Market Overview - The Hang Seng Index (HSI) fell by 61 points or 0.2%, closing at 25,104 points, after opening 50 points higher and later dropping to a low of 25,000 points[1] - The Shanghai Composite Index rose by 4 points or 0.1%, closing at 3,771 points, with a total trading volume of 9,977 billion yuan[1] - The S&P 500 dropped by 25 points or 0.4%, closing at 6,370 points, marking its fifth consecutive day of decline[2] Monetary Policy and Economic Indicators - The Hong Kong Monetary Authority provided liquidity of 77 million HKD through the discount window[1] - The People's Bank of China conducted a 253 billion yuan reverse repurchase operation at a steady rate of 1.4%, resulting in a net injection of 124.3 billion yuan for the day[1] - The RMB/USD midpoint was adjusted up by 97 pips to 7.1287[1] Corporate Earnings Highlights - China Power (02380.HK) reported a revenue of 23.858 billion yuan, down 9.9% year-on-year, with a net profit of 2.587 billion yuan, a slight increase of 0.7%[2] - KANLONG (03759.HK) reported a revenue of 6.441 billion yuan, up 14.9% year-on-year, but a net profit decline of 37% to 701 million yuan due to previous year's investment gains[3] - Li Ning (02331.HK) reported a revenue of 14.817 billion yuan, up 3.3%, with a net profit decline of 11% to 1.737 billion yuan[3] - Bilibili (09626.HK) reported a net revenue of 7.338 billion yuan, up 19.8% year-on-year, and turned a profit of 219 million yuan compared to a loss of 609 million yuan in the previous year[4]

Market Overview - The Hang Seng Index (HSI) closed at 25,176 points, down 93 points or 0.4% after reaching a high of 25,466 points earlier in the day[1] - The total market turnover was HKD 312.78 billion, the highest level since July 31[1] - Northbound trading totaled HKD 181.83 billion, while southbound funds saw a net inflow of HKD 1.39 billion, a significant drop of 96% from last Friday's net inflow of HKD 35.88 billion[1] A-Shares Performance - The Shanghai Composite Index rose 31 points or 0.9% to close at 3,728 points, with a peak of 3,745 points, marking a nearly ten-year high[2] - The Shenzhen Component Index increased by 200 points or 1.7%, closing at 11,835 points, with a turnover of CNY 1.63 trillion[2] - The ChiNext Index gained 71 points or 2.8%, closing at 2,606 points, with a turnover of CNY 829.6 billion[2] Corporate Earnings Highlights - Wu Jinzi, the founder of WuXi AppTec (02268.HK), reported a revenue of CNY 2.701 billion for the six months ending June, a year-on-year increase of 62.2%[3] - The net profit for WuXi AppTec was CNY 746 million, up 52.7%, with earnings per share of CNY 0.62[3] - Genscript Biotech (01672.HK) announced a placement of 52.4 million shares at HKD 16.45, a discount of approximately 9.9% from the closing price[4] - Hansoh Pharmaceutical (03692.HK) reported a revenue of CNY 7.434 billion, a year-on-year increase of 14.3%, with a net profit of CNY 3.134 billion, up 15%[4] - Li Auto (09863.HK) achieved a revenue of CNY 24.25 billion, a year-on-year increase of 174.1%, turning a profit of CNY 33.03 million compared to a loss of CNY 2.212 billion in the previous year[5]

Market Performance - The Hang Seng Index opened 197 points lower and closed 249 points or 1% down at 25,270, with a daily trading volume up over 15% to HK$312.687 billion [1] - The Shanghai Composite Index rose 30 points or 0.8% to 3,696, with a turnover of RMB960.6 billion; the Shenzhen Component Index rose 183 points or 1.6% to 11,634, with a turnover of RMB1.28 trillion; the ChiNext Index rose 64 points or 2.6% to 2,534, with a turnover of RMB652.2 billion [2] - The Dow Jones Industrial Average rose 34 points or 0.1% to 44,946; the S&P 500 Index fell 18 points or 0.3% to 6,449; the Nasdaq Composite Index fell 87 points or 0.4% to 21,622 [2] Central Bank Operations - The People's Bank of China conducted a 7 - day reverse repurchase operation worth RMB238 billion at an unchanged rate of 1.4% on the 15th, with a net injection of RMB116 billion after RMB122 billion of reverse repurchases matured. It also carried out a 6 - month buy - out reverse repurchase operation worth RMB500 billion [2] - The central parity rate of the RMB against the US dollar was lowered by 34 points to 7.1371 [2] Corporate News - Huahong Semiconductor is planning to acquire the controlling stake of Shanghai Huili Microelectronics by issuing shares and paying cash, and is currently in contact with potential transaction parties [4] - Argo Biopharma is considering an IPO in Hong Kong, aiming to raise about US$300 million (equivalent to about HK$2.34 billion) [4] - China Shenhua plans a mid - 2025 profit distribution, with the amount not less than 75% and not more than the attributable net profit to shareholders in the first half of the year [4] - Longfor Group issued a profit warning, expecting a 45% drop in profit and a 70% drop in core profit for the six months ended June compared to last year due to the decline in the real estate industry [5] - China Hongqiao reported a 10.1% year - on - year increase in revenue to RMB81.039 billion and a 35% increase in net profit to RMB12.361 billion for the six months ended June, with no interim dividend [5] - Sands China reported a 23.7% year - on - year drop in net profit to US$413 million for the six months ended June, with an interim dividend of HK$0.25 [5] International News - US President Trump and Russian President Putin met in Alaska but did not reach a consensus on a cease - fire in Ukraine. Trump said they discussed land transfer and security guarantees in Ukraine and were close to an agreement, pending Ukraine's approval [3] - Based on the results of the meeting, Trump said he did not think it was necessary to take action regarding China's purchase of Russian oil for the time being and might reconsider in two to three weeks [3] Banking Data - In the first half of 2025, commercial banks in China achieved a cumulative net profit of RMB1.2 trillion. At the end of the second quarter of 2025, the average return on capital was 8.19% and the average return on assets was 0.63% [4]