This and previous notes can be found at found on Substack too
HSI +316pts (+1.1%) 29,468 HSCEI +102pts (+0.9%) 10,991 T/O HK$156.99bn (+3% DoD but actually less as T/O incl a HK$2.3b placement)
Opened higher and is trending higher with European PMI data slightly better than forecast.
The European Commission on Monday proposed that vaccinated tourists should be exempted from mandatory testing or quarantine measures when travelling between EU nations, urging a progressive easing of travel restrictions to accommodate rising Covid-19 inoculations.
Atlantia investors on Monday backed the $11 billion sale of the Italian infrastructure group’s stake in its motorway division to state bank CDP and allies Blackstone and Macquarie.
Oil prices also surged overnight during Asian trading hours, Brent crude futures +1.72% at $70.51 per barrel. U.S. crude futures +2.43% to $67.93 per barrel.
Austria’s Raiffeisen Bank International +3.8% in early trade while Swiss online pharmacy Zur Rose Group -3.6%.
Manufacturing PMI Final May 63.1 vs 62.9 Apr (F/cast was 62.8)
Core Inflation Rate Flash May 0.9% YoY vs +0.7% Apr (F/cast was +0.8%)
Inflation Rate Flash May +2% YoY vs +1.6% Apr (F/cast was+1.9%)
Inflation Rate Flash May +0.3% MoM vs +0.6% Apr
Unemployment Apr 8% vs +8.1% Mar (F/cast was +8.1%)
Manufacturing PMI Final May 64.4 vs 66.2 Apr (F/cast was 64)
Unemployment Rate Apr 6% vs 6% Mar (F/cast was 6%)
Unemployment Change Apr -15k vs +8k Mar (F/cast was +15k)
Manufacturing PMI Final May 59.4 vs 58.9 Apr (F/cast was +59.2)
New Car Registrations May 46.4% vs 568.6% Apr
Manufacturing PMI Final May 65.6 vs 60.9 Apr (F/cast was 66.1)
Nationwide Housing Prices May +10.9% YoY vs 7.1% Apr (F/cast was 10.3%)
Nationwide Housing Prices May +1.8% MoM vs +2.3% Apr revised (F/cast was +1.1%)
Opened Dow -48pts, S&P -0.15% and NDX -0.1% and have eased slightly Dow -35pts, S&P -0.09%, NDX -0.03%
Ahead Manufacturing PMI, Construction Spending, IBD/TIPP Economic Optimism, ISM Manufacturing Data (PMI, Employment, New Orders, Prices) Dallas Fed Manufacturing Index, Logistics Managers Index Current, Total Vehicle Sales (after market).
Fed Speakers Quarles and Brainard
Earnings Canopy Growth, Hewlett Packard Enterprise, Ambarella, Zoom Video
CHINA CSI 300 closed +10pts (+0.2%) 5,342
CSI 300 opened lower @ 5,320 drifted lower for the first 5 minutes but rallied to 5,333 ahead of the PMI data but then sold off down to 5,272. It then spent the rest of the morning working back to the opening level. PM trended slightly lower for the first hour to 5,315 level before working better into the close. The three child policy seen as positive but the PBoC raising the RRR on forex a slight worry.
Sector wise; Leaders infant-related names, wine, oil, coal miners Laggards were brokers, electric power, and carbon-neutral names.
Shanghai Composite +9pts (+0.3%) @ 3,635
Shenzhen Composite +38pts (+0.3%) @ 15,035
ChiNext Index +6pts (+0.2%) @ 3,305
Caixin Manufacturing PMI May 52 vs 51.9 Apr (F/cast was 51.7)
China's National Health Commission reported 23 newly confirmed cases yesterday (31 May), with 12 imported cases (7 in Shanghai, 2 in Guangdong, 2 in Sichuan and 1 in Jiangsu) and 11 local cases all in Guangdong. There is no newly added death but there is one suspected case, being an imported one in Inner Mongolia.
