📉 Wall Street Slips as Investors Brace for Nvidia Earnings

US:QQQ:Nasdaq Composite
US:S&P 500:S&P 500
US:DGT:Dow Jones Industrial Average

Stocks ended lower Monday with investors cautious ahead of Nvidia’s earnings later this week.

The Nasdaq Composite slipped 0.22% to 21,449.29.

The S&P 500 lost 0.43%, closing at 6,439.32.

The Dow Jones Industrial Average fell 349 points (0.77%) to 45,282.47.

US:NVDA:Nvidia

Nvidia shares rose about 1% intraday before paring gains, as analysts continued to endorse the AI chipmaker. Investors see Wednesday’s earnings report as pivotal for the ongoing AI boom.

US:INTC:Intel

Intel initially extended gains after Commerce Secretary Howard Lutnick revealed the U.S. government took a 10% stake in the company, a move framed by the Trump administration as part of a sovereign wealth strategy. However, shares later slipped about 1%. President Donald Trump signaled more such deals could follow.

US:BTC:Bitcoin
US:COPS:Copper
oil:US:UCO:Oil

Markets pulled back after Friday’s rally, sparked by Fed Chair Jerome Powell’s hint that rate cuts could begin in September. Traders now price an 84% chance of a quarter-point cut, according to CME FedWatch. Analysts caution that gains may remain restrained until the Fed decision.

US:NVDA:Nvidia

Despite bubble fears, investors and analysts like Louis Navellier stress the AI trade remains strong. Nvidia’s results are seen as a key test for tech momentum.

US:CSX:CSX Corp
US:BRK.A:Berkshire Hathaway

CSX shares tumbled nearly 6% after news that CEO Joseph Hinrichs met with Warren Buffett and Berkshire’s Greg Abel. Both emphasized no takeover was planned but suggested greater cooperation.

US:OKTA:Okta

Okta surged on an upgrade from Truist, which raised its rating to “buy” and hiked the target price to $125, implying 35% upside. Analysts expect Okta to consolidate further in the identity security market.

US:GRNY:Fundstrat Granny Shots US Large Cap ETF

Fundstrat’s Tom Lee filed for two new ETFs after the success of the Granny Shots US Large Cap ETF (GRNY), which crossed $2 billion AUM less than a year after launch.

US:UBS:UBS Group

UBS urged investors to deploy cash, forecasting up to four Fed rate cuts by January 2026. The bank highlighted U.S. tech, healthcare, utilities, and financials as top sectors.

📰 Big Moves in Singapore & Regional Markets: Property Deals, Listings & Analyst Calls

SGX:J69U.SI:Frasers Centrepoint Trust
SGX:TQ5.SI:Frasers Property

Frasers Centrepoint Trust (FCT) has sold 10 strata lots at Yishun 10 to Frasers Property for $34.5 million. The sale, valued by JLL and Savills, aligns with FCT’s strategy to optimise its portfolio and reduce debt. With this deal, Frasers Property now assumes full ownership of Yishun 10, including the Golden Village cineplex acquired earlier this month.

US:CYD:China Yuchai
SGX:H22.SI:Hong Leong Asia

China Yuchai, a Hong Leong Asia subsidiary, is exploring a foreign stock exchange listing for one of its indirect subsidiaries. Preparations are underway, but the plan remains subject to due diligence, regulatory approval, and market conditions. China Yuchai posted 30.8% revenue growth in 1HFY2025.

SGX:5LY.SI:Marco Polo Marine

Marco Polo Marine’s 49%-owned subsidiary PKR Offshore is targeting a Taiwan listing by 3Q2026. The listing aims to fund specialised offshore wind vessels and strengthen its position in Asia’s renewable energy sector.

SGX:S68.SI:SGX
SGX:ACRA.SI:Accounting and Corporate Regulatory Authority (ACRA)

ACRA and SGX RegCo have extended timelines for mandatory climate reporting. Non-STI constituents with market caps above $1 billion now start full ISSB-based disclosures from FY2028 instead of FY2025, while smaller firms have till FY2030. Scope 3 emissions remain voluntary.

SGX:D05.SI:DBS Group
SGX:CLAR.SI:CapitaLand Ascendas REIT
SGX:AJBU.SI:Keppel DC REIT
SGX:K71U.SI:Keppel REIT
SGX:JYEU.SI:Lendlease Global Commercial REIT
SGX:HMN.SI:CapitaLand Ascott Trust

UOB Kay Hian remains bullish on S-REITs, expecting US Fed rate cuts to boost liquidity. Analyst Jonathan Koh’s top picks include CapitaLand Ascendas REIT (CLAR), Keppel DC REIT, Keppel REIT, Lendlease REIT, and CapitaLand Ascott Trust, all rated “buy” with upside potential from resilient income and sector growth.

