Group 1 - The core viewpoint indicates a recovery in the second-hand residential mortgage market, with a slight monthly increase in registrations and an expectation for further growth in June [1][2] - In May 2025, there were 1,356 registrations for second-hand residential mortgages, reflecting a monthly increase of 61 or 4.7%, driven by renewed buyer interest post-New Year [1] - The total number of registered mortgage contracts for buildings (excluding pre-sale) was 4,920 in May, marking a rebound after two months of decline, reaching a three-month high [1] Group 2 - The one-hand mortgage market saw a significant monthly increase of 1,382 registrations or 53.0%, with a total of 3,992 registrations in May, largely due to new developments [2] - The number of registered mortgage contracts for new residential properties was 1,972, while the second-hand market accounted for 1,356, indicating a strong performance in both segments [2] - The number of registered mortgages for subsidized housing and other plans surged to 751, a monthly increase of 315 or 72.2%, attributed to new housing projects coming online [2]

Core Viewpoint - The "Wealth Management Expo 2025" held in Hong Kong focused on driving new economic engines and leading new trends amidst global economic uncertainties and increasing protectionism [1][3]. Group 1: Economic Environment - Hong Kong maintains its status as a free port with a robust financial system, allowing for free capital movement, which reassures international investors [3]. - The family office sector in Hong Kong is expected to grow from 2,700 to 3,000 firms, indicating a thriving wealth management landscape [3]. - The asset management industry in Hong Kong is projected to manage over $4 trillion, with expectations to become the world's leading cross-border asset management center within two to three years [3]. Group 2: Investment Products and Innovations - The government plans to collaborate with financial regulators and the industry to promote innovation in investment products, such as Exchange-Traded Products (ETPs), which currently number over 210 on the Hong Kong Stock Exchange [4]. - ETPs cover a diverse range of assets, including securities, derivatives, and digital assets, accounting for over 15% of total market turnover [4]. Group 3: Offshore RMB Business - Hong Kong handles approximately 80% of global offshore RMB transactions, making it a key player in the offshore RMB market and dim sum bond market [6]. - Efforts are underway to enhance Hong Kong's position as a global offshore RMB business hub through improved financial infrastructure and increased RMB liquidity [6]. - Currently, 24 stocks on the Hong Kong Stock Exchange can be traded using offshore RMB, with plans to expand RMB trading options [6].

Core Viewpoint - The launch of the Cross-Border Payment Link on June 22, 2025, marks a significant milestone in the financial connectivity between Mainland China and Hong Kong, with six banks from each region participating as initial institutions [2][4]. Group 1: Overview of Cross-Border Payment Link - The Cross-Border Payment Link connects the Mainland online payment interbank clearing system with Hong Kong's Fast Payment System, providing real-time cross-border payment services for residents of both regions [2][6]. - This initiative is part of the central government's support for Hong Kong's development and aims to enhance financial cooperation between the two regions, improving payment efficiency and service levels [6][8]. Group 2: Participating Banks - The initial participating banks from Mainland China include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank [10]. - The Hong Kong banks involved are Bank of China (Hong Kong), East Asia Bank, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia) [10]. Group 3: Services Offered - The Cross-Border Payment Link supports convenient remittance services for residents, including salary payments, tuition fees, and medical expenses, without requiring business background documentation for small amounts [7][8]. - It allows for two-way remittance services, facilitating transactions for individuals holding identification from either region [7][8]. Group 4: Market Response and Future Prospects - Following the announcement, banks like Bank of China (Hong Kong) and East Asia Bank expressed strong demand for cross-border services, with East Asia Bank reporting a 112% year-on-year increase in cross-border payment transactions in Q1 2025 [11][12]. - HSBC and ICBC (Asia) plan to offer fee-free services and real-time transactions, enhancing customer experience and promoting cross-border economic activities [12][15].

