Alibaba Group Holding Ltd (9988.HK)

Alibaba Group Holding’s Taobao and Tmall Group kicked off presales for its Singles’ Day promotion with a group of live streamers persuading consumers to buy from its platforms.

Within an hour after its presales started, Taobao and Tmall Group’s mainland platforms recorded a more than 200% YoY increase in turnover for 1,300 brands, while sales of nearly 700 brands grew over five times, according to the company.

Hong Kong terrestrial broadcasting firm Television Broadcasts (TVB) joined Taobao and Tmall Group’s Singles’ Day promotion for the first time.

CITIC Ltd (267.HK)

CITIC Securities’ 3QFY23 fell by 4.9% YoY to CN¥5.37bn (US$954.4m) as fees and commissions slid. Fees and commissions earned from its brokerage business fell by 10.9% to CN¥7.83bn (US$1.07bn) in the first nine months, the filing showed.

China has introduced a slew of stimulus measures to draw investors back into the country’s US$10.5 trillion stock market, particularly the foreign buyers that have fled in droves this year.

CK Hutchison Holdings Ltd (1.HK)

Fitch Ratings has affirmed Hong Kong-based CK Hutchison Holdings Limited's (CKHH) Long-Term Issuer Default Rating at 'A-'. The Outlook is Stable.

The company's ratings reflect its strong business profile, geographical diversification, stable cash flow generation from its high-quality port, retail, infrastructure and telecommunication businesses, and management's strong record of prudent financial management.

CNOOC Ltd (883.HK)

Asia's largest oil and gas producer PetroChina Co Ltd reported 21% YoY growth in 3QFY23 net profit that hit a record high, as increased production and improving domestic fuel demand offset lower realised oil and gas prices. Net profit rose to CN¥46.4bn (US$6.3 bn), while revenue fell 4.6% to CN¥802bn (US$109.7bn).

Its crude oil output between January and September rose 4.3% versus a year earlier to 706m barrels, including 22% growth in overseas production to 122m barrels, PetroChina said, without specifying which countries contributed to the growth. Natural gas output was up 6.1% to 3,656.6bn cubic feet.

Xiaomi Corp-Class B (1810.HK)

Smartphone and gadget giant Xiaomi Corp became the latest Chinese industry player to unveil a unified operating system for its mobile devices, cars and internet-connected home products, as USsanctioned Huawei Technologies works towards liberating its own integrated OS completely from Google’s Android.

Xiaomi described HyperOS, its recently introduced OS, as a combination of a highly customised Android system and the company’s proprietary Internet of Things (IoT) platform Vela, launched three years ago to support a range of smart devices from wristbands and smartwatches to speakers, home appliances and sensors.

The Beijing-based firm touted HyperOS as a “human-centric” OS that is a culmination of efforts to bring its vast and expanding product portfolio under the roof of one single OS for centralised and easier management.

Source: Rakuten Research - 1 Nov 2023

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