GUOTAI JUNAN Drops Nearly 5% as CSRC Reportedly Asks Brokers to Halt RWA Tokenization Business in Hong Kong
CSRC's Advisory: The China Securities Regulatory Commission has advised local brokers to halt their real-world asset tokenization business in Hong Kong due to concerns over the offshore digital asset market.
Market Performance: Several Hong Kong stocks, including GUOTAI JUNAN, CITIC SEC, and CGS, experienced declines in their share prices and significant short selling activity.
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GUOTAI JUNAN I Anticipates Last Year's Net Profit to Soar Up to 2.93 Times Year-on-Year
Company Overview: Guotai Junan I (01788.HK) has issued a positive profit alert, indicating a significant increase in net profit for the last year.
Profit Forecast: The company anticipates a net profit surge of 265-293%, projecting figures between HKD 1.28 billion and HKD 1.38 billion, compared to around HKD 351 million in 2024.
<Research>BOCI Publishes Year-to-Date List of Actively-Traded Stocks for Mainland-HK Southbound Link (Table)
Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with BABA-W and SMIC experiencing notable gains, while TENCENT and CHINA MOBILE faced declines.
Short Selling Activity: Significant short selling was observed across multiple stocks, with MEITUAN-W and LI AUTO-W having the highest short selling ratios, indicating investor skepticism.
Market Capitalization Changes: Companies like INNOVENT BIO and GUOTAI JUNAN I reported substantial increases in market capitalization, reflecting strong investor interest.
Future Projections: CLSA predicts TENCENT's revenue growth of 14% year-over-year for Q3, with an expected 21% surge in adjusted EBIT, suggesting positive outlooks for major players in the market.
<Daily Summary> HSI Ends at 25,952, Dropping 205 Points; HSTI Finishes at 5,818, Down 104 Points; ZIJIN MINING Falls More Than 5%; SHK PPT, CK ASSET, MINTH GROUP, SINOTRUK, KINETIC DEV Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) fell by 205 points (0.8%) to 25,952, while the Hang Seng Tech Index (HSTI) dropped 104 points (1.8%) to 5,818, and the Hang Seng China Enterprises Index (HSCEI) decreased by 85 points (0.9%) to 9,173, with a total market turnover of $239.99 billion.
Active Heavyweights: Notable declines were seen in major stocks such as Xiaomi (-2.9%), Alibaba (-2.6%), and Meituan (-2.3%), while China Construction Bank and Ping An experienced slight gains of 1.4% and 0.4%, respectively.
Significant Declines: Among HSI and HSCEI constituents, Zijin Mining fell by 5.4%, Sunny Optical by 4.6%, and Pop Mart by 4.1%, indicating a trend of short selling in these stocks.
Gainers in the Market: Stocks like Minth Group and Sinotruk saw increases of 6.0% and 2.8%, respectively, with both hitting new highs, contrasting with the overall market downturn.
Midday Update: HSI Ends at 26,209, Gaining 51 Points; HSTI at 5,910, Dropping 12 Points; BIDU-SW Rises Over 6%; PETROCHINA, SHK PPT, CNOOC, CK ASSET, AIA Reach New Peaks
Market Performance: The HSI rose by 51 points (0.2%) to 26,209, while the HSTI fell by 12 points (0.2%) to 5,910, and the HSCEI increased by 19 points (0.2%) to 9,277.
Active Heavyweights: Notable movements included Xiaomi down 2% to $43.84, Ping An up 1.8% to $57.55, and Tencent up 1.7% to $638.5, with significant short selling activity across these stocks.
Constituents on the Move: Baidu-SW surged by 6.5% to $126.2, while Zijin Mining and Pop Mart saw declines of 4.2% and 3.9%, respectively, with high short selling ratios for several stocks.
New Highs: Several stocks, including PetroChina, SHK PPT, and CNOOC, reached new highs, with respective increases of 2.5%, 1.7%, and 1.3%.
BRIGHT SMART and YUNFENG FIN Drop 4-5% as Ant Group and JD Allegedly Halt HK Stablecoin Initiatives
Market Performance: The HSI surged by 637 points (2.5%) to 25,884 at the open, later stabilizing at 25,744 with a turnover of HKD62.23 billion, driven by strong performances from major tech stocks like JD-SW and BABA-W.
Stablecoin Regulatory Concerns: Chinese tech giants, including Ant Group and JD-SW, have halted plans to issue stablecoins in Hong Kong due to regulatory concerns from China regarding private sector-controlled stablecoins, impacting related stocks negatively.
GUOTAI JUNAN Drops Nearly 5% as CSRC Reportedly Asks Brokers to Halt RWA Tokenization Business in Hong Kong
CSRC's Advisory: The China Securities Regulatory Commission has advised local brokers to halt their real-world asset tokenization business in Hong Kong due to concerns over the offshore digital asset market.
