HK Stock Market Move | The Hengke Index fell more than 3%, with all tech stocks trading in the red. Tencent (00700) reversed its gains in the afternoon.

Heng Seng fell more than 3%, with all the constituent stocks of weighty tech stocks in the red. Tencent reversed its earlier gains in the afternoon, rising over 2%, with the company's third-quarter revenue and net profit exceeding expectations. As of the time of writing, KINGOFT (03888) fell by 3.73% to 28.4 Hong Kong dollars; BABA-W (09988) fell by 2.71% to 88.1 Hong Kong dollars; and Tencent (00700) fell by 0.3% to 402.6 Hong Kong dollars. On the news front, on November 14th, during the Asian market session, the US Dollar Index maintained its intraday gains, rising to 106.69, reaching a one-year high. Zhongtai International pointed out that Trump's victory and trade protectionism tendencies have raised the risk premium for Hong Kong stocks, while strong inflation policies continue to drive the US dollar index and US bond yields, putting pressure on liquidity and valuation expansion in the Hong Kong stock market. Open source securities also stated that the rapid increase followed by a pullback is a normal profit-taking adjustment, and in the next six months, a series of policies are expected to stimulate the basic fundamentals of the Chinese economy, providing support for the Hong Kong stock market. The macroeconomic outlook and corporate profit rebound in the future are expected to bring more long-term active funds back, suggesting that the Hong Kong stock market still has ample room for further upside.