PBoC decided to heighten the forex reserve requirement ratio (RRR) for financial bodies from 5% to 7% starting 15 June, representing a 2-ppt increase in order to bolster their forex liquidity management. There are two messages from the policy adjustment, said Guan Tao, Chief Economist of Bank of China Securities and former Director of the Balance of Payments Department at SAFE. Primarily, PBoC will not leave the hasty RMB appreciation unchecked. He believed the central bank will take resolute actions when necessary. Thereupon, PBoC will be bound to make hard punches.
HSI Pre market opened @ 29,159 +7pts initially dipped to 29,036 but then bounced to 29,220 tested a couple of times eased back before working better through the morning to 29,330 before easing back into lunch. PM worked slowly better through the afternoon to close around the day highs but T/O remains light as US and UK were closed Monday
HONG KONG DATA
Retail Sales Apr 10.9% YoY vs +19.8% Mar (F/cast was +22%)
The Census and Statistics Department (C&SD) released the latest figures on retail sales today (June 1). The value of total retail sales in April 2021, provisionally estimated at $27.0 billion, increased by 12.1% (consensus: +17%) compared with the same month in 2020. The revised estimate of the value of total retail sales in March 2021 increased by 20.2% compared with a year earlier.
Of the total retail sales value in April 2021, online sales accounted for 6.8%. The value of online retail sales in that month, provisionally estimated at $1.8 billion, increased by 27.2% compared with the same month in 2020. The revised estimate of online retail sales in March 2021 increased by 44.0% compared with a year earlier.
A government spokesman said that retail sales continued to grow visibly on a year-on-year basis in April due to a low base of comparison. Yet, retail sales volume was still far below its pre-pandemic level as inbound tourism remained frozen.
The Centre for Health Protection (CHP) reported 7 new covid cases; 6 imported and 1 local untraceable case. There were also no more than 5 initially positive cases
Short Selling Tuesday 18.7% vs 16.9% Monday
Top Shorts Country Garden (2007) 60%, Bud Apac (1876) 51%, CKAsset (1113) 51%, Bank Comm (3328) 50%, Sino BioPharm (1177) 38%, Ping An (2318) 35%, Hengan (1044) 33%, MTRC (66) 32%, Baba (9988) 30%, BoC (3988) 29%, Sinopec (386) 29%, Henderson Land (12) 28%, Hang Seng Bank (11) 28%, Power Assets (6) 26%.
AFTER MARKET NEWS
HSBC HOLDINGS (00005.HK) plans to shrink its Sydney office space by 30% before end-2022 as the bank pushes forward a hybrid working model, foreign media reported. The lender will release one of the four floors in Barangaroo, and go from four floors to two in Parramatta.
KWG GROUP (01813.HK) announced that for May, the pre-sales value of the Group and its joint ventures and associates amounted to RMB11.301 billion, representing a year-on-year increase of 23.5%.
MODERN LAND (01107.HK) announced that in May 2021, contracted sales of the Group amounted to approximately RMB4.148 billion, +23.86% YoY
NEXT DIGITAL (00282.HK) announced that on 31 May, the Company received a letter from the National Security Department confirming that Lai Chee Ying (aka Jimmy Lai) must not directly or indirectly exercise the voting rights in relation to any shares in the Company held by him except under the authority of a license granted by the Secretary for Security. As Lai is a shareholder of the Company, not a member of the board of directors of the Company, the prohibition of exercise of the voting rights in relation to any shares in the Company held by him is not expected to have any impact on the operational and financial performance of the Company.
To support the Government’s Covid-19 vaccination promotion, GREAT EAGLE H (00041.HK) announced today a series of consumer promotions will be launched at the hotels and shopping mall under the Group from now till 31 August. Three hotels under the Group in Hong Kong (i.e. The Langham, Hong Kong, Cordis, Hong Kong and Eaton HK) will offer 3,000 room nights at 50% off the room rates and dining outlets for Hong Kong residents who have received two doses of the Covid-19 vaccine and present a vaccination record. In addition, Langham Place under CHAMPION REIT (02778.HK) of the Group also offers 100% spending rewards to LP Club members who have received two doses of the Covid-19 vaccine.
