Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has taken a significant step in establishing a commodities trading ecosystem by approving eight recognized warehouses for the London Metal Exchange (LME) in Hong Kong, with over 8,000 tons of LME-approved metals now stored [1] Group 1: Market Development - The establishment of LME delivery warehouses in Hong Kong is expected to reduce delivery costs for mainland metal users and attract more companies to participate in Hong Kong's commodities industry chain [1] - Hong Kong's role as an international financial center positions it to connect China, the world's largest industrial metal consumer, with the LME, the most active metal trading market globally [1] Group 2: Future Opportunities - The HKEX and LME plan to maintain close communication with the industry to explore unlimited opportunities in developing the commodities ecosystem in Hong Kong [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) is initiating discussions to shorten the settlement cycle for the stock market to T+1, aiming to enhance market efficiency and align with international standards [1][2] Group 1: HKEX's Proposal - HKEX released a discussion paper on July 16 regarding the shortening of the settlement cycle to T+1, seeking consensus with industry participants [1] - The transition to T+1 is expected to improve market efficiency and reduce systemic risk, while also aligning Hong Kong's market with other international markets [2] Group 2: Role of Regulatory Bodies - The Hong Kong Monetary Authority (HKMA) emphasized the crucial role of banks in facilitating the transition to T+1 and has urged recognized institutions to prepare for the change [1] - Recognized institutions have indicated their readiness based on experiences from markets that have already implemented T+1 or T+0 settlement cycles [1] Group 3: Preparations and Considerations - Recognized institutions are advised to consider the impact of accelerated settlement on their operations, liquidity, and service to clients, particularly international investors [1] - Sufficient resources should be allocated to enhance operations, systems, and infrastructure in preparation for the shorter settlement cycle [1] - The HKMA will continue to monitor market developments and provide further guidance to support the transition to T+1 when appropriate [1]

Market Overview - On Monday, the three major US stock indices showed mixed results, while the Hang Seng Index ADR declined, closing at 25,129.61 points, down by 47.24 points or 0.19% compared to the Hong Kong closing [1]. Company Performance - Most large-cap blue-chip stocks experienced declines, with HSBC Holdings closing at HKD 99.979, up by 1.55% compared to the Hong Kong closing; Tencent Holdings closed at HKD 586.613, down by 0.07% [3]. - Notable stock movements include Alibaba W, which closed at HKD 118.600, up by 0.500 or 0.42%; and Xiaomi Group-W, which closed at HKD 53.050, up by 0.200 or 0.38% [4]. - Other significant performers include AIA Group, which closed at HKD 74.600, down by 0.350 or 0.47%; and JD Group-SW, which closed at HKD 124.000, up by 3.200 or 2.65% [4].

Market Overview - The Hang Seng Index (HSI) closed at 25,129.61, down by 47.24 points or 0.19% as of August 18, 16:00 Eastern Time [1] - The index experienced a trading range with a high of 25,246.78 and a low of 25,127.88, indicating a volatility of 0.47% [1] Major Blue-Chip Stocks Performance - Most large-cap stocks declined, with HSBC Holdings closing at HKD 98.450, down by HKD 1.850 or 1.84% [2] - Tencent Holdings closed at HKD 587.000, down by HKD 5.000 or 0.84%, while its ADR price was HKD 586.613, reflecting a slight decrease of 0.387 [2] - Alibaba Group (ADR) saw a slight increase, closing at HKD 118.600, up by HKD 0.500 or 0.42%, with its ADR price at HKD 118.660, up by 0.060 [2] Notable Stock Movements - Meituan-W experienced a minor decline, closing at HKD 121.500, down by HKD 0.200 or 0.16%, while its ADR price was HKD 122.218, up by 0.718 [2] - Pop Mart International's stock surged, closing at HKD 284.800, up by HKD 13.400 or 4.94%, with its ADR price at HKD 284.470, down by 0.330 [2] - JD Group saw an increase, closing at HKD 124.000, up by HKD 3.200 or 2.65%, with its ADR price at HKD 124.211, up by 0.211 [2]

Group 1 - The Hong Kong government is advised to extend stock trading hours to enhance market liquidity and attract international capital, with a phased approach suggested to align with European market hours [1][2] - A proposal to establish a credit risk-sharing fund in collaboration with Chinese banks and insurance companies aims to provide credit guarantees for Chinese enterprises operating in Hong Kong, particularly in sectors like infrastructure and renewable energy [1][3] - The suggestion to create an "Investment Immigration Channel" for high-net-worth individuals from mainland China to facilitate cross-border investments through Hong Kong is highlighted [1][4] Group 2 - The expansion of the low-altitude economy regulatory sandbox is recommended to include advanced applications such as passenger drones and AI traffic management systems, which could enhance Hong Kong's logistics and transportation hub status [1][6] - The development of strategic partnerships and the introduction of attractive cooperation proposals for leading enterprises are emphasized to accelerate the growth of the Lok Ma Chau Loop and attract long-term investments [1][5] - The importance of integrating AI technology into local markets, particularly in sectors like fintech and healthcare, is stressed to enhance the capabilities of civil servants and drive innovation [1][5]

