📈 Markets Buzz: HIBOR Peaks, China Beers Shine, Tech & Pharma in Focus

HK:HIBOR.HK:Hong Kong Interbank Offered Rate
Hong Kong’s 1-Month HIBOR surged to 2.85774%, rising for six consecutive days to hit a one-month high. Overnight HIBOR was last posted at 2.78762%.

HK:09868.HK:XPENG-W | US:XPEV:XPeng
Citi slightly raised its target price on XPENG-W to HKD114.8 after the EV maker reported a 1.8 ppt QoQ margin lift and a narrowed net loss. Deliveries in 3Q are expected at 113,000–118,000 units.

SH:600519.SH:Kweichow Moutai | HK:09988.HK:Alibaba | US:BABA:Alibaba
Kweichow Moutai partnered with Alibaba’s Taobao Instant Commerce to expand liquor sales across 6,500 stores in China.

HK:00291.HK:China Resources Beer

• UOB Kay Hian trimmed its target to HKD33.8 but maintained a Buy rating after strong 1H results.

• Huatai Securities raised its TP to HKD38.59, citing a 23% YoY net profit jump to RMB5.79B.

• Morgan Stanley lifted its TP to HKD35, highlighting premiumization gains.

• Nomura set its TP at HKD44.6, calling CR Beer the strongest among peers.

HK:9992.HK:Pop Mart
Chairman Wang Ning confirmed the launch of a mini LABUBU figure this week, downplaying concerns over reliance on a single IP.

HK:1810.HK:Xiaomi
Goldman Sachs cut Xiaomi’s TP to HKD65 as 2Q results came largely in line.

HK:2269.HK:Wuxi XDC

• CICC raised its TP to HKD75 on stronger-than-expected interim results.

• Citi lifted TP to HKD70 as revenue guidance increased.

• Huatai raised TP further to HKD82.24, reiterating Buy.

HK:0354.HK:Chinasoft International
CLSA downgraded the stock to Outperform, noting its virtual machine business may take time to contribute meaningfully.

HK:1177.HK:Sino Biopharm
BOCOM International raised its TP to HKD9.1, keeping a Buy rating.

HK:0780.HK:Tongcheng Travel
CCBI raised its TP to HKD27.2 after 2Q results slightly beat expectations.

HK:1833.HK:Ping An Good Doctor
Shares fell 6% despite reporting an 83.6% YoY surge in adjusted interim net profit.

HK:2269.HK:Wuxi Biologics
Shares gained 3% as interim net profit jumped 56%, with management raising full-year guidance.

HK:3692.HK:Hansoh Pharma
BOCOM International raised TP to HKD48, keeping a Buy.

HK:0116.HK:Chow Sang Sang
Shares surged nearly 18% after guiding up to 83.3% growth in interim profit from continuing operations.

HK:1024.HK:Kuaishou
Shares fell 5% ahead of its results announcement tomorrow.

HK:2382.HK:Sunny Optical
Shares jumped more than 6% after reporting a 52.6% rise in interim profit.

HK:2269.HK:Wuxi XDC
CCBI lifted its target price on Wuxi XDC to HKD72, noting interim results were in line.

HK:3115.HK:Hang Seng Index (HSI)
The Hang Seng Index opened 154 points lower as Xiaomi fell post-results, though XPeng gained against the market trend.

HK:1797.HK:East Buy
Shares rebounded about 15% after the company addressed circulating online rumors.

SH:600660.SH:Fuyao Glass
Opened 3% higher after reporting a 37% increase in 1H net profit, coupled with an interim dividend.

HK:3692.HK:Hansoh Pharma
Shares dropped ~5% after raising HKD3.9B via share placement at a 6.5% discount.

HK:2057.HK:ZTO Express-W
Opened 2.6% lower as 2Q non-GAAP net profit sank ~27%. Full-year guidance was also reduced.
Later, interim net profit slipped 2.6% to RMB3.932B with DPS declared at US30 cents.

HK:09868.HK:XPeng-W | US:XPEV:XPeng
Shares rose 3.5% post-results after 2Q adjusted net loss narrowed to RMB385M.

HK:1810.HK:Xiaomi-W
Stock fell over 2% despite posting a 2Q profit beat.

HK:3690.HK:Meituan-W
Its food delivery arm Keeta expanded into Doha, Qatar, with plans to enter Brazil in coming months.

CN:LPR.CN:Loan Prime Rate (China)
China kept its 1-year and 5-year Loan Prime Rates unchanged at 3% and 3.5%, respectively.

CN:PV.CN:China PV Sector
Authorities are discussing details of new “anti-involution” measures for the photovoltaic sector today and tomorrow.

HK:0005.HK:HSBC Holdings
Repurchased ~3.78M shares yesterday, totaling HKD375M.

US:DGT:Dow Jones Industrial Average | US:Trump:Donald Trump | US:Fed:Federal Reserve
Donald Trump criticized Jerome Powell, saying Fed policy is hurting the real estate industry, and urged the central bank to cut rates.

Thank you