2025-09-02 09:01Market Performance - The Hang Seng Index closed at 25,617, up 2.15% for the day and up 27.70% year-to-date [1] - The Hang Seng Tech Index rose 2.20% to 5,798, with a year-to-date increase of 29.79% [1] - The Shanghai Composite Index increased by 0.46% to 3,875, with a year-to-date rise of 15.63% [1] Currency and Commodity Overview - The Renminbi Index stood at 96.570, showing a 0.90% increase over the last month but a 3.33% decline over six months [2] - Brent crude oil price was $68.170 per barrel, down 0.86% over the last month and down 2.68% over six months [2] - Gold prices increased by 3.26% over the last month, reaching $3,473.27 per ounce, and rose 20.07% over six months [2] Company News - Alibaba's stock surged by 18.50% to HKD 137.10 after several major banks raised their target prices following the company's earnings report [5][21] - The pharmaceutical sector saw significant gains, with CSPC Pharmaceutical rising 9.14% and WuXi Biologics increasing by 8.37% [5][21] - Hengrui Medicine's HRS9531 injection received acceptance for market approval from the National Medical Products Administration, targeting long-term weight management for adults with obesity-related conditions [12] Economic Indicators - China's August Manufacturing PMI rose to 50.5, surpassing market expectations of 49.5, indicating a recovery in manufacturing activity driven by increased new orders [13][14] - Hong Kong's retail sales value for July increased by 1.8% year-on-year, falling short of the expected 2.5% growth [10][11] IPO and Market Trends - Recent IPOs have shown strong performance, with Jiaxin International Resources listing at a price of HKD 33.82, reflecting a first-day gain of 177.84% [28] - The upcoming IPO of Daxing Technology is set for September 9, 2025, with a proposed offer price of HKD 49.5 [28] Sector Performance - The biotechnology sector led gains with a 3.58% increase, while the automotive sector saw a decline of 2.00% [24] - The pharmaceutical sector also performed well, contributing to the overall positive market sentiment [24]