Core Viewpoint - The article discusses the trend of stock buybacks among Hong Kong-listed companies, highlighting that despite a decrease in total buyback amounts compared to the previous year, the number of companies engaging in buybacks has increased, indicating a strong confidence in their valuations [1][3]. Group 1: Buyback Trends - As of July 21, 2024, 209 Hong Kong companies have repurchased shares totaling over 1,034.28 million HKD, a decrease from 1,496.08 million HKD in the same period last year [1][3]. - The buyback trend reflects companies' recognition of their undervalued stock prices and aims to stabilize investor confidence [3][4]. - The introduction of the new inventory stock mechanism by the Hong Kong Stock Exchange has increased the efficiency of buybacks, allowing companies to hold repurchased shares as inventory rather than being forced to cancel them [4][5]. Group 2: Leading Companies - Major companies like Tencent Holdings, HSBC, and AIA have been significant players in the buyback market, with Tencent leading at 400.43 million HKD in buybacks this year [6][7]. - Tencent has consistently ranked first in buyback amounts and plans to repurchase at least 800 million HKD worth of shares in 2025 [6][7]. Group 3: Industry Insights - The sectors with the most buybacks include healthcare, consumer discretionary, and information technology, indicating a strategic focus on these areas [8]. - Analysts suggest that the current market conditions, including liquidity pressures and external economic factors, may influence future buyback activities and market stability [8].

Core Viewpoint - The stock of Shangwei New Materials has achieved a remarkable performance, with a continuous rise of 20cm limit up for nine consecutive trading days, setting a new record in the A-share market with a cumulative increase of over 400% [1][3]. Group 1: Stock Performance - Shangwei New Materials opened with a 20cm limit up and maintained this status until the close, with a closing price of 40.16 yuan per share and a market capitalization of 16.2 billion yuan [1]. - The stock has surpassed the previous record of eight consecutive 20cm limit ups held by AVIC Chengfei, which occurred from February 2 to February 13, 2023, with a cumulative increase of 416.2% during that period [3]. Group 2: Catalyst for Stock Surge - The surge in stock price was triggered by an announcement on July 8, where Shangwei New Materials revealed plans for a change in control through a combination of agreement transfer and tender offer, involving the establishment of a holding platform by Zhiyuan Robotics and its core team [3][6]. - If the transaction is completed, the controlling shareholder will change to Shanghai Zhiyuan Hengyue Technology Partnership, with the actual controller being Deng Taihua [6]. Group 3: Company Background - Shangwei New Materials, listed on the Sci-Tech Innovation Board since September 28, 2020, focuses on the research, production, and sales of new materials, and is a major supplier of environmentally friendly corrosion-resistant resins globally [8]. - The company has responded to market concerns regarding its connection to the robotics business, stating that its thermosetting resins are primarily used in industrial robots, while humanoid robots typically use thermoplastic resins [8].

Core Viewpoint - The U.S. stock market showed stable performance with major indices entering a consolidation phase after consecutive gains, driven by strong economic data and corporate earnings, despite rising concerns over potential tariffs on EU goods [1][3]. Economic Data - The Michigan Consumer Sentiment Survey indicated a significant drop in short-term inflation expectations, with one-year inflation expectations falling from 5% in June to 4.4% in July, alleviating concerns about persistent inflation [2]. - The U.S. Department of Labor reported a decrease in initial jobless claims, signaling a healthy job market, following a period of increased claims earlier in the spring [6][7]. Corporate Earnings - Netflix reported second-quarter earnings that exceeded expectations but failed to excite the market, leading to a decline in its stock price due to high valuation concerns [4]. - American Express delivered strong earnings, indicating robust spending among high-end consumers, which supports the overall economy [5]. Market Sentiment - The S&P 500 and Nasdaq reached historical closing highs, bolstered by strong economic data and corporate earnings, while concerns over tariff policies temporarily eased consumer confidence worries [3][4]. - Despite the positive economic indicators, uncertainties remain regarding trade policies and the potential impact on market stability, particularly with the looming decision on tariffs against EU imports [4][7].