KL:0141.KL:Thomson Medical Group

Thomson Medical Group launched its RM18 billion Johor Bay integrated development, featuring healthcare, luxury residences, hospitality, and commercial projects. The first phase includes the Thomson Hospital Iskandariah and a 47-storey luxury tower.

SGX:H22.SI:Hong Leong Asia

OCBC Investment Research initiated coverage on Hong Leong Asia with a “buy” call and fair value of $3.40. Growth is driven by powertrain demand through its subsidiary China Yuchai and steady building materials demand.

SGX:S58.SI:SATS

SATS posted a 9.1% earnings rise to $70.9 million for 1QFY2026 on stronger food solutions and cargo volume. Analysts from UOBKH, DBS, CGS, OCBC, and Citi kept “buy” ratings, though PhillipCapital downgraded to “accumulate” after recent price gains.

Private:Mapletree Investments

Mapletree Investments entered the Australian student housing market with a Perth site acquisition for an 835-bed project valued around A$300 million. This marks its first student housing project in Australia.

SGX:558.SI:UMS Holdings

UMS Holdings reported 14% revenue growth and 5% net profit rise in 1HFY2025. CGS International resumed coverage with an “add” call and $1.87 target, citing benefits from new Penang facilities and semiconductor sector recovery.

SGX:S08.SI:Singapore Post

Maybank Securities downgraded Singapore Post (SingPost) to “hold” with a lower target price of 51 cents. Analysts flagged weaker core operations and a pause in asset divestments as catalysts fade.

SGX:I07.SI:ISDN Holdings

ISDN Holdings posted 22% revenue growth in 1HFY2025, boosted by industrial activity in China and ASEAN, plus hydropower expansion in Indonesia. Forex losses weighed on results, but CGS International kept an “add” call with a 44-cent target.Teho

• Revenue (FY2025): S\$64.47 million (+6.7% YoY)
• Gross Profit (FY2025): S\$23.38 million (+3.9% YoY)
• Profit After Tax (FY2025): S\$1.46 million (+62.3% YoY)
• Earnings Per Share (FY2025): 0.62 cents (+63.2% YoY)
• Net Asset Value per Share: 10.57 cents (FY2025), up from 10.03 cents (FY2024)
• Dividend Declared: S\$0.001 per ordinary share, unchanged from previous year

Rex International Unveils Significant Oil Discoveries at Norway’s Brage Field

First Resources Limited Launches Mandatory Tender Offer for PT Austindo Nusantara Jaya Tbk Shares After Majority Acquisition

KSH Holdings Announces Proposed Private Placement of 28.9 Million Treasury Shares at S$0.305 Each

🌏 Big Bets: Thomson’s RM18b Mega Project, Mapletree Expands in Australia, Oil Prices Jump

KL:0104.KL:Thomson Medical Group

Thomson Medical Group has unveiled a RM18 billion Johor Bay mega project in Malaysia, spanning healthcare, luxury residences, hospitality, commercial and lifestyle spaces. The first phase includes Thomson Hospital Iskandariah and a 47-storey residential tower, with construction starting by 2026. The development sits within the Johor-Singapore Special Economic Zone (JS-SEZ), near the RTS Link station.

Private:Mapletree Investments

Mapletree Investments, owned by Temasek, has made its first Australian student housing acquisition in Perth. The planned 835-bed facility, slated for completion in 2028, adds to Mapletree’s global portfolio of 79 student housing assets across the US, UK, Canada, and Germany. The move comes ahead of Australia raising its cap on foreign students in 2026.

oil:US:UCO

Oil prices rose about 2% on Monday as traders braced for possible US sanctions on Russian oil and continued Ukrainian drone attacks on Russian energy infrastructure. Brent settled at US$68.80 and WTI at US$64.80. While geopolitical risks drove prices higher, Opec+’s reversal of production cuts is expected to temper supply pressures.

🇲🇾 Corporate Malaysia Earnings & Moves: Insurance, Energy, Property, and Highways in Spotlight

KL:AEON:AEON Co (M) Bhd

AEON Co posted a 55.9% drop in 2QFY2025 net profit to RM12.27m from RM27.85m a year ago, hit by weaker retail sales without major festive events. Revenue slipped 2.1% y-o-y to RM999.65m. No dividend was declared.

