On Tuesday, October 29, 2024, the Hong Kong stock market saw a positive performance with the Hang Seng Index (HSI) rising by 0.49%, the Hang Seng China Enterprises Index (HSCEI) up by 0.36%, and the Hang Seng Tech Index (HSTECH) increasing by 1.09%.

Meitu (MEITU) saw a significant rise of 12.20%, reflecting strong investor confidence.

NIO saw a significant surge, rising by 9.75%, driven by strong performance in the automotive sector and an expected 8.2% year-on-year increase in new energy vehicle sales for October. Other automotive stocks also performed well, with XPeng up by 2.57% and Evergrande Auto rising by nearly 5%.

Among individual stocks, HSBC Holdings rose by 3.69% after reporting a 9.88% year-on-year increase in third-quarter pre-tax profit to $8.476 billion, surpassing analyst expectations. HSBC also announced a $3 billion stock buyback plan. The company's revenue for the first nine months of 2024 increased to $54.3 billion, up by $1.3 billion from the same period in 2023, a 2% increase. The profit attributable to ordinary shareholders of the parent company was $22.72 billion, a year-on-year increase of 0.6%.

In the solar energy sector, Xinyi Solar fell by 2.00%, while Xinte Energy rose by 6.85%. Shandong Gold dropped by 4.10% due to a lower-than-expected third-quarter net profit of approximately RMB 682 million, despite a 2.7% increase in gross profit.

Other notable stock movements included JD-SW up by 2.72%, Bilibili-W up by 2.87%, and Nongfu Spring down by 1.84%. Chabaidao surged by 10.36% in the afternoon, triggering a market adjustment mechanism after the opening of its first store in Hong Kong.