news

Spotlight

1. On August 7, Shenzhen Anju Group announced that it plans to start the work of purchasing commercial housing for use as affordable housing. It is now soliciting commercial housing for use as affordable housing projects in Shenzhen. The scope of solicitation includes: residential, apartment, dormitory, etc. of commercial housing nature within the scope of Shenzhen (excluding the Shenzhen-Shantou Special Cooperation Zone). Priority will be given to unsold buildings or units that can be closed and managed.

2. According to data from the People's Bank of China, China's foreign exchange reserves in July were US$3256.37 billion, compared with US$3222.36 billion in the previous month. At the end of July, gold reserves were reported at 72.8 million ounces (about 2,264.33 tons), the same as last month, and the country has stopped increasing its gold holdings for the third consecutive month.

3. According to the information pushed by HSBC China's official WeChat account, HSBC Global Research has updated its forecast for the Fed's policy interest rate path, predicting three rate cuts this year totaling 75 basis points, the same as expected at the beginning of the year. Some foreign bank analysts predicted and suggested that holding cash in the second half of the year would be more likely to generate "downside risks" than holding fixed-income assets.

4. China Passenger Car Association: From July 1 to 31, the passenger car market retailed 1.729 million vehicles, down 2% year-on-year and 2% from the same period last month. The cumulative retail sales so far this year reached 11.568 million vehicles, up 2% year-on-year. From July 1 to 31, the passenger car market sold 879,000 new energy vehicles, up 37% year-on-year and 3% from the same period last month. The cumulative retail sales so far this year reached 4.991 million vehicles, up 34% year-on-year.

Global Index

As of the close, the Dow Jones Industrial Average fell 0.60% to 38,763.45 points; the S&P 500 fell 0.77% to 5,199.50 points; and the Nasdaq Composite fell 1.05% to 16,195.81 points.

Large technology stocks were mixed, with Apple up 1.25%, Microsoft down 0.30%, Nvidia down 5.12%, Google C up 0.13%, Amazon up 0.52%, Meta down 1.05%, and Tesla down 4.43%.

In terms of Chinese stocks listed in the US, the Nasdaq China Golden Dragon Index fell 1.46% to 5,454.92 points.

Most of the popular Chinese stocks fell, with New Oriental down 7.31%, TAL Education down 6.52%, Xpeng Motors down 5.40%, NIO down 2.65%, Baidu down 1.20%, Tencent Music down 0.60%, JD.com down 0.47%, Alibaba down 0.09%, Pinduoduo up 0.40%, and Li Auto up 1.53%.

In terms of Hong Kong stocks, as of the close of Wednesday, the Hang Seng Index rose 1.38% to close at 16,877.86 points; the Technology Index rose 1.19% to close at 3,382.42 points; and the CSI 300 Index rose 1.38% to close at 5,933.17 points.

Judging from the performance of individual stocks, education, photovoltaics, coal and oil stocks performed top.

Company News

BeiGene (06160.HK): Total operating revenue in the first half of the year was RMB 11.996 billion, an increase of 65.4% year-on-year; product revenue was RMB 11.908 billion, an increase of 77.8% year-on-year; net loss was RMB 2.877 billion, a significant narrowing year-on-year.

Uni-President China (00220.HK): Revenue in the first half of the year was RMB 15.4486 billion, a year-on-year increase of 6%; net profit was RMB 965.7 million, a year-on-year increase of 10.2%.

Xuhui Holdings Group (00884.HK): Cumulative contract sales in the first seven months were approximately RMB 22.18 billion.

Centaline Property (09982.HK): Contract sales of managed projects in the first seven months were 8.12 billion yuan, a year-on-year decrease of 46.3%.

Central China Real Estate (00832.HK): Cumulative contract sales in the first seven months were 5.12 billion yuan, a year-on-year decrease of 50.9%.

Hopson Development Group (00754.HK): The total contract sales amount in the first seven months was 10.338 billion yuan, a year-on-year decrease of 39.65%.

Shimao Group (00813.HK): A subsidiary plans to sell all issued shares of Xiamen Shimao New Leading Real Estate for RMB 596 million.

APOLLO Mobility (00860.HK): Plans to sell approximately 12.87% stake in Divergent Technologies for US$101.5 million.