KL:AJI:Ajinomoto (Malaysia) Bhd

Ajinomoto Malaysia delivered a 27.7% rise in 1QFY2025 net profit to RM24.17m from RM18.93m on stronger sales and lower material costs. Revenue climbed 5.5% to RM180.9m. No dividend declared.

KL:ALLIANZ:Allianz Malaysia Bhd

Allianz Malaysia saw 2QFY2025 net profit jump 28.2% to RM214.04m from RM167.02m, supported by growth across general and life insurance. Revenue rose 10.9% to RM1.52b. No dividend declared.

KL:AVI:Avillion Bhd

Avillion welcomed new investors as David Low Yi Ngo, son of coal tycoon Low Tuck Kwong, bought a 9% stake for RM9.25m. Earlier this month, Bayan Resources COO Lim Chai Hock acquired 15%, making him the second-largest shareholder.

KL:BIMB:Bank Islam Malaysia Bhd

Bank Islam’s 2QFY2025 net profit slipped 8.3% to RM126.69m from RM138.08m due to margin compression, higher impairments and costs. Revenue rose 10.7% to RM696.62m. No dividend declared.

KL:ELRIDGE:Elridge Energy Holdings Bhd

Elridge Energy recorded a 6.2% increase in 2QFY2025 net profit to RM12.43m, lifted by higher other operating income. Revenue was flat at RM104.14m. No dividend declared.

KL:FGV:FGV Holdings Bhd

FGV Holdings will be delisted from Bursa Malaysia on Aug 28, after its parent FELDA succeeded in its takeover bid. Trading was suspended on Monday.

KL:GAMUDA:Gamuda Bhd
KL:NAIM:Naim Holdings Bhd

Gamuda and Naim Holdings’ JV secured a RM1.13b contract to build the Limbang stretch of Sarawak’s Northern Coastal Highway. The 14.7km project includes bridges and flyover, to be completed in four years.

KL:GAMUDA:Gamuda Bhd
Private:Gentari Sdn Bhd (Petronas)

Gamuda partnered with Petronas’ Gentari to develop 1.5GW of solar and storage projects to supply hyperscale data centres under Malaysia’s corporate renewable energy scheme.

KL:GDB:GDB Holdings Bhd

GDB Holdings’ 2QFY2025 net profit surged more than fivefold to RM21.75m from RM4.16m, on stronger project contributions. Revenue jumped 288% to RM180.86m. Declared 0.5 sen dividend.

KL:HAILY:Haily Group Bhd
KL:TENAGA:Tenaga Nasional Bhd

Haily secured a RM50.08m subcontract for Johor’s Laman Citra Phase 3 housing project, covering 136 homes and a Tenaga Nasional substation.

KL:HEXTAR:Hextar Global Bhd

Hextar Global posted a 16.8% decline in 2QFY2025 net profit to RM15.93m on weaker specialty chemicals sales. Revenue fell 16.6% to RM177.52m. Declared 0.5 sen dividend.

KL:HLIND:Hong Leong Industries Bhd

Hong Leong Industries saw 4QFY2025 profit rise 19.2% to RM117.16m, boosted by higher motorcycle sales and lower raw material costs. Revenue gained 8.4% to RM841.9m. No dividend declared.

KL:IVORY:Ivory Properties Group Bhd

Ivory Properties CEO Datuk Low Eng Hock resigned, though retaining his stake. Meanwhile, subsidiary Ivory Indah Sdn Bhd entered receivership after loan defaults with CIMB Islamic.

KL:KERJAYA:Kerjaya Prospek Group Bhd

Kerjaya Prospek posted a 46.8% jump in 2QFY2025 profit to RM54.44m, with revenue up 36.4% to RM539.46m on stronger property contributions. Declared 3 sen dividend.

KL:MAGMA:Magma Group Bhd

Magma Group said chairman Datuk Seri Lee Hock Seng is assisting in the MBI scandal probe, though unrelated to its operations.

KL:MFLOUR:Malayan Flour Mills Bhd

Malayan Flour Mills’ 2QFY2025 profit surged 49.1% to RM28.07m, driven by strong flour and grain trading and turnaround at Indonesian JV PT Bungasari. Revenue rose 6.4% to RM800.23m. Declared 1.5 sen dividend.

