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Hong Kong stock market retreats from its high levels, with the Hang Seng Index and the H-share Index both falling by over 1%; the real estate and brokerage sectors decline, Sunac drops more than 9%, Citic Securities falls by nearly 6%.
Network technology stocks decline, NetEase-S drops by 5.61%, Meituan-W drops by 4.05%; Securities and brokerage stocks weaken, CSC drops by 5.45%, China International Capital Corporation drops by 4.34%; Coal industrial concept stocks weaken, China Coal Energy drops by 4.22%, Kinetic Dev drops by 3.18%.
Express News | Hong Kong Exchange: HSBC repurchased 4.8 million shares of stocks for 0.3423 billion Hong Kong dollars on November 6 and repurchased 2.9 million shares of stocks for 21 million British pounds on other exchanges.
Express News | HKEX: On November 7th, Sinopec repurchased 6.1 million shares for 38.7 million RMB.
Express News | As of the end of October, the total market value of Hong Kong stock market securities was 35.2 trillion Hong Kong dollars, a 14% year-on-year increase.
Express News | hkex reported that the average daily turnover in October was 255 billion Hong Kong dollars, an increase of 224% year-on-year.
Treasury Department: Set up a working group within this year to explore improving the gold market trading and regulatory mechanisms.
Acting Financial Secretary and Secretary for Financial Services and the Treasury, Chen Ho-lim, responded to questions from lawmakers, stating that the authorities will establish a task force within this year to develop proposals to improve the gold market trading and regulatory mechanisms. The discussion topics will include gold supply and demand, product development, standard applications, clearing mechanisms, logistics storage, inspection certification, talent development, and cross-border cooperation. He mentioned that the experience of over-the-counter related transactions shows that the commodity market, including gold financial transactions, has its own characteristics, and trading and ecosystems need time to establish. Both on-exchange and off-exchange trading in Hong Kong currently have potential, but relevant developments require detailed planning and gradual progress.
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