*COMMODITIES MIXED oil traded higher in Asian hours ahead of the OPEC meeting CNOOC (883 HK +3.6%) CH OILFIELD (2883 HK +3.4%) PETROCHINA (857 HK +2.5%) Helped by the OECD report raising global growth targets. Plus OPEC and its allies forecast that inventories will fall sharply this year if the group sticks to its current plan.
BASE METALS PROVIDERS WEAK after MMG (1208 HK -5.5%) placed 565m shs @ HK$4.15 each. ANGANG (347 HK -2.2%) CHALCO (2600 HK -1.3%) MAANSHAN IRON (323 HK -0.5%).
*E-COMMERCE/INTERNET STRONG as consumers get ready to buy online on the June 18 Mid-Year shopping spree. ALIBABA (9988 HK +3.7%) TENCENT (700 HK +1.6%) JD.COM (9618 HK +2.4%), JD LOGISTICS (2618 HK +10%).
KUAISHOU (1024 HK +9.3%) on the news on launching WeChat mini-program that can be used for group purchases, called "Eat, Drink and Play in Kuaishou".
MEITUAN (3690 HK +6%) continued buying following its better-than-expected results and company's plan to address regulatory concerns.
*MACAU FIRM after Gross gaming revenue rose 492% in May to 10.4b patacas, beating estimates as tourism from mainland China swelled over the Golden Week holiday. WYNN (1128 HK +2.7%) SJM (880 HK+2.8%) GALAXY (27 HK +3.4%) SANDS (1928 HK +2.3%). Concerns about the latest covid surge in Guangdong being outweighted as traveller from other parts of China can still fly to Macau
*PHARMA MIXED VACCINE names traded softer on the news that China strengthens safety monitoring of Covid-19 vaccines. Local health authorities have designated teams to collect and report any adverse effects following vaccinations, says Feng Zijian, deputy director-general at the Chinese Center for Disease Control and Prevention. CANSINO (6185 HK -5%) SINOPHARM (1099 HK -0.8%) FOSUN (2196 HK -2.3%).
BIOPHARM FIRM on the industry's optimistic outlook; WUXI BIO (2269 HK +2.8%) WUXI APPTECH (2359 HK +5.2%) HBM (2142 HK +5%) PHARMARON (3759 HK +2.2%) GENESCRIPT (1548 HK +4.7%).
*BABY CARE WEAK after Monday’s rally as investors assess China's latest three-child policy. GOODBABY (1086 HK -12.8%) H&H (1112 HK -4.7%) JXR FERTILITY (1951 HK -4.9%) BASECARE (2170 HK -5.8%).
Market opened lower after mixed pre market data and trended lower on mixed data. Found support at 7,120 and then worked better to 7,145 ahead of the RBA interest rate decision. Then worked better to 7,158 before easing back to close -19pts (-0.3%) @ 7,143
Laggards were Banks and CSL. Leaders were iron ore miners BHP, Rio Tinto, FMG, Oil names and Woolies
Sydney home prices saw the sharpest QoQ rally in nearly 33 years Prices of high-end Sydney properties +12% for the three months ended May 31, more than doubling those for normal homes, CoreLogic's data showed.+VE high end developers
Pre Market Data
Manufacturing Index May 61.8 vs 61.7 Apr (F/cast was 62) Manufacturing PMI May 60.4 vs 59.7 Apr (F/cast was 59.9) Building Permits Apr -8.6% MoM vs +18.9% Mar (F/cast was -6.5%)
Business Inventories Q1 +2.1% QoQ vs -0.1% Q4 revised (F/cast was +0.3%)
Company Gross Profits Q1 -0.3% QoQ vs -4.8% Q4 revised (F/cast was +4.9%)
Current Account Q1 A$18.3b vs 16.08b Q4 revised (F/cast was 17b)
RBA Interest Rate Decision unchanged.
