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Hong Kong stocks midday review: Hang Seng Index fell by 0.13%, mainland real estate stocks saw a significant decline, while the online education leader new oriental rose by approximately 3%.
On November 21, according to Gelonghui, the three major indices of Hong Kong stocks fell slightly in the morning session, continuing to show a narrow range of fluctuation overall. As of the lunch break, the Hang Seng Index and the National Index fell by 0.13% and 0.28% respectively, while the Hang Seng Tech Index dropped by 0.57%, with all three seeing an intraday rebound. On the market, the performance of large technology stocks has diverged more significantly, with Q4 revenue expected to slow down. Kuaishou plummeted over 10%, showing the weakest performance, alibaba and Tencent were slightly negative, netease rose more than 2%, and Xiaomi increased by more than 1%; bitcoin broke the $95,000 mark, reaching a new historical high. Most concept stocks related to cryptos continued to remain active, while boyaa continued to surge nearly 15%; gaming.
HK Stocks Watch | New Oriental-S (09901) up nearly 4%, management maintains full-year revenue guidance for education business, Daiwa reiterates "buy" rating.
New Oriental-S (09901) rose nearly 4% during trading, and as of the time of writing, it increased by 3.6%, priced at 44.5 Hong Kong dollars, with a transaction amount of 30.5886 million Hong Kong dollars.
Daiwa: Reaffirms new oriental-S (09901) "buy" rating, target price lowered to 67 Hong Kong dollars.
Daiwa has lowered the earnings per share forecast for new oriental-S (09901) by 6% for the fiscal year 2026 to 2027.
U.S. stocks closed | The three major indexes showed mixed results, with the Nasdaq up more than 1%, nvidia rising nearly 5% ahead of its earnings report; bitcoin hitting a new high led to a strong performance in cryptos concept stocks, with microstrategy
The escalation of the Russia-Ukraine conflict temporarily drove up the dollar, yen, Swiss franc, gold and other safe-haven assets, while bitcoin first broke through 0.094 million dollars. Two days before the earnings report, nvidia rose by 4.9%, super micro computer surged over 31%, the index of Chinese concepts fell by 0.8%, Xiaopeng autos dropped nearly 4%, and weibo gained over 6%.
New Oriental Education & Technology's Growth Outlook Likely Unchanged -- Market Talk
Top private equity funds in China expose the 'US stock report': the proportion of Chinese concept stocks continues to rise, with PDD Holdings and Apple being the focus of differences in components.
In the third quarter of this year, most Chinese private equity firms, such as Hillhouse, Gao Yi, and Jinglin, remained focused on Chinese concept stocks. However, Hillhouse and Jinglin chose to reduce their shareholding in pdd holdings, while Gao Yi opted to continue increasing its stake in pdd holdings.
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