【HEADLINES】
1. US major indices showed mixed performance on Thursday (24th), with the Dow Jones Industrial Average declining for the third consecutive trading day. US long-term government bond yields rose to over 20-year highs, coupled with rising oil prices, continued to pressure markets; however, market optimism that the US and Iran may make progress on reopening the Strait of Hormuz and easing conflicts boosted US stocks from intraday lows. The three major indices initially dropped significantly but later narrowed losses. The Dow closed down 161.61 points, or 0.31%, at 51,349.98 points; the S&P 500 fell 1.9 points, or 0.02%, to 7,704.13 points; the Nasdaq edged up 3.34 points, or 0.01%, to 26,939.37 points. The Nikkei opened at 65,540 points, up 26 points.
2. Today (25th) marks the first day of China's three-day Mid-Autumn Festival holiday. A-shares are closed, and the Stock Connect service is suspended. The Stock Connect service will resume as usual next Monday (28th).
3. The meeting between Chinese and US leaders commenced in a friendly atmosphere. During the less-than-two-hour discussion, both sides addressed multiple topics including artificial intelligence. President Xi Jinping stated that China and the US have reached a new economic and trade joint arrangement, and while there is competition in AI, there is also room for cooperation. Trump said he and Xi are good friends and that China and the US should maintain dialogue and strengthen cooperation on AI.
4. Xi Jinping urged the US to uphold its correct stance opposing 'Taiwan independence' and handle the Taiwan issue prudently.
5. The US and Iran are reportedly discussing a phased agreement involving reopening the Strait of Hormuz and the US lifting sanctions on Iran.
6. The Houthi armed group claimed attacks on facilities in Riyadh and Yanbu operated by Saudi Aramco. Reports indicate an advisor to Iran's Supreme Leader said the next phase of the conflict might extend to the Indian Ocean.
7. Global bond markets faced sell-offs, with 30-year US Treasury yields hitting a more than 20-year high, while the US Treasury's long-term bond buyback operation on Thursday fell short of the $6 billion cap, below market expectations.
8. It is reported that multiple Chinese insurance companies have received notices allowing insurers eligible to invest in Stock Connect stocks to begin investing in Stock Connect ETFs, with the regulatory guidance effective from September 20.
9. The People's Bank of China's Monetary Policy Committee reiterated at its quarterly meeting to implement a moderately loose monetary policy and increase counter-cyclical adjustment efforts, but no longer mentioned cross-cycle adjustments.
10. The People's Bank of China's "RMB Internationalization Report" shows that cross-border RMB financing in the first half of this year increased by over 22% year-on-year, with RMB cross-border payments between China and Europe exceeding those between China and ASEAN.
11. Beijing's housing and construction commission and other departments issued regulations stating that new residential projects starting from August 28 should prioritize ready-to-sell housing, with strengthened management of presales.
【STOCK HIGHLIGHTS】
AI large model concept: Zhipu (02513), MiniMax (00100)
- Trump said China and the US should maintain dialogue and strengthen cooperation on AI, Xi Jinping said there is competition in artificial intelligence, but also room for cooperation
Property developers: Vanke (02202), China Resources Land (01109), China Overseas (00688)
- Beijing clarifies that presale of residential properties requires topping out, with priority given to ready-to-sell housing
Shandong Gold (01787)
- Cuts its gold output target for this year to at least 36 tons, a year-on-year decline of up to 26%, expects full-year net profit to fall
Hantian Cheng (02726)
- Received increased chip orders from a major international client, with maximum sales reaching $95.8 million
Hansoh Pharmaceutical (03692)
- National Medical Products Administration accepted application for marketing authorization of Ruikang Lifutuotadan injection for osteosarcoma treatment
CSPC Pharmaceutical Group (01093)
- Positive top-line results achieved in clinical trial of Beiketuotadan combined therapy for lung cancer
China Life (02628)
- Plans to partner with controlling shareholder to establish a partnership with up to RMB 4.5 billion to invest in artificial intelligence and semiconductors
- Non-wholly owned subsidiary elderly care insurance company plans to set up partnership with RMB 2 billion to invest in Shanghai's three leading industries
CGN Power (01816)
- Plans to hold 70% stake in joint venture for Luofeng Units 3 and 4 nuclear power project, with CATL holding 5% stake
Deep演 Intelligent (02723)
- Proposes 1-for-10 share split to enhance trading liquidity
Accelink (03308)
- Spent cumulative RMB 5 billion to repurchase 5.65 million A-shares, with maximum price per share at RMB 944.68
【OIL & GOLD QUOTES】
NYMEX crude oil down 0.71%, at $93.94/barrel
Brent crude oil down 0.76%, at $106.23/barrel
Spot gold down 0.18%, at $4,266.06/ounce
Gold futures up 0.11%, at $4,302.55/ounce
1. US major indices showed mixed performance on Thursday (24th), with the Dow Jones Industrial Average declining for the third consecutive trading day. US long-term government bond yields rose to over 20-year highs, coupled with rising oil prices, continued to pressure markets; however, market optimism that the US and Iran may make progress on reopening the Strait of Hormuz and easing conflicts boosted US stocks from intraday lows. The three major indices initially dropped significantly but later narrowed losses. The Dow closed down 161.61 points, or 0.31%, at 51,349.98 points; the S&P 500 fell 1.9 points, or 0.02%, to 7,704.13 points; the Nasdaq edged up 3.34 points, or 0.01%, to 26,939.37 points. The Nikkei opened at 65,540 points, up 26 points.
