Sasa International (00178) rose more than 4% in late trading. As of press time, it was up 4.39% at HK$1.19, with a turnover of HK$5.2102 million.

On the news front, Sasa International previously issued a positive profit alert, expecting profit for the six months ended September to exceed HK$150 million, compared with HK$50.20 million in the same period a year earlier. This was mainly driven by strong same-store sales in Hong Kong and Macau, as well as rapid growth in the company's B2BC online sales and profitability.

Jefferies believes the profit alert came as a positive surprise to the market, as it was announced earlier than expected, demonstrating the continued momentum of the company's net profit recovery.

The bank also said that the Mid-Autumn Festival and National Day holidays drove demand for dining out and travel. It expects Hong Kong retail to benefit from improved monetization of inbound visitors, with mainland tourist spending conversion remaining high, outbound consumption outflow stabilizing, and a relatively strong renminbi boosting purchasing power; within its coverage, Sasa International is the biggest beneficiary.