Nikkei opened higher and tested to 29,050 in initial trades before selling back to 28,850 bounced but then sold down to 28,700 bounced but dropped again into lunch. PM opened higher and trading sideways for an hour then rallied to ;28,860 (Monday’s close) but failed to break above and eased back to close -46pts (-0.2%) @ 28,814
Topix traded in a similar pattern but broke above Monday’s close to finish +3pts (+0.2%) @ 1,926
Capital Spending Q1-7.8% YoY vs -4.8% Q4 (F/cast was -6%)
Manufacturing PMI May 53 vs 53.6 April (F/cast was 52.5).
Kospi opened slightly higher after mixed trade data, dipped into the red but then rallied to 3,230 level and traded sideways 3,220/233 for a couple of hours but then eased lower to trade 3,212/223 for the remainder and closed +18pts (+0.6%)@ 3,222
Kosdaq Initially sold down to 979 before bouncing back and traded 984/981. Then from midday worked higher to end at the day high +3pts (+0.3%) @ 985
Balance of Trade May $2.93b vs 0.4b Apr revised from $0.39b (F/cast was $3.2b)
Exports May 45.6% YoY vs 41.1% Apr (Consensus was 48.5%)
Imports May 37.9% YoY vs 33.9% Apr (Consensus is 40.5%)
Manufacturing PMI May (Apr was 54.6 F/cast is 54)
KDCA reported 459 new covid cases Tuesday, while health authorities are easing distancing rules for vaccinated people to speed up the inoculation drive. (Third day in the 400’s)
Taiex opened higher 17,100 and rallied to 17,184 in early trades and then tested down to 17,078 around 9:40am. Then traded sideways 17,080/17,125. Trended higher in the last hour to close +94 pts (+0.6%) @ 17,162 T/O was US$16.74bn
Manufacturing PMI May 62 vs 62.4 Apr (F/cast was 62)
CECC confirmed 267 more Covid diagnoses today (1 June), including 262 local cases and five imported cases. There was also 65 backlog cases, giving a total 327 local infections for the day.
Northbound Rmb 47,871m Sell 23,716m vs 24,155m BuySouthbound HK$ 18,471m Sell 8,474m vs 9,996m Buy
Northbound Rmb 60,184m Sell 29,760m vs 30,424m Buy
Southbound HK$ 21,265m Sell 8,746m vs 12,519m Buy
MEITUAN (03690.HK) +6.5%
BABA (09988.HK) +3.4%
TENCENT (00700.HK) +1.5%
AIA (01299.HK) +1.2%
PING AN (02318.HK) -0.8%
HKEX (00388.HK) +0.4%
HSI & HSCEI Constituents on Move:
KUAISHOU-W (01024.HK) +9.2%
SUNNY OPTICAL (02382.HK) +4.4%
SHENZHOU INTL (02313.HK) -3.9%
CHINA FEIHE (06186.HK) -3.4%
GALAXY ENT (00027.HK) +3.3%
CNOOC (00883.HK) +3.3%
ANTA SPORTS (02020.HK) +2.3%, hitting new high
HSMI & HSSI Constituents on Move:
PER ENERGY (02798.HK) -13%
SCHOLAR EDU (01769.HK) +10.9%
XTEP INT'L (01368.HK) +9.6%, hitting new high
MICROPORT (00853.HK) +7.9%, hitting new high
AKESO (09926.HK) +5.6%, hitting new high
CHINA RISUN GP (01907.HK) +5.4%, hitting new high
MARKET HOURS NEWS.
Jidu Auto, jointly invested by BIDU-SW (09888.HK) and GEELY AUTO (00175.HK)'s parent, is scheduled to hold a press conference, reported Chinese media. The company's first car will be revealed in the 2022 Beijing International Automotive Exhibition, said Xia Yiping, the CEO of Jidu Auto. He added that the conceptual mass production car shown during the exhibition will look 90% identical to the mass production car with a retail price of over RMB200,000; and optimistically the pre-order could begin within next year.
