Core Viewpoint - The Beijing Stock Exchange (BSE) is transitioning to a new stock code system to enhance stock identification, with a new code segment starting with 920 being implemented as per the China Securities Regulatory Commission's directive [3][4]. Group 1: Code Change Rules - The stock codes will change such that the first three digits will uniformly become 920, while the last three digits will remain unchanged [4]. - In cases where the new stock codes result in duplicates, the fourth digit will be adjusted sequentially based on the listing time to ensure each company's code is unique [4]. Group 2: Code Change Process - The BSE has published a comparison table of old and new stock codes for existing listed companies, which can be accessed on the BSE official website [5]. - As of May 2025, the BSE will initiate the new stock code for a pilot group of 6 stocks, while the remaining 242 stocks will continue using their existing codes until a stable transition is confirmed [6].

Group 1 - The Hong Kong government is advised to extend stock trading hours to enhance market liquidity and attract international capital, with a phased approach suggested to align with European market hours [1][2] - A proposal to establish a credit risk-sharing fund in collaboration with Chinese banks and insurance companies aims to provide credit guarantees for Chinese enterprises operating in Hong Kong, particularly in sectors like infrastructure and renewable energy [1][3] - The suggestion to create an "Investment Immigration Channel" aims to facilitate cross-border investments for high-net-worth individuals from mainland China through Hong Kong [1][4] Group 2 - The recommendation to expand the low-altitude economy regulatory sandbox includes advanced applications such as passenger electric vertical take-off and landing vehicles and AI air traffic management [1][6] - The development of the Northern Metropolis is emphasized, with a focus on attracting flagship investors to create a "lighthouse effect" that draws more high-potential enterprises [1][5] - The Hong Kong government is encouraged to leverage local AI markets in sectors like fintech and healthcare, promoting open-source initiatives and enhancing the AI capabilities of civil servants [1][5]

（股份代號：139） 有關可能投資一間公司之諒解備忘錄 小魚盈通控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈，於二零二五年八月十八日，本公司與浙江出海數字技術有限 公司（「目標公司」）訂立諒解備忘錄（「諒解備忘錄」）。諒解備忘錄之主要條款載 列如下。 諒解備忘錄 日期： 二零二五年八月十八日 訂約方： 本公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （前稱 Central Wealth Group Holdings Limited 中達集團控股有限公司） （於百慕達註冊成立之有限公司） 目標公司 目標公司為一間於中華人民共和國（「中國」）註冊成立之有限責任公司。經董事會 作出一切合理查詢後所深知、盡悉及確信，目標公司及其最終實益擁有人均為獨 立第三方。 諒解備忘錄之主要條款 待簽訂正式協議後，本公司（或其指定實體）擬對目標公司進行投資（包括但不限 於收購目標公司股權）。 於簽訂諒解備忘錄後，本 ...

Group 1 - The core event involves a block trade of Tereus (834014) on the Beijing Stock Exchange, with a closing price of 14.01 yuan per share [1] - The block trade occurred at a price of 9.56 yuan per share, representing a discount of 31.76% from the market price [1] - The transaction involved 250,000 shares, amounting to a total value of 2.39 million yuan [1] Group 2 - The buying brokerage was founded by Founder Securities Co., Ltd., specifically the Jiyuan Xuanhua East Street Securities Office [1] - The selling brokerage was CITIC Construction Investment Securities Co., Ltd., specifically the Jiaozuo Democratic South Road Securities Office [1]

