On November 8, 2024, the Hong Kong stock market opened higher. The Hang Seng Index (HSI) rose by 1.18%, the Hang Seng China Enterprises Index (HSCEI) increased by 1.29%, the Hang Seng Tech Index (HSTECH) surged by 2.33%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) climbed by 0.83%.

In terms of sectors, the semiconductor sector saw significant gains with SMIC rising 5.49%. The automotive sector also performed well, with XPeng-W surging 15.00% and BYD COMPANY increasing by 3.14%. The Chinese brokerage sector was another strong performer, with CMSC jumping 8.88% and CITIC SEC up by 2.24%.

SMIC reported a record high quarterly revenue of $2.17 billion for Q3, up 32.5% year-on-year and 14% quarter-on-quarter. The company expects Q4 revenue to be flat to up 2%, with a gross margin between 18% and 20%.

XPeng-W saw a significant rise of 15.00% following the launch of its new P7+ model, with prices starting at 186,800 yuan. The model comes in three versions, including a long-range version priced at 186,800 yuan, an ultra-long-range version at 198,800 yuan, and a limited edition MAX version at 218,800 yuan, with the first 500 units available for pre-order.

BILIBILI-W rose by 5.04% as Chinese concept stocks showed strength in the US pre-market trading on November 7, with Bilibili and XPeng both rising over 4%.

HUA HONG SEMI increased by 3.88% after reporting Q3 sales revenue of $526.3 million, a 7.4% year-on-year decrease but a 10% quarter-on-quarter increase. The company's net profit attributable to shareholders was $44.8 million, up 222.6% year-on-year and 571.6% quarter-on-quarter.

APT Electronics jumped 16.3% on its first day of trading.