农银国际证券每天导读

Core Insights - The report highlights a slight increase in China's consumer price index (CPI) for June, rising by 0.2% year-on-year, indicating persistent deflationary pressures affecting economic recovery [7][19] - The report notes that the Chinese Securities Regulatory Commission has tightened short-selling regulations to combat improper arbitrage and maintain market stability [27] - The report discusses the significant transaction of four luxury houses on Hong Kong's Peak, sold for HKD 1.1 billion (approximately USD 141 million), marking the largest single transaction since the government's policy adjustments in February [9][10] Market Performance - The Hang Seng Index closed at 17,471.67, down 0.29% for the day and 2.82% over the past five days [2] - The H-share index closed at 6,251.18, reflecting a daily decrease of 0.39% and a five-day decline of 3.17% [2] - The Shanghai Composite Index and Shenzhen Component Index both experienced declines, with the Shanghai Composite showing a more significant drop [14] Economic Indicators - China's Producer Price Index (PPI) for June remained unchanged at -0.8% year-on-year, indicating ongoing deflationary trends [14] - The report mentions that the U.S. Federal Reserve Chairman Jerome Powell expressed cautious optimism about inflation trends, stating that there is not yet sufficient confidence that inflation will sustainably return to the 2% target [16][17] Corporate Developments - Apple plans to increase the shipment of its new iPhone model by 10% in the second half of the year, aiming for at least 90 million units [30] - TSMC reported a 40% year-on-year revenue growth in Q2, driven by the AI boom, with June revenue reaching TWD 207.9 billion [29] Regulatory Changes - The Chinese Securities Regulatory Commission has approved an increase in the margin ratio for short selling, effective from July 22, and has suspended the securities lending business from July 11 [27] - The report indicates that major Japanese banks are advising the Bank of Japan to significantly reduce its bond purchasing scale [4]