In the morning, Trump issued a cooling speech after "threatening to open fire"; a few Fed officials supported the June interest rate hike; Apple and Broadcom reached a chip purchase agreement of more than $30 billion
Trump issued cooling remarks after "threat to open fire"; a few officials from the Federal Reserve supported raising interest rates in June; Apple and Broadcom reached a chip purchase agreement of more than 30 billion US dollars; 6 new stocks including Luxshare Precision, Dingtai High-tech, and Luo Shi Robot were listed today.
Summary: Trump issued cooling remarks after "threat to open fire"; a few officials from the Federal Reserve supported raising interest rates in June; Apple and Broadcom reached a chip purchase agreement of more than 30 billion US dollars; 6 new stocks including Luxshare Precision, Dingtai High-tech, and Luoshi Robot were listed today. On Wednesday Eastern Time, the three major U.S. stock indexes closed with mixed gains. As of the close, the Dow fell 1.09%, the Nasdaq rose 0.20%, and the S&P 500 fell 0.28%. Popular technology stocks had mixed gains and losses. Broadcom rose nearly 5%, Nvidia rose more than 3%, Meta and Tesla fell more than 2%, and Google and Microsoft fell more than 1%. Semiconductor and storage concept stocks rebounded. SanDisk rose by more than 6%, Seagate Technology rose by nearly 4%, Western Digital and NXP rose by more than 3%, and ASML and Micron Technology rose by more than 1%. Computer hardware and oil and gas services sectors were among the top gainers, with AMD rising by more than 7%, Marathon crude oil rising by more than 5%, Quantum rising by more than 4%, and HP and Dell Technologies rising by more than 3%. Precious metals, cryptocurrencies, and travel services were among the top decliners. U.S. Gold Company fell by more than 6%, and American Silver Company, Pan American Silver, Airbnb, and Carnival Cruise Lines fell by more than 3%. The Nasdaq China Golden Dragon Index closed up 2.05%. Popular Chinese concept stocks generally rose. Alibaba rose by more than 11%, iQiyi rose by more than 5%, Baidu and JD.com rose by more than 4%, and Pinduoduo and Bilibili rose by more than 2%. European stock market: All three major European stock indexes fell on July 8. The Financial Times 100-stock average price index of the London stock market closed at 10489.04 points, down 176.84 points or 1.66% from the previous trading day; the CAC40 index of the Paris stock market in France closed at 825 2.66 points, down 183.58 points or 2.18% from the previous trading day; the DAX index in Frankfurt, Germany closed at 24897.45 points, down 567.8 points or 2.23% from the previous trading day. Commodity market: International oil prices rose on July 8. As of the close of the day, the continuous contract of WTI crude oil futures on the New York Mercantile Exchange rose by $4.32 to close at $74.76 per barrel, an increase of 6.13%. The continuous contract of COMEX gold futures for the month fell by US$70.80, or 1.70%, to US$4,086.6 per ounce. The continuous contract of COMEX silver futures for the month fell by US$2.64, or 4.30%, to US$58.69 per ounce. Spot gold fell by $28.18, or 0.69%, to $4,077.52 per ounce. Spot silver fell by $1.67, or 2.78%, to $58.3 per ounce. Trump says Iran called and wanted to make a deal U.S. President Trump told the accompanying media today (July 9) on his way back to the United States on the "Air Force One" special plane, "Iran just called and they are very eager to reach an agreement. But I don't know if they are worthy of reaching an agreement." Trump said, "The United States has won militarily, and Iran has nothing left." When asked, "If Iran is desperate to make a deal, why would it attack commercial ships?" Trump said, "Because they are a little crazy and out of control - but they are very desperate to make a deal." US military launches new round of strikes against Iran The U.S. Central Command stated that under the direction of the U.S. President, the U.S. military has begun further strikes against Iranian targets, aiming to weaken Iran's ability to threaten freedom of navigation in the Strait of Hormuz. The United States stated that Iran has recently carried out "unjustified attacks" on commercial ships and civilian crews sailing in the international waterway, and the United States will pursue relevant responsibilities. Trump threatened to fight again "tonight" and restore the naval blockade, but later "cooled down" The U.S. military confirmed on Wednesday, the 8th, Eastern Time, that it had launched an attack on Iran for the second consecutive day. Earlier in the day, US President Trump issued a new threat to open fire, but soon said that the escalation of tensions would soon subside, as if he first added fuel to the geopolitical situation and then "put out the fire." After the U.S. stock market closed on Wednesday, U.S. Central Command posted on social media that following Trump's instructions, Central Command had begun new strikes against Iran to further weaken Iran's ability to threaten freedom of navigation in the Strait of Hormuz.