Group 1 - The People's Bank of China has announced the first batch of mainland institutions participating in the cross-border payment system, which includes major banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank [1] - Hong Kong institutions participating in the cross-border payment system include Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia) [1] - The participation range will be gradually expanded in the future, indicating a potential increase in cross-border payment capabilities [1]

Core Viewpoint - The "Hong Kong Dollar-Renminbi Dual Counter Model" has been successfully implemented since June 19, 2023, with a total transaction volume of 49.051 billion RMB for 24 selected stocks, indicating a growing interest in RMB-denominated trading in the Hong Kong market [1][2][4]. Group 1: Market Performance - The top five stocks in the dual counter model by transaction volume are China Mobile-R, Ping An-R, Tencent Holdings-R, Hong Kong Exchanges-R, and Alibaba-WR, with total transaction volumes of 6.117 billion RMB, 5.775 billion RMB, 5.687 billion RMB, 5.356 billion RMB, and 4.872 billion RMB respectively over the past two years [1][3]. - The transaction volume for Tencent Holdings-R has seen significant growth, with multiple trading days exceeding 50 million RMB this year, and Hong Kong Exchanges-R achieving a daily transaction volume of over 200 million RMB on certain days [5][6]. Group 2: Regulatory Developments - The Hong Kong Securities and Futures Commission is actively promoting the inclusion of RMB counters in the Stock Connect program, which is expected to launch by the end of the year, enhancing the accessibility of RMB assets for investors [2][6]. - The dual counter model is anticipated to facilitate the use of RMB in Hong Kong stock trading, potentially expanding to more stocks and products in the future, thereby supporting the internationalization of the RMB [4]. Group 3: Investor Behavior - The dual counter model allows investors holding offshore RMB to directly invest in Hong Kong stocks, helping to mitigate exchange rate risk and increasing market demand for RMB-denominated assets [3][5]. - Despite the growth in transaction volumes, the average turnover rate for RMB-denominated stocks remains low, primarily due to the large market capitalization of the stocks involved and the preference of institutional investors for holding rather than frequent trading [6].

金融界6月13日消息，上证指数低开低走，中证香港300本地股指数 (HK300本地，H11167)报1476.85 点。 数据统计显示，中证香港300本地股指数近一个月上涨5.26%，近三个月上涨8.42%，年至今上涨 19.72%。 从中证香港300本地股指数持仓样本的行业来看，金融占比56.65%、房地产占比17.34%、公用事业占比 12.25%、通信服务占比6.31%、主要消费占比3.11%、工业占比1.57%、可选消费占比1.51%、医药卫生 占比0.65%、信息技术占比0.62%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当中证香港300指数调整样本 时，指数样本将进行调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等 情形的处理，参照计算与维护细则处理。 本文源自：金融界 作者：行情君 据了解，中证香港300内地股指数和中证香港300本地股指数从中证香港300指数样本 ...

Group 1 - As of June 3, Bank of China Hong Kong (02388.HK) closed at HKD 33.600, up 1.82% from the previous trading day, with an intraday high of HKD 34.000, marking a nearly one-year high [1] - On that day, the main capital inflow was HKD 2,056.7885 million, while outflow was HKD 1,847.2540 million, resulting in a net inflow of HKD 209.534 million [1] Group 2 - Bank of China Hong Kong is a licensed bank registered in Hong Kong, formed in 2001 through the restructuring of the Bank of China Group's institutions in Hong Kong, merging ten of the twelve banks [2] - The company has divested its stakes in Nanyang Commercial Bank and Chiyu Banking Corporation in 2016 and 2017, respectively, and has expanded its regional presence in Southeast Asia, with branches in several countries [2] - Bank of China Hong Kong is one of the three note-issuing banks in Hong Kong and the only RMB clearing bank, holding a leading position in major business markets [2] - The company provides comprehensive financial and investment services to individuals, various enterprises, and institutions through a vast branch network and efficient electronic channels [2] - The holding company, Bank of China Hong Kong (Holdings) Limited, was registered in Hong Kong in September 2001 and listed on the Hong Kong Stock Exchange in July 2002, making it one of the largest listed companies and banking groups in Hong Kong [2]

