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HSI +209pts (+0.8%) 27,996 HSCEI +109pts (+1.1) 10,174 T/O HK$151.09bn (+5.2% DoD)
A weak open and trending lower as investors try to get a grip on where inflation is going. Caution as earnings continue and ahead os US weekly jobs number
Inflation Jun +2.3% YoY vs +2.5% May (F/cast was +2.3%)
Inflation Jun +0.4% MoM vs +0.3% May (F/cast was +0.4%)
Inflation Jun +1.5% YoY vs +1.4% May (F/cast was +1.5%)
Inflation Jun +0.1% MoM vs +0.3% May (F/cast was +0.2%)
Opened Dow -10 points. S&P 500 futures were flat and Nasdaq 100 futures +0.04%. But sold off as Europe came in; currently Dow -177pts, S&P -0.5% and NDX flat. Caution ahead of more corporate earnings and labour market data and Powell’s continued Testimony.
CHINA CSI 300 closed +68pts (+1.4%) @ 5,151
Pre market PBOC 100bnYuan of MLF citing demand from tax payments partial rolling over the faciltiy.
CSI 300 opened lower but ticked higher initially before easing back and trading around flat. Housing data out on the open was weak. but markets rallied strongly on as the GDP growth data slowed but was better than expected considering last weeks PBoC RRR cut. But does raise further questions about why it was necessary and what the PBoC can see that investors cannot? I think the reliance on covid protection products and Tech over traditional exports. Retail sales & Industrial Production beat (Kweichow strong). Unemployment steady but its not a good indicator as many SOE workers are employed but reportedly not being paid.
PM saw the markets continue to work better but saw resistance around the 5,150 level.
Leaders were Liquor, steel sectors rose sharply, insurance, banking, brokerage, non-ferrous metals.
Laggards software, oil, agriculture, electricity, automobiles, food & beverage, and medicine names all weakened.
Foreigners net bought 12.398b yuan via Stock Connect, a new high since June 25.
Shanghai Composite +36pts (+1%) @ 3,565
Shenzhen Composite +113pts (+0.8%) @ 15,169
ChiNext Composite Index +19pts (+0.5%) @ 3,625
China's National Health Commission reported 28 confirmed cases yesterday (14th), with 23 of them being imported cases and 5 of them being local cases (all located in Yunnan).
House Price Index Jun +4.7% YoY vs+4.9% May (F/cast was 4.9%)
Fixed Asset Investment (YTD) Jun +12.6% vs 15.4% May (F/cast was 13%)
GDP Growth Rate Q2 +1.3% QoQ vs +0.6% Q1 (F/cast was +1.4%)
GDP Growth Rate Q2 +7.9% YoY vs +18.3% Q1 (F/cast was+8.3%)
Industrial Production Jun +8.3% YoY vs +8.8% May (F/cast was +8%)
Retail Sales Jun +12.1% YoY vs +12.4% May (F/cast was +11.1%)
Unemployment Jun 5% vs 5% May (F/cast was 5%)
Capacity Utilisation Jun 78.4% vs 77.2% May (F/cast was 77.1%)
HSI Pre market opened @ 27,801 +13 pts vs -44pts ADR’s.
Market has worked higher all morning until the China data came out and now easing back slightly going into lunch. PM markets drifted lower. Big dip around 3:30pm around the time the TSMC results came out. Rebounded but continued to trend lower. Shorting increased significantly.
News that Alibaba and Tencent working better together +VE.
Property +VE as Powell indicates rates to stay low for foreseeable future. Consumer, Tech and Energy seeing good interest.
Coal may see weakness as China announces to release 10m tonnes from reserves. Healthcare and Consumer Staples relative weakness
HONG KONG DATA
Short Selling Thursday 20.1% vs 16.5% Wednesday
Top Shorts Hengan (1044) 59%, Bud Apac (1876) 51%, Hang Seng Bank (11) 43%, Ping An (2318) 37%, Country Garden (2007) 35%, Haidilao (68620 35%, Bank of China (3988) 33%, HSBC (5) 31%, Baba (9988) 29%, Geely Auto (175) 29%, ICBC (1398) 27%, AAC Tech (2018) 26%, Wharf Reic (1997) 25%, Sino Biopharm (1177) 25%, CK Asset (1113) 25%.
