中泰国际每日晨讯

Group 1: Market Overview - The Hang Seng Index fell by 277 points or 1.5%, closing at 18,051 points, while the Hang Seng Tech Index dropped by 2.9% to 3,672 points, indicating a broad market decline[5] - China's GDP growth for Q2 was 4.7% year-on-year, below expectations, with the cumulative GDP growth for the first half of the year at 5.0%[5] - The consumer sector showed weakness, with retail sales growth slowing to 3.7% year-on-year in the first half of the year[6] Group 2: Financial Performance and Predictions - The company expects to receive approval for the weight loss drug, Masitide, in the first half of 2025, with a target price raised to HKD 51.05, reflecting an upward revision in earnings forecasts[2][16] - The clinical trial results for Masitide showed a weight reduction of 13.38% and 14.84% after 32 and 48 weeks, respectively, and a significant reduction in liver fat content by 80.2%[15] - The company's revenue forecast for 2025-26 has been adjusted upwards by 1.0% and 4.9%, respectively, due to the anticipated earlier market entry of Masitide[25] Group 3: Economic Indicators - The U.S. added 206,000 non-farm jobs in June, exceeding expectations of 191,000, but the average monthly job growth over the last three months has declined to 177,000, the lowest since January 2021[13] - The U.S. 10-year Treasury yield has decreased to 4.29%, with market expectations for interest rate cuts rising amid a slowing labor market and declining inflation[11] - China's fixed asset investment growth for the first half of the year was 3.9%, with real estate investment down by 10.1%[19]