HK:3115.HK:Hangseng Index

Hang Seng Index Climbs 185 Points Midday, Tech and PV Stocks Lead Rally
The Hang Seng Index rose 185 points to 24,073 at midday, led by tech stocks.
HK:1024.HK:KUAISHOU-W jumped 3.4%, while HK:9626.HK:BILIBILI-W added 2.8%.
HK:9618.HK:JD.COM also posted gains alongside HK:9888.HK:BAIDU and HK:9988.HK:Alibaba. PV-related stocks boosted the rally as well.

Reserve Bank of Australia Holds Rates Steady at 3.85%

The Reserve Bank of Australia (RBA) surprised markets by keeping its interest rate unchanged at 3.85%. The decision, passed by a 6-3 vote, pushed the AUD/USD pair higher, with RBA noting easing inflation and already reduced rates compared to earlier in the year.

HK:0388.HK:HKEX

Shein Files for Confidential IPO in Hong Kong
Fast fashion giant Shein has filed a confidential IPO application with the Hong Kong Stock Exchange. The move is aimed at pressuring UK authorities to revive efforts for a London listing. Approval from the China Securities Regulatory Commission (CSRC) is being sought.

Morgan Stanley Flags Tariff Volatility; Bond Connect Trading Surges

Morgan Stanley predicts market volatility from tariff disputes but anticipates extensions for key partners.
Bond Connect reported Northbound bond trading volume exceeding RMB5.5 trillion YTD, with average daily turnover up 30x since launch.
HKMA’s Eddie Yue noted offshore RMB bond repo expansion could roll out by end-August.

RedNote (Xiaohongshu)

Xiaohongshu Rebrands RedNote App with Lifestyle Focus
Xiaohongshu announced a brand upgrade for its RedNote App, introducing the new slogan: “Your Lifestyle Interest Community.” All app store descriptions have been updated to reflect the rebranding.

HK:1928.HK:SANDS CHINA LTD
HK:2282.HK:MGM CHINA
HK:0027.HK:GALAXY ENTERTAINMENT

Brokerages Bullish on Macau Casino GGR; Top Picks Include Sands, Galaxy, MGM
Brokerage houses Jefferies, UBS, Macquarie, and CICC reported better-than-expected Macau gross gaming revenue (GGR) for the first six days of July. Top casino picks include SANDS CHINA LTD, GALAXY ENTERTAINMENT, and MGM CHINA.

US:NVDA:NVIDIA

Citi Raises NVIDIA TP to USD190 on Expanding AI Presence
Citi raised its target price for NVIDIA to USD190, citing its expanding AI market presence and future growth trajectory.

HK:1801.HK:INNOVENT BIO

Innovent Bio Target Price Lifted to HKD95 and HKD100 by Daiwa, CCBI
Daiwa lifted INNOVENT BIO’s target price to HKD95 and reiterated its Buy rating. CCBI followed by raising its TP to HKD100.

HK:0005.HK:HSBC HOLDINGS

HSBC Research Upgrades SMIC to Buy with HKD64 Target
HSBC Research upgraded HK:0981.HK:SMIC to Buy with a new target price of HKD64.

HK:06186.HK:CHINA FEIHE

Mixed Outlook for China Feihe: JPM Cuts TP to HKD6, HSBC to HKD4.9
JPMorgan and HSBC Global Research issued mixed outlooks on CHINA FEIHE, with JPM trimming TP to HKD6 and HSBC cutting to HKD4.9, maintaining Hold.

HK:00293.HK:CATHAY PAC AIR

UBS, M Stanley Positive on Cathay Pacific Earnings; TP Up to HKD12.9
M Stanley raised CATHAY PACIFIC AIRWAYS’ TP to HKD12.1 (Equalweight), while UBS expects a 35% rise in interim earnings, reiterating Buy with TP HKD12.9.

HK:00823.HK:LINK REIT
HK:0012.HK:HENDERSON LAND
HK:0016.HK:SHK PPT

Citi Reaffirms LINK REIT, SHK PPT, HENDERSON LAND Amid HIBOR Pressure
Citi highlighted pressure on HIBOR but reaffirmed its top REIT and developer picks: LINK REIT, SHK PPT, and HENDERSON LAND.

HK:0291.HK:CHINA RES BEER

BofA Maintains Buy on China Res Beer with HKD34.3 Target
BofA Securities maintained a Buy rating on CHINA RES BEER, citing sector leadership, with a TP of HKD34.3.

US:TSM:TSMC

Macquarie Cuts TSMC Profit Forecasts Despite Strong Pricing
Macquarie acknowledged TSMC’s strong pricing power but cut profit forecasts due to ongoing TWD appreciation.

HK:01316.HK:NEXTEER

BOCI Raises Nexteer TP to HKD5.5 on 7–8% Interim Revenue Growth
BOCI raised NEXTEER’s TP to HKD5.5, expecting a 7–8% YoY increase in interim revenue.

HK:00016.HK:NEW WORLD DEV

New World Dev Reportedly Selling K11 Shanghai Property for RMB2.85B
New World Development (NWD) reportedly plans to sell its K11 property in Shanghai for RMB2.85 billion.

HK:3690.HK:MEITUAN-W

Soochow Sees MEITUAN-W’s Promo Edge Over Rivals in Food Delivery
Soochow Securities compared discount coupons across three food delivery platforms, highlighting MEITUAN-W‘s dominant promotions like “0 yuan milk tea” and tiered discounts up to 20 yuan. JD Food Delivery and Taobao Instant Commerce were also evaluated, but MEITUAN-W showed stronger consumer incentives.