Group 1 - The conference titled "Cross-Border Leap: Setting Sail for the Future" focused on the strategies for Chinese companies to list abroad amid global changes, with over 200 participants including economists, exchange representatives, and legal experts [1] - Beijing DeHeng Law Firm emphasizes its comprehensive legal services for companies in hard technology, new consumption, and green energy sectors, leveraging its strategic positioning and collaboration with overseas offices [1] - Tsinghua University's National Institute of Financial Research highlights the need for an inclusive environment to foster innovation, advocating for corporate venture capital and a robust legal framework to support high-quality economic development [1] Group 2 - DeHeng's Deputy Director stresses the importance of aligning listing paths with company positioning, navigating international regulatory changes, and ensuring compliance through structural optimization and risk assessment [2] - The firm’s Executive Director concludes that the rule of law is fundamental to market vitality, and reform and opening-up are essential for Chinese enterprises to expand internationally [2] - The Hong Kong Stock Exchange has introduced diverse listing options for companies with different structures, including a dedicated service for technology innovation firms to facilitate their listing process [1]

Group 1 - The Hong Kong government is set to release its fourth policy report in September, with Deloitte suggesting several measures to enhance the stock market, including extending trading hours and reducing transaction taxes [1] - Deloitte recommends a phased extension of the Hong Kong stock market trading hours to 18:00, aligning with major European markets, and potentially moving towards 24-hour trading to attract international investors from different time zones [1] - The extension of trading hours is seen as a way to increase market liquidity, enhance competition, and improve the price discovery mechanism for listed companies [1] Group 2 - There has been a significant inflow of southbound funds into the Hong Kong stock market this year, with daily trading volume increasing by approximately 1.3 times, accounting for 23.1% of total trading volume, and net purchases reaching HKD 731.2 billion, which is 91% of last year's total [2] - Deloitte suggests that the Hong Kong government should consider expanding the Southbound Stock Connect to enhance liquidity, proposing a reduction in the asset threshold for individual investors from HKD 500,000 [2] - To attract more local and overseas funds, especially from the Middle East and ASEAN regions, Deloitte recommends expanding investment products and establishing capital market service stations in Jakarta and Bangkok to engage with regional investors [2]

金融界8月18日消息，上证指数高开高走，中证香港300现代服务指数 (H300现代服务，H30107)报 1780.59点。 数据统计显示，中证香港300现代服务指数近一个月上涨4.64%，近三个月上涨8.77%，年至今上涨 26.62%。 据了解，中证香港300主题指数系列从中证香港300指数样本中根据中证行业分类选取符合相应主题的证 券作为指数样本，反映了在香港交易所上市各主题证券的整体表现。该指数以2004年12月31日为基日， 以1000.0点为基点。 从指数持仓来看，中证香港300现代服务指数十大权重分别为：腾讯控股（19.21%）、阿里巴巴-W （11.37%）、汇丰控股（8.87%）、建设银行（4.73%）、友邦保险（4.02%）、美团-W（3.75%）、香 港交易所（2.81%）、中国移动（2.75%）、工商银行（2.61%）、中国平安（2.16%）。 从中证香港300现代服务指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中证香港300现代服务指数持仓样本的行业来看，金融占比35.65%、通信服务占比29.25%、可选消费 占比21.24%、房地产占比4.82%、公用事业占比3 ...

Group 1 - The Hong Kong IPO market has significantly rebounded in the first half of the year, raising a total of HKD 107.1 billion, a sevenfold increase compared to the same period last year, making it the highest globally and the second highest in the past decade for the same period [2] - The Greater Bay Area (GBA) enterprises are a crucial driving force behind this achievement, showcasing the region's strong economic vitality and diverse industrial structure [2][3] - A total of 44 companies went public in Hong Kong in the first half of the year, with 6 from the GBA, indicating a growing trend of A-share listed companies seeking to list in Hong Kong [3] Group 2 - The Hong Kong Stock Exchange (HKEX) has introduced the "Tech Company Fast Track" to provide pre-listing guidance for specialized technology and biotech companies, enhancing the market's innovation capacity [4] - PwC holds an optimistic view on the Hong Kong IPO market, expecting the fundraising trend to continue in the second half of the year, with over 200 companies already applying to list [4][6] - GBA enterprises can leverage the Hong Kong market to expand their influence, benefiting from the abundant capital available for listing and fundraising [5] Group 3 - The GBA is expected to remain a significant force in the Hong Kong capital market through 2025 and beyond, with a focus on emerging sectors such as high technology, artificial intelligence, and healthcare [7] - Continuous policy support and market opportunities will further enhance the GBA's role in driving the Hong Kong capital market's unique presence on the global stage [7]

Core Insights - The article highlights the top short-selling stocks in the market, focusing on their short-selling ratios, amounts, and deviation values [1][2][3] Short-Selling Ratios - The top three stocks by short-selling ratio are: - China Resources Beer-R (80291) at 100.00% - Bank of China Hong Kong-R (82388) at 88.69% - Kuaishou-WR (81024) at 80.08% [1][2] Short-Selling Amounts - The leading stocks by short-selling amount are: - Alibaba-SW (09988) with a short-selling amount of 2.949 billion - Tencent Holdings (00700) with 2.711 billion - Meituan-W (03690) with 2.333 billion [1][3] Deviation Values - The stocks with the highest deviation values are: - China Resources Beer-R (80291) at 51.62% - Kuaishou-WR (81024) at 43.86% - Bank of China Hong Kong-R (82388) at 39.84% [1][2][3]