MEDLIVE (02192.HK) closed at $31, up $3.8 or 14% against its listing price of $27.2, on a volume of 115 million shares, involving $3.545 billion. Excluding the handling fees, a book gain of $1,900 was reported per board lot of 500 shares.
AFTER MARKET NEWS
BYD COMPANY (01211.HK) (002594.SZ) announced that it has recently received a notice from the shareholder Lu Xiangyang who holds 8.36% shares of the company, stating that he pledged 1.7 million A shares of the company from 14 July 2021, and expected the pledging date till 20 July 2022 for operation demand purpose.
FOSUN TOURISM (01992.HK) Profit Warning For the six months ended 30 June 2021, mainly due to the decrease in the business
volume of the resorts by approximately 64% at constant exchange rate, the business volume of the Group is expected to decrease by approximately 42% compared to that of the six months ended 30 June 2020. The loss in the first half of 2021 is expected to be RMB2 billion to RMB2.15 billion which was mainly due to the operating loss of the Group’s resort operations.
LUK FOOK HOLD (00590.HK) announced that the overall same store sales growth reached 118% yearly for the first quarter (1Q) of financial year ending 31 March 2022 (FY2022). Among which, gold sales hiked 143% and fixed price jewellery sales added 94%.
CHINA SOUTH AIR (01055.HK) (600029.SH) announced that in June 2021, passenger capacity (measured by available seat kilometres (ASK)) of the Group increased by 13.23% as compared with the same period last year. Compared with the same period last year, passenger traffic (measured by revenue passenger kilometres (RPK)) increased by 23.9%.
CATHAY PAC AIR (00293.HK) announced that Cathay Pacific carried a total of nearly 40,700 passengers last month, an increase of 50% compared to June 2020, but a 98.7% decrease compared to the pre-pandemic level in June 2019. It’s looking forward to increasing passenger flights progressively and cautiously, said Chief Customer and Commercial Officer Ronald Lam. Contingent on the relaxation pace of travel restrictions in the world and Hong Kong, the airline forecast the passenger capacity in 4Q21 to be approximately 30% of pre-pandemic level. As to cargo business, the company is more cautiously optimistic as it viewed the overall cargo demand will continue to thrive till the end of the year.
Secretary for Transport and Housing Frank Chan expressed that residential properties in Hong Kong continue to see tight supply with the overall home prices remaining at an unaffordable level for ordinary citizens. Chan added that, therefore, the government believes Hong Kong is not yet ready for removing the management measures for residential property demand and that the government will take timely and appropriate measures to respond to any changes in the market.
The Hong Kong Monetary Authority (HKMA) together with the Banking Sector SME Lending Coordination Mechanism today (July 15) announced a further 90-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
FAW Group and ZTE (00763.HK) signed an agreement in Changchun to deepen their strategic cooperation in five key business areas, namely automotive electronics, 5G industry, product service, digitization and brand building, reported Chinese media. Both sides aim to expedite the R&D and commercialization process of new 5G applications and put on a demonstration for 5G industrial applications.
MEITUAN-W (03690.HK)'s Meituan Dache says it is recruiting drivers across 37 cities including Beijing, Shanghai, Chengdu, Guangzhou, Hangzhou, Huizhou, Shenzhen, Nanjing and Chongqing. The ride-hailing business pledges to provide new drivers with benefits like a seven-day commission-free period.SOLARGIGA (00757.HK) announced that for the period from 1 January to 30 June, the group has recorded revenue of RMB2.912 billion, up over 12% YoY.
SA SA INT'L (00178.HK) announced that for the first quarter ended 30 June 2021, the Group’s retail and wholesale turnover increased by 42.1% year on year to HK$839 million. The Group will also continue to rationalise its store network in the Hong Kong SAR to reduce its overall cost and optimise its cost structure, aiming at a faster turnaround for the Group and enhancing its profitability in the long term.
