

Among the auto stocks, NIO-SW (09866.HK), Guangzhou Automobile Group (02238.HK), and Great Wall Motor (02333.HK) dropped by 5.59%, 4.23%, and 2.22%, respectively.

Note: Performance of auto stocks.

In terms of news, NIO had the largest drop. Goldman Sachs lowered its net income forecast for NIO for 2024-2026 by 2%-13% to reflect sales, gross margin decline, and rising operating expenses. The target price was cut by 21.1% from 38 HKD to 30 HKD, as it expects NIO to face increased competition in the first quarter of next year, with increased market promotion and research and development costs, hence downgrading its rating from "neutral" to "sell."

Individual stocks are fluctuating.

Jiangsu Lopal Tech rises nearly 9% and is included in the Hong Kong stock connect.

Jiangsu Lopal Tech (09660.HK) rises by 8.75%, closing at 8.74 HKD. According to an announcement from the Shenzhen Stock Exchange yesterday, the list of eligible securities for the Hong Kong stock connect has been adjusted and will take effect from November 25th. As a dual-listed company with A+H shares, Jiangsu Lopal Tech can be quickly included in the Hong Kong stock connect after the price stabilization period ends, and November 25th will be its first trading day as a Hong Kong stock connect eligible stock.

Innovative Intelligence falls over 15% after previously soaring over 50%.

Innovative Intelligence (02121.HK) drops by 15.36%, having surged over 50% yesterday. According to reports, the company's stock price surge may be related to the recent boom in AI applications both domestically and internationally, as related AI application traffic data has significantly increased. The "October 2024 AI Industry Report" published by Gamma Data shows that global AI application traffic grew by 13.64% month-on-month in October, with total visits exceeding 6 billion.