Group 1 - As of June 3, a total of 105 stocks reached their 52-week highs, with Huayin International Holdings (00989), Dingyifeng Holdings (00612), and Youquhui Holdings (02177) leading the high rate at 57.26%, 37.93%, and 23.02% respectively [1] - The closing prices and highest prices for the top three stocks are as follows: Huayin International Holdings at 1.370 and 1.950, Dingyifeng Holdings at 0.770 and 0.800, and Youquhui Holdings at 3.550 and 3.580 [1] - Other notable stocks that reached their 52-week highs include China Antibody-B (03681) with a high rate of 21.62% and Fengcheng Holdings (02295) at 19.52% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Des Holdings (08437) showing the largest decline at -38.79%, followed by Dimi Life Holdings (01667) at -20.50% [3] - The closing prices and lowest prices for the top three stocks that reached their lows are: Des Holdings at 0.177 and 0.071, Dimi Life Holdings at 0.140 and 0.128, and Lujizhi Technology (01745) at 0.197 and 0.194 [3] - Other stocks with significant declines include GBA Group (00261) at -11.48% and Baide International (02668) at -10.88% [3]

Group 1 - The seminar titled "Tide Rising in Hong Kong, Synergy for Win-Win" focused on the integration of Shenzhen and Hong Kong capital markets and the process of listing in Hong Kong, highlighting the role of intermediaries in providing comprehensive services throughout the listing cycle [1] - Bank of China Hong Kong (BOCHK) is one of the largest commercial banks in Hong Kong, with a significant presence in Southeast Asia, and plays a crucial role in supporting Chinese enterprises in their overseas expansion [2] - BOCHK has collaborated with BOCI, its international investment banking arm, to provide a full range of investment banking services, including IPOs, mergers and acquisitions, and bond issuance, assisting around 200 companies in listing in Hong Kong over the past 40 years [2] Group 2 - Experts at the seminar emphasized the importance of timing for IPOs, suggesting that companies should not wait for the best market conditions to initiate the listing process, as market conditions can change rapidly [3] - BOCHK has successfully supported hundreds of companies in their Hong Kong listings by offering comprehensive financial services, including public offerings and fund management [3] - The selection of an investment bank is critical for companies, as it represents a choice of a "survival plan" in the Hong Kong capital market, especially in a volatile market environment [3] Group 3 - Shenzhen has many high-potential companies, and Hong Kong is positioned to play a vital role as a "super connector" and "super value creator" in helping mainland enterprises expand into overseas markets [4] - BOCHK aims to support the development of the Guangdong-Hong Kong-Macao Greater Bay Area and facilitate high-level opening-up through financial assistance [4] - The integration of policy interpretation, financial services, and resource connection is shaping a new standard for the collaboration between mainland and Hong Kong capital markets, providing strong momentum for the internationalization of enterprises [4]

Summary of Key Points Core Viewpoint - As of May 16, a total of 54 stocks reached their 52-week highs, indicating a positive trend in the market, with notable performances from Glory Holdings, Jian De International Holdings, and Xunlong [1]. Group 1: 52-Week Highs - Glory Holdings (09998) achieved a closing price of 0.209 with a peak of 0.290, marking a high rate of 72.62% [1]. - Jian De International Holdings (00865) closed at 0.054, reaching a high of 0.073, reflecting a 25.86% increase [1]. - Xunlong (01930) closed at 0.370, with a peak of 0.500, resulting in a 25.00% increase [1]. - Other notable stocks include Sound Technology (02495) with a 20.67% increase and CLSA PREMIUM (06877) with a 19.15% increase [1]. Group 2: 52-Week Lows - INTL GENIUS (00033) recorded a closing price of 1.290, with a low of 0.930, reflecting a decrease of 22.50% [2]. - 威发国际 (00765) closed at 0.300, reaching a low of 0.265, indicating a decline of 22.06% [2]. - 时腾科技 (08113) had a closing price of 0.042, with a low of 0.030, showing a decrease of 21.05% [2]. - Other significant declines include 顺豪控股 (00253) with a 12.50% decrease and 奥传思维控股 (08091) with a 10.00% decrease [2].