EVERGRANDE (03333.HK) announced that a meeting of the Board will be held on 27 July, to discuss the special dividend plan of the Company.
MCC (01618.HK) (601618.SH) announced that the value of newly signed contracts of the company amounted to RMB615.06 billion from January to June in 2021, representing an increase of 32.2% from the same period of last year.
BABA-SW (09988.HK)'s Alibaba Cloud announced on Weibo that it had nailed a Memorandum of Cooperation with SAIC Audi for alliance in internet of vehicles, global marketing, digital ecology, smart logistics construction and more. Leveraging their respective advantages, both parties will promote digitalized marketing of auto industry and build a smart travel ecosphere through cloud computing, internet of things and data intelligence.
OIL weak as the UAE is demanding the right to produce more oil next year in return for an extension of the supply cuts deal until Dec 2022.
BASE METALS STRONG Gold+1.11% climbed to the highest in four weeks after the Fed reassured investors on the outlook for stimulus, ZIJIN (2899 HK +2.7%) but SHANDONG (1787 HK -3%) said it expects 1H to swing to losses due to shutdown of mines following safety incident.
ANGANG STEEL (347 HK +4.2%) MAANSHAN (323 HK +3.5%) following stronger-than-expected Industrial Output data in June.
*CHINA BANKS FIRM as expectations of less NPLs with the better-than-expected economic data gave financial names a boost. Non-performing loans of China's mainland banks surged by 108.3b yuan in 1H to 3.5t yuan, CBIRC said. The bad-loan ratio was 1.86%, it said. China rolls over 100b yuan of medium-term policy loans. CCB (939 HK +2.2%) CMB (3968 HK +4.7%) ICBC (1398 HK +1.6%).
*INSURERS FIRM following premium gains in 1H.
CH LIFE (2628 HK +1.6%) Jan-June premium income +3.4% YoY to 442.6b yuan,
CH TAIPING (966 HK +2%) Jan-June premium income +3.75% to 111.9b yuan.
CPIC (2601 HK +2.9%) Jan-June premium income +3.7% YoY to 223.18b yuan.
*E-COMMERCE MIXED on consollidation; ALIBABA (9988 HK+2.5%) and TENCENT (700 HK+1.3%) outperformed as they are considering making their services available on the other’s platforms, news said. Such a move would allow customers to pay for items on Alibaba’s e-commerce marketplaces -- Taobao and Tmall -- with Tencent’s WeChat Pay. KUAISHOU (1024 HK -3.8%) BILIBILI (9626 HK -0.2%).
*AUTOS WEAK profit-taking, after HKEX data showed Himalaya Capital further sold 3.63m BYD (1211 HK -3.3%) H-shares at an average HK$224.1896 apiece July 9, stake cut to 6% fro 6.35%.
*POWER PROVIDERS STRONG as China said its power consumption rose 9.8% year on year in June to 703.3b kilowatt hours.
First-half use jumped 16% to 3.93 trillion KwH. DATANG RENEW (1798 HK +4.45) CH LONGYUAN (916 HK +2.1%) HUADIAN (1071 HK +1.4%) CR POWER(836 HK +1%).
*HK PROPERTY FIRM as yield drops overnight while demand for HK homes remain strong. The number of mortgages for completed homes in HK rose 25.3% last year to 44,931 and is expected to rise another 30% to 110,000 this year, which is a 10-year high, mReferral Mortgage Brokerage Services said. NWD (17 HK +1.5%) HENDERSON (12 HK +1.8%) CKA (1113 HK +2.4%) SHKP (16 HK +2%).
Market opened lower but has traded around flat in the morning session. PM the market drifted lower to close at the day low; -19pts (-0.3%) @ 7,336.
Employment data overall +VE but concerns about how the new lockdowns will hurt that. Little reaction yet to the good China data but may see upside in the PM. Miners & Utilities +VE but Financials weak along with BNPL names.