CHINA MOBILE (00941.HK) signed a strategic alliance framework agreement with General Technology Group, and expressed that the company intends to treat this alliance as the foundation for a long-term strategic partnership, with the goal of fostering development of industries like IT, innovative manufacture, medical health and engineering service through collaboration and innovation. The companies will begin their joint venture on exploring territories like 5G+ intelligent manufacturing, 5G+ smart healthcare and 5G+ smart traffic.
AXA announced their partnership with HKTV (01137.HK) on the introduction of the VHIS "AXA WiseGuard Medical Insurance Plan" on the HKTVmall website. Customers who purchase "AXA WiseGuard Medical Insurance Plan" on HKTVmall can enjoy a 10% discount while HKTVmall VIP members will receive an extra 5% Mall Dollar rebate should they make their purchase on Thursday.
JD HEALTH (06618.HK) and Pfizer China announced their upgraded strategic partnership and the launch of full-cycle management solutions for child inoculation and health. Both sides will join hands to expand the reach of vaccination education and services to the fields of pneumococcal diseases and respiratory health, along with revamped administration throughout the course.
New World First Bus (“NWFB”) and Citybus announced today their collaboration with UnionPay International to provide short-term bus fare discounts for UnionPay Card holders from now until 30 June 2021. Eligible cardholders paying bus fares via UnionPay Transit QR Code in UnionPay App on all franchised routes of NWFB and Citybus can enjoy a 50% instant discount on a single trip per day, with a maximum of HK$10 per transaction for each UnionPay Card during the promotion period.
CATHAY PAC AIR (00293.HK) starts recruiting local pilots this week, marking the first time in around 18 months, South China Morning Post reported. The recruitment commences on Tuesday (1 June) in a bid to maintain the company's market position and put it in a place to welcome recovery in international travel, the airline told its staff. As of last month before job reduction, CATHAY PAC AIR employed approximately 3,150 pilots worldwide, of which approximately 2,600 stationed in Hong Kong.
The Government received over 100,000 opinion pieces from the consultation on the Real-name Registration Programme for SIM cards in early 2021, where a majority of the public supported the introduction of the scheme, said Edward Yau, Secretary for Commerce and Economic Development. The Programme was approved by the Chief Executive in Council today, to be gazetted on 4 June and submitted for the LegCo's negative vetting on 9 June. It shall come into force in phases starting 1 September, expected Yau.
SIM card users should provide telecom operators with personal information (e.g. name, ID card number, date of birth and ID card copies) under the new rule. Each individual user is allowed to sign up for up to ten SIM cards per telecom operator, while each corporate user may register for a maximum of 25 cards.
The Office of the Government Chief Information Officer (OGCIO) announced today (June 1) that a new function has been added to the "LeaveHomeSafe" mobile app, allowing the public to store their COVID-19 vaccination records (electronic vaccination records) or electronic testing records in the app to facilitate easy display of the records when necessary.
As with users' check-in data, the electronic vaccination records saved in the mobile app via the new function will not be uploaded or transferred to the Government or any other systems. All information will only be saved in users' mobile phones. Users can replace or remove the electronic vaccination or testing records from the mobile app anytime.
COUNTRY GARDEN (02007.HK) Co-Chairman Yang Huiyan acquired 19.288 million shares of the Company last Wednesday (May 26), involving nearly $193 million as disclosed by HKEX. Her shareholding in the Company increased from 59.79% to 59.87% afterwards.
Macau's Gross Revenue from Games of Fortune rocketed 492.2% yearly to MOP10.445 billion in May, beating street consensus, announced Gaming Inspection and Coordination Bureau (DICJ). Citigroup had earlier projected the figure at MOP10 billion.
Ho Lat Seng: GD Pandemic Has Considerable Effect on Macau's Tourism Guangzhou suspending partial flight services poses considerable effect on people's trip to Macau, but non-Guangdong travelers can still fly to Macau directly from other cities like Shanghai or Chengdu, said Ho Lat Seng, Chief Executive of Macau, when asked about the influence of Guangdong's pandemic on the recovery of Macau's tourism industry. The Chief Executive reiterates his confidence in the measures against the pandemic implemented by the Guangdong province and believes the crisis will soon be under control.
