Market Performance - Hang Seng Index (HSI) fell by 278 points or 1.1%, closing at 25,388[1] - Shanghai Composite Index (SSE) decreased by 12 points or 0.3%, ending at 3,593[2] - S&P 500 rose by 25 points or 0.4%, reaching a new closing high of 6,388[2] Trading Volume - Total trading volume for Hong Kong stocks was 281.77 billion HKD[1] - Shanghai Stock Exchange's trading volume was 821.6 billion CNY, while Shenzhen Stock Exchange's was 965.7 billion CNY[2] Economic Indicators - People's Bank of China conducted a 789.3 billion CNY reverse repo operation at a rate of 1.4%[2] - Industrial profits for large-scale industrial enterprises in China fell by 1.8% year-on-year to 3.44 trillion CNY in the first half of the year[4] Corporate Earnings - China Duty Free Group reported a revenue of 28.151 billion CNY, down 9.96% year-on-year[4] - Lao Poo Gold expects net profit for the six months ending June to be between 2.23 billion to 2.28 billion CNY, a growth of 279%-288%[5]

Market Performance - The Hang Seng Index rose by 129 points or 0.5%, closing at 25,667 points, marking a five-day consecutive increase[1] - The Shanghai Composite Index increased by 23 points or 0.7%, closing at 3,605 points, reaching a nine-month high[2] - The S&P 500 index gained 4 points, closing at 6,363 points, while the Dow Jones Industrial Average fell by 316 points or 0.7%[2] Economic Indicators - The People's Bank of China conducted a 331 billion yuan reverse repurchase operation at a steady rate of 1.4%, resulting in a net withdrawal of 119.5 billion yuan for the day[2] - The RMB/USD midpoint rose by 29 pips to 7.1385, the highest since November of the previous year[2] Automotive Industry - In June 2025, sales of Chinese brand passenger cars reached 1.707 million units, a month-on-month increase of 5.3% and a year-on-year increase of 19.3%, capturing 67.3% of total passenger car sales[3] Corporate Earnings - Kintor Pharmaceutical (00148.HK) expects a net profit increase of over 70% for the six months ending June 2025, exceeding approximately 2.56 billion yuan[4] - Lingbao Gold (03330.HK) anticipates revenue between 7.492 billion to 7.92 billion yuan, representing a year-on-year increase of approximately 75% to 85%[4]

Market Performance - The Hang Seng Index (HSI) rose by 408 points or 1.6%, closing at 25,538 points, marking a three-year high and a four-day consecutive increase[1] - The Hang Seng Tech Index increased by 138 points or 2.5%, closing at 5,745 points[1] - The total trading volume in Hong Kong was 333.067 billion HKD[1] Economic Indicators - The People's Bank of China conducted a 150.5 billion CNY reverse repurchase operation at a steady rate of 1.4%[1] - The CNY/USD midpoint rose by 46 pips to 7.1414, the highest level since November 6 of the previous year[1] A-Share Market - The Shanghai Composite Index (SSE) gained less than 1 point or 0.01%, closing at 3,582 points with a trading volume of 857.05 billion CNY[1] - The Shenzhen Component Index fell by 40 points or 0.4%, closing at 11,059 points, with a trading volume of 1.01 trillion CNY[1] - The ChiNext Index decreased by less than 1 point or 0.01%, closing at 2,310 points, with a trading volume of 448.7 billion CNY[1] Trade Agreements - The EU and the US are reportedly close to an agreement to impose a 15% tariff on most products, which led to a rise in US stock markets[2] - The Dow Jones Industrial Average increased by 507 points or 1.1%, reaching 45,016 points, near its historical high[2] - The S&P 500 index rose by 49 points or 0.8%, closing at 6,358 points, marking the 12th record high this year[2] Corporate Earnings - WuXi Biologics (02269.HK) expects a 16% year-on-year increase in revenue for the first half of the year, with a gross margin improvement of approximately 3.6%[3] - Profit attributable to equity shareholders is projected to grow by about 54% year-on-year, with adjusted net profit expected to increase by around 11%[3]

