HK:3115.HK:Hangseng Index
The Hang Seng Index rose 168 points, closing at 24,060, while the Hang Seng Tech Index gained 60 points to finish at 5,299. XIAOMI-W surged over 4%, while WUXI BIO saw a decline of 5%. CHOW TAI FOOK advanced more than 6%. CCB, CHOW TAI FOOK, CHINA RES MIXC, CM BANK, and PSBC all hit new highs. Overall market turnover increased.
The Consumer Council reported that food delivery platforms in Hong Kong need to improve delivery time accuracy and refund mechanisms.
Industrial raw coal output surged 4.2% YoY in May; power generation grew 0.5%.
National real estate development investment fell 10.7% YoY in the first five months of 2025.
The national surveyed unemployment rate for May stood at 5%, beating expectations.
National fixed asset investment rose 3.7% YoY, slightly below the expected 4%.
May retail sales jumped 6.4% YoY, surpassing the 4.9% forecast.
Added value of industries above designated scale grew 5.8% YoY, missing 6% estimates.
Newly built commercial housing prices in first-tier cities dropped 1.7% YoY, with second-hand prices falling 2.7%.
Macau Chief Executive Sam Hou Fai stated that the closure of satellite casinos has had minimal impact on Macau’s GDP, while stabilizing employment remains a government priority.
Reports suggest that recent London trade talks between China and the US did not include rare earth magnets used for military purposes.
Shenzhen is expected to launch a pilot program for secondary listings of Red Chips and explore cross-border applications of central bank digital currency.
Reports indicate that the US has requested Vietnam to reduce its reliance on Chinese technology in export products.
The Trump administration reportedly intends to expand its travel ban to include 36 additional countries.
Passenger traffic at Hong Kong International Airport rose about 20% year-on-year in May, reaching 4.86 million travelers.
Visitor arrivals to Hong Kong surged 20% year-on-year in May.
The National Bureau of Statistics (NBS) stated that China’s real estate market remains in correction, with supply and demand imbalances persisting.
Hong Kong’s April total exports rose 12.3% year-on-year, while imports increased 13.4%.
Air India flight from Hong Kong to New Delhi returned due to technical issues.
Amigo’s first 100 taxis will begin trial service by end-June, fully operational by end-July.
The NPC Standing Committee will meet next week to review amendments to the Anti-Unfair Competition Law.
Deloitte revealed that over 40% of family offices are accelerating digital transformation, with 12% already adopting AI technologies.
The 1-month HIBOR fell to 0.53952%, marking a three-year low.
Citi estimates that between USD 70 billion to 100 billion in liquidity may be drained if the HKD exchange rate reaches its weak-side convertibility undertaking level.
UBS Report on HK:0017.HK:NEW WORLD DEV
UBS warned that some foreign banks’ absence from NEW WORLD DEV’s refinancing might raise concerns. However, Chinese banks are expected to step in to fill the funding gap.
HK:1093.HK:CSPC PHARMA
Nomura upgraded CSPC PHARMA to Buy and raised its target price to HKD10.22.
HK:1810.HK:XIAOMI-W
XIAOMI-W surged over 4% as Lei Jun announced the launch of Xiaomi YU7 and Xiaomi Pad 7S Pro at the end of June.
HK:1030.HK:SEAZEN
CLSA raised SEAZEN’s target price to HKD2.92 while maintaining an Outperform rating.
Separately, BofA Securities upgraded SEAZEN to Buy and lifted the target price to HKD3.2.
HK:0012.HK:HENDERSON LAND
UBS expects HENDERSON LAND’s share price to rise as its Central Harbourfront project secured pre-leases.
HK:2618.HK:CAFE DE CORAL H
CAFE DE CORAL H posted a 29.6% YoY drop in annual net profit to HKD233 million with a final dividend of 25 cents.
HK:9992.HK:POP MART
POP MART opened its jewelry brand popop in Beijing and Shanghai, while suspending offline LABUBU sales in South Korea due to high scalping activity.
HK:6690.HK:LEAPMOTOR
LEAPMOTOR opened an experience center in Hong Kong, launching right-hand drive versions of its T03 and C10 models.
HK:HK EXPRESS
HK:293.HK:CATHAY PAC AIR
CATHAY PAC AIR and HK Express reached 100 global passenger destinations ahead of schedule, with over HKD100 billion invested into fleet, cabin products, and services.
HK:2269.HK:WUXI BIO
WUXI BIO opened 3.6% lower after a major shareholder sold 82.94 million shares at a 5% discount, cashing out HKD2.2 billion.
