HK:3115.HK:Hangseng Index
The Hangseng Index rose 487 points, led by auto, insurer, and broker stocks. HK:2318.HK:Ping An, HK:0388.HK:HKEX, and HK:1810.HK:Xiaomi each jumped over 3%, with several banks hitting record highs.
The PBOC and five departments announced 19 new measures to enhance consumption and support auto loans, equity financing, and household demand across sectors.
China’s MOC plans to launch a nationwide campaign to boost new energy vehicle (NEV) consumption in thousands of counties and towns.
BNP Paribas Asset Management rated China and Hong Kong equities “overweight,” favouring sectors like utilities, nuclear energy, and mining.
KGI Securities raised its full-year target for the Hangseng Index to 25,500, recommending stocks in industrials, internet, raw materials, telecom, healthcare, and utilities.
Citi said rising oil prices are unlikely to shift China’s deflationary trend and still expects a 10 bps policy rate cut in 2H25.
HK:1299.HK:AIA
AIA repurchased 3 million shares on the HKEX for HKD210 million at prices between HKD69.2 and HKD71.2. Since May 23, it has bought back over 78 million shares, representing 0.73% of its share capital.
HK:1918.HK:Sunac China Holdings Ltd
Sunac announced that 75% of creditors by principal amount have supported its restructuring agreement, with the consent deadline ending June 20.
CaoCao Inc.
Ride-hailing firm CaoCao Inc. debuted on the grey market with a sharp 19.9% drop to USD33.60, reflecting investor caution.
HK:1810.HK:Xiaomi
CEO Lei Jun said user interest in Xiaomi’s upcoming YU7 model is exceeding expectations, aiming to mirror the success of its SU7 electric vehicle.
Daiwa raised its target price for Xiaomi to HKD78, citing long-term growth driven by IoT premiumization. TF Securities also flagged Xiaomi as a heavyweight to watch when market sentiment improves.
HK:0700.HK:Tencent Holdings Ltd
Tencent Games reported that its game Game for Peace: Metro Royale surpassed 37 million daily active users, highlighting strong engagement.
HK:2269.HK:WANT WANT CHINA
Want Want China posted an 8.6% rise in annual net profit to RMB4.34 billion. However, its final dividend per share dropped to US$2.04 cents.
HK:0345.HK:Vitasoy International Holdings Ltd
Vitasoy International reported a 101.7% jump in annual net profit to HKD235 million, raising its final dividend to HK10.2 cents.
HK:1378.HK:China Hongqiao
China Hongqiao surged as much as 8% on a profit alert forecasting 35% interim net profit growth. Brokers recommended a buy.
HK:0388.HK:HKEX, HK:2318.HK:Ping An
Broader sentiment lifted names like HKEX and Ping An.
HK:9868.HK:Pop Mart
UBS reiterated Pop Mart as a top pick with a Buy rating and a price target of HKD329.2.
HK:1928.HK:Galaxy Entertainment
HSBC Research expects Macau GGR to grow 11–15% YoY in June and recommends buying Galaxy Entertainment and MGM China.
HK:2282.HK:MGM China
HSBC Research expects Macau GGR to grow 11–15% YoY in June and recommends buying Galaxy Entertainment and MGM China.
HK:0660.HK:Green Tea Group
Citi initiated coverage on Green Tea Group with a Buy rating and a price target of HKD9.4.
HK:2382.HK:Sunny Optical
Daiwa cut Sunny Optical’s target price to HKD72 but maintained an Outperform rating.
HK:6626.HK:Giant Biogene
Morgan Stanley lowered Giant Biogene’s target price to HKD74 while keeping an Overweight rating.
HK:1913.HK:Prada
HSBC reduced Prada’s price target to HKD66, expecting slower sales growth in the second half, but maintained a Buy rating.
HK:1030.HK:Seazen Group
UBS upgraded Seazen to Neutral, citing easing liquidity concerns.
HK:0017.HK:New World Development
BofA Securities warned that New World Development may need debt restructuring, with uncertainty over capital injection from its parent firm.
HK:1928.HK:Galaxy Entertainment Group
UBS expects Macau’s gaming revenue momentum to continue into July and named Galaxy Entertainment as top pick with a price target of HKD34.2.
HK:9992.HK:Pop Mart
Nomura raised Pop Mart’s target price to HKD291, calling recent negative headlines a buying opportunity.
HK:9988.HK:Alibaba (BABA-W)
Citi reaffirmed a Buy on Alibaba, highlighting the integration of Ele.me and Fliggy into its core business. Morgan Stanley named Alibaba its top sector pick.
HK:3690.HK:Meituan
Meituan is exiting select businesses to limit losses, according to Morgan Stanley.
