HK Stock Market Move | TECHTRONIC INDUSTRIES (00669) rose more than 4%, Home Depot's third-quarter performance lags behind expectations, Citigroup says it may provide a buying opportunity for the market.

TECHTRONIC IND (00669) rose more than 4%, as of the time of publication, it increased by 3.75% to 87.1 Hong Kong dollars, with a turnover of 1.99 billion Hong Kong dollars. In terms of news, recently, the US home improvement retail giant Home Depot released its third-quarter performance. Citigroup pointed out that Home Depot, TECHTRONIC IND's largest customer, reflects the dynamics of the US consumer market. TECHTRONIC IND's business focus is more on the professional field, accounting for about 70% of its total sales, so it maintains its forecast for this year. The bank pointed out that from next year, Techtronic Industries is expected to accelerate its growth. If Home Depot's performance fails to meet expectations and causes TECHTRONIC IND's stock price to fall, it is believed to be a buying opportunity for the stock. The bank mentioned that Home Depot, TECHTRONIC IND's largest customer, third-quarter revenue and net profit are below expectations. It has lowered its earnings per share guidance for this year by 3% to $14.48, lower than the earlier guidance and market expectations. However, excluding the impact of hurricanes and weather, the core business performance remains stable. In addition, TECHTRONIC IND's management mentioned that although US tariffs have led to a moderate increase in product prices, the performance of its product sales in the third quarter remains healthy.