KL:MEDIAC:Media Chinese International Ltd

Media Chinese reported a RM7.41m loss in 1QFY2025, widening from RM3.54m, marking its 10th straight quarter in the red on weaker ad revenue.

KL:MISC:MISC Bhd

MISC’s 2QFY2025 net profit fell 14.2% to RM464.4m from RM540.9m on weaker gas and marine operations. Revenue dropped 18.3% to RM2.72b. Declared 8 sen dividend.

KL:MNHLDG:MN Holdings Bhd

MN Holdings’ 4QFY2025 profit rose nearly 2.5x to RM12.06m on strong progress in substation projects. Revenue more than doubled to RM179.42m. No dividend declared.

KL:MSM:MSM Malaysia Holdings Bhd

MSM Malaysia narrowed its 2QFY2025 loss to RM29.74m from RM32.39m, supported by lower costs but offset by higher expenses. Revenue slipped 2% to RM813m.

KL:PETDAG:Petronas Dagangan Bhd

Petronas Dagangan’s 2QFY2025 profit dipped 3.9% to RM265.53m on weaker retail. Revenue fell 7.9% to RM9.07b. Declared higher dividend of 22 sen.

KL:PESTEC:Pestec International Bhd

Pestec settled a RM17.5m lawsuit with ex-CEO Paul Lim and former deputy chairman Lim Ah Hock over unpaid advances.

KL:PETGAS:Petronas Gas Bhd

Petronas Gas’ 2QFY2025 profit fell 2.3% to RM450.19m from RM468.99m, as revenue dropped 3.5% to RM1.59b. Declared 16 sen dividend.

KL:PLENITU:Plenitude Bhd

Plenitude’s 4QFY2025 profit surged to RM31.23m from RM1.38m, lifted by property and hotel divisions. Revenue rose 26.7% to RM170.27m.

KL:SDG:SD Guthrie Bhd

SD Guthrie appointed Mohd Haris Mohd Arshad as deputy group MD, effective Sept 1.

KL:SAG:Signature Alliance Group Bhd

Signature Alliance posted RM6.76m profit in 2QFY2025 on RM118.13m revenue, down 57% q-o-q from 1QFY2025. Newly listed, no y-o-y comparison.

KL:SCGBHD:Southern Cable Group Bhd

Southern Cable delivered a record 2QFY2025 profit of RM31.64m, more than doubling y-o-y on stronger product mix and higher sales. Revenue rose 34% to RM419.3m. Declared 1.2 sen dividend.

KL:THPLANT:TH Plantations Bhd

TH Plantations’ 2QFY2025 profit rose 13.3% to RM11.79m, aided by stronger CPO and palm kernel prices. Revenue gained 11.1% to RM220.02m. No dividend declared.

KL:XIN:Xin Synergy Group Bhd

Xin Synergy lodged a police report against ex-directors, alleging irregularities in past moneylending operations.

KL:PECCA:Pecca Group Bhd

Pecca’s 4QFY2025 profit fell 7.2% to RM13.52m on factory shutdowns and softer sales. Revenue slipped 3.9% to RM52.84m. Declared 1 sen dividend.

📊 Hong Kong Earnings & Market Buzz: Tech, Pharma, Property and Retail in Focus

HK:0354.HK:Chinasoft International

Chinasoft International reported interim net profit of RMB316m, up 10.4% y-o-y, as turnover rose 7.3% to RMB8.51b. EPS came in at RMB12.64 cents. No dividend was declared.

HK:1896.HK:Maoyan Entertainment

Maoyan Entertainment posted interim net profit of RMB178m, down 37.3% y-o-y, despite turnover climbing 13.9% to RMB2.47b. EPS stood at RMB0.16. No dividend declared.

HK:9992.HK:Pop Mart

Pop Mart launched new Twinkle Twinkle plush keychain blind boxes, priced at RMB79 each. Sets have already been resold online for over RMB1,450, underscoring strong demand for its latest IP.

HK:1276.HK:Hengrui Pharma

Hengrui Pharma gained approval from China’s drug regulator for clinical trials of its anti-tumor drug HRS-6093, after investing RMB29.84m in its development.

HK:0754.HK:Hopson Development Holdings

Hopson Development issued a profit warning, expecting at least HKD1.6b interim loss for 1H2025, reversing from a profit last year due to weaker recognized property sales.

HK:2669.HK:China Overseas Property

China Overseas Property posted 4.3% y-o-y rise in interim net profit to RMB769m. It declared an interim and special dividend totaling HKD10 cents.

