Industry data shows that in 2022, the sales of new smart connected passenger cars equipped with assisted autonomous driving systems in China reached approximately 7 million units, with a market penetration rate of 34.9%. In 2023, the penetration rate of advanced driver assistance systems (ADAS) in both global and Chinese markets exceeded 50%. During this period, Horizon Robotics became the largest provider of pre-installed ADAS and autonomous driving (AD) systems in China. Additionally, according to Horizon Robotics' prospectus, calculated by the total installed base of solutions in 2023 and the first half of 2024, Horizon Robotics ranks fourth among global providers of advanced driver assistance and high-level autonomous driving solutions.

Most gold and precious metal stocks fell last week, with Hang Seng Holdings down 13.21%, Tongguan Gold down 3.80%, Lingbao Gold slightly up 0.33%, Zhaojin Mining down 0.57%, Jihai Resources up 2.56%, Datang Tongjin down 1.33%, China Silver Group down 3.17%, and Shandong Gold down 4.56%.

Yan Zhaojun stated that, under normal circumstances, the price of gold has an inverse relationship with the market's real interest rates. However, recently, the gold price has continued to reach new highs while real interest rates have rebounded, reflecting the market's situation of trading risk aversion or avoiding long-term US dollar credit risks. At the same time, the United States may face an increased debt situation in the future, which will continue to increase the long-term credit risk of the US dollar. Furthermore, the global central banks' shift towards loose monetary policies and the resulting liquidity will catalyze the possibility of long-term inflation returning.

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Yan Zhaojun believes that, in the long term, there is a high correlation between gold prices and gold-related stocks, while the short-term correlation is not high. Gold stocks belong to equity and are affected by other market beta factors or liquidity; the profits of gold stocks are not only related to the trend of gold prices but also depend on the company's mining costs and other operating costs. In the short term, due to the continuous high position of international gold prices, gold-related stocks that have relatively lagged behind in recent performance are expected to outperform the broader market.

The first ETF investing in Hong Kong stocks by Saudi Arabia, Albilad CSOP MSCI Hong Kong China ETF, is expected to be listed on the Saudi stock exchange on October 30th.

It is reported that 95% of the funds in this ETF product launched by Saudi Arabia will be invested in the Southern East MSCI Hong Kong Stock Connect Select ETF. The Southern East MSCI Hong Kong Stock Connect Select ETF is an ETF listed on the Hong Kong Stock Exchange in July this year, and as of October 22nd, the scale of this ETF has exceeded 10 billion Hong Kong dollars. The top ten holdings of the MSCI Hong Kong Stock Connect Select Index include Techtronic Industries, Xiaomi Corporation, Meituan, China Shenhua, Anta Sports, BeiGene, Haier Smart Home, Nongfu Spring, Semir International, and Cinda Biotech, among others.

On October 28th, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, will lead a business delegation composed of representatives from the financial and innovation and technology sectors to visit Riyadh, Saudi Arabia, for a three-day visit. Paul Chan stated that one of the focuses of this event is to witness the first two exchange-traded funds listed on the Saudi stock exchange, tracking Hong Kong stocks. This is a good demonstration of the two-way flow of funds between the Saudi and Hong Kong markets and will add richer content to the "financial integration" in the "Belt and Road" initiative.

In his online blog, Paul Chan expressed that after these two Hong Kong stock ETFs are listed in Saudi Arabia, more two-way financial products are expected to be launched, further invigorating the two-way flow of funds and introducing more capital from the Middle East to the Hong Kong market.Chen Maobo stated that the Hong Kong Science Park Corporation will lead over 20 technology startups in a "roadshow" in Saudi Arabia. Partners from Hong Kong Investment Management Limited will also participate in this event and engage in exchanges with Saudi investment institutions.