Market Performance: Several Hong Kong stocks, including GUOTAI JUNAN, CITIC SEC, and CGS, experienced declines in their share prices and significant short selling activity.
GUOTAI JUNAN I Anticipates Last Year's Net Profit to Soar Up to 2.93 Times Year-on-Year
Company Overview: Guotai Junan I (01788.HK) has issued a positive profit alert, indicating a significant increase in net profit for the last year.
Profit Forecast: The company anticipates a net profit surge of 265-293%, projecting figures between HKD 1.28 billion and HKD 1.38 billion, compared to around HKD 351 million in 2024.
<Research>BOCI Publishes Year-to-Date List of Actively-Traded Stocks for Mainland-HK Southbound Link (Table)
Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with BABA-W and SMIC experiencing notable gains, while TENCENT and CHINA MOBILE faced declines.
Short Selling Activity: Significant short selling was observed across multiple stocks, with MEITUAN-W and LI AUTO-W having the highest short selling ratios, indicating investor skepticism.
Market Capitalization Changes: Companies like INNOVENT BIO and GUOTAI JUNAN I reported substantial increases in market capitalization, reflecting strong investor interest.
Future Projections: CLSA predicts TENCENT's revenue growth of 14% year-over-year for Q3, with an expected 21% surge in adjusted EBIT, suggesting positive outlooks for major players in the market.
<Daily Summary> HSI Ends at 25,952, Dropping 205 Points; HSTI Finishes at 5,818, Down 104 Points; ZIJIN MINING Falls More Than 5%; SHK PPT, CK ASSET, MINTH GROUP, SINOTRUK, KINETIC DEV Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) fell by 205 points (0.8%) to 25,952, while the Hang Seng Tech Index (HSTI) dropped 104 points (1.8%) to 5,818, and the Hang Seng China Enterprises Index (HSCEI) decreased by 85 points (0.9%) to 9,173, with a total market turnover of $239.99 billion.
Active Heavyweights: Notable declines were seen in major stocks such as Xiaomi (-2.9%), Alibaba (-2.6%), and Meituan (-2.3%), while China Construction Bank and Ping An experienced slight gains of 1.4% and 0.4%, respectively.
Significant Declines: Among HSI and HSCEI constituents, Zijin Mining fell by 5.4%, Sunny Optical by 4.6%, and Pop Mart by 4.1%, indicating a trend of short selling in these stocks.
Gainers in the Market: Stocks like Minth Group and Sinotruk saw increases of 6.0% and 2.8%, respectively, with both hitting new highs, contrasting with the overall market downturn.
Midday Update: HSI Ends at 26,209, Gaining 51 Points; HSTI at 5,910, Dropping 12 Points; BIDU-SW Rises Over 6%; PETROCHINA, SHK PPT, CNOOC, CK ASSET, AIA Reach New Peaks
Market Performance: The HSI rose by 51 points (0.2%) to 26,209, while the HSTI fell by 12 points (0.2%) to 5,910, and the HSCEI increased by 19 points (0.2%) to 9,277.
Active Heavyweights: Notable movements included Xiaomi down 2% to $43.84, Ping An up 1.8% to $57.55, and Tencent up 1.7% to $638.5, with significant short selling activity across these stocks.
Constituents on the Move: Baidu-SW surged by 6.5% to $126.2, while Zijin Mining and Pop Mart saw declines of 4.2% and 3.9%, respectively, with high short selling ratios for several stocks.
New Highs: Several stocks, including PetroChina, SHK PPT, and CNOOC, reached new highs, with respective increases of 2.5%, 1.7%, and 1.3%.
BRIGHT SMART and YUNFENG FIN Drop 4-5% as Ant Group and JD Allegedly Halt HK Stablecoin Initiatives
Market Performance: The HSI surged by 637 points (2.5%) to 25,884 at the open, later stabilizing at 25,744 with a turnover of HKD62.23 billion, driven by strong performances from major tech stocks like JD-SW and BABA-W.
Stablecoin Regulatory Concerns: Chinese tech giants, including Ant Group and JD-SW, have halted plans to issue stablecoins in Hong Kong due to regulatory concerns from China regarding private sector-controlled stablecoins, impacting related stocks negatively.
GUOTAI JUNAN Drops Nearly 5% as CSRC Reportedly Asks Brokers to Halt RWA Tokenization Business in Hong Kong
CSRC's Advisory: The China Securities Regulatory Commission has advised local brokers to halt their real-world asset tokenization business in Hong Kong due to concerns over the offshore digital asset market.
Market Performance: Several Hong Kong stocks, including GUOTAI JUNAN, CITIC SEC, and CGS, experienced declines in their share prices and significant short selling activity.