HongKong:3115.HK:Hang Seng Index

The Hang Seng Index surged 490 points to close at its highest level in nearly four years, boosted by tech, auto, casino, and commodity stocks.

HK:9866.HK:Nio

Nio rolled out a limited Maillard-style edition of its Firefly EV, capped at 333 units.

HK:9618.HK:JD.com
Private:Wanda Group

JD.com and Wanda Group invested RMB8.05b to form a partnership firm, strengthening ties between e-commerce and commercial property sectors.

HK:2319.HK:Li Ning

Li Ning received target price upgrades from Morgan Stanley (HKD25) and BOCI (HKD18.9), though both flagged challenges in 2H2025 as non-cash expenses clouded results.

HK:1299.HK:AIA Group

Morgan Stanley reiterated Overweight on AIA, saying its 1H2025 value of new business was in line with expectations.

HK:2202.HK:China Vanke

Citi maintained Neutral on China Vanke, noting only short-term relief in its financial position.

HK:0386.HK:Sinopec Corp

BOCI raised Sinopec Corp’s target price to HKD4.78 while reiterating Hold, citing cautious outlook despite stable operations.

SGX:S27.SI:S&P 500

Jefferies lifted its year-end target for the S&P 500 to 6,600, reflecting stronger U.S. equity momentum.

HK:1114.HK:Brilliance China Automotive

BOCI raised Brilliance China’s target to HKD3.7 but questioned sustainability of its high dividends.

HK:0489.HK:Dongfeng Motor Group

BOCI upgraded Dongfeng Motor to Buy, hiking target price to HKD10.3 after recent performance improvements.

HK:1093.HK:CSPC Pharmaceutical

CICC raised CSPC Pharma’s target to HKD13, while Citi set it at HKD12.1 after mixed interim results.

HK:823.HK:Link REIT
HK:0017.HK:New World Development

New World Development reportedly paid USD440m land premium for a Northern Metropolis project in Hong Kong, signaling continued property sector investment.

HK:2388.HK:BOC Hong Kong (BOCHK)
HK:1024.HK:Kuaishou Technology

Kuaishou was fined RMB89.1m for unauthorized content distribution but later received a target price upgrade to HKD84 by CMBI, with rating maintained at Buy.

HK:2899.HK:Zijin Mining

Citi raised Zijin Mining’s target price to RMB23.9 and placed the stock on a 90-day positive catalyst watch, citing supportive commodity trends.

HK:2269.HK:Wuxi Biologics

CLSA lifted Wuxi Biologics’ target to HKD42.6, expecting growth momentum to resume.

HK:2380.HK:China Power

Citi raised China Power’s target price to HKD3.5 after interim results slightly beat expectations.

HK:297.HK:Sino Fertilizer (Sinofert)

Sinofert slipped over 3% despite reporting a 5.1% rise in 1H2025 net profit.

HK:148.HK:Kingboard Holdings
HK:1888.HK:Kingboard Laminates

Kingboard Holdings shares dropped more than 3% even after interim net profit surged 70% and dividends were hiked. Its unit Kingboard Laminates fell 7% despite a 28.2% rise in profit to HKD933m and a higher dividend of 15 cents.

📈 Hong Kong Market Spotlight: Earnings Beats, Analyst Upgrades & Property Moves

HK:148.HK:Kingboard Holdings

Kingboard Holdings reported interim net profit of HKD2.58b, up 71.3% y-o-y, with an interim dividend of 69 cents declared.

HK:0868.HK:Xinyi Glass

Morgan Stanley lifted Xinyi Glass’s target price to HKD7.1 but kept an Underweight rating.

HK:1810.HK:Xiaomi

Haitong International cut Xiaomi’s target price to HKD59.5, citing subsidy suspensions in 2H2025, though kept an Outperform rating.

HK:1024.HK:Kuaishou Technology

Jefferies raised Kuaishou’s target price to HKD94, improving quarterly forecasts, while Nomura also hiked its TP to HKD90 after 2Q earnings beat.

HK:2319.HK:Li Ning

Li Ning was the focus of multiple broker calls:

• Nomura raised TP to HKD20.7, Neutral.

• Goldman Sachs lifted TP to HKD19.8, raising 2026/27 forecasts.

• UBS raised TP to HKD20.5, Neutral.

• HSBC nudged TP to HKD17.7, outlook still bleak.

• CICC raised TP to HKD22.68, Outperform.

• Daiwa upgraded to Hold, TP HKD20.

