[ET Net News Agency, 10 November 2025] The US Senate has reportedly secured enough votes
to advance legislation ending the federal government shutdown. US and European equity
index futures rose in response, while Bitcoin prices also climbed. Across Asia-Pacific
markets, Japanese, Korean, and Taiwanese equities followed suit, while Mainland China
A-shares saw modest declines. However, this did not impede gains in Hong Kong, with the
HSI closing the morning at 26,403, up 161 points or 0.6 percent, and main board turnover
approaching HKD 11.41 billion. The Hang Seng China Enterprises Index stood at 9,345, up 77
points or 0.8 percent. The Hang Seng Tech Index was at 5,844, up 7 points or 0.1 percent.

"Nip Chun Pong: HSI's breakout depends on single-day turnover"

Nip Chun Pong, the Chief Strategist at Solo Asset Management, told ET Net News Agency
that a breakthrough above 26,500 today is unlikely. While the potential resolution of the
US government shutdown offers some support for Hong Kong stocks, the impact is likely to
be limited, and any gains may be modest as the market remains cautious. Should the US
Senate eventually pass the bill, the key will be whether this positive news can push
single-day turnover in Hong Kong above HKD 26 billion, which could, in turn, help the HSI
break through the 26,500 resistance level.

"Aggressive pricing for the 'national car' may hit profitability"

JD.com (09618), in partnership with GAC Group (02238) and CATL (03750), officially
announced the pricing for the "National Car" Aion UT super: buyers opting for the battery
leasing scheme can purchase the car for RMB 49,900; for outright purchase, the price is
RMB 89,900. The car will be sold exclusively through JD.com, with consumers now able to
search for "National Car" on the JD app to reserve test drives and pay deposits.
Despite the hype surrounding the "National Car", there has been no significant rally in
the share prices of JD.com or GAC. Nip Chun Pong attributes this to an overly aggressive
pricing strategy, suggesting there could be a "sales boost at the expense of profit" in
the short term, sacrificing margins to gain market share, which may not benefit earnings
and could even drag on results, prompting a wait-and-see approach from investors. He adds
that as a newly expanded business segment for JD.com, automotive sales are only expected
to make a marginal contribution to overall revenue this year and into the first half of
next year.
Nip also pointed out that even if GAC's new car successfully captures market share, its
ability to raise prices for future models will be in doubt, potentially impacting
long-term development. GAC's share price rose to HKD 3.50 in early trading but quickly
retreated to last Friday's closing level of HKD 3.33, reflecting the market's cautious
response. He expects the share price to remain range bound between HKD 3.10 and 3.50 in
the near term.