HENDERSON LAND (00012.HK) has been continuously encouraging employees to receive COVID-19 vaccination by offering a total of 4 days of vaccination leave for each employee, said Martin Lee, Chairman and Managing Director of the group. The group, he continues to state, will also endeavor to encourage vaccination among general citizens through diversified means.
He said he witnessed citizens' confidence in property purchases from the sizzling deals and demand in recent months. He was rather positive on Hong Kong's home market, finding stimulus by governments worldwide and the easing pandemic salubrious to economic revival.
On another note, HENDERSON LAND's continued boost in MIRAMAR HOTEL (00071.HK) shares was a long-term objective. Upbeat on MIRAMAR HOTEL's diversified business, the group will add stakes little by little without urgent needs for acquisition or other actions.
JD-SW (09618.HK) announced that its online supermarket, JD Super, tracked an overall transaction growth of more than 7 times yearly on the first day of "618 Anniversary Sale", i.e. 1 June.
The first quarterly handset shipment of the EMEA market reached 93.06 million units, up 20.9% year-over-year, reflecting a total value of USD31.676 billion, reported IDC. The sales in Europe alone amounted to USD23.196 billion, which was almost a 30% year-over-year increase. IDC expressed that the growth came as less as an surprise as respective areas had been in lockdown during the same period last year. Samsung is crowned champion in the EMEA market in the first quarter with a 32.8% market share, with XIAOMI-W (01810.HK) being the second best performer, recording a 95.8% year-over-year shipment growth, while Apple takes fourth place with a 14.3% market share.
JD-SW (09618.HK) announces the strategic partnership with GSP GROUP (605088.SH), which entails thorough cooperation in corporate digital transformation and upgrade, global storage, transportation and delivery services, auto spare parts industrial chain platform, as well as automated warehouse building.
Furthermore, JD-SW will help GSP GROUP establish a global platform for car component industrial chain leveraging JD LOGISTICS (02618.HK)'s integrated supply chain.
HKT-SS (06823.HK) announced that HKT, Cyberport, Hong Kong Science and Technology Parks Corporation (HKSTP) and a number of local startups have formed the HKT Startup Ecosystem to accelerate digital transformation and smart city developments in Hong Kong to drive Hong Kong forward. HKT will work closely with major startup incubators to foster innovation and collaboration through business matching and knowledge exchange. Eric Chan, Chief Public Mission Officer, Cyberport, said, riding on HKT’s best-in-class fixed and mobile networks, together with the company's comprehensive 5G connectivity, it is able to assist startups in commercializing and productizing their solutions for the market.NeuSoft (600718.SH) plans to spin off Neusoft Medical and Neusoft Xikang for Hong Kong listings this year, likely raising US$600-800 million in aggregate, IFR citing sources. Both firms have filed for listing on the Stock Exchange on Monday.
The first ETF cross-listings in Hong Kong and Shanghai were attributable to the close-knit partnership between HKEX (00388.HK) and SSE, opined HKEX Chief Executive Officer Nicolas Aguzin. Striving to develop Asia's ETF market, HKEX is offering more and more Chinese new economy-themed products, with 1Q21 ADT burgeoning by over 30% from 2020's figure.
CHINA MER PORT (00144.HK) delivered satisfactory 1Q21 results with a sharp double-digit growth, given its low 2020 base amid the pandemic and fading Covid impact on Chinese ports this year, said Deputy General Manager and Executive Director Zheng Shaoping. The group is talks with customers on freight rate hikes, seeing headroom for such increment in 2021. It is now eying potential acquisition projects along countries under the Regional Comprehensive Economic Partnership (RCEP).
Macau Official: Border Resumption with HK Only Possible if HK Has Nil Local Case for Min. 14 Days
HKEX (00388.HK) welcomed the first Exchange Traded Funds
(ETFs) listings in Hong Kong and Shanghai under the new Hong Kong-Mainland ETF Cross-listing Scheme announced in 2020.
