The Central Political Bureau meeting mentioned that next year, a more proactive fiscal policy and moderately loose monetary policy will be implemented, strengthening extraordinary counter-cyclical adjustments. Following the announcement on the 9th that the year-on-year CPI in mainland China rose by 0.2% in November, today (10th), the mainland reported a year-on-year increase in dollar-denominated exports of 6.7% for last month and a year-on-year decrease in imports of 4.7%, both falling short of market expectations.

Stimulated by national policy news, the Hong Kong stock market rebounded sharply by 548 points or 2.8% yesterday and opened this morning above the 21,000 mark, rising 655 points to a high of 21,070, creating a roughly one-month high. The increase then gradually narrowed, and in the afternoon, it slightly fell by 16 points to a low of 20,397 before stabilizing, with the latest report at 20,400, down 13 points or less than 0.1%, with active trading reaching 206.062 billion HKD.

The surge from yesterday saw the Wuxi bio system retract; Wuxi bio (02269.HK) and Wuxi apptec (02359.HK) each fell by 3% to 4%. BYD Electronics (00285.HK) opened flat but also retracted 3% from a more than three-year high, reporting at 41.65 HKD with a trading volume of 0.678 billion HKD. Among blue chips, China Resources Land (01109.HK), Longfor (00960.HK), and China Overseas (00688.HK) retracted by about 2% to 2.6%.

The three major oil companies showed weakness; Sinopec (00386.HK) fell slightly by 0.6%, while PetroChina (00857.HK) and CNOOC (00883.HK) dropped by 1.3% to 1.4%.

Some domestic demand stocks declined, with China Resources Beer (00291.HK), Nongfu Spring (09633.HK), and Li Auto-W (02015.HK) falling by 1% to 1.9%.