Hong Kong stock market opened with mixed results. The Hang Seng Index (HSI) rose 0.19%, the Hang Seng China Enterprises Index (HSCEI) rose 0.05%, the Hang Seng Tech Index (HSTECH) dropped by 0.12%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) slightly declined by 0.02%.

In terms of industry concepts, the Hong Kong SaaS concept stocks showed a notable increase, with an overall rise of 1.43%. Key performers included KINGSOFT, which rose by 2.74%, and MOBVISTA, which surged by 5.09%. On the other hand, the popular Hong Kong tech stocks experienced a slight decline of 0.10%, with XIAOMI-W falling by 1.41%.

XPENG-W experienced a drop of 2.12%. The company reported a narrower loss and increased revenue in Q3, with a record gross margin. XPeng's performance indicates a positive trend in reducing losses and achieving higher delivery targets.

NIO fell over 3%; Trip.com fell over 2%.

BABA-W saw a decrease of 0.53%. Alibaba Group Holding Ltd. announced plans to issue $2.65 billion and RMB 17 billion in bonds, aimed at repaying offshore debt and share repurchases. This move follows disappointing quarterly results, and the bond offerings are expected to close on November 26 and November 28, 2024, respectively.

BANK OF CHINA dropped by 0.27%. The bank has received 1,222 new patent authorizations this year, an increase of 22.08% compared to the same period last year.

BYD COMPANY fell by 0.30%. The company has been granted 3,144 new patents this year, a 5.19% increase from the previous year.

XIAOMI-W declined by 1.41%. Kingsoft Cloud, Kingsoft Software, and Xiaomi signed a new framework agreement involving cloud services, property management, technical services, and property leasing, with a transaction cap of RMB 776 million.

ZTO EXPRESS-W dropped by 2.23%. The company reported Q3 financial results with a revenue of RMB 10.68 billion, a 17.6% increase, and an adjusted net profit of RMB 2.39 billion, a 2% year-on-year growth. The company maintained high service quality and customer satisfaction.