HKEX Chief Executive Officer Nicolas Aguzin said the Exchange warmly welcomed these two new ETFs to the market, with one listed on HKEX and another on the Shanghai Stock Exchange (SSE). These listings mark an important step forward in the development of cross-border ETFs, and deepen the collaboration between Hong Kong and Mainland exchanges.
Hang Seng Indexes Company announced that JD LOGISTICS (02618.HK) meets the Fast Entry Rule of various indexes and will be added to the Hang Seng Composite Index, Hang Seng Composite Industry Index – Industrials, Hang Seng Composite LargeCap Index, and Hang Seng Composite LargeCap & MidCap Index after market close on 10 June 2021 (Thursday). All changes will come into effect on 11 June 2021 (Friday).
CFETS announced the USD/CNY central parity rate on Tuesday (1 June) as CNY6.3572 against 1 USD, rose 110 bps daily and reached its over-three-year high since mid-May in 2018.
PRE MARKET HOURS NEWS
MTR CORPORATION (00066.HK) announced that it will give away 500 annual free-ride tickets so as to offer incentives for citizens to receive vaccination. The ticket holder is entitled to limitless ride via local MTR vehicles within a year, excluding Airport Express, MTR Feeder Bus, trip between Lo Wu and Lok Ma Chau and East Rail Line's First Class Fare. The details of which are still under planning.
Macau's Health Bureau announces that, with effect from 00:00 of 1 June 2021, Persons Been to GD, SZ, Maoming to Undergo 14-Day Observation Upon Entry
As of yesterday (31 May), EVERGRANDE and TENCENT formed a strategic alliance to develop a technological property platform that is open to the general public, in hope to accelerate the digitalization of the property industry. The proposed system will utilize TENCENT's advantages in cloud computing, AI and big data and combine them with EVERG SERVICES's offline practical locations and vast user traffic to provide diversified and multi-layered services for its users.
The Covid prevention and control command center for Foshan, Guangdong published a notice on bolstering the administration of people and vehicles exiting the city, reported CCTV. Starting 12am tomorrow (2nd June), travelers leaving Foshan through airports, railway and highway passenger stations (excluding foreign transit passengers) must present their green health codes and negative nucleic acid test results within 72 hours.
Vodafone's Italian wing has obtained conditional approval from the Italian government to utilize Huawei equipment in its 5G network, Reuters citing people close to the matter.
Rome had adopted a hardline stance on the Chinese telecom gear provider over the past 12 months, yet not banning its 5G equipment entirely.
MMG (01208.HK) announced to place 565 million placing shares, at a price of HKD4.15 each which represents a discount of approximately 8.39% to the closing price on the last trading day. The placing shares represent approximately 6.54% of the issued share capital of the company as enlarged by the issue and allotment of the placing shares. The net proceeds from the placing are expected to be approximately HKD2.321 billion. The company intends to apply the net proceeds from the placing for potential future acquisitions or projects; replenishment of working capital and general corporate purposes to support the company's strategy.
XIAOMI-W (01810.HK) switched on the "Xiaomi 618" promotion event at 00:00 today. As at 00:49:52, the company reported jump-start payment amount of over RMB1.5 billion platform-wide. Chairman Lei Jun announced on the social media that the company's Note10 smartphone series delivered sales of over 500,000 units in the first hour of "Xiaomi 618".
JD.com's "JD 618 Festival cum 18th Anniversary Celebration" is officially open today, with GMV of iPhone products exceeding RMB100 million in five seconds and that of Xiaomi phones surpassing RMB100 million in five minutes according to data.
ZHEJIANGEXPRESS (00576.HK) announces that the Company proposes to list the Infrastructure Fund as a public traded infrastructure securities investment fund on the SSE by way of the Proposed Spin-off of Hanghui Co. The Stock Exchange has confirmed that the Company may proceed with the Proposed Spin-off.