The post read that the strike was in response to Iran's recent attacks on commercial ships operating freely in the strait, saying the United States would hold it accountable. Then, according to CCTV, Iran's Noor News quoted a military source as saying that the Iranian Armed Forces' missile force and drone force will launch a large-scale attack on US military bases in the Middle East "in the next few minutes." CCTV learned that multiple explosions were heard from Bushehr in southern Iran, and the local air defense system was intercepting air targets. Subsequently, explosions were also heard from Abu Musa Island and other places in the Persian Gulf. Coastal defense systems near Bandar Abbas Port, Qeshm Island and other places in Iran are responding to attacks launched by the US military. Minutes of the Federal Reserve's June meeting: All officials support keeping interest rates unchanged in June Minutes of the Federal Reserve's June meeting showed that officials supported keeping the current interest rate target range unchanged. Some officials believe that raising interest rates is necessary, but expressed support for maintaining the current interest rate range at this meeting. A few participants believed that there was reason to raise interest rates at the June FOMC meeting. Most officials noted that inflation will likely remain high due to artificial intelligence-related demand, conflicts in the Middle East and tariffs. Inflation has risen further and remains well above the Committee's long-term target of 2%. They observed increases in both core and headline inflation. In this case, almost all participants indicated that some policy tightening measures may be needed. Fed Chairman Warsh will appear before the Senate Banking Committee hearing on July 15 Federal Reserve Chairman Kevin Warsh will attend a Senate Banking Committee hearing at 10:00 EST (22:00 Beijing time) on July 15 (next Wednesday). The committee released the above news on its official website. The committee said the hearing will focus on the Federal Reserve's semi-annual monetary policy report to Congress and will be broadcast live online. U.S. 10-year Treasury bond yield hits new high since 2025 The U.S. Treasury Department’s bid to issue $39 billion of 10-year Treasury bonds yielded 4.580%, the highest level since February 2025. The pre-issuance yield when bidding closed at 1 pm New York time was 4.586%. Tender results showed demand slightly exceeded expectations. The 10-year yield rose about 3 basis points on the day when bidding closed. After the results were announced, Treasury bonds slightly recovered the day's losses, and the yield curve remained slightly flat. Primary dealers were allocated 7.8%, the lowest level since January; indirect bidders were allocated 81.5%, and direct bidders were allocated 10.7%. The bid multiple was 2.59 times, the highest this year, and the average of the past six renewals was 2.51 times. SK Hynix’s U.S. IPO is reportedly oversubscribed by more than seven times Some media quoted people familiar with the matter as saying that the U.S. IPO of SK Hynix (000660.KR) was oversubscribed by more than seven times. The South Korean memory chip maker plans to set prices on Thursday. Some people familiar with the matter said that the issuance of 177.9 million American depositary receipts (ADRs) attracted subscriptions from global long funds, funds focusing on technology fields, sovereign wealth funds, and global investors focusing on Asian markets. According to SK Hynix's (SKHY.US) previous filings with the U.S. Securities and Exchange Commission, each ADR represents one-tenth of one common share. Based on the closing price of the company's South Korean-listed shares on Wednesday at 2.076 million won ($1,380) per share, the U.S. IPO financing size is approximately $24.5 billion. People familiar with the matter said that relevant negotiations are still ongoing and the details of the U.S. listing plan may be adjusted. A spokesman for SK hynix declined to comment. NVIDIA rose nearly 4% on the previous trading day, and its forward price-to-earnings ratio dropped to 18 times The current stock price of NVIDIA (NVDA.US) corresponds to a price-to-earnings ratio of approximately 18 times the expected earnings for the next 12 months, which is the lowest level since the beginning of 2019. This figure is not only lower than the S&P 500 Index's forward price-to-earnings ratio of more than 20 times, but also lower than the nearly 23 times valuation of the Nasdaq 100 Index. The hottest stocks on Wall Street in the past are now "cheaper" than the broader market.
