Thursday, November 28, marks the US Thanksgiving holiday, during which US markets will be closed for the day. On Friday, November 29, the US markets will close 3 hours earlier than usual, at 2:00 AM Beijing time.
As the year comes to a close, several Wall Street investment banks have released their 2025 US stock market outlooks. Nearly all major banks predict continued growth for US stocks next year.
Deutsche Bank, for example, has set a year-end target for the S&P 500 at 7,000 points, the highest forecast among major institutions. However, Deutsche Bank’s macro strategist, Henry Allen, has cautioned investors to monitor three key risks that could hinder US stock market growth: potential economic downturns in the US, rising inflation, and geopolitical instability.
Friday Morning Market Update: A-shares and Hong Kong Stocks See a Strong Rally
In the early morning of Friday, A-shares and Hong Kong stocks both surged. The Shanghai Composite Index rose over 1%, and the ChiNext Index surged nearly 4%.
The consumer sector experienced a broad rally, with financial stocks such as brokerage firms also strengthening, as evidenced by an over 8% gain in East Money.
The Hang Seng Index gained 1%, heading toward the 20,000-point mark, while the Hang Seng Tech Index climbed more than 2%. Among the top performers in the Hang Seng Index, Haidilao rose over 6%, and Xinyi Solar gained over 5%.
In the semiconductor sector, SMIC and Huagong Semiconductor saw significant gains of nearly 7%.
US Markets
US markets were closed on Thursday, November 28, due to the Thanksgiving holiday.
Hong Kong Markets
Fundamental Analysis:
Hong Kong’s three major indices rebounded from their lows. On the market, technology stocks generally rose, with NetEase, JD.com, and Meituan all gaining over 2%. Stocks related to the “Zaozi Economy” (a concept around rural revitalization) surged, with Tencent Literature climbing more than 5%.
Semiconductor-related stocks performed strongly, with SMIC rising more than 6%. Additionally, Chinese real estate stocks saw widespread gains, with Sunac China rising over 17%.
Chinese brokerage stocks strengthened significantly, with China Merchants Securities up over 13%. This movement was fueled by the announcement of Shenzhen’s “14 Merger & Acquisition Rules,” which are expected to bring new opportunities for mergers and acquisitions, boosting confidence in the brokerage sector.
Furthermore, the market anticipates that upcoming key meetings and potential mergers could inject fresh momentum into economic development, driving capital markets and deepening state-owned enterprise reforms.
Technical Analysis:
Technical Analysis:
- Hang Seng Index: +1.29%, closing at 19,625.01 points
- Hang Seng Tech Index: +2.65%, closing at 4,421.75 points
- Hang Seng China Enterprises Index: +1.49%, closing at 7,027.96 points
FTSE China A50 Index
Fundamental Analysis:
In the early hours of Friday, all three major A-share indices rose. By midday, total market turnover was 992.7 billion yuan, slightly lower than the previous day’s volume by 11.5 billion yuan. Over 4,500 stocks were in the green.
Sector performance was led by consumer staples, e-commerce retail, and financial securities, which saw substantial gains.
In particular, stocks in the food & beverage, retail, and clothing sectors performed strongly, with several stocks like Huanlejia, Yiming Food, Junyao Health, and Maiquer hitting the daily price limit.
Internet finance stocks also saw a rally near midday, with LianDi Information jumping 30%, and companies like Weston, ZhaoRi Technology, and Huijin Technology rising 20%.
Conversely, stocks in the IP economy sector saw some corrections, with Hengxin Oriental falling over 10%, and Gaole Shares and Shifeng Culture hitting the daily price limit.
Technical Analysis:
Market Trends:
- Shanghai Composite Index: +1.59%, closing at 3,348.20 points
- Shenzhen Component Index: +2.41%, closing at 10,684.46 points
- ChiNext Index: +3.83%, closing at 2,252.84 points
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Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
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