Core Viewpoint - The article discusses the impact of recent political and economic turmoil, such as tariff increases and central bank policy shifts, on the volatility of stock, bond, and commodity markets [1][2]. Market Volatility - Following the announcement of a series of tariff policies by the Trump administration, global markets experienced significant turbulence, with nearly $6.6 trillion in market value evaporating from the U.S. stock market within two trading days. The S&P 500 index rebounded by 9.5% the following day, marking the largest single-day gain in over a decade [2]. - The volatility reflects deeper uncertainties regarding global trade policies, inflation, and central bank directions, leading to a reassessment of inflation risks and U.S. Federal Reserve policy paths, resulting in dramatic fluctuations in U.S. Treasury yields [2]. Cross-Asset Awareness - Isolated analysis of stocks is no longer sufficient; stock volatility is influenced by multiple asset classes, including commodity price fluctuations, currency volatility, interest rate expectations, and geopolitical risks [3][4]. - The divergence between U.S. and European stock markets exemplifies this, where the S&P 500 is buoyed by strong technology sector performance, while European indices are pressured by tariff concerns and energy price shocks [3]. Data Tools and Decision-Making - Investors must leverage advanced data tools like LSEG Workspace and StarMine to filter market noise and extract actionable insights, enabling them to make informed decisions in volatile markets [4][5]. - The ability to focus on critical information and utilize refined data-driven signals is increasingly valuable, as it helps identify potential opportunities during market dislocations [5]. Strategic Adjustments - Recognizing market dynamics is crucial, but the ability to act under pressure is equally important. Tariff policy adjustments can have complex ripple effects across industries and asset classes [6]. - Integrated decision-making environments, such as LSEG Workspace, allow investors to analyze and adjust strategies without switching systems, enhancing agility in responding to market changes [6]. Maintaining a Competitive Edge - Market volatility is expected to persist, and investors must build processes, utilize appropriate tools, and apply precise insights to turn market complexities into competitive advantages [7]. - The ultimate winners in this rapidly changing market will be those who can accurately determine where to allocate funds and seize the best timing for action [7].

Group 1 - The U.S. stock market has a complex trading mechanism that is crucial for market participants to understand for better engagement in trading [1] - Regular trading hours are from 9:30 AM to 4:00 PM Eastern Time, Monday to Friday, with high market participation and active trading volume [1] - Pre-market and after-hours trading provide additional opportunities for investors, especially those with specific information or analysis, although they may have lower liquidity and higher costs [1] Group 2 - The U.S. stock market does not have fixed trading unit limits, allowing investors to trade in whole shares or fractional shares, thus lowering the investment threshold [2] - Various order types exist in the U.S. stock market, including market orders, limit orders, and stop-loss orders, each serving different purposes and risk management strategies [2] - Market orders execute immediately at the best available price, while limit orders allow investors to set specific buy or sell prices, and stop-loss orders help minimize losses [2] Group 3 - The U.S. stock market operates on a T+2 settlement cycle, meaning that the settlement of funds and securities occurs on the second trading day after the transaction [3] - Brokers must complete the necessary clearing procedures with clearinghouses to ensure accurate transfer of funds and stocks between buyers and sellers [3]

香港本地股方面，长实集团涨0.16%，收报38港元；新鸿基地产涨1.94%，收报97.2港元；恒基地产 涨0.84%，收报28.94港元。 中资金融股方面，中国银行跌1.3%，收报4.54港元；建设银行跌0.5%，收报7.98港元；工商银行跌 0.16%，收报6.15港元；中国平安涨1.94%，收报57.9港元；中国人寿涨3.6%，收报23.62港元。 石油石化股方面，中国石油化工股份涨0.22%，收报4.48港元；中国石油股份涨0.13%，收报7.71港 元；中国海洋石油跌0.11%，收报18.99港元。 新华社香港8月14日电 香港恒生指数14日跌94.35点，跌幅0.37%，收报25519.32点。全日主板成交 2701.21亿港元。 国企指数跌21.12点，收报9128.93点，跌幅0.23%。恒生科技指数跌54.75点，收报5576.03点，跌幅 0.97%。 蓝筹股方面，腾讯控股涨0.68%，收报590港元；香港交易所跌0.14%，收报439.2港元；中国移动跌 0.45%，收报88.4港元；汇丰控股跌0.31%，收报100.4港元。 ...