It is worth noting that this round of valuation compression is not due to deterioration in fundamentals. Wall Street analysts continue to raise Nvidia's profit forecasts for the next few quarters, and the dominance of GPUs in the AI data center market has not been shaken. The divergence between stock prices and fundamentals reveals the structural migration of AI trading logic and the rebalancing process of market sentiment from focusing on a single target to a broader semiconductor track. After winning Apple's huge chip order, Broadcom rose nearly 5% in the previous trading day Apple (AAPL.US) announced a new multi-year cooperation agreement with Broadcom (AVGO.US). Broadcom will design and produce customized chip components and cutting-edge wireless connection technology for Apple. The related projects are expected to be worth more than 30 billion US dollars, and are expected to produce more than 15 billion American-made chips and create hundreds of jobs in the United States. Intel server CPUs are in short supply, Wedbush said: Intel's price increase will not affect demand Intel (INTC.US) confirmed it was raising prices for some consumer and server CPUs, citing rising supply chain costs and demand outpacing supply. The prices for consumer-grade processors range from $30 to $50, while data center-grade products go up to hundreds or even thousands of dollars. Investment bank Wedbush believes that Intel still has the ability to implement price increases without affecting market demand. "Given the continued shortage of server CPU supplies, we believe Intel still has room to raise prices without impacting demand," Wedbush analyst Matt Bryson wrote in a note to clients. It is reported that TSMC has significantly expanded PIC production capacity and is expected to reach 25,000 pieces per month in 2028. According to the Taiwan Business Times, institutions predict that TSMC (TSM.US) photonic integrated circuit (PIC) production capacity will usher in a rapid increase. TSMC's production capacity will increase from the current level of about 500 pieces per month to 10,000 pieces per month in the second quarter of 2026, and will further increase to 15,000 pieces per month in the fourth quarter, and is expected to increase to at least 25,000 pieces per month in 2028. The agency estimates that if each wafer contains 648 dies, after TSMC's monthly PIC production capacity increases from 500 to 10,000 dies, its annual output will significantly increase from approximately 4 million to 78 million. If the production capacity further reaches 25,000 pieces per month, the annual PIC output is expected to reach 194 million pieces. Alibaba Cloud AI commercialization is accelerating, and Alibaba is facing the moment of repairing the expected gap Alibaba's (BABA.US) financial outlook for the first quarter of fiscal year 2027 shows that the overall e-commerce business (China e-commerce + AIDC) has stable profits and resumed growth. Taobao's flash sales reduced losses faster than market expectations, narrowed the gap with competitor UE, and maintained stable market share during the process of reducing subsidies. The focus of Taobao's flash sales has shifted to catering and non-meal orders with high customer unit prices, and UE is expected to continue to improve. UBS analysts pointed out that Alibaba’s progress in optimizing instant business subsidies was faster than expected, and judged that the market will refocus on Alibaba’s valuable AI assets and AI growth logic. Meta announces it will build a C$13 billion (approximately US$9.17 billion) data center in Alberta, Canada Meta Platforms (META.US) announced that it will build a data center worth 13 billion Canadian dollars (approximately US$9.17 billion) in Alberta, Canada. The data center is located in Sturgeon County, Alberta, with an installed capacity of 1 gigawatt. It will be the first data center built by the company in Canada. SpaceXAI and Cursor jointly release Grok AI model, focusing on legal and financial tasks SpaceXAI has released a new artificial intelligence model called Grok 4.5, built in partnership with AI programming startup Cursor, aiming to close the gap with competitors such as Anthropic PBC and OpenAI. Grok 4.5 is designed to handle complex, long-running tasks including software engineering, legal and financial services, and has enhanced cybersecurity capabilities.