Report Overview - The report provides a comprehensive review of the financial markets on July 22, 2025, including stock indices, central bank operations, economic data, and corporate news [1][2][4] Market Indices Hong Kong Stock Market - The Hang Seng Index opened 165 points higher and reached a high of 25,010 points, a three - year high since February 2022, closing at 24,994 points, up 168 points or 0.7% with a turnover of HK$263.012 billion [1] - The Hang Seng China Enterprises Index rose 53 points or 0.6% to close at 9,040 points [1] - The Hang Seng Tech Index rose 46 points or 0.8% to close at 5,585 points [1] A - share Market - The Shanghai Composite Index rose 25 points or 0.7% to close at 3,559 points, a nine - month high since October last year, with a turnover of RMB730.9 billion [2] - The Shenzhen Component Index rose 93 points or 0.9% to close at 11,007 points, with a turnover of RMB969.1 billion [2] - The ChiNext Index rose 19 points or 0.9% to close at 2,296 points, with a turnover of RMB444 billion [2] US Stock Market - The S&P 500 Index rose 0.1% to close at 6,305 points, closing above 6,300 points for the first time, and the Nasdaq rose 78 points or 0.4% to close at 20,974 points [2] Central Bank Operations - The People's Bank of China conducted 170.7 billion yuan of seven - day reverse repurchase operations on July 21, with an operating rate of 1.4%. There were 226.2 billion yuan of reverse repurchases maturing, resulting in a net withdrawal of 55.5 billion yuan [2] - The central parity rate of the RMB against the US dollar was set at 7.1522, down 24 points [2] Economic Data - The overall consumer price index in June 2025 increased by 1.4% year - on - year, lower than the market expectation of 1.7% and the 1.9% increase in May 2025. The basic inflation rate was 1%, the same as in May [4] Corporate News - JD.com's self - operated takeaway store "Seven Fresh Kitchen" opened on July 20 [4] - Transsion Holdings is considering a secondary IPO in Hong Kong, planning to raise about US$1 billion (equivalent to about HK$7.8 billion), but the discussion is in the early stage [4] - Harbin Electric issued a profit warning, expecting a net profit of about 1.02 billion yuan for the six months ended June, compared with 523 million yuan in the same period last year [5] - Meitu expects an adjusted net profit attributable to the parent company's equity holders to increase by about 65% - 72% year - on - year for the six months ended June 30, 2025. Considering non - cash and non - operating items, the net profit is expected to increase by no less than 30% [5] International News - The Kremlin said it does not rule out a meeting between the Russian and US presidents if they both visit Beijing in September. Russian President Putin will visit China for the 80th anniversary of the end of World War II [3] - US Treasury Secretary Bessent said the US government focuses on the quality of trade agreements and will not rush to reach an agreement. Countries in trade negotiations with the US may face high tariffs if no agreement is reached by August 1 [3]

港股點評 2024年8月13日9:30 a.m 恒指升 21 點，滬指跌 3 點，標普升 0.2 點 港股窄幅爭持。恒指高開 12 點，曾跌 87 點見 17,002 點，亦曾升 72 點見 17,162 點，全日波幅不足 160 點，收升 21 點或 0.1%，報 17,111 點；國指升 11 點或 0.2%，收 6,029 點；恒生科技指數跌 6 點或 0.2%，收 3,429 點。大市全日成交總 額縮減至 703.34 億元，為約半年低。滬、深港通南下交易淨流入 37.21 億及 22.6 億元人民幣。 人民銀行 12 日進行 745 億元人民幣七天期逆回購操作，中標利率持平於 1.7%。 有 6.7 億元逆回購到期，單日淨投放 738.3 億元。人民幣兌美元中間價下調 9 點， 報 7.1458。A 股三大指數早市窄幅偏軟，成交持續縮減。滬指全日收報 2,858 點， 跌 3 點或 0.1%，成交額 2,176 億元。深成指收報 8,373 點，跌 20 點或 0.2%，成 交額 2,783 億元。創業板收報 1,592 點，跌 3 點或 0.2%，成交額 1,292 億元。 投資者關注周二及周三公 ...

港股點評 2024年8月12日9:30 a.m 恒指升 198 點，滬指跌 7 點，標普升 24 點 港股隨外圍上升。恒指高開 205 點後升幅擴大，曾升 360 點一度高見 17,252 點， 全日升 198 點或 1.2%，收 17,090 點；國指升 76 點或 1.3%，收 6,017 點；恒生 科技指數升 70 點或 2.1%，收 3,436 點。大市全日成交總額 880.7 億元，滬、深 港通南下交易淨流入 27.25 億及 16.14 億元人民幣。 人民銀行 9 日進行 129 億元人民幣七天期逆回購操作，中標利率持平於 1.7%。 有 11.7 億元逆回購到期，單日淨投放 117.3 億億元。人民幣兌美元中間價上調 11 點，報 7.1449。內地 7 月 CPI 按年漲 0.5%高於預期。A 股三大指數高開後反 覆走低，成交縮減。滬指全日收報 2,862 點，跌 7 點或 0.3%，成交額 2,529 億 元。深成指收報 8,393 點，跌 52 點或 0.6%，成交額 3,102 億元。創業板收報 1,595 點，跌 15 點或 1%，成交額 1,388 億元。 投資者消化聯儲局官員言論， ...