Hong Kong stocks closed (11.02) | Hang Seng Index rose 0.42%, Chinese brokerage, AI hardware, and lithium battery stocks strengthened, Xiaomi Group-W (01810) led the blue chip

The Zhitong Finance App learned that Hong Kong stocks had a good start in November. The three major indices rose collectively. At one point, the Hang Seng Technology Index rose more than 3%. At the close, the Hang Seng Index rose 0.42% or 98.90 points to 23393.32 points, with a turnover of HK$204.840 billion; the Hang Seng State-owned Enterprises Index rose 0.56% to 7906.11 points; and the Hang Seng Technology Index rose 2.25% to 3839.41 points.

Cathay Pacific Haitong Securities pointed out that uncertainties such as short-term AI narratives, geographical conflicts, and the US midterm elections remain to be seen. Overseas risk aversion is heating up, and the reverse financial trend of Hong Kong stocks has yet to be digested. At the industry level, emphasis continued to be placed on high-dividend assets in Hong Kong stocks in the fourth quarter. At the same time, the three quarterly AI application scenario expansion/Q3 may be included in the flexible target of the Hang Seng Technology Index.

Blue-chip stock performance

Xiaomi Group-W (01810) led the blue chip increase. At the close, it was up 6.12% to HK$28.1, with a turnover of HK$7.537 billion. Xiaomi delivered more than 50,000 vehicles in a single month in October for the first time in the year, and sold more than 30,000 vehicles for seven consecutive months, with a cumulative total of about 340,000 vehicles delivered in the first ten months of this year. Some industry insiders say that since the launch of the Xiaomi Pengcheng series, the popularity of the market has not abated, providing a new growth point for Xiaomi cars.

In terms of other blue-chip stocks, China Life Insurance (02628) rose 3.85% to HK$24.8; JD Health (06618) rose 3.57% to HK$39.46; Kuaishou-W (01024) rose 3.47% to HK$27.44; BYD shares (01211) rose 3.22% to HK$70.45; and Bank of China (03988) fell 4.64% to HK$5.86.

Popular sector aspects

On the market, large science and network stocks are generally flourishing. Keling AI has completed a capital increase of about 19.8 billion yuan, Kuaishou has increased by more than 3%, Alibaba and Apple have reached cooperation, and the stock price has risen by more than 2%. Optical Communications and Chinese brokerage firms led the way. Changfei Optical Fiber Cable rose 11.49% and CICC rose 8.90%; lithium batteries, automobile stocks, gaming stocks, consumer stocks, etc. strengthened at the same time; banks, gold, and non-ferrous stocks opened high and low.

The Chinese brokerage sector exploded. At the close, CICC (03908) rose 8.90% to HK$18.48; GF Securities (01776) rose 8.06% to HK$16.9; CITIC Securities (06030) rose 5.73% to HK$21.02; and China Merchants Securities (06099) rose 5.53% to HK$12.98.

Last night, it was reported that China's financial supervisory authority convened a meeting with banks and securities companies on Monday to discuss relevant measures to support the capital market. According to the latest news from the Financial Federation, this morning, the People's Bank of China and the Securities Regulatory Commission held a symposium with a number of brokerage firms and fund companies. According to participants, at the conference, the People's Bank of China will launch the third tender for the exchange of securities, funds, and insurance companies to facilitate operation.

According to information, institutions are actively willing to apply this time, and more than 30 institutions have applied. Participants said that the convenient exchange operation is a useful exploration to support the capital market. The symposium once again sounded the rallying call. Brokerage firms, funds and other institutions will actively make good use of convenient swap tools and invest incremental capital in the capital market as soon as the application is successful.

Optical communications and PCB concept stocks rebounded. At the close, Changfei Optical Fiber Cable (06869) rose 11.49% to HK$107.2; Haiguang Xinzheng (01191) rose 9.61% to HK$69.6; and Dongshan Precision (02384) rose 5.77% to HK$82.5.

On October 30, local time, in the US, at the SEMICON West 2026 semiconductor industry exhibition held in San Francisco, Nvidia presented a prototype of the next generation co-packaged optics (CPO) solution, named OOI (Optics-on-Interposer, Integrated Optics on the Intermediator Layer). Furthermore, the AI hardware industry chain continued to deliver results in the three-quarter report. Changfei Optical's net profit for the third quarter was 3.203 billion yuan, up 1741.52% year on year and 31% month on month. Higashiyama Precision's net profit for the third quarter was 2,332 billion yuan, up 401.18% year on year and 26% month on month.

