2025-08-29 02:02Market Performance - The Hang Seng Index closed at 24,998, down 0.81% for the day but up 24.62% year-to-date [1] - The Hang Seng Tech Index fell 0.94% to 5,644, with a year-to-date increase of 26.32% [1] - The Shanghai Composite Index rose 1.14% to 3,843, with a year-to-date increase of 14.67% [1] - The Dow Jones Index increased by 0.16% to 45,636, marking a year-to-date rise of 7.27% [1] Currency and Commodity Overview - The Renminbi Index stood at 96.570, with a 1-month increase of 0.45% but a 6-month decline of 3.07% [2] - Brent crude oil price was $67.710 per barrel, down 2.39% over the past month [2] - Gold prices increased by 2.60% over the past month, reaching $3,400.91 per ounce [2] Company-Specific Developments - Meituan's stock price dropped nearly 13% after disappointing quarterly results, making it the largest decliner in both the Hang Seng Index and Tech Index [5] - Alibaba and JD.com saw their stock prices decline by nearly 5% or more [5] - Semiconductor stocks, particularly SMIC, saw significant gains, with SMIC reaching a high of 62.8 HKD, closing at 62.3 HKD, up nearly 11% [5][24] - Ctrip and other companies reported earnings, leading to respective stock price increases of over 4% and nearly 8% [5] Economic Indicators - The U.S. jobless claims decreased to 229,000, slightly below expectations, indicating a stable labor market [12] - U.S. corporate profits rebounded by 2% in the second quarter, reversing a decline from the previous quarter [13][14] - The U.S. GDP growth rate for the second quarter was revised up to 3.3%, reflecting strong consumer spending and investment [11] Industry Trends - The semiconductor industry is experiencing growth, with SMIC reporting a 35.6% year-on-year increase in net profit to $321 million for the first half of the year [22] - The electric vehicle market is competitive, with Tesla's sales in Europe dropping by 40.2% year-on-year, while BYD's sales surged by 225.3% [21] - EDA Group and UTCPAY are collaborating to launch a stablecoin payment solution, indicating a trend towards digital asset integration in e-commerce [17]