• Jefferies cut TP to HKD48, citing higher sponsorship expenses.

HK:2269.HK:Wuxi Biologics

Goldman Sachs lifted Wuxi Biologics’ TP to HKD29.3, expecting gross margin improvements in 2H2025.

HK:2018.HK:AAC Technologies

HSBC Research cut AAC Technologies’ target price to HKD56 after 1H earnings missed expectations.

HK:DOBOT:Dobot (Unlisted, IPO Coverage)

Daiwa initiated coverage of Dobot with a Buy rating and TP of HKD65.5.

HK:TUHU:Tuhu-W

Goldman Sachs raised Tuhu-W’s target price to HKD22.4, maintaining a Buy call.

HK:3888.HK:Kingsoft

Jefferies cut Kingsoft’s target price to HKD40 after 2Q revenue and adjusted operating profit missed forecasts.

HK:522.HK:ASMPT

Citi said China’s AI ecosystem is a clear positive for ASMPT, maintaining optimism on its outlook.

HK:2202.HK:China Vanke

China Vanke surged over 10% despite reporting deeper 1H losses, as relief came from no offshore debt maturities until 2027.

HK:6060.HK:ZA Online

HTSC lifted ZA Online’s TP to HKD28, citing impressive interim results.

🚨 Hong Kong & China Markets: Analyst Upgrades, Corporate Moves, and Earnings Shake-Up

CN:SHCOMP:Shanghai Composite Index

HSBC Global Research raised its year-end target for the Shanghai Composite Index to 4,000, outlining four key investment themes.

HK:0017.HK:New World Development

New World Development surged as much as 10% intraday, even as it deferred perpetual securities distribution to Sept 7.

US:BABA:Alibaba

Alibaba launched an upgraded Autumn Rider uniform with an additional RMB100m investment to enhance rider rewards and safety. Separately, reports said its website will reorganize business segments for clarity.

HK:1818.HK:Zhaojin Mining

UBS raised Zhaojin Mining’s target price to HKD25.3, despite 1H earnings missing estimates.

HK:9866.HK:Nio

Nio-SW surged over 13% after Citi listed five reasons to buy, though CEO Li Bin warned sustained high pricing could hurt competitiveness.

HK:2013.HK:Weimob

Weimob jumped 16% after CEO Sun Taoyong increased his stake by 4 million shares.

HK:1299.HK:AIA Group

Goldman Sachs lifted AIA’s target price slightly to HKD84, maintaining a Buy rating.

HK:1114.HK:Brilliance China Automotive

UBS raised Brilliance China’s TP to HKD3.4, citing improved interim profit.

HK:1797.HK:East Buy

East Buy dropped over 6% after reporting a staggering 99.7% plunge in annual net profit.

HK:2899.HK:Zijin Mining

Zijin Mining will invest RMB5b to establish a rare-earth metals company, further diversifying its portfolio.

HK:0489.HK:Dongfeng Motor

Dongfeng Motor skyrocketed 69% on resumption of trading after plans to list Voyah shares in Hong Kong and privatize remaining businesses.

HK:9992.HK:Pop Mart

Pop Mart gained after announcing a mini Labubu release, priced at RMB79 each, going online Thursday night.

HK:9987.HK:JD Logistics
HK:0728.HK:China Telecom

Pop Mart, China Telecom, and JD Logistics all opened higher on news of their blue-chip entry, rising 3%, 2.4% and 3.9%, respectively.

HK:0388.HK:HKEX
HK:0700.HK:Tencent
HK:2899.HK:Zijin Mining
HK:1209.HK:China Resources Mixc
HK:1177.HK:Sino Biopharm
HK:1929.HK:Chow Tai Fook

The Hang Seng Index opened 267 points higher, boosted by Nio (+15%) and Dongfeng (+69%). Gains spread to Tencent, HKEX, Zijin Mining, China Resources Mixc, Sino Biopharm, and Chow Tai Fook, all hitting new highs.

HK:0388.HK:HSBC Holdings

HSBC Holdings repurchased 3.38m+ shares worth HKD344m, even as reports surfaced its Swiss private bank will cut ties with over 1,000 Middle Eastern clients.

HK:1099.HK:Sinopharm

Sinopharm reported interim net profit of RMB3.47b, down 6.4% y-o-y. No dividend declared.

CN:CNNEA:China National Energy Administration

China’s total installed power generation capacity grew 18.2% y-o-y as of end-July, according to the NEA.

Thank you