Hong Kong and China had a “boring day” according to a mainland broker, as volumes were low. A smart amount of headlines about the increase in COVID cases in China overnight with 843 new cases and 6632 new asymptomatic cases. And yet, we don’t see closures in Shanghai, do we? The economic result is too great. There are no signs of social distancing if you look at the images of the Hong Kong Sevens tournament. Macau eased restrictions on visitors overnight. Human trials in China.
Quite kind to today’s news, October EV sales now account for 30% of car sales, with EV sales at 676,000 compared to 675,000 in September, up particularly year-on-year. Total auto sales increased 11% year-over-year to $2. 191 billion, but -4. 6% month-over-month. After the shutdown, BYD announced the launch of its first luxury style, while Geely and Renault agreed to marry in engine production. The maximum traded in Hong Kong was Tencent 0. 16%, Meituan -2. 75% and Alibaba HK -3. 73% volumes were moderate. Mainland Chinese investors bought another $534 million of Hong Kong shares today, with Tencent experiencing moderate/soft net buying.
It’s strange to see Alibaba go, as the knowledge of singles’ day looks promising so far, especially for foreign brands whose profits will be generated next Thursday. I was fortunate enough to attend an occasion Alibaba organized for American corporations in many industries, such as luxury intelligence, puppy food, and household items sold on Singles’ Day. I was very inspired by the generation and the live broadcast used. Tencent with 15% short earnings (15% yesterday), JD. com 33% (31% short earnings yesterday) and Alibaba 12% (up from 25% yesterday). , several tech subsectors had a smart day. Foreign investors were net distributors of -$523 million.
The Hang Seng and Hang Seng Tech are down -0. 23% and -1. 56% in volume -29. 52% since yesterday, or 85% of the 1-year average. 155 shares rose while 320 fell. Primary Card short-term gain is down -21. 21% from yesterday, which is 82% of the 1-year average, being 17% short-term gain. Value points outperformed expansion points by a small margin, with giant caps “outpacing” small caps. Materials and Energy were the only positive sectors rising +0. 51% and +0. 29%, while closures were discretionary -2. 2%, Real Estate -0. 72% and fitness -0. 65% . Top subsectors included family products, insurance and semiconductors, while the worst performers were automotive, retail and health care appliances. Southbound Stock Connect volumes were subdued as mainland investors bought $534 million worth of Hong Kong shares today, with Meituan doing a small net sell-off, while Tencent, Wuxio Biologics and Kuaishou did a small net sell-off. Net purchase.
Shanghai, Shenzhen and STAR Board fell -0. 43%, -0. 4% and -0. 91% respectively in a volume of -16. 87% compared to yesterday, or 86% of the 1-year average. 1,840 shares rose while 2,663 shares fell. Value points outperformed expansion drivers, while small-cap companies “outperformed” big-cap companies by very little. Real estate was the only positive sector to gain 0. 06%, while commodities -1. 77%, healthcare -1. 48% and strength -1. 35% closed lower. Major subsectors included PC hardware, software and motorcycles, while marine/navigation, alcohol and power generation were among the worst. Northbound Stock Connect volumes were moderate/light, as foreign investors sold -$523 million in continental stocks. against the US dollar at 7. 25% and copper at -0. 38%.
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