2. Today (25th) marks the first day of China's three-day Mid-Autumn Festival holiday. A-shares are closed, and the Stock Connect service is suspended. The Stock Connect service will resume as usual next Monday (28th).
3. The meeting between Chinese and US leaders commenced in a friendly atmosphere. During the less-than-two-hour discussion, both sides addressed multiple topics including artificial intelligence. President Xi Jinping stated that China and the US have reached a new economic and trade joint arrangement, and while there is competition in AI, there is also room for cooperation. Trump said he and Xi are good friends and that China and the US should maintain dialogue and strengthen cooperation on AI.
4. Xi Jinping urged the US to uphold its correct stance opposing 'Taiwan independence' and handle the Taiwan issue prudently.
5. The US and Iran are reportedly discussing a phased agreement involving reopening the Strait of Hormuz and the US lifting sanctions on Iran.
6. The Houthi armed group claimed attacks on facilities in Riyadh and Yanbu operated by Saudi Aramco. Reports indicate an advisor to Iran's Supreme Leader said the next phase of the conflict might extend to the Indian Ocean.
7. Global bond markets faced sell-offs, with 30-year US Treasury yields hitting a more than 20-year high, while the US Treasury's long-term bond buyback operation on Thursday fell short of the $6 billion cap, below market expectations.
8. It is reported that multiple Chinese insurance companies have received notices allowing insurers eligible to invest in Stock Connect stocks to begin investing in Stock Connect ETFs, with the regulatory guidance effective from September 20.
9. The People's Bank of China's Monetary Policy Committee reiterated at its quarterly meeting to implement a moderately loose monetary policy and increase counter-cyclical adjustment efforts, but no longer mentioned cross-cycle adjustments.
10. The People's Bank of China's "RMB Internationalization Report" shows that cross-border RMB financing in the first half of this year increased by over 22% year-on-year, with RMB cross-border payments between China and Europe exceeding those between China and ASEAN.
11. Beijing's housing and construction commission and other departments issued regulations stating that new residential projects starting from August 28 should prioritize ready-to-sell housing, with strengthened management of presales.
【STOCK HIGHLIGHTS】
AI large model concept: Zhipu (02513), MiniMax (00100)
- Trump said China and the US should maintain dialogue and strengthen cooperation on AI, Xi Jinping said there is competition in artificial intelligence, but also room for cooperation
Property developers: Vanke (02202), China Resources Land (01109), China Overseas (00688)
- Beijing clarifies that presale of residential properties requires topping out, with priority given to ready-to-sell housing
Shandong Gold (01787)
- Cuts its gold output target for this year to at least 36 tons, a year-on-year decline of up to 26%, expects full-year net profit to fall
Hantian Cheng (02726)
- Received increased chip orders from a major international client, with maximum sales reaching $95.8 million
Hansoh Pharmaceutical (03692)
- National Medical Products Administration accepted application for marketing authorization of Ruikang Lifutuotadan injection for osteosarcoma treatment
CSPC Pharmaceutical Group (01093)
- Positive top-line results achieved in clinical trial of Beiketuotadan combined therapy for lung cancer
China Life (02628)
- Plans to partner with controlling shareholder to establish a partnership with up to RMB 4.5 billion to invest in artificial intelligence and semiconductors
- Non-wholly owned subsidiary elderly care insurance company plans to set up partnership with RMB 2 billion to invest in Shanghai's three leading industries
CGN Power (01816)
- Plans to hold 70% stake in joint venture for Luofeng Units 3 and 4 nuclear power project, with CATL holding 5% stake
Deep演 Intelligent (02723)
- Proposes 1-for-10 share split to enhance trading liquidity
Accelink (03308)
- Spent cumulative RMB 5 billion to repurchase 5.65 million A-shares, with maximum price per share at RMB 944.68
【OIL & GOLD QUOTES】
NYMEX crude oil down 0.71%, at $93.94/barrel
Brent crude oil down 0.76%, at $106.23/barrel
Spot gold down 0.18%, at $4,266.06/ounce
Gold futures up 0.11%, at $4,302.55/ounce