Employment Change Jun +29.1k vs +115.1k May revised (F/cast was 25k)
Full time Employment Change Jun +51.6k vs 97.5k May (F/cast was +35K)
Part time Employment Change Jun -22.5k vs +17.8K May revised (F/cast was -10k)
Unemployment Rate Jun 4.9% vs 5.1% May (F/cast was 5%)
Participation Rate Jun 66.2% vs 66.2% May (F/cast was 66.2%)
Nikkei opened lower at 28,539 and trended lower through the day with weak sentiment as covid cases remain a concern and ahead of the BoJ rate decision tomorrow and earnings also in focus; closed -329pts (-1.2%) @ 28,279.
Topix followed a similar pattern opened 1,958 and closed -24pts (-1.2%) @ 1,940. Hitcahi led the laggards.
Tokyo reported 1,308 new confirmed COVID-19 cases today (15th).
Foreign Bond Investment ¥-1217.8B vs ¥-191.4B prior
Foreign Stock Investment ¥-10.5B vs ¥-310B
Due later Tertiary Index May (Apr was -0.7% F/cast -0.6%)
New covid cases hit 1,600
Kospi opened higher at 3,269 as Fed’s Powell indicates it will stay accomodative, and initially ticked up to 3,272 before selling down to test yesterday’s closing level but then trended higher in choppy trading with resistance approaching 3,274 in the morning. But broke higher in the PM with sentiment helped by generally positive comments from the BoK; Closed +21pts (+0.7%) @ 3,286.
Kosdaq opened higher and but saw resitance abovethe 1,055 level, closed +9pts (+0.9%) @ 1,054
BoK Rate Decision unchanged at 0.5%
Taiex opened higher and trended higher but seeing resistance as it tests 17,950 but late morning broke higher but saw reistance at 18,000 but ticked higher at the end. Closed +188pts (+1.1%) @ 18,034.
T/O was US$16.25b vs US$20.46b Old economy rebounded (shipping renewed interest) with Tech quiet awaiting TSMC results.
After market TSMC results a slight miss but against raised expectations.
Northbound RMB 60,537m Sell 25,968m vs 34,569m Buy
Southbound HK$ 14,284m Sell 7,616m vs 6,669m Buy
Northbound RMB 70,002m Sell 33,102m vs 36,900m Buy
Southbound HK$ 15,625m Sell 7,328m vs 8,297m Buy
PING AN (02318.HK) Short selling Ratio 37.454% closed at $73.05, +3.7%
CCB (00939.HK) Short selling Ratio 21.398% closed at $5.58, +2.2%
BABA (09988.HK) Short selling Ratio 29.635% closed at $210.6, +2%
TENCENT (00700.HK) Short selling Ratio 9.127% closed at $565, +1.5%
AIA (01299.HK) Short selling Ratio 21.455% closed at $96.05, +0.8%
HKEX (00388.HK) Short selling Ratio 17.764% closed at $505, -0.4%
MEITUAN (03690.HK) Short selling Ratio 21.061% closed at $290.4, +0.1%
HSI & HSCEI Constituents on Move:
ENN ENERGY (02688.HK) Short selling Ratio 43.636% closed at $163.5, +7.5%, hitting new high
PSBC (01658.HK) Short selling Ratio 25.458% closed at $5, +5.7%
CM BANK (03968.HK) Short selling Ratio 41.066% closed at $64.8, +5%
SUNAC (01918.HK) Short selling Ratio 16.360% closed at $25.25, +4.8%
CG SERVICES (06098.HK) Short selling Ratio 13.704% closed at $78.35, +4.1%
HAIDILAO (06862.HK) Short selling Ratio 35.132% closed at $45.35, -4%
KUAISHOU-W (01024.HK) Short selling Ratio 36.632% closed at $154.8, -3.5%
BYD COMPANY (01211.HK) Short selling $624.44M; Ratio 19.720% closed at $213.8, -3.3%
JD HEALTH (06618.HK) Short selling Ratio 21.642% closed at $103, -3%
HSMI & HSSI Constituents on Move:
DONGYUE GROUP (00189.HK) +20.7%, hitting new high
ZA ONLINE (06060.HK) +16.6%
SHINEWAY PHARM (02877.HK) +8.8%, hitting new high
YONGDA AUTO (03669.HK) +5.5%, hitting new high
CRRC TIMES ELEC (03898.HK) +4.5%, hitting new high
MARKET HOURS NEWS.
