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On August 19, the three major A-share indices opened slightly lower and then rebounded. The Shenzhen Component Index and the ChiNext Index once rose by more than 1% during the session, then rose and fell, and the gains narrowed.

As of midday closing, the Shanghai Composite Index rose 0.53%, the Shenzhen Component Index rose 0.35%, and the ChiNext Index rose 0.21%.

On the market, cross-border payment concepts soared, with Beijing Beifang, Sifang Jingchuang, Rendong Holdings, Huafeng Superfiber and Qingdao Kingwang hitting their daily limit.

Huawei HiSilicon concepts continued to be strong, Skyworth Digital, Shenzhen Huaqiang, and Haoshanghao hit the daily limit, gold concepts strengthened, Yulong Co., Ltd. and Laisen Tongling hit the daily limit.

The banking sector continued to rise, with Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank continuing to hit record highs during intraday trading.

Transportation equipment, insurance, and Internet sectors led the gains, while AI glasses concepts, copper cable high-speed connections, components, pharmaceuticals, and general machinery sectors led the losses.

The four major state-owned banks hit a new record high

A-share bank stocks continued to strengthen. On August 19, the four major state-owned banks, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank, continued to hit historical highs in early trading. Bank of Communications, Shanghai Pudong Development Bank and China Everbright Bank hit new highs for the year.

According to statistics, Industrial and Commercial Bank of China's A-shares have risen 37% this year, Agricultural Bank of China has risen 40%, Bank of China has risen 29%, and China Construction Bank has risen 30%.

Among the banks, the ones with the largest year-to-date gains are Bank of Nanjing and Bank of Communications, with cumulative increases of 47% and 44% respectively.

On the news front, the Financial Supervision Administration announced the latest regulatory indicators for commercial banks on August 9. The data showed that the net interest margin of commercial banks has stabilized, and the net interest margin of joint-stock commercial banks has slightly rebounded. At the same time, the asset growth rate of large state-owned commercial banks continues to lead the industry, and their concentration has also been further improved.

Regarding the work arrangements for the second half of the year, many banks have held mid-year work meetings. It is found that, on the whole, commercial banks will continue to take comprehensive deepening of reform as the main line of development in the second half of the year, highlight the prevention and resolution of risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions, take structural adjustment and cost reduction as important goals, continuously optimize the total volume and structure of asset-liability business, optimize resource allocation, reduce operating costs, and coordinate the relationship between capital constraints and business growth.

Bull stocks that rose 150% this week fell back

As Apple, Meta and other major manufacturers have been planning AI glasses products, the concept of "AI glasses" has become popular, and the share prices of A-share concept stocks have soared. The popular stock Doctor Eyewear has risen for five consecutive days, with a cumulative increase of nearly 150% last week.

In the new week, the concept speculation shows signs of dying down. In the morning of August 19, the AI ​​glasses concept fell back significantly, Xingxing Technology and Asia Optoelectronics hit the limit, Yitong Technology fell 17%, Green Precision fell more than 12%, and Zijian Electronics, Jiemite, Mingyue Lenses, Shuobei and many other stocks fell more than 6%.

Dr. Eyeglasses fell 10.58% in early trading to 33.81 yuan per share, with a half-day turnover of 1.126 billion yuan.

In terms of news, many domestic and overseas companies are accelerating the launch of AR glasses products. Meta, an overseas giant, is expected to launch new AR glasses in September this year, and Apple is developing lightweight AR glasses. Domestic brand Rokid AR glasses have strong sales, and Huawei, Xiaomi and others have also launched smart glasses.

As the attention to "AI glasses" has soared, a number of listed companies with related concepts have publicly responded to whether they are involved in AI glasses-related businesses.

Among them, Dr. Eyewear, which has been on the board for five consecutive days, issued an unusual announcement stating that the company provides fitting services for smart glasses lenses, and has not yet been involved in the research and development of smart glasses. The operating income scale and proportion of the company's smart glasses lens fitting services are extremely small, and will not have a significant impact on the company's business activities in the short term.

CEO arrested, stock price fluctuates

On August 19, Hong Kong-listed 360 (02360.HK) fell more than 13% to HK$1.35 at the beginning of trading, hitting a new low since August 2022. But then it rose during the trading session and turned positive. As of press time, the stock fell 0.64% to HK$1.55 per share.

On the evening of August 18, Hong Kong snack food retailer Uppack 360 announced that it received a notice from its executive director and CEO, Xu Zhiqun, on August 16 that he was arrested by the Independent Commission Against Corruption on August 15 in connection with an investigation into an alleged violation or suspected violation of the Prevention of Bribery Ordinance (Chapter 201 of the Laws of Hong Kong). The stock was suspended last Friday and resumed trading today.

The company pointed out that Xu Zhiqun has not been charged yet. Based on the information currently available to the board of directors, it believes that the incident has nothing to do with the company and the arrest has not had a significant adverse impact on the group. Business and operations remain normal. In addition, the company is not aware of any other undisclosed inside information.

Public information shows that Best 360 was founded in 2013 and has opened more than 150 branches in prime shopping areas in Hong Kong, Macau and the Mainland. The store has multiple product areas, including chocolate and candy, nuts and dried fruits, beverages and alcohol, grains, oils and groceries, and some stores have added frozen and refrigerated foods.

In terms of performance, in 2023, Youpin 360 achieved revenue of HK$2.307 billion, a year-on-year increase of approximately 16.26%; net profit was HK$201 million, a year-on-year increase of 83.05%.

In addition, Hong Kong stocks performed strongly today. In the morning of August 19, the Hang Seng Technology Index rose by more than 3% during the session. Among the constituent stocks, JD Health rose by more than 7%, Li Auto rose by more than 6%, JD Group rose by more than 5%, and Bilibili followed suit.

Editor: Chen Lixiang

Proofreading: Zhu Tianting