HK:0700.HK:Tencent
Chinese investors have been steadily reducing their holdings in Tencent since April, a recent report shows.
US:NVDA:Nvidia
Nvidia CEO Jensen Huang began a scheduled share sale, unloading 100,000 shares in the latest transaction.
HK:1211.HK:BYD
BYD reportedly launched rebates estimated to exceed RMB1 billion to support dealers.
HK:1810.HK:Xiaomi
Lei Jun unveiled new colors for the Xiaomi YU7, including “Dawn Pink,” aiming to challenge US:TSLA:Tesla’s Model Y.
HK:HSBC:HSBC Holdings plc
HSBC Holdings bought back over 6.98 million shares on Monday, worth HKD642 million, continuing its capital return plan.
HK:9618.HK:Baidu-SW
Baidu-SW released its in-house AI development platform Comate AI IDE, marking a new step in independent AI tooling.
HK:3000.HK:Lens Technology
Lens Technology, a US:AAPL:Apple supplier, passed its stock exchange listing hearing, advancing its IPO process.
HK:0008.HK:Logan Group
Logan Group reportedly proposed five domestic debt restructuring options to creditors, seeking financial stabilization.
HK:2382.HK:Sunny Optical
Daiwa maintained its Outperform rating but cut Sunny Optical’s target price to HKD72 due to market pressures.
US:S27.SI:S&P 500
HK:Cloudbreak-B
Cloudbreak-B’s IPO opened with an entry fee of HKD5,100.90.
US:AMZN:Amazon
Amazon plans to invest GBP40 billion in the UK over the next three years, expanding its infrastructure and data capabilities.
US:QQQ:Nasdaq Composite
CN:ByteDance
Zhang Yiming, founder of ByteDance, topped the new Fortune 500 wealth creators list, with Deepseek’s Liang Wenfeng ranking 10th.
US:TSLA:Tesla
UBS maintained a Sell rating on Tesla despite raising its valuation for the company’s Robotaxi initiative.
US:AAPL:Apple
Apple launched new nationwide subsidy offers in China with discounts of up to RMB2,000 on select products, intensifying competition in the Chinese smartphone market.
KL:SDG:SD Guthrie Bhd
SD Guthrie will sell 300 acres and jointly develop another 300 acres in Port Dickson with the Negeri Sembilan government into an industrial park. Master plan is due Q1 2026.
KL:IGBREIT:IGB Real Estate Investment Trust
IGB REIT is acquiring Mid Valley Southkey Mall in Johor for RM2.65 billion in cash and units from Southkey Megamall Sdn Bhd, a unit of KL:IGB:IGB Bhd.
KL:CRESBLD:Crest Builder Holdings Bhd
Crest Builder won a RM233.3 million job to build two serviced apartment blocks in Bukit Jalil from Sunway Flora Sdn Bhd.
KL:UNIWALL:Uni Wall APS Holdings Bhd
Uni Wall secured a RM89.64 million sub-contract for façade and glazing works at Pavilion Damansara Heights, awarded by BUCG (M) Sdn Bhd.
KL:UEMS:UEM Sunrise Bhd
UEM Sunrise expects minimal impact from the SST hike, noting most projects are residential and tax-exempt.
KL:CKI:Cuckoo International (MAL) Bhd
Cuckoo International will focus on rice cookers and expand with 10 new stores. Shares closed flat at RM1.08 on debut.
KL:ADVCON:Advancecon Holdings Bhd
Advancecon is claiming RM15.22 million from CCC-ECRL over unpaid work on the ECRL project. The claim is disputed.
KL:GLOMAC:Glomac Bhd
Glomac’s Q4 net profit fell 84% to RM2.41 million on higher taxes. Revenue rose 20% to RM74.94 million. Declared 1.25 sen dividend.
KL:PLABS:PeterLabs Holdings Bhd
PeterLabs reinstated Datuk Loh Saw Foong as executive director and GM of its unit Thye On Tong, lifting his suspension.
KL:HEKTAR:Hektar Real Estate Investment Trust
Hektar REIT will buy 90% of Terramark Sdn Bhd, owner of 198-acre solar farm land in Perlis, for RM26 million.
KL:PARKSON:Parkson Holdings Bhd
Irelia Management Sdn Bhd became a substantial shareholder of Parkson, acquiring a 6.8% stake via open market.
KL:AEM:AE Multi Holdings Bhd
Erdasan Group sold 5.96% of AE Multi, but remains top shareholder with 25.37% after the disposal.
KL:KRONO:Kronologi Asia Bhd
Kronologi Asia is optimistic for FY2026, with FY2025 net profit rising 33% to RM11.47 million despite flat revenue.