The new model is designed to "handle complex and time-consuming tasks," including areas of software engineering focused on by many top AI developers. But unlike Cursor's previous model, Grok 4.5 is designed to address a wider portfolio of work, such as legal and financial services. The blog post also notes that Grok 4.5 has enhanced cybersecurity capabilities. Fuel cell leader Bloom Energy fell nearly 6% in the previous trading day and was questioned by short-selling institutions. Short-selling agency Hunterbrook has questioned the supply chain and production capacity of material battery leader Bloom Energy (BE.US). Short sellers said that in order to meet market expectations for its 5 GW production capacity, Bloom Energy alone would need about 220 tons of scandium oxide, but the total annual supply of scandium oxide in the world is only 240 tons. The report also cast doubt on Bloom Energy's revenue growth, saying the majority of the company's revenue comes from joint ventures it co-owns with Brockfield. At the same time, the company's main customer, Oracle's Jupiter project in New Mexico, has not yet obtained a license for fuel cell use, and the deployment time of American Electric Power's fuel cell order worth US$2.65 billion seems to have been postponed from 2028 to "no later than 2030." Southbound Fund Tracking｜Net buying of nearly 14.2 billion Hong Kong dollars, massive increase in positions in Zhipu and Alibaba’s outflow from Xiaomi Group Data show that the transaction volume of southbound funds yesterday was approximately HK$158.734 billion, a significant increase of approximately HK$29.3 billion from the previous day; approximately 42.23% of the total transaction volume of the Hang Seng Index, accounting for more than 40%. Hong Kong stocks rebounded violently yesterday, with the Hang Seng Index rising nearly 3%. Southbound funds’ net purchases were approximately HK$14.2 billion. Among them, the net inflow of Shanghai-Hong Kong Stock Connect was approximately HK$7.030 billion, while the net inflow of Shenzhen-Hong Kong Stock Connect was approximately HK$7.164 billion. In terms of individual stocks, exchange data showed that southbound funds yesterday Substantial net purchases: Zhipu (02513.HK) HK$4.330 billion; Alibaba-W (09988.HK) HK$3.982 billion; Tencent Holdings (00700.HK) HK$2.509 billion; Kingboard Group (00148.HK) HK$226 million. Significant net outflows: Xiaomi Group-W (01810.HK) HK$700 million; YOFC Optical Fiber and Cable (06869.HK) HK$500 million; Kingboard Laminated Board (01888.HK) HK$223 million. Zhipu rose 13.35% yesterday, with funds adding 730,000 shares in the first five days, maintaining short-term inflows. Alibaba-W rose 12.21% yesterday. The funds reduced their holdings by 8.04 million shares in the first five days, but have continued to return in the past two days. Tencent Holdings rose 3.82% yesterday, with funds adding 4.78 million shares in the first five days, accelerating the short-term return. Kingboard Group fell 12.23% yesterday. Funds added 4.25 million shares in the first five days, and short-term inflows slowed down. Kingboard Laminated Board fell 4.64% yesterday, with funds adding 10.23 million shares in the past 5 days, and short-term inflows slowed down. YOFC Optical Fiber and Cable fell 3.98% yesterday. Funds reduced their holdings by 1.34 million shares in the past 5 days, resulting in continuous short-term outflows. Xiaomi Group-W rose 9.52% yesterday. Funds reduced their holdings by 36.96 million shares in the past 5 days, and short-term outflows are still the main trend. Note: Due to the T+2 settlement of the Hong Kong Stock Exchange, the actual positions are the data of the last 5 trading days as of two trading days ago. Zhipu (02513): It plans to place new H shares at a placement price of HK$1,588, a discount of approximately 12.99% to the closing price on July 8. The total proceeds are expected to be approximately HK$31.41 billion. The announcement stated that the board of directors believes that the introduction of additional funds through the placement will help further enhance the company's capital strength and support the company's continued advancement of base model research and development, technological innovation, commercialization and ecological construction. Jiangxi Copper Industry Co., Ltd. (00358): Issued a positive profit report. The mid-term net profit attributable to the parent company is expected to be 7.55 billion to 8.500 billion yuan, a year-on-year increase of 80.86% to 103.61%. CICC (03908.): It is expected that the net profit attributable to shareholders of the parent company in the first half of 2026 will be RMB 7.708 billion to RMB 8.227 billion, a year-on-year increase of 78% to 90%.