HK:0388.HK:HKEX
HKEX announced over 160 firms are awaiting listing, with overseas investors returning to Hong Kong IPOs.
IFBH, parent company of ‘if’ coconut water, cleared the Hong Kong listing hearing.
US:UCO:crude oil
Oil prices continued to rise over 1% after Trump stated Israel and Iran may need to fight before a deal can be reached.
HK:300750.SZ:CATL
CATL was officially added to the Southbound Stock Connect list today.
SGX:HSBA.SI:HSBC HOLDINGS
HSBC HOLDINGS is reportedly expediting the selection of a new chair, with two Goldman Sachs executives among the candidates.
HK:0700.HK:TENCENT
On June 13, TENCENT repurchased another 982,000 shares for HKD500 million.
HK:0939.HK:CCB (Asia) Commercial Bank
CCB (Asia) Commercial Bank announced a 125% surge in new account openings during the first quarter of 2025.
HK:1024.HK:KUAISHOU-W
CICC raised KUAISHOU-W’s target price to HKD 80, valuing its Kling AI unit at USD 6 billion if spun off independently.
SGX:D05.SI:DBS GROUP
DBS plans to hire 100 bankers in Hong Kong over the next three years and open a new wealth management center next year.
HK:9992.HK:POP MART
POP MART’s new store in Hangzhou reportedly delayed opening due to internal adjustments amid scalping issues.
HK:1929.HK:CHOW TAI FOOK
HTSC upgraded CHOW TAI FOOK to Buy, expecting narrowing gold lending losses.
CICC raised its target price to HKD 14.92 with an Outperform rating.
BOCI lifted its target price to HKD 13.8 while maintaining a Buy rating.
Macquarie lowered its target price to HKD 14.1 but kept an Outperform rating.
HK:1566.HK:CAFE DE CORAL H
CAFE DE CORAL H reported a 29.6% drop in annual net profit to HKD 233 million, declaring a final dividend of 25 cents amid shifting market conditions.
US:UCO:crude oil
HK:0857.HK:PETROCHINA
HK:0883.HK:CNOOC
HK:0386.HK:SINOPEC CORP
JPMorgan warned oil prices could surge to USD 120 per barrel if regional conflicts escalate, while favoring PETROCHINA.
Morgan Stanley forecasts PETROCHINA to rise, setting a target price of HKD 8.75 with an Overweight rating.
Morgan Stanley also projects SINOPEC CORP shares to rise over the next 15 days and expects CNOOC to perform strongly within the same timeframe.
HK:0017.HK:HENDERSON LAND
HK:0016.HK:SHK PPT
JPMorgan noted HENDERSON LAND’s pre-leasing success at Central Harbourfront with higher rental levels. UBS named HENDERSON LAND and SHK PPT as top picks in Hong Kong’s property sector, expecting stable property prices this year.
HK:0753.HK:AIR CHINA
HK:1055.HK:CHINA SOUTH AIR
DBS raised CHINA SOUTH AIR’s target price to HKD 3.8 and lifted earnings forecasts.
HK:0762.HK:CHINA UNICOM
DBS also increased CHINA UNICOM’s target price to HKD 12.1, projecting cloud business growth.
HK:0753.HK:CHINA EAST AIR
DBS raised CHINA EAST AIR’s target price to HKD 3.1, while AIR CHINA’s was lifted to HKD 5.4 with a Hold rating.
HK:0728.HK:CHINA TELECOM
Citi raised target prices for three major Chinese telecoms, naming CHINA TELECOM as the top pick.
HK:0017.HK:NEW WORLD DEV
NEW WORLD DEV reportedly has a USD 5.05 million coupon payment due today.
Ant International
Ant International’s technology services now serve over 100 million merchants globally, connecting more than 1.7 billion users.
HK:0666.HK:REMEGEN
UBS downgraded REMEGEN to Neutral but raised its target price to HKD 63.8.
LAOPU GOLD
Citi favored LAOPU GOLD for its price advantage, raising its target price to USD 1,084.
HK:2202.HK:CHINA VANKE
S&P Global Ratings reaffirmed CHINA VANKE’s long-term issuer credit rating at B- with a Negative outlook and removed the stock from its CreditWatch List. The company’s annual contract sales are forecasted to drop 40% year-on-year to RMB146 billion, while its operating cash flow is expected to remain stable.
HK:0700.HK:TENCENT
TENCENT repurchased 985,000 shares on June 16, at prices ranging from HKD505 to HKD511, totaling HKD500 million. Since the May 14 buyback approval, the company has repurchased 20.573 million shares, representing approximately 0.22389% of its issued shares.
