The director of business development at Harbor Family Office, Guo Jiayao, stated that us stocks performed downward on Monday (9th), with the market experiencing a top reversal after several consecutive days of gains, and all three major indices closed with a decline. The US dollar fluctuated but remained stable, and the yield on the US ten-year treasury rose to 4.19%. Gold prices performed well, and oil prices were also supported by geopolitical news. Hong Kong stock pre-issue securities generally rose, and the market is expected to open significantly higher in the early session.

The mainland stock market remained stable yesterday, with the Shanghai Composite Index opening high and then falling, closing slightly down by 1 point, and the trading volume in both Shanghai and Shenzhen markets also slightly decreased.

Hong Kong stocks showed a significant recovery, opening lower and then fluctuating upwards. The Central Political Bureau meeting indicated that it would actively implement fiscal policy and moderately ease monetary policy to stabilize the performance of the housing and stock markets, stimulating the market to turn upwards, reclaiming the level of 20,000 points, with overall trading volume surging to over 200 billion. The market anticipates more specific policies to be implemented at the Central Economic Work Conference, with indices expected to further challenge the resistance at 21,500 points, while support is at the 20,500 point level.

Additionally, ke holdings-W (02423.HK)(BEKE.US) recently announced a third-quarter adjusted net profit of 1.785 billion RMB, a decrease of 16.8%. During the period, net income was 22.585 billion RMB, an increase of 26.8%, primarily due to new housing income and the expansion of home improvement and house rental businesses. The net income from existing housing business slightly declined compared to the same period last year, while the total transaction volume of existing housing increased by 8.8% to 477.8 billion RMB. The net income from the new housing business rose by 30.9% to 7.7 billion RMB. Net income from home improvement grew by 32.6% to 4.2 billion RMB, mainly driven by customer acquisition and conversion synergy effects leading to increased orders and greater contribution from new retail. The net income from rental & leasing services increased by 118.4% to 3.9 billion RMB, mainly due to the increase in the number of rental properties under the worry-free rental model. The overall gross margin decreased year-on-year by 4.7 percentage points to 22.7%, as the proportion of fixed salary costs to the net income of existing housing business increased, leading to a decline in the profit margin contribution from related businesses. The company stated that the policies launched in the mainland have begun to show results, with trading volume rebounding significantly in October. It is expected that, driven by policy support, ke holdings' performance is likely to continue to recover.

(The author is a licensed person of the SFC, and neither he nor the relevant persons hold the above shares)~