C&D International Group (01908): The cumulative equity contract sales amount in the first half of the year was approximately 48.87 billion yuan, a year-on-year decrease of approximately 8.4%. (
The post read that the strike was in response to Iran's recent attacks on commercial ships operating freely in the strait, saying the United States would hold it accountable. Then, according to CCTV, Iran's Noor News quoted a military source as saying that the Iranian Armed Forces' missile force and drone force will launch a large-scale attack on US military bases in the Middle East "in the next few minutes." CCTV learned that multiple explosions were heard from Bushehr in southern Iran, and the local air defense system was intercepting air targets. Subsequently, explosions were also heard from Abu Musa Island and other places in the Persian Gulf. Coastal defense systems near Bandar Abbas Port, Qeshm Island and other places in Iran are responding to attacks launched by the US military. Minutes of the Federal Reserve's June meeting: All officials support keeping interest rates unchanged in June Minutes of the Federal Reserve's June meeting showed that officials supported keeping the current interest rate target range unchanged. Some officials believe that raising interest rates is necessary, but expressed support for maintaining the current interest rate range at this meeting. A few participants believed that there was reason to raise interest rates at the June FOMC meeting. Most officials noted that inflation will likely remain high due to artificial intelligence-related demand, conflicts in the Middle East and tariffs. Inflation has risen further and remains well above the Committee's long-term target of 2%. They observed increases in both core and headline inflation. In this case, almost all participants indicated that some policy tightening measures may be needed. Fed Chairman Warsh will appear before the Senate Banking Committee hearing on July 15 Federal Reserve Chairman Kevin Warsh will attend a Senate Banking Committee hearing at 10:00 EST (22:00 Beijing time) on July 15 (next Wednesday). The committee released the above news on its official website. The committee said the hearing will focus on the Federal Reserve's semi-annual monetary policy report to Congress and will be broadcast live online. U.S. 10-year Treasury bond yield hits new high since 2025 The U.S. Treasury Department’s bid to issue $39 billion of 10-year Treasury bonds yielded 4.580%, the highest level since February 2025. The pre-issuance yield when bidding closed at 1 pm New York time was 4.586%. Tender results showed demand slightly exceeded expectations. The 10-year yield rose about 3 basis points on the day when bidding closed. After the results were announced, Treasury bonds slightly recovered the day's losses, and the yield curve remained slightly flat. Primary dealers were allocated 7.8%, the lowest level since January; indirect bidders were allocated 81.5%, and direct bidders were allocated 10.7%. The bid multiple was 2.59 times, the highest this year, and the average of the past six renewals was 2.51 times. SK Hynix’s U.S. IPO is reportedly oversubscribed by more than seven times Some media quoted people familiar with the matter as saying that the U.S. IPO of SK Hynix (000660.KR) was oversubscribed by more than seven times. The South Korean memory chip maker plans to set prices on Thursday. Some people familiar with the matter said that the issuance of 177.9 million American depositary receipts (ADRs) attracted subscriptions from global long funds, funds focusing on technology fields, sovereign wealth funds, and global investors focusing on Asian markets. According to SK Hynix's (SKHY.US) previous filings with the U.S. Securities and Exchange Commission, each ADR represents one-tenth of one common share. Based on the closing price of the company's South Korean-listed shares on Wednesday at 2.076 million won ($1,380) per share, the U.S. IPO financing size is approximately $24.5 billion. People familiar with the matter said that relevant negotiations are still ongoing and the details of the U.S. listing plan may be adjusted. A spokesman for SK hynix declined to comment. NVIDIA rose nearly 4% on the previous trading day, and its forward price-to-earnings ratio dropped to 18 times The current stock price of NVIDIA (NVDA.US) corresponds to a price-to-earnings ratio of approximately 18 times the expected earnings for the next 12 months, which is the lowest level since the beginning of 2019. This figure is not only lower than the S&P 500 Index's forward price-to-earnings ratio of more than 20 times, but also lower than the nearly 23 times valuation of the Nasdaq 100 Index. The hottest stocks on Wall Street in the past are now "cheaper" than the broader market.