HK:1929.HK:CHOW TAI FOOK
CHOW TAI FOOK plans to issue HKD7.85 billion worth of convertible bonds maturing in 2030, according to Bloomberg. The bonds will carry an annual coupon rate between 0% and 0.5%, with semi-annual interest payments and an initial conversion premium of 35-45%. UBS is acting as the sole bookrunner.
HK:1088.HK:CHINA SHENHUA
CHINA SHENHUA reported that its May commercial coal production dropped 1.4% year-on-year to 28 million tons, while coal sales decreased 10.7% year-on-year to 32.5 million tons. Total commercial coal production for the first four months of 2025 was 138 million tons, down 1.7% year-on-year.
HK:0700.HK:TENCENT
HK:9988.HK:BABA-W
HK:1810.HK:XIAOMI-W
HK:1211.HK:BYD COMPANY
HK:3690.HK:MEITUAN-W
US:NTES:NetEase
Goldman Sachs highlighted improving investment value in Chinese private-owned enterprises (POEs) and listed its “Chinese Prominent 10”, all rated Buy. The list includes TENCENT, BABA-W, XIAOMI-W, BYD COMPANY, MEITUAN-W, and NetEase.
HK:0388.HK:HKEX
HKEX CEO stated that the H+A listing model will not dilute the investor base, and a white paper on ‘T+1’ settlement is scheduled for release within the year.
HK:HAITIAN FLAV
HAITIAN FLAV’s IPO saw strong demand, with margin subscriptions oversubscribed 695 times. The offer price is expected to be set at the upper limit.
KL:1023.KL:CIMB Group Holdings
CIMB Group Holdings Bhd appointed Datuk Syed Zaid Albar, former head of the Securities Commission Malaysia, as its new group chairman. Syed Zaid will succeed Tan Sri Mohd Nasir Ahmad, who retires on July 19. His appointment as independent, non-executive director takes effect June 18, with the chairmanship beginning July 20.
KL:0215.KL:Solarvest Holdings
Solarvest Holdings Bhd, via a joint venture, secured a 25-year power purchase agreement with the Brunei government to invest in, build, and operate a 30MWac solar photovoltaic plant. Slated for completion by end-2026, it will be Brunei’s largest solar plant, generating 64.47 million kWh of renewable energy annually.
KL:3395.KL:Berjaya Land
Berjaya Land Bhd, through subsidiary Berjaya Greenland Invest A/S, signed an MoU with Sweden-based SIBS Sdn Bhd to deliver climate-resilient modular housing in Greenland. The RM170 million development is set to begin construction in July 2026 and complete within two years.
KL:5132.KL:Deleum
Deleum Bhd, via its indirect unit Deleum Oilfield Solutions (Thailand) Co Ltd, is acquiring oilfield service assets and business from Thailand’s MPC Future Co Ltd for RM60 million. The acquisition includes slickline, hydraulic workover, and well head maintenance services, expanding Deleum’s portfolio in Thailand.
KL:5080.KL:Poh Kong Holdings
Poh Kong Holdings Bhd reported Q3FY2025 net profit of RM47.60 million, nearly unchanged from RM47.65 million a year earlier. Revenue reached a record RM533.93 million, up 2.76% y-o-y, driven by surging gold prices. Higher income tax and operating expenses offset revenue growth.
KL:0055.KL:Sersol
Sersol Bhd announced its executive director Datuk Mohamed Suffian Awang has become its largest shareholder after acquiring a 13.671% stake. Through IceAge Property Sdn Bhd, Mohamed Suffian purchased 100 million shares for RM500,000, or half a sen per share—an 80% discount to the closing price of 2.5 sen on the same day.
SGX:OU8.SI:CENTURION CORP
CENTURION CORP plans to expand its purpose-built workers’ accommodation (PBWA) business in Malaysia, aiming to double its current 28,000 bed capacity with investments of RM300–500 million. Expansion is targeted in Penang, Klang Valley, Johor, and Iskandar Puteri, alongside potential involvement in the Johor-Singapore Special Economic Zone. CENTURION’s PBWA segment contributed SGD194.6 million in FY2024, with Malaysia bringing in SGD19.27 million and Singapore SGD176.1 million. It also operates PBSA accommodations in Australia, UK, US, Hong Kong, and China, and plans to launch a REIT, pending regulatory approvals.
SGX:C6L.SI:SINGAPORE AIRLINES
SINGAPORE AIRLINES reported May 2025 passenger traffic growth of 3.1% y-o-y, slightly outpacing the 2.8% rise in capacity. The group carried 3.4 million passengers (+6.3% y-o-y), with PLF at 86.4%. Cargo load factor rose to 57.2% supported by front-loading activity amid trade uncertainty. The network now covers 128 destinations in 36 countries.
