Southbound funds net bought CNY 1.856 billion today. Shanghai Stock Connect: Meituan-W and CNOOC were net bought HKD 642m and HKD 200m; Tencent Holdings was the largest net seller at HKD 474m. Shenzhen Stock Connect: China Mobile and Tencent Holdings were net bought HKD 242m and HKD 152m; Xiaomi Group-W was the top net seller at HKD 77m.

The Hang Seng Index opened up 0.59% but reversed to close down 0.13% at 24,448.95. The Hang Seng TECH Index fell 0.92% to 4,040.73. Market turnover was HKD 173.7 bln, down from HKD 247.4 bln in the prior session. Most sectors closed lower; coal, batteries and biotech outperformed while consumer electronics, medical devices and PCB stocks led declines. Tech names slid after midday; autos and memory/storage-related stocks posted notable losses. Leapmotor (09863.HK) fell 7.04%, Meituan (03690.HK) fell 6.53%, WuXi Biologics rose 2.73% and WuXi AppTec (02359.HK) rose 2.27%.

Onshore yuan (CNY) closed at 6.6735 per US dollar at 16:30 on Nov 9, down 24 pips from the previous trading day.