It is worth noting that this round of valuation compression is not due to deterioration in fundamentals. Wall Street analysts continue to raise Nvidia's profit forecasts for the next few quarters, and the dominance of GPUs in the AI data center market has not been shaken. The divergence between stock prices and fundamentals reveals the structural migration of AI trading logic and the rebalancing process of market sentiment from focusing on a single target to a broader semiconductor track. After winning Apple's huge chip order, Broadcom rose nearly 5% in the previous trading day Apple (AAPL.US) announced a new multi-year cooperation agreement with Broadcom (AVGO.US). Broadcom will design and produce customized chip components and cutting-edge wireless connection technology for Apple. The related projects are expected to be worth more than 30 billion US dollars, and are expected to produce more than 15 billion American-made chips and create hundreds of jobs in the United States. Intel server CPUs are in short supply, Wedbush said: Intel's price increase will not affect demand Intel (INTC.US) confirmed it was raising prices for some consumer and server CPUs, citing rising supply chain costs and demand outpacing supply. The prices for consumer-grade processors range from $30 to $50, while data center-grade products go up to hundreds or even thousands of dollars. Investment bank Wedbush believes that Intel still has the ability to implement price increases without affecting market demand. "Given the continued shortage of server CPU supplies, we believe Intel still has room to raise prices without impacting demand," Wedbush analyst Matt Bryson wrote in a note to clients. It is reported that TSMC has significantly expanded PIC production capacity and is expected to reach 25,000 pieces per month in 2028. According to the Taiwan Business Times, institutions predict that TSMC (TSM.US) photonic integrated circuit (PIC) production capacity will usher in a rapid increase. TSMC's production capacity will increase from the current level of about 500 pieces per month to 10,000 pieces per month in the second quarter of 2026, and will further increase to 15,000 pieces per month in the fourth quarter, and is expected to increase to at least 25,000 pieces per month in 2028. The agency estimates that if each wafer contains 648 dies, after TSMC's monthly PIC production capacity increases from 500 to 10,000 dies, its annual output will significantly increase from approximately 4 million to 78 million. If the production capacity further reaches 25,000 pieces per month, the annual PIC output is expected to reach 194 million pieces. Alibaba Cloud AI commercialization is accelerating, and Alibaba is facing the moment of repairing the expected gap Alibaba's (BABA.US) financial outlook for the first quarter of fiscal year 2027 shows that the overall e-commerce business (China e-commerce + AIDC) has stable profits and resumed growth. Taobao's flash sales reduced losses faster than market expectations, narrowed the gap with competitor UE, and maintained stable market share during the process of reducing subsidies. The focus of Taobao's flash sales has shifted to catering and non-meal orders with high customer unit prices, and UE is expected to continue to improve. UBS analysts pointed out that Alibaba’s progress in optimizing instant business subsidies was faster than expected, and judged that the market will refocus on Alibaba’s valuable AI assets and AI growth logic. Meta announces it will build a C$13 billion (approximately US$9.17 billion) data center in Alberta, Canada Meta Platforms (META.US) announced that it will build a data center worth 13 billion Canadian dollars (approximately US$9.17 billion) in Alberta, Canada. The data center is located in Sturgeon County, Alberta, with an installed capacity of 1 gigawatt. It will be the first data center built by the company in Canada. SpaceXAI and Cursor jointly release Grok AI model, focusing on legal and financial tasks SpaceXAI has released a new artificial intelligence model called Grok 4.5, built in partnership with AI programming startup Cursor, aiming to close the gap with competitors such as Anthropic PBC and OpenAI. Grok 4.5 is designed to handle complex, long-running tasks including software engineering, legal and financial services, and has enhanced cybersecurity capabilities.
