According to the financial news agency on November 26 (editor Hu Jiarong), Hong Kong's three major indices showed mixed performance today. As of the close, the hang seng index rose by 0.04%, closing at 19,159.20 points; the technology index fell by 0.31%, closing at 4,221.99 points; and the hang seng china enterprises index fell by 0.16%, closing at 6,851.56 points.

Note: performance of Hang Seng Index.

The expectation of tax increases by Trump once raised market concerns.

In today's morning session, US President-elect Trump stated that on the first day of his presidency next year, he would impose new tariffs of up to 25% on goods from Canada and Mexico through executive orders. He also foolishly claimed that he would impose a 10% tariff on goods imported from china. This news triggered market concerns.

Affected by the above news, the hang seng index fell to 19,054 points in the morning session, before rebounding slightly. By the close, the index settled above 19,100 points.

In addition, regarding the short selling situation, after continuous declines in the Hong Kong stock market recently, the short selling ratio has shown a decline, with the hang seng index, technology index, and hang seng china enterprises index falling to 15.93%, 15.17%, and 15.44%, respectively.

Today's Market

From the market performance perspective, dining and photovoltaic stocks are strong, while cryptos, shipping, and auto stocks are weak.

Dining stocks receive renewed investment attention, with Nayuki's tea rising nearly 6%.

Among dining stocks, Hylun (09869.HK), Nayuki's tea (02150.HK), and Jiumaojiu (09922.HK) rose by 5.63%, 2.59%, and 2.16% respectively.

Note: Performance of dining stocks.

In terms of news, Vice Minister of Commerce Sheng Qiuping previously stated that the Ministry of Commerce will cooperate with relevant departments to launch a series of new policies in the consumer sector. Five cities will also introduce supporting policies. For example, shanghai and guangzhou will launch support and incentive policies for first store openings and events; peking, tianjin, shanghai, and chongqing will distribute consumer vouchers for dining, culture and tourism, and sports services.

Photovoltaic stocks mostly rose, with Solargiga gaining over 3%.

Among photovoltaic stocks, Solargiga (00757.HK), GCL Tech (03800.HK), and Flat Glass (06865.HK) rose by 3.54%, 3.03%, and 2.20% respectively.

Note: Performance of photovoltaic stocks

According to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, on the afternoon of November 22, the "Self-Regulation Seminar for Foreign Trade Enterprises in the Photovoltaic Industry" organized by the China Chamber of Commerce was successfully held in peking. President Zhang Yujing stated in his speech that the current global economic situation is complex and changeable, with both opportunities and challenges coexisting, and cooperation and competition intertwined. China's photovoltaic industry, as a typical representative of the new three major exports, is facing dual pressures of increasingly fierce "involution" competition and frequent trade barriers in overseas markets.

Bitcoin price retraced, boyaa fell nearly 15%.

Among the crypto concept stocks, boyaa (00434.HK), grandshores (01647.HK), and okg tech (01499.HK) fell by 14.84%, 9.52%, and 9.41%, respectively.

Note: Performance of crypto concept stocks.

In terms of news, bitcoin prices continue to decline. As of the time of publishing, it fell by 1.24%, reported at 92,546 USD.

Note: Trend of bitcoin prices.

Most shipping stocks adjusted, cosco shipping holdings fell over 4%.

Among shipping stocks, cosco shipping holdings (01919.HK), china mer port (00144.HK), and pacific basin (02343.HK) fell by 4.17%, 2.38%, and 2.01%, respectively.

Note: performance of shipping stocks.

On the news front, John Kirby, the strategic communications coordinator of the USA's National Security Council, stated that a ceasefire agreement between Lebanon and Israel is "close" to being reached, with the gap in differing opinions on the ceasefire agreement having "significantly narrowed," although some measures still need to be taken to facilitate its achievement. As a result of this news, the market's short-term expectations for the reopening of the Red Sea have increased. Today, the shipping index (European line) main contract fell over 11% intraday and closed down nearly 9%, hitting a new monthly low.

Note: Performance of the shipping index.

Some auto stocks declined, with NIO falling over 5%.

Among auto stocks, NIO-SW (09866.HK), Guangzhou Automobile Group (02238.HK), Great Wall Motor (02333.HK) fell by 5.59%, 4.23%, and 2.22%, respectively.

Note: Performance of auto stocks.

On the news front, NIO had the largest decline. Goldman Sachs has lowered its net income forecast for NIO from 2024 to 2026 by 2%-13%, reflecting a decline in sales, gross margin, and an increase in operating expenses. The target price has been reduced by 21.1% from 38 Hong Kong dollars to 30 Hong Kong dollars, as it is expected that competition will intensify for NIO in the first quarter of next year, with increased marketing and R&D expenses, prompting a downgrade of its rating from "neutral" to "sell."

Individual stocks are fluctuating.

Jiangsu Lopal Tech. rises nearly 9% and is included in the Hong Kong Stock Connect.

Jiangsu Lopal Tech. (09660.HK) rises 8.75%, closing at 8.74 HKD. According to the announcement from the Shenzhen Stock Exchange yesterday, the list of securities eligible for the Hong Kong Stock Connect has been adjusted and will take effect from November 25. As a dual-listed company on the A+H market, Jiangsu Lopal Tech. can be quickly included in the Hong Kong Stock Connect after the price stabilization period ends, with November 25 being its first trading day as an eligible stock.

Innovation Works falls over 15% after previously surging over 50%.

Innovation Works (02121.HK) drops 15.36% after a previous surge of over 50%. In terms of news, the stock price surge may be related to the recent boom in AI applications both domestically and internationally, as evidenced by climbing access data for relevant AI applications. According to the Gamma Data's "October 2024 AI Industry Report," global AI application traffic increased by 13.64% month-on-month in October, with total access exceeding 6 billion.