OASES Enterprises Signing Ceremony: The Office for Attracting Strategic Enterprises (OASES) announced the fifth batch of 18 strategic companies, including notable pharma firms like GSK, Roche, and Merck, as well as cultural and creative enterprises like Rednote and VOBILE GROUP.

Impact on Hong Kong's Economy: Financial Secretary Paul Chan highlighted that the new companies have brought over $60 billion in investments and created approximately 22,000 jobs, enhancing Hong Kong's innovation technology ecosystem and positioning it as a key player in the global digital entertainment market.

Convertible Bonds Issuance: Vobile Group announced a plan to issue HKD1.6 billion zero-coupon convertible bonds due in 2026, with an initial conversion price set at HKD5.87 per share, representing a 15.1% premium over the previous closing price.

Share Capital Impact: The bonds can be converted into approximately 273 million shares, which would account for about 9.84% of the enlarged share capital, with net proceeds from the issuance estimated at around HKD1.566 billion.

Market Performance: The Hang Seng Index (HSI) fell by 222 points (0.9%) to 24,858, with significant declines in other indices and a total market turnover of $206.72 billion.

Active Stocks: Notable stock movements included SMIC dropping 8.2%, WHARF REIC down 8.1%, and CSPC PHARMA rising 6%. Short selling ratios were high for several stocks, indicating increased trading activity.

Market Performance: The HSI dropped 165 points (0.7%) to 24,916, while the HSTI and HSCEI also saw declines of 1.0% and 0.6%, respectively. Major stocks like BABA, TENCENT, and XIAOMI experienced slight decreases in their closing prices.

Notable Stock Movements: WHARF REIC fell significantly by 9%, while CSPC PHARMA rose by 6.1%. Other notable movements included VOBILE GROUP increasing by 16.2% and HUTCHMED declining by 15.3%.