On Thursday, October 31, 2024, the Hong Kong stock market closed with mixed results. The Hang Seng Index (HSI) fell by 0.31%,, and the Hang Seng Tech Index (HSTECH) decreased by 0.32%.
In the industry sectors, Chinese brokerage stocks showed strength, with CMSC rising by 3.43% and HTSC up by 3.12%. This sector's performance was bolstered by strong third-quarter earnings reports from several brokerages, including CITIC Securities and China Merchants Securities, which reported significant year-over-year profit growth.
Among individual stocks, BYD Company fell by 4.61%, facing risks related to product price declines as its supplier, Lintai New Materials, prepares for a listing. Tencent dropped by 1.56%, and Haier Smart Home decreased by 2.42%. On the other hand, Xiaomi gained 2.69%, and Bilibili rose by 1.07%.
CICC declined by 1.81% despite the announcement that smartphone manufacturer Honor received investment from China Telecom in its latest financing round. Li Auto also saw a slight decline of 1.10%. Alibaba fell by 1.36%.
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