Gaming stocks performed brilliantly. At the close, MGM China (02282) rose 6.20% to HK$9.685; Galaxy Entertainment (00027) rose 3.74% to HK$33.26; Macau International Development (00200) rose 3.57% to HK$2.32; and Sands China (01928) rose 3.09% to HK$11.01.

According to the latest figures from the Macau Gaming Inspection and Coordination Bureau, gross gaming revenue in October was MOP 21.68 billion, up about 20% from the previous month, but still fell by about 10% from the previous year. Macau's total gaming revenue from January to October was MOP 208.796 billion, up 1.6% from the same period last year. Citigroup indicated that Macau's October gaming revenue was roughly in line with the bank's estimate of MOP 21.5 billion and the market's estimate of MOP 21.7 billion.

Auto stock trends diverge. At the close, Xiaopeng Group-W (09868) rose 4.33% to HK$37.14; BYD shares (01211) rose 3.22% to HK$70.45; and Zero Sports (09863) rose 2.43% to HK$31.98.

On November 1, car companies handed over their October “report cards” one after another. In terms of leading car companies, BYD sold 492,200 vehicles in October, up 10.97% year on year and 5.74% month on month. In terms of new car builders, Zero Sports delivered more than 100,000 vehicles per month for 4 consecutive months, ranking at the top of the list; Xiaopeng Group and Xiaomi both delivered more than 50,000 units in October; ideally, deliveries in October dropped year on year and month over month.

Gold and non-ferrous stocks weakened. At the close, Lingbao Gold (03330) fell 6.27% to HK$14.34; Chifeng Gold (06693) fell 5.68% to HK$27.22; Zijin Mining (02899) fell 2.23% to HK$27.24.

Affected by the Federal Reserve's tightening expectations and increased volatility in US stocks, international gold prices fell sharply last Friday. Spot gold once fell below 3,900 US dollars/ounce, hitting a new low of nearly a year. The Federal Reserve stood still in October but made it clear that “inflation is still high”, and the market price of the December interest rate hike rose to 72%; at the same time, the sharp decline in US technology stocks triggered forced liquidation and additional margin requirements, forcing some investors to sell gold to cover losses in other positions.

Popular exotic stocks

Xindong (02400) is trending strongly. At the close, it was up 14.25% to HK$41.2.

The State Press and Publication Administration released domestic and imported game editions in October, with 183 domestic game versions, maintaining a year-on-year upward trend. Since 2026, 1,708 domestic game versions have been distributed, surpassing the total of 1,676 for the whole year of 2025; the domestic 3A “Shadow Blade Zero” was officially unlocked on TapPC on October 29, and reached the top of the global bestseller list when it went on sale.

Reading Group (00772) rose throughout the day. At the close, it was up 15.54% to HK$24.68.

According to CCTV financial reports, at present, about 10 domestic Chinese companies have set up overseas skit platforms, and more than 10 overseas skit apps have launched exclusive AI comic channels. The total number of active AI comic users in overseas markets has exceeded 150 million. Among the top ten paid overseas skit apps, Chinese manufacturers occupy nine seats.

Huaxin Construction (06655) has surged in AH. At the close, it was up 10.11% to HK$16.34.

The total revenue of Huaxin Construction Materials in the third quarter was 10.192 billion yuan, up 13.42% year on year, and net profit to mother was 1,113 billion yuan, up 23.68% year on year. Additionally, Huaxin Construction announced that the company plans to acquire shares in the target company Brazil Cement, which is held by Brazil's National Steel Company (CSN).

The Ningde era (03750) followed the strengthening of lithium batteries. At the close, it was up 6.08% to HK$359.4.

Huaxi Securities believes that, driven by the rapid growth in demand for energy storage, the domestic lithium battery industry chain showed a strong off-season trend in the early 2026 period. After the pre-release of demand, there has now been a certain degree of pace adjustment, and demand is expected to maintain a relatively rapid growth rate throughout the year.

BOCHK (02388) led the blue chip decline. At the close, it was down 5.70% to HK$47.62.

Bank of China Hong Kong's profit after tax increased 9.0% year-on-year to HK$35.130 billion in the first nine months, but profit after tax fell 9.2% month-on-month to HK$10.774 billion in the third quarter, and the net interest spread narrowed by 3 basis points to 1.52% month-on-month; the Group announced a third interim dividend of HK$0.29 per share, which was the same as the previous year.