HK:3115.HK:Hangseng Index
The HSI rose 457 points (1.9%) to 24,485 at midday, driven by tech stocks.
HK:09988.HK:Alibaba (BABA-W), HK:03690.HK:MEITUAN-W, and HK:00981.HK:SMIC gained between 3.1% to 3.4%, while HK:09626.HK:BILIBILI-W also advanced.
Huang Yiping, a PBOC official, urged the Chinese government to introduce an additional RMB1.5 trillion economic stimulus package to revive domestic consumption amid deflation and U.S. tariff pressure.
Trump announced new tariffs: a 35% levy on Canadian goods beginning in August, and intends to impose 15-20% blanket tariffs on remaining trade partners. JPMorgan’s CEO warned a Fed rate hike may be more likely than markets currently expect.
Goldman Sachs raised its 12-month forecast for the MSCI Asia Pacific ex-Japan Index by 3% to 700, signaling a 9% expected return in USD. The upgrade was driven by a more favorable macroeconomic backdrop and easing tariff concerns.
Strategists upgraded HK stocks to market-weight, expecting them to benefit from a weakening USD due to the US Fed’s easing. They also highlighted Philippines and Taiwan as top beneficiaries of current policy shifts.
China, Japan, and Korea retained overweight ratings, while Malaysia was downgraded to underweight.
HK:00005.HK:HSBC HOLDINGS
HSBC HOLDINGS has repurchased over 1.28 million shares this year, totaling USD125 million.
US:BTC:Bitcoin
Bitcoin crossed the US$113,000 mark for the first time, highlighting bullish momentum in the crypto space.
HK:09866.HK:NIO-SW
NIO-SW advanced over 5% following the announcement of the Onvo L90’s starting price at RMB279,900.
HK:3750.HK:CATL
JPMorgan expects short-term price correction in CATL, issuing a target price of HKD400 with an Overweight rating.
HK:0666.HK:CC SECURITIES
Speculation over stablecoin developments sparked a sharp rally in brokers, with CC SECURITIES surging 50% and GTHT climbing 12%.
HK:0388.HK:HKEX
CICC projects a 31% YoY rise in Q2 2025 earnings for HKEX, maintaining an Outperform rating.
HK:03690.HK:MEITUAN-W
Morgan Stanley predicted MEITUAN-W would remain dominant in China’s food delivery market, despite a dip in market share.
