"Hong Kong Stocks" Hang Seng Index futures settlement day opened high, up 199 points, Tencent and JD.com rise, NetEase falls 6%

AASTOCKS
2025.10.30 01:33

Multiple companies announced their quarterly results, and the market anticipates good news from the "Xi-Trump meeting," leading to a higher opening for Hong Kong stocks on the last trading day of the month. The Hang Seng Index opened up 199 points or 0.8%, at 26,545 points; the Hang Seng China Enterprises Index opened up 55 points or 0.6%, at 9,431 points; the Hang Seng Tech Index opened up 32 points or 0.5%, at 6,125 points.

The market expects Standard Chartered (02888.HK) to announce its quarterly results during the day. Standard Chartered opened up 1.1%. Bank of China (Hong Kong) (02388.HK) reported a 7.5% year-on-year increase in operating profit before impairment provisions for the first three quarters, with a third interim dividend of 29 cents, and its stock opened up nearly 0.8%. Bank of China (03988.HK) reported a 5% year-on-year increase in net profit for the third quarter, and its stock opened up 0.7%. Ping An Insurance (02318.HK) reported an 11.5% year-on-year increase in net profit for the first three quarters, and its stock opened up 2%. Prudential (02378.HK) reported a 13% year-on-year increase in new business profit at constant exchange rates for the third quarter, and its stock opened down 0.7%. Among other financial stocks, HSBC (00005.HK) opened up 2.9%, Hong Kong Exchanges and Clearing (00388.HK) opened up 1%, AIA (01299.HK) opened up 0.1%, and domestic insurance stock China Taiping (00966.HK) opened up 6%.

New Oriental (09901.HK) reported a 2% decrease in profit for the first fiscal quarter, expecting revenue growth of 9% to 12% in the next quarter, and its stock opened down 3.4%. Among other tech stocks, NetEase (09999.HK) opened down 6%, Alibaba (09988.HK) and Meituan (03690.HK) opened up 1.4% and 1.2%, respectively, Tencent (00700.HK), JD.com (09618.HK), Kuaishou (01024.HK), and Bilibili (09626.HK) opened up between 1.9% and 2.3%, Xiaomi (01810.HK) opened down 0.8%, and Baidu (09888.HK) opened flat at HKD 123.9. In the chip sector, SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) opened up over 2%. ASMPT (00522.HK) reported a 245% year-on-year increase in adjusted non-Hong Kong accounting profit for the third quarter, and its stock opened up 0.7%.

The China Passenger Car Association indicated that retail sales of new energy vehicles decreased by 8% month-on-month in the first 26 days of this month. BYD (01211.HK) opened down 0.8%, while Nio (09866.HK) and XPeng (09868.HK) opened up 2.8% and 3.3%, respectively, and Geely (00175.HK) opened up 1%. WH Group (00288.HK) reported an 8% year-on-year increase in net profit before fair value adjustments for the first three quarters, and its stock opened down 1.1%. Budweiser APAC (01876.HK) reported a 20% decrease in net profit for the first three quarters, and its stock opened down 0.6%.

In the pharmaceutical sector, Fosun Pharma (02196.HK) proposed to spin off its subsidiary Fosun Antengene for listing, and its stock opened up 0.4%. Gold stocks Zijin Mining (02899.HK) and China Gold International (02099.HK) opened up 3.3% and 2.7%, respectively In other stock news, Techtronic Industries (00669.HK) opened down 5%, while Shenhua (01088.HK) opened up 3.7%.

Contemporary Amperex Technology Co., Limited (03750.HK) opened up 5.3%. According to domestic media reports, leading battery manufacturers have recently been intensively distributing large orders for lithium iron phosphate. Contemporary Amperex Technology previously invested in Fujian Fulin Precision Machining Co., Ltd. (300432.SZ) subsidiary Jiangxi Shenghua to secure high-pressure dense lithium iron phosphate production capacity. Lithium iron phosphate manufacturers are quietly starting a new round of capacity expansion. Fujian Fulin Precision Machining recently announced that Jiangxi Shenghua plans to invest in the construction of a new high-pressure dense lithium iron phosphate project with an annual output of 350,000 tons in the Deyang-Abazhou Ecological Economic Industrial Park, with a total investment of 4 billion RMB

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