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Market Performance: The HSI rose by 44 points (0.2%) to 25,818, while the HSTI and HSCEI also saw slight increases, closing at 5,499 and 8,915 respectively.

Active Heavyweights: Notable stocks included BABA, which fell 0.8% to $146, and HKEX, which rose 0.6% to $410, with significant short selling activity across these stocks.

Constituents on the Move: SMIC and CKI Holdings experienced notable gains, with SMIC up 3.1% to $71.05 and CKI Holdings up 1.8% to $58.55, both hitting new highs.

Short Selling Data: The short selling ratios varied significantly among stocks, with PING AN at 32.352% and CKI Holdings at 38.222%, indicating varying levels of investor sentiment.

Transition to Uncertificated Securities Market: Hong Kong will begin transitioning to an Uncertificated Securities Market (USM) in phases starting next year, aimed at enhancing market accessibility, resilience, and competitiveness.

Modernization of Securities Processes: The USM will eliminate paper-based processes for prescribed securities, allowing for electronic management and straight-through processing, thereby improving the financial market infrastructure.

Collaboration with Stakeholders: HKEX plans to introduce new securities depository processes and a modernized fee structure, collaborating with the Securities and Futures Commission and other stakeholders to align with global standards.

Impact on Investor Interaction: The transition to USM is expected to enable faster and more efficient interactions between investors and companies, enhancing overall market efficiency.