The new model is designed to "handle complex and time-consuming tasks," including areas of software engineering focused on by many top AI developers. But unlike Cursor's previous model, Grok 4.5 is designed to address a wider portfolio of work, such as legal and financial services. The blog post also notes that Grok 4.5 has enhanced cybersecurity capabilities. Fuel cell leader Bloom Energy fell nearly 6% in the previous trading day and was questioned by short-selling institutions. Short-selling agency Hunterbrook has questioned the supply chain and production capacity of material battery leader Bloom Energy (BE.US). Short sellers said that in order to meet market expectations for its 5 GW production capacity, Bloom Energy alone would need about 220 tons of scandium oxide, but the total annual supply of scandium oxide in the world is only 240 tons. The report also cast doubt on Bloom Energy's revenue growth, saying the majority of the company's revenue comes from joint ventures it co-owns with Brockfield. At the same time, the company's main customer, Oracle's Jupiter project in New Mexico, has not yet obtained a license for fuel cell use, and the deployment time of American Electric Power's fuel cell order worth US$2.65 billion seems to have been postponed from 2028 to "no later than 2030." Southbound Fund Tracking｜Net buying of nearly 14.2 billion Hong Kong dollars, massive increase in positions in Zhipu and Alibaba’s outflow from Xiaomi Group Data show that the transaction volume of southbound funds yesterday was approximately HK$158.734 billion, a significant increase of approximately HK$29.3 billion from the previous day; approximately 42.23% of the total transaction volume of the Hang Seng Index, accounting for more than 40%. Hong Kong stocks rebounded violently yesterday, with the Hang Seng Index rising nearly 3%. Southbound funds’ net purchases were approximately HK$14.2 billion. Among them, the net inflow of Shanghai-Hong Kong Stock Connect was approximately HK$7.030 billion, while the net inflow of Shenzhen-Hong Kong Stock Connect was approximately HK$7.164 billion. In terms of individual stocks, exchange data showed that southbound funds yesterday Substantial net purchases: Zhipu (02513.HK) HK$4.330 billion; Alibaba-W (09988.HK) HK$3.982 billion; Tencent Holdings (00700.HK) HK$2.509 billion; Kingboard Group (00148.HK) HK$226 million. Significant net outflows: Xiaomi Group-W (01810.HK) HK$700 million; YOFC Optical Fiber and Cable (06869.HK) HK$500 million; Kingboard Laminated Board (01888.HK) HK$223 million. Zhipu rose 13.35% yesterday, with funds adding 730,000 shares in the first five days, maintaining short-term inflows. Alibaba-W rose 12.21% yesterday. The funds reduced their holdings by 8.04 million shares in the first five days, but have continued to return in the past two days. Tencent Holdings rose 3.82% yesterday, with funds adding 4.78 million shares in the first five days, accelerating the short-term return. Kingboard Group fell 12.23% yesterday. Funds added 4.25 million shares in the first five days, and short-term inflows slowed down. Kingboard Laminated Board fell 4.64% yesterday, with funds adding 10.23 million shares in the past 5 days, and short-term inflows slowed down. YOFC Optical Fiber and Cable fell 3.98% yesterday. Funds reduced their holdings by 1.34 million shares in the past 5 days, resulting in continuous short-term outflows. Xiaomi Group-W rose 9.52% yesterday. Funds reduced their holdings by 36.96 million shares in the past 5 days, and short-term outflows are still the main trend. Note: Due to the T+2 settlement of the Hong Kong Stock Exchange, the actual positions are the data of the last 5 trading days as of two trading days ago. Zhipu (02513): It plans to place new H shares at a placement price of HK$1,588, a discount of approximately 12.99% to the closing price on July 8. The total proceeds are expected to be approximately HK$31.41 billion. The announcement stated that the board of directors believes that the introduction of additional funds through the placement will help further enhance the company's capital strength and support the company's continued advancement of base model research and development, technological innovation, commercialization and ecological construction. Jiangxi Copper Industry Co., Ltd. (00358): Issued a positive profit report. The mid-term net profit attributable to the parent company is expected to be 7.55 billion to 8.500 billion yuan, a year-on-year increase of 80.86% to 103.61%. CICC (03908.): It is expected that the net profit attributable to shareholders of the parent company in the first half of 2026 will be RMB 7.708 billion to RMB 8.227 billion, a year-on-year increase of 78% to 90%.
C&D International Group (01908): The cumulative equity contract sales amount in the first half of the year was approximately 48.87 billion yuan, a year-on-year decrease of approximately 8.4%. (