Company News - TSMC's second-quarter net profit exceeded market expectations, reaching a historical high, resulting in a stock increase of over 3% [1] - Mira Murati, former CTO of OpenAI, announced that her AI startup, Thinking Machines Lab, completed a $2 billion seed funding round, with participation from notable investors including Nvidia and AMD [5] - Geely Automobile signed a merger agreement with Zeekr, allowing Zeekr shareholders to choose cash or Geely shares as compensation, which is seen as a key step in Geely's strategy to consolidate under "One Geely" [6] - Apple showcased its collaboration with three Chinese suppliers at the China International Supply Chain Promotion Expo, emphasizing its commitment to local supply chain development [7][8] - Tesla revealed images of its upcoming six-seat Model Y L, expected to launch in the fall, with a longer wheelbase compared to the standard Model Y [8] Industry News - The unemployment rate in Australia unexpectedly rose to 4.3% in June, the highest level since November 2021, leading to market speculation about potential interest rate cuts by the Reserve Bank of Australia [4] - President Trump indicated plans to impose tariffs on over 150 minor trade partners, potentially setting rates between 10% and 15% [2] - Concerns arose regarding the independence of the Federal Reserve as Trump hinted at the possibility of dismissing Chairman Powell, which could create economic uncertainty [3]

Group 1 - The People's Bank of China (PBOC) reported that as of June 2025, the broad money supply (M2) reached 330.29 trillion yuan, growing by 8.3% year-on-year, while the narrow money supply (M1) was 113.95 trillion yuan, up by 4.6% [2] - In the first half of 2025, new RMB loans increased by 12.92 trillion yuan, and the total social financing scale increased by 22.83 trillion yuan, which is 4.74 trillion yuan more than the same period last year [2] - The PBOC plans to conduct a 14 trillion yuan reverse repurchase operation to maintain liquidity in the banking system [4] Group 2 - China's total goods trade in the first half of 2025 was 21.79 trillion yuan, a year-on-year increase of 2.9%, with exports at 13 trillion yuan (up 7.2%) and imports at 8.79 trillion yuan (down 2.7%) [4] - In June 2025, the monthly trade volume reached 3.85 trillion yuan, marking a 5.2% increase, with exports of 2.34 trillion yuan (up 7.2%) and imports of 1.51 trillion yuan (up 2.3%) [4] Group 3 - China Salt Chemical Corporation reported a 5.76% decrease in revenue for the first half of 2025, totaling 5.998 billion yuan, with a net profit decline of 88.04% to 52.71 million yuan [9] - Qianfang Technology expects a net profit increase of 1125.99% to 1534.65% for the first half of 2025 [11] - Huahong Technology anticipates a net profit growth of 3047.48% to 3721.94% for the same period [12] - Aerospace Science and Technology Corporation projects a net profit increase of 1628.83% to 2315.27% for the first half of 2025 [21]

Core Viewpoint - The article discusses the impact of Trump's tariff policy on the market, highlighting a decline in U.S. stock indices and a shift towards safe-haven assets like gold due to increased tariffs on imports from the EU and Mexico [1][3]. Economic Data and Market Reactions - The U.S. stock market is facing significant tests this week with the upcoming release of June CPI and PPI data, as well as the commencement of the earnings season for major banks [3][4]. - The market anticipates that the CPI year-on-year rate will rise from 2.4% in May to 2.7% in June, while core CPI is expected to rebound from 2.8% to 3% due to companies passing on tariff-related costs to consumers [3]. Federal Reserve Insights - The Federal Reserve will release its Beige Book, which summarizes economic conditions across 12 districts, providing insights for monetary policy decisions. The term "tariff" appeared 122 times in the last report, indicating its significance in current economic discussions [3]. Corporate Earnings Season - Major financial institutions such as JPMorgan Chase, Citigroup, Wells Fargo, and BlackRock are set to report their earnings this week, marking the beginning of the second-quarter earnings season [4]. EU's Response to U.S. Tariffs - The European Commission President, Ursula von der Leyen, announced an extension of the suspension period for retaliatory tariffs against the U.S. until early August, emphasizing a preference for negotiation over escalation [5][6]. - Despite the extension, there are internal doubts within the EU regarding the effectiveness of this approach, with some officials questioning whether further concessions are appropriate given the current U.S. stance [6].

Core Insights - The report suggests that the market performance has decoupled from earnings since September last year, resembling the period from 2013 to 2015. In the early stages of PPI decline, negative impacts on earnings dominated, but as PPI remained negative for a sufficient duration, policy and liquidity factors improved, leading to a decoupling of market performance from earnings [2][10][11] - The current macro-level asset shortage may exceed that of 2014. If the bull market is driven by liquidity and policy rather than earnings, the logic of asset scarcity becomes more significant. The current 10-year government bond yield is about half of that in 2014, and the rate of decline over the past two years is comparable to that of 2014 [3][20][22] - Insurance funds have already impacted the market, and there is potential for increased inflow from household funds. Since the pandemic in 2020, household deposits have risen rapidly, but their inflow into the stock market has been limited due to the lack of a stable profit-making effect. With the market transitioning from bearish to bullish since September last year, conditions for accelerated household fund inflow are gradually being met [22][24] Market Changes - The report indicates that the A-share market has seen significant increases in major indices, with the ChiNext 50 rising by 2.65% and the ChiNext Index by 2.36%. In contrast, sectors like coal and banking have experienced declines [38][42] - Global stock markets have shown mixed performance, with indices such as Germany's DAX and France's CAC40 performing well, while indices in Brazil and Mexico have declined [39] - The report notes a net inflow of 241.19 billion yuan from southbound funds (Hong Kong Stock Connect) this week, indicating strong market interest [40][48]

