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]