SGX:42F.SI:TRENDLINES GROUP
TRENDLINES GROUP remains fully operational despite Israel-Iran conflict escalation. The medtech and agrifood incubator, based in Israel, reported no impact to staff or portfolio companies.
SGX:F13.SI:FU YU CORP
FU YU CORP announced the resignation of all three independent directors, including Chairman Christopher Huang, leaving CEO David Seow as the sole board member. Tensions arose after shareholder Victor Lim, who holds nearly 30% stake, repeatedly called for EGMs to remove board members, citing performance concerns and ongoing investigations into a subsidiary.
SGX:B9S.SI:COSMOSTEEL HOLDINGS
COSMOSTEEL HOLDINGS secured final approval to sell its 5-storey warehouse property at 90 Second Lok Yang Road for SGD9 million, with transaction completion expected by end-August 2025.
SGX:B03.SI:BBR HOLDINGS
BBR HOLDINGS won SGD220 million worth of new contracts for HDB, MRT, and infrastructure projects, including Yishun residential blocks, Cross Island MRT Line works, and large-scale Eastern Singapore infrastructure projects, scheduled through 2029.
Palm Oil & Biofuel Sector
Palm oil prices soared past 4,000 ringgit, driven by rising soyoil prices and the U.S. Environmental Protection Agency’s proposal to mandate a record 24.02 billion gallons of biofuel blending in 2026 — 8% higher than the 2025 target. CIMB Securities analysts Ivy Ng Lee Fang and Lim Yue Jia see the proposal as positive for edible oil demand and crude palm oil prices. Crude oil prices, boosted by Middle East tensions, are also adding momentum as biofuels become more attractive alternatives.
US:DIA:Dow Jones Industrial Average
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
The Dow rose 317.30 points (+0.75%) to 42,515.09, S&P 500 climbed 0.94% to 6,033.11, and Nasdaq Composite jumped 1.52% to 19,701.21 on Monday, as oil prices cooled amid Iran’s reported ceasefire overture following Israel’s strikes.
All “Magnificent Seven” stocks gained. TESLA rose over 1%, META surged nearly 3% on WhatsApp ads news, PALANTIR gained 3% as a geopolitical beneficiary, while AMD (+9%), ON Semiconductor (+5%), MARVELL (+5%), and NVIDIA (+2%) led semiconductor sector gains.
Multiple S&P 500 stocks hit fresh 52-week highs, including IBM, MICROSOFT, JABIL, RTX, DARDEN RESTAURANTS, PHILIP MORRIS, QUEST DIAGNOSTICS, JOHNSON CONTROLS, QUANTA SERVICES, and PALANTIR TECHNOLOGIES.
US:CPB:Campbell’s
CAMPBELL’S hit a new 52-week low, trading at levels not seen since 2012.
US:UEC:Uranium Energy Corp
US:LEU:Centrus Energy
Uranium stocks rallied after Sprott committed $200 million to physical uranium purchases, lifting URANIUM ENERGY CORP (+7%) and CENTRUS ENERGY (+5%).
US:UCO:crude oil
WTI crude dropped 1.66% to $71.77, and Brent fell 1.35% to $73.23 as ceasefire talks progressed.
US:TSLA:Tesla
US:META:Meta Platforms
US:PLTR:Palantir
US:AMD:Advanced Micro Devices
US:ON:On Semiconductor
US:MRVL:Marvell Technology
US:NVDA:Nvidia
All “Magnificent Seven” stocks gained. TESLA rose over 1%, META surged nearly 3% on WhatsApp ads news, PALANTIR gained 3% as a geopolitical beneficiary, while AMD (+9%), ON Semiconductor (+5%), MARVELL (+5%), and NVIDIA (+2%) led semiconductor sector gains.
US:IBM:IBM
US:MSFT:Microsoft
US:JBL:Jabil
US:RTX:RTX
US:DHI:Darden Restaurants
US:PM:Philip Morris
US:DGX:Quest Diagnostics
US:JCI:Johnson Controls
US:PWR:Quanta Services
US:PLTR:Palantir Technologies
Multiple S&P 500 stocks hit fresh 52-week highs, including IBM, MICROSOFT, JABIL, RTX, DARDEN RESTAURANTS, PHILIP MORRIS, QUEST DIAGNOSTICS, JOHNSON CONTROLS, QUANTA SERVICES, and PALANTIR TECHNOLOGIES.
Thank you
