Shares of CSC (China Securities Co. Ltd) soared by 8.99% on November 4, 2024, as Hong Kong stocks were buoyed by positive sentiment, particularly in the financial and electric vehicle sectors.
The surge in CSC's stock price was part of a broader rally in the Hong Kong market, where the Hang Seng Tech Index gained 1.08%. The financial sector saw significant movements, with CSC's peer CITIC Securities (06030) also rising by 5.41%, reflecting the positive investor sentiment.
The electric vehicle (EV) sector was a standout performer, with major Chinese EV makers such as XPeng, Geely Auto, and BYD reporting record monthly sales in October. Investors are optimistic about the growth prospects of the EV industry, driven by surging domestic demand in China.
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