Group 1 - Maserati's SUV model Grecale is being offered at a promotional price of 388,800 yuan, significantly lower than its official price range of 650,800 to 1,038,800 yuan, leading to over 10 units sold in just two days [1] - Nvidia's CEO Jensen Huang has entered the top 10 of the global billionaire list, with a net worth of approximately 143 billion dollars, just 10 billion dollars behind Warren Buffett [2] - Nvidia's stock price reached a historic high of 165.94 dollars, with a total market capitalization of 4.06 trillion dollars, making it the first company to surpass a 4 trillion dollar market cap at closing [3] Group 2 - Starbucks has received multiple acquisition proposals for its China business, with potential buyers including Hillhouse Capital and KKR, while Luckin Coffee's major shareholder is also in the bidding [4] - Alibaba's Vice President and former DingTalk CEO Ye Jun is set to leave the company after four years, during which he led DingTalk to achieve over 3 billion yuan in annual revenue [5] - The Hermes Birkin bag was sold for a record 8.58 million euros (approximately 72 million yuan) at Sotheby's, marking the highest price ever for a handbag [6] Group 3 - The demand for air conditioning units has surged in Northeast China due to unprecedented high temperatures, with sales in Heilongjiang province increasing by over 800% year-on-year [6] - YouTube announced the cancellation of its "Trending" page to focus on personalized content recommendations, aiming to enhance user engagement [10] - Google is set to provide discounted cloud computing services to the U.S. government, with the deal expected to be finalized soon [11] Group 4 - 360 Company expects a net loss of 240 million to 320 million yuan for the first half of the year, primarily due to increased marketing expenses [13] - Japanese restaurant chain Saizeriya reported a 15.4% year-on-year increase in sales for the first three quarters of the fiscal year, with net profit reaching a record high [14] - Dongpeng Beverage anticipates a net profit increase of 33% to 42% for the first half of the year, driven by its national expansion strategy [16] Group 5 - "Yingmu Technology" has completed a Series B funding round of over 150 million yuan, which will be used for product development and AI capabilities [18]

Group 1 - The US stock market opened with all three major indices declining, with the Dow Jones down 0.54%, Nasdaq down 0.32%, and S&P 500 down 0.43% [2][3] - Chinese concept stocks showed mixed performance, with Futu Holdings rising over 1.5% and Beike falling over 2% [2][3] - Major tech companies mostly declined, with Google down over 0.5% as it plans to offer cloud service discounts to the US government [2][3] Group 2 - US stock index futures were all down before the market opened, with Dow futures down 0.62%, S&P 500 futures down 0.55%, and Nasdaq futures down 0.46% [4][5] - European major indices also experienced declines, with France's CAC40 down 0.81%, Germany's DAX down 0.73%, and the UK's FTSE 100 down 0.35% [6][7] Group 3 - Spot gold saw an intraday increase of 1%, currently priced at $3357.84 per ounce [8] - Canada's employment numbers for June increased by 83,100, with the unemployment rate at 6.9%, down from the previous 7.0% [9]

Group 1 - Jay Chou's official entry into Douyin has sparked significant interest in related stocks, with Giant Legend's share price soaring over 160% and market capitalization exceeding 10 billion HKD [1][4] - Other A-share stocks, such as Fengshang Culture and Zhibang Home, also experienced remarkable gains, with both hitting the daily limit [1][6] - Analysts highlight the strong commercial energy of the "Jay Chou effect," indicating that the expansion of a top-tier IP's social influence can enhance its value and extend its lifecycle [1][6] Group 2 - Jay Chou's Douyin account quickly gained over 500,000 followers within hours, showcasing his strong appeal and potential for attracting new fans [2][3] - The entry into Douyin is expected to inject new momentum into the star IP business and boost sales of related products and brand collaborations [2][6] - The account currently has no public content, yet its follower count surged, indicating a high demand for Jay Chou's presence on social media [2][3] Group 3 - Giant Legend, which is closely tied to Jay Chou, saw its stock price rise significantly, with a peak increase of 165.62% and a trading volume of 8.3 billion HKD [4][6] - The company, which focuses on IP creation and new retail, has established a unique monetization path through its star IPs, including Jay Chou and Liu Genghong [5][6] - Giant Legend's business model has shown independent revenue-generating capabilities, indicating a potential new growth cycle [6]