🚀 Markets Pulse: Nio Surges on $1.2B Raise, Nvidia-Intel Deal Lifts AEM, Metro Clarifies, Zijin Gold IPO Looms, AvePoint Debuts, Pop Mart Slumps

SGX:NIO:Nio
HK:9866.HK:Nio
Nio’s shares jumped over 5% after completing a US$1.2 billion share sale to fuel EV research, battery swapping networks, and new models. Shares rose to US$7.58 in Singapore and HK$59.20 in Hong Kong.

SGX:AWX.SI:AEM Holdings
US:INTC:Intel
US:NVDA:Nvidia
AEM soared nearly 18.5% to S$1.86 after Nvidia announced a US$5 billion investment in Intel and a chip design partnership. Intel, a long-time customer of AEM, will integrate Nvidia’s graphics tech in PC chips and supply processors for Nvidia’s data centre products.

SGX:M01.SI:Metro Holdings
SGX:F9D.SI:Boustead Singapore
SGX:AVM.SI:Boustead Projects
Metro Holdings clarified it has not entered any agreements tied to Boustead Singapore’s proposed UI Boustead REIT. Boustead Projects earlier divested stakes in four Singapore properties, valued at S$1.9 billion, into the planned trust.

HK:2899.HK:Zijin Mining
HK:ZijinGold:Zijin Gold International
Zijin Gold International launched plans for a HK$25 billion IPO in Hong Kong, set to be the world’s largest since May. The unit of Zijin Mining will sell 349 million shares at HK$71.59 each, with trading starting on Sep 29.

SGX:AVPT.SI:AvePoint
US:AVPT:AvePoint
AvePoint gained 4.4% on its Singapore Exchange debut, rising to S$20.36 from an IPO price of S$19.50. The Nasdaq-listed cybersecurity firm also climbed 3.4% to US$15.96 in the US, with proceeds from its dual listing benefiting existing shareholders.

HK:9992.HK:Pop Mart International
Pop Mart tumbled nearly 9% in Hong Kong after JPMorgan downgraded the stock, citing fading Labubu doll hype and stretched valuations. Despite the plunge, the stock remains up over 180% year-to-date, making it one of the Hang Seng Index’s top performers.

🌏 Market Buzz: Analyst Calls, IPO Surges, Big Recalls & Strategic Tie-Ups

HK:0020.HK:SenseTime-W
HSBC Research lifted SenseTime-W’s target price to HKD3.1 but maintained a “Hold” rating, citing ongoing margin and competitive pressures.

SZ:300750.SZ:CATL
CLSA raised CATL’s target price to HKD670 and reiterated an “Outperform” rating.

HK:1660.HK:SDHG
SDHG shares plunged 50% after the SFC flagged high shareholding concentration.

HK:0012.HK:Henderson Land
HK:0083.HK:Sino Land
JPMorgan forecast further rate cuts by Hong Kong banks and highlighted Henderson Land and Sino Land as top picks among homebuilders.

US:SPGI:S&P Global
HK:09988.HK:Alibaba
S&P Global and Alibaba Cloud announced a strategic partnership to deliver AI-powered commodities data in China for the first time.

HK:01810.HK:Xiaomi
Xiaomi Auto recalled more than 110,000 SU7 Standard Edition EVs due to technical issues.

HK:2295.HK:GenFleet-B
GenFleet-B surged 115.8% to HKD44 on its IPO debut.

HK:09866.HK:NIO-SW
The Hang Seng Index opened 38 points higher, buoyed by chip stocks, while NIO-SW advanced strongly.

HK:1818.HK:Zhaojin Mining
HK:2899.HK:Zijin Mining
Zhaojin Mining invested US$30 million in Zijin Gold International, strengthening its stake in the gold sector.

HK:02015.HK:Li Auto-W
SZ:300750.SZ:CATL
Li Auto-W and CATL announced a collaboration to advance battery technology innovation.

HK:2611.HK:Guotai Junan I
Guotai Junan International helped the State Bank of Mongolia issue its first offshore USD bond.

HK:1818.HK:Zhaojin Mining
HK:2899.HK:Zijin Mining
Zijin Gold International launched its IPO today, with cornerstone investors including Zhaojin Mining and GIC.

HK:1024.HK:Kuaishou-W
Kuaishou-W unveiled a new Kling AI-powered digital human feature, now open for beta testing.

HK:2899.HK:Zijin Mining
Zijin Mining shareholders will receive entitlement to about 17.45 million reserved shares of Zijin Gold International.

HK:0005.HK:HSBC Holdings
HSBC Holdings repurchased approximately 3.62 million shares year-to-date, totaling USD388 million.

🚨 Market Movers: HSI Climbs, Analysts Adjust Calls on NCI, MIXUE, China Life, Ping An, HKEX & More

HK:3115.HK:Hang Seng Index
At midday, the Hang Seng Index rose 31 points (0.1%) to 26,576, while the Hang Seng Tech Index added 38 points (0.6%) to 6,310. The Hang Seng China Enterprises Index climbed 32 points (0.3%) to 9,489.

HK:09988.HK:Alibaba
HK:03690.HK:Meituan
HK:01810.HK:Xiaomi
HK:00700.HK:Tencent
Among heavyweights, Alibaba advanced 1.5% to $160.7, Meituan gained 0.6% to $106.1, Xiaomi slipped 0.4% to $56.6, and Tencent rose 0.4% to $644.5.

HK:01336.HK:NCI
Morgan Stanley cut NCI’s target price to HKD37.9 but kept an “Underweight” rating, citing stable markets and improved new business margins despite tempered long-term outlook.

HK:02097.HK:Mixue Group
BofA Securities slashed Mixue Group’s target price from HKD465 to HKD390, reaffirming its “Underperform” stance amid a lower valuation outlook.

HK:02628.HK:China Life
Morgan Stanley raised China Life’s target price slightly to HKD25.7, keeping an “Overweight” rating, supported by strong sales and market gains.

HK:2318.HK:Ping An Insurance
Morgan Stanley lifted Ping An’s target price to HKD70 with an “Overweight” call, reflecting stronger earnings expectations.

HK:6098.HK:CG Services
CLSA boosted CG Services’ target price to HKD7.1 while maintaining a “Hold” rating.

HK:0388.HK:HKEX
Goldman Sachs raised HKEX’s target price to HKD544, highlighting underestimated southbound trading demand.

HK:09888.HK:Baidu
Goldman Sachs reiterated its “Buy” rating on Baidu, citing accelerated AI-driven value release.

HK:01810.HK:Xiaomi
Xiaomi announced a new OTA car upgrade with advanced parking, lane-keeping assistance, and anti-maloperation features.

HK:1310.HK:HKBN
HKBN fell 8.6% after completing a share offer, retreating from a 3-year high.

HK:2013.HK:Weimob
Weimob surged over 15% after raising HKD1.5 billion through a discounted share placement to Infini Capital.

SZ:300750.SZ:CATL
HK:1772.HK:Ganfeng Lithium
CATL rose 3% to a record high, while Ganfeng Lithium jumped 10% amid strong demand and full-capacity operations.

US:MLCO:Melco Resorts & Entertainment
Melco Resorts announced the closure of Grand Dragon Casino and Mocha Kuong Fat next week, with gaming tables to be reallocated.

📊 Rates Update: The 1-month HIBOR hit 3.41607%, marking a one-month high, with overnight HIBOR at 3.24536%.

Thank you