The Centre for Health Protection (CHP) of the Department of Health (DH) announced that as of 0.00am, July 15, no new confirmed cases of coronavirus disease 2019 (COVID-19) had been recorded. As a passenger flight (LH796) operated by Lufthansa German Airlines arriving in Hong Kong from Frankfurt, Germany, on July 12 had one passenger confirmed to have COVID-19 by arrival testing and two passengers failed to comply with the requirements specified under the Prevention and Control of Disease Regulation, the DH thus invoked Cap. 599H to prohibit the landing of passenger flights from Frankfurt operated by Lufthansa German Airlines in Hong Kong from July 16 to 29.
Ark Investment Management founder and CEO Cathie Wood told CNBC that worries over Bitcoin's environmental impact would be unlikely to affect its long-term rally. Wood remained bullish on the crypto despite China's recent clampdown on Bitcoin mining and Tesla CEO Elon Musk's concern about the energy usage of Bitcoin mining.
The chief executive Carrie Lam expressed that there is currently no promise made in respect to the travel resumption between Hong Kong and Guangdong province and that it has to be carried out under the guidance of the Chinese government. Lam also stated that the two critical elements on which the border reopening hinges are the vaccination rate, preferably reaching 70% and prevention of the importation of cases.
Hong Kong Customs announced that they have mounted an operation codenamed "Coin Breaker" on July 8 in which a suspected money laundering syndicate involving $1.2 billion was smashed and four persons were arrested. This is the first time Customs has detected a money laundering case with virtual currency usage by a suspected money laundering syndicate.
The Hong Kong Tourism Board (HKTB) announced that the provisional visitor arrivals of June were 6,200, a 57.6% drop year on year, with a daily average of around 207 visitors. Affected by the COVID-19 pandemic, Hong Kong saw a cumulative visitor arrivals of around 34,000 in the first half of the year, a 99% drop year on year.
SWIREPROPERTIES (01972.HK) signed the Business Ambition for 1.5°C pledge in 2020 as part of its SD 2030 Strategy, said Director and Senior Advisor Elizabeth Kok at a press conference. As the first real estate developer in Hong Kong and the Chinese mainland to sign this pledge, SWIREPROPERTIES strives to limit global warming to 1.5°C, while contributing to the transition to a net-zero emissions economy in Hong Kong and the Chinese mainland. The group is now forging ahead with good achievements, she added. Meanwhile, SWIREPROPERTIES will actively take note of how to ramp up green financing.
FAST RETAIL-DRS (06288.HK) announced that at the request of the company, trading in its Hong Kong depositary receipts on The Stock Exchange of Hong Kong Limited will be halted with effect from 1:00 p.m. on July 15, 2021, pending the release of the quarterly results announcement of the Company and its subsidiaries for the nine months ended May 31, 2021, which constitutes inside information.
BAIC MOTOR (01958.HK) announces that it noted certain press speculation in relation to the possible initial public offering
of A shares of the Company and the recent increases in the price and trading volume of the shares of the Company. The Company clarifies that on 5 December 2017, the Company held the Extraordinary General Meeting and approved relevant proposals on the Company's initial public offering of shares in the PRC. The Company speculates that the Relevant News could be a result of the 23rd advisory progress report submitted by CSC Financial to the China Securities Regulatory Commission (Beijing Bureau) in June 2021.
The submission of the advisory progress report only provides the Company for an option for a possible A-share Listing in the future, but does not represent a current plan of the Company for the A-share Listing.
Hong Kong government will allow Hong Kong citizens and workers to return to Hong Kong from extremely high-risk areas including the U.K. from next week, on the condition that they hold the injection record of WHO-recognized COVID-19 vaccines, while unvaccinated students stranded in the U.K. will likewise be permitted to come home, reported South China Morning Post, citing sources.
HENDERSON LAND (00012.HK) announced that the commercial development at Murray Road, Central, which the group acquired in 2017, will be named "The Henderson". The group expressed that the project is set to become an “icon amongst icons” and will be developed into a 465,000-square-foot super Grade-A office tower designed by the world-renowned architectural firm Zaha Hadid Architects.