SGX:Z74.SI:Singtel
Singtel has unveiled an enhanced Multi-Domestic Connectivity solution, partnering with Lenovo Connect and floLIVE to streamline global IoT deployments. The offering merges multi-IMSI SIM and cloud-native technology, enabling centralized, regulatory-compliant IoT connectivity across 190 markets. Singtel’s Aggregator Connectivity Management Platform simplifies integration and supports global eSIM standards such as eUICC (SGP.32).
SGX has launched six new Singapore Depository Receipts (SDRs), raising its shelf to 21. The latest batch includes
SGX:S68.SI:Singapore Exchange (SGX)
HK:0981.HK:Semiconductor Manufacturing International Corp (SMIC)
HK:9618.HK:JD.com
HK:0857.HK:PetroChina
TH:BDMS:Bangkok Dusit Medical Services
TH:CPF:CP Foods
TH:GULF:Gulf Development
HK:1211.HK:BYD
HK:9988.HK:Alibaba
The move extends coverage to 50% of the Hang Seng and SET50 indices.
SGX noted that SDR trading has soared, with daily turnover hitting $5.4 million in May. Over 60% of assets under management (AUM) now stem from 7,000+ retail investors. HK:1211.HK:BYD and HK:9988.HK:Alibaba remain top-traded SDRs this year.
SGX:J69U.SI:Frasers Centrepoint Trust (FCT)
Frasers Centrepoint Trust (FCT) has priced S$200 million subordinated perpetual securities at 3.98% under its S$3 billion debt programme. Issued in S$250,000 denominations, the notes are set to be listed on SGX on Jul 3, 2025. SGX:O39.SI:OCBC Bank acts as sole lead manager. Proceeds will support FCT’s investments, refinancing, asset enhancements, and working capital needs.
US:DIA:Dow Jones Industrial Average
Wall Street closed sharply higher on Tuesday as markets rallied on hopes that the fragile ceasefire between Israel and Iran will hold. The US:DIA:Dow Jones Industrial Average jumped 507.24 points (+1.19%) to 43,089.02. The US:S27.SI:S&P 500 climbed 1.11% to 6,092.18, nearing its 52-week high, while the US:QQQ:Nasdaq Composite added 1.43% to 19,912.53. The Nasdaq 100 notched a record close, rising 1.53% to 22,190.52.
Fed Chair Jerome Powell told Congress that the Fed is in no rush to cut rates and will watch how tariffs from President Trump impact the economy. Pantheon Macroeconomics sees potential rate cuts by September due to expected labor market weakness.
US:UCO:crude oil
Oil prices fell for a second day, with US:UCO:crude oil tumbling 6% and Brent dropping 6.1%, after already shedding over 7% on Monday. Piper Sandler warned a break below the $64–$65 range could push prices below $60.
US:DAL:Delta Air Lines
Airline stocks gained on cheaper fuel. US:UAL:United Airlines and US:DAL:Delta Air Lines each rose over 2%.
US:UAL:United Airlines
Airline stocks gained on cheaper fuel. US:UAL:United Airlines and US:DAL:Delta Air Lines each rose over 2%.
US:AVGO:Broadcom
Tech and semiconductors led gains as risk appetite grew. US:AVGO:Broadcom surged nearly 4% to a record high. US:NVDA:Nvidia rose 2.6%, and US:AMD:Advanced Micro Devices jumped over 5%.
US:MSFT:Microsoft
18 stocks in the US:S27.SI:S&P 500 hit 52-week highs, with 14 at all-time highs including:
US:TSLA:Tesla
US:MSFT:Microsoft
US:NFLX:Netflix
US:TTWO:Take-Two Interactive
US:RCL:Royal Caribbean
US:JPM:JPMorgan
US:NDAQ:Nasdaq Inc
US:GEV:GE Vernova
US:HWM:Howmet Aerospace
US:IBM:International Business Machines
US:FDX:FedEx
US:FDX:FedEx fell 4.7% on weak guidance despite a Q4 earnings beat.
US:AVAV:AeroVironment
US:AVAV:AeroVironment dropped 3.4% on soft FY EPS outlook.
US:WOR:Worthington Enterprises
US:WOR:Worthington Enterprises soared 9.7% after a strong earnings beat.
Cryptocurrencies
Bitcoin and other major cryptocurrencies rose after President Trump’s ceasefire announcement. A new crypto bill limiting SEC oversight was introduced in the Senate, and Robinhood CEO Vlad Tenev said it would help the U.S. catch up globally. Financial giants including Goldman Sachs and Citadel Securities invested in Digital Asset, a blockchain company focused on institutional crypto infrastructure.
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