Group 1 - Miami International Holdings (MIAX.US) announced its IPO pricing terms, issuing 15 million shares at $23 each, raising $345 million, which is above the expected range of $19 to $21 [1] - The fully diluted market capitalization of Miami International Holdings is $2.3 billion based on the current pricing [1] - MIAX common stock is set to begin trading on the New York Stock Exchange under the ticker "MIAX" on August 14 [1] Group 2 - Founded in 2007, Miami International Holdings operates four U.S. options exchanges and provides a diversified market ecosystem through proprietary trading technology [1] - The average daily trading volume for U.S. options on MIAX exchanges was 8.7 million contracts for the six-month period ending June 30, 2025, compared to 6.5 million contracts in the same period of 2024 [1] Group 3 - The IPO is underwritten by a consortium of banks including JPMorgan, Morgan Stanley, Piper Sandler, Keefe Bruyette Woods, Raymond James, William Blair, and Rosenblatt Securities [2]

Group 1 - The extension of the US-China tariff truce by 90 days has led to a bullish trend in Asian stock markets, including India, where corporate earnings are showing signs of recovery and retail investors are continuously injecting funds through mutual funds [1] - The domestic consumption market in India is showing optimistic performance, supported by low inflation, abundant monsoon rainfall, and a personal tax relief policy worth 1 trillion rupees, which collectively boost the consumer goods sector [1] - Motilal Oswal Financial Services predicts a 10% increase in earnings per share for Nifty 50 index constituents this fiscal year, significantly higher than the previous fiscal year's growth of only 1% [1] Group 2 - The domestic market has become a stabilizing factor for Indian pharmaceutical companies, with local sales showing resilience amid uncertainties in the US market due to tariffs [1] - In July, the sales of domestic pharmaceuticals in India grew by 7.9% year-on-year, marking the second-highest growth rate in six months [1] - Companies like Glenmark, Sun Pharma, Alkem, Torrent Pharma, and Dr. Reddy's have outperformed the market average, while Cipla and Lupin lag behind [2] Group 3 - The National Commodity and Derivatives Exchange (NCDEX) has received preliminary approval from market regulators to conduct stock derivatives trading, positioning itself as a competitor to major players like NSE and BSE [3] - Despite a market decline in July due to tariff concerns and weak corporate earnings, Indian retail investors injected a record 427 billion rupees (approximately 4.9 billion USD) into equity funds [3] - The contrasting trend of domestic investors becoming market stabilizers while foreign funds experienced a net outflow of about 3 billion USD highlights the growing importance of local investors in providing support during market downturns [3]

Core Viewpoint - The introduction of three new ETF options products marks an expansion of the ETF options market in China, enhancing the multi-tiered capital market product system [1] Group 1: New ETF Options Products - The newly listed products include the ChiNext ETF options, the CSI 500 ETF options, and the Shanghai Stock Exchange CSI 500 ETF options, indicating a further diversification of financial instruments available in the market [1] - The new products focus on innovative, growth-oriented, and small to mid-cap listed companies, enhancing the coverage of the Shenzhen Stock Exchange options product system from 42.77% to 59.69% [2] Group 2: Market Impact and Development - The launch of these ETF options is expected to invigorate the capital market, supporting stable and sustainable growth, and is aligned with the development seen in mature overseas markets [1][4] - The introduction of the ChiNext ETF options fills a gap in the Shenzhen market for hedging tools, promoting diverse investment strategies and improving pricing efficiency in the ChiNext market [4] Group 3: Performance Metrics - The management scale of the Jia Shi CSI 300 ETF has exceeded 18.1 billion, making it the largest broad-based ETF in the Shenzhen market, with a tracking error of only 0.03% [3] - The Jia Shi CSI 500 ETF, which is the largest ETF tracking the CSI 500 index, has shown strong index tracking capabilities with a year-to-date tracking error of 0.41% [3] Group 4: Future Outlook - The new ETF options are expected to complement existing products, enriching the multi-tiered capital market product system and attracting more long-term capital into the market [3][4] - The Shenzhen Stock Exchange aims to continuously optimize market construction under the guidance of the China Securities Regulatory Commission, enhancing its role in supporting high-quality economic development [4]