Alibaba.com, a B2B cross-border e-commerce platform of BABA-SW (09988.HK), announced that it manifested a gross merchandise
volume (GMV) growth of 111% year on year in the first half of the year. Among which, the top five GMV countries were: the United States, the United Kingdom, Canada, Australia and Germany.
Tencent Technology (Shenzhen) has recently applied for a Weibo trademark classified as telecommunication services in the international category, Chinese media citing the Tianyancha app. Tencent has registered several Weibo trademarks up to now.
Tencent Weibo, a microblogging service launched in 2010, was shut down last year.The chief executive Carrie Lam expressed that the Hong Kong government will continue to work on property and land supply in the coming year, focusing specifically on several aspects: local land supply, research and planning of Kau Yi Chau and Northern New Territories, strategic railway and road network development and urban renewal projects review. Lam stated that ensuring stable and sustainable land supply will continue to be the focus of the government's policies in the coming year.
National Bureau of Statistics (NBS) announced that China's nationwide property development investment for the first half of the year amounted to RMB7.22 trillion, up 15% YoY, falling short of the market estimate of 16%. Investment in residential properties hiked 17% to RMB5.42 trillion. Compared to the first half of 2019, the investment volume grew 17.2%, achieving an average 8.2% increase in two years. Also China's online retail volume of physical goods has achieved an average 16.5% growth in two years, accounting for 23.7% of the total retail volume of social consumer goods
The TENCENT (00700.HK)-backed analytics startup Amplitude has filed for a direct U.S. listing, with a US$4-billion valuation in the latest funding round a month ago. Amplitude was founded in San Francisco in 2012 to help firms optimize their products. Its customers include PayPal Holdings and Peloton Interactive.
Lu Weibing, XIAOMI-W (01810.HK)'s President of China and International Department, said 16 Mi Homes will be set up concurrently in various Inner Mongolian cities, such as Hohhot and Hulunbuir, on 17 July.
Britain upgraded its green list by including Croatia, Bulgaria, Hong Kong and Taiwan, meaning travelers from these places will just have to present negative Covid-19 test results before departure and upon arrival without the need for quarantine. The above changes will take effect from 4am on 19 July (UK time).
Netflix (NFLX.US) is planning to expand into the video game field, having hired former executives of Electronic Arts (EA.US) and Facebook (FB.US) to lead the new business, reported Bloomberg. This signifies Netflix's first vital move beyond TV shows and films.
ByteDance has decided to venture into the delivery industry, with a specialized delivery business team already set up at Douyin, reported Chinese media. Several sources as citied in the report suggested that ByteDance's delivery platform may potentially partner with BABA-SW (09988.HK)'s Ele.me or MEITUAN-W (03690.HK) to amass traffic.
FOSUN PHARMA (02196.HK) replied investor enquiries at the shareholders' meeting, saying the National Medical Products Administration (NMPA)'s examination of and approval for the company's Comirnaty COVID-19 mRNA vaccine had been basically completed. With the vaccine passing expert review, NMPA is now speeding up the administrative approval process.
BAIC MOTOR (01958.HK) affirmed that it is staging a comeback to A-share market, according to Chinese media. Meanwhile, China Securities had earlier disclosed a report regarding the A-share IPO of the company and the guidance work for its Main Board listing.
PRE MARKET HOURS NEWS
The PBOC mounted a seven-day RMB10 billion reverse repos
on open market today (15th). In addition, there was another RMB10 billion reverse repos due without investment or return. The bidding interest rate stayed flat at 2.2%. The RRR cut of the PBOC took effect today.
The People's Bank of China (PBOC) conducted the one-year Medium-term Lending Facility (MLF) operation of RMB100 billion today, with an unchanged interest rate of 2.95%.
AIG is planning to sell 9.9% stake in its life insurance business to Blackstone at USD2.2 billion, while selling part of its life and retirement units in the form of a spin-off IPO Under the pressure from activist investors, AIG has been endeavoring to separate its life insurance and retirement business from property and casualty units.
At a forum of China Internet Conference in Beijing earlier, 33 Chinese dotcoms including BABA-SW (09988.HK), TENCENT (00700.HK), ByteDance, Huawei, BIDU-SW (09888.HK), JD-SW (09618.HK), IFLYTEK (002230.SZ) jointly signed the Convention of Internet Platform Operators for Anti-Monopoly Self-Discipline, Southern Metropolis Daily reported. The Convention primarily safeguards the order of fair market competition, values consumers' welfare protection, and urges dotcoms to conduct self-discipline etc..
KINTOR PHARMA-B (09939.HK) announced that Suzhou Kintor Pharmaceuticals, a wholly-owned subsidiary of the Company, entered into a proxalutamide licensing agreement with Fosun Pharma Development, a subsidiary of FOSUN PHARMA (02196.HK), on the commercialisation of proxalutamide for the treatment of COVID-19 indication in India and 28 African countries and the parties agreed to collaborate on the emergency use authorization (EUA) applications, promotion, and sales of proxalutamide for the treatment of COVID-19 indication.
Chinese carmakers exported 158,000 vehicles in June 2021, up 5% monthly and 150% yearly, according to China Association of Automobile Manufacturers (CAAM)'s statistics. Of which, NEVs contributed to 11.1% of the country's car export
The U.S. Treasury Secretary Janet Yellen has no plan to resume the regular U.S.-China economic dialogue, Bloomberg cited people with the knowledge of the matter. While the U.S. officials will continue to keep contact with China, they will not resurrect official top-tier dialogue.
CHINA OVERSEAS (00688.HK) announced that COHL, a controlling shareholder of the Company, further acquired an aggregate of 1.0225 million shares of the Company in the open market from 3 June 2021 to 14 July 2021.
BABA-SW (09988.HK) and TENCENT (00700.HK) may break the wall between their respective users gradually, Wall Street Journal cited sources. For example, BABA-SW is considering opening up its Taobao and Tmall to accept WeChat Pay of TENCENT, whilst TENCENT may grant e-commerce information sharing from BABA-SW on WeChat or permit Weixin Mini Program users to approach BABA-SW services. In the next few months, BABA-SW will introduce UnionPay and other payment methods onto its shopping platforms, sources added.
TENCENT (00700.HK) announced that the Board has resolved yesterday to issue a total of approximately 2.4032 million new Shares to not less than 3,300 Awarded Persons under the Share Award Schemes. The new Shares to be issued and allotted by the Company to the Trustee represent approximately 0.025% of the Company’s enlarged issued shares after the allotment.
A report on the Internet development of China released at the 2021 China Internet Conference in Beijing revealed that, as of the end of 2020, the number of 5G network users in China has breached 160 million, accounting for approximately 89% of the total number of 5G users throughout the world, reported CCTV.Yunnan's National Health Commission reported five local COVID-19 cases yesterday (14 July)
.XPENG-W (09868.HK) announced that on July 14, the joint representatives have partially exercised the over-allotment
option in respect of an aggregate of 12.0833 million shares, representing approximately 14.22% of the offer shares initially available under the global offering. The over-allotment shares will be used to facilitate the return to Quack Holding Limited of part of the borrowed 12.75 million shares. The company will allot and issue the over-allotment shares at HKD165 per share and will receive additional net proceeds of approximately HKD1.97 billion.
NEXT DIGITAL (00282.HK) announced that Apple Daily Publication, a non wholly-owned subsidiary of the Company, confirmed to sell fifteen parcels of land and the five buildings thereon in Taoyuan, Taiwan to the independent third party YFY, for a consideration of TWD500 million (approximately HK$139 million).
Trading in the Shares has been halted with effect from 17 June pending the release of an announcement containing inside information in relation to recent developments of the Company. Trading in the Shares will continue to be suspended.
CHINA COAL (01898.HK) Positive Profit Warning. profit attributable to equity holders of the Company for the six months ended 30 June 2021 is expected to range from RMB8.065 billion to RMB8.92 billion, representing a year-on-year increase of 218.9% to 252.7%.