① The chairman of the Hong Kong Securities and Futures Commission stated that the securities regulators of both regions are considering comprehensively optimizing the Shanghai-Hong Kong Stock Connect. ② New China Life Insurance plans to subscribe for shares in private equity funds not exceeding 15 billion yuan. ③ In the first half of the year, the fundraising amount for Hong Kong IPOs surged 711% year-on-year. ④ The United States announced tariffs on steel household appliances.
Hot topics focus.
1. A CCTV reporter learned on June 12 local time that the U.S. Department of Commerce announced that it would impose tariffs on various steel household appliances starting June 23, including "steel derivative products" such as dishwashers, washing machines, and refrigerators. It is reported that imposing a 50% tariff on most countries will affect imports of these steel products and may lead to rising consumer prices, with industry stakeholders closely monitoring the developments.
2. At the annual meeting of the Asian Traders Forum and the Stocks Trading Summit 2025, the chairman of the Hong Kong Securities and Futures Commission, Huang Tianyou, stated that they are researching adjustments to the number of shares per lot in order to enhance the convenience of trading high stock prices and odd lots, further improving market liquidity. Additionally, both securities regulators are considering comprehensive optimization measures, planning to include more products such as Hong Kong stocks RMB counter, Real Estate Investment Trusts, and ETFs in the Shanghai-Hong Kong Stock Connect.
3. A report released by Ernst & Young on June 12, 2025, titled "China Mainland and Hong Kong IPO Market" indicated that the activity of Hong Kong IPOs has significantly increased, with the number of IPOs and fundraising amounts rising by 33% and 711% year-on-year respectively, driven by large IPOs that pushed the Hong Kong Stock Exchange's fundraising scale to the top globally. The report forecasts that with the increasing enthusiasm of A-share companies to list in Hong Kong, the launch of the 'Star' line for technology enterprises, and the warming of the return of Chinese concept stocks, the enthusiasm in the Hong Kong IPO market will continue to rise.
4. Regarding the news that Ant International will apply for a stablecoin license in Hong Kong and Singapore, Ant International responded to the Science and Technology Innovation Board Daily, stating that they welcome the Hong Kong Legislative Council's passage of the "Stablecoin Ordinance draft," which will come into effect on August 1, and will submit the application as soon as the relevant channels open.
Global markets.
On Thursday, U.S. stocks opened lower but rose during the trading session, with all three major indexes collectively rising. By the close, the Dow Jones Industrial Average rose 0.24%, the S&P 500 Index rose 0.38%, both hitting a closing high not seen in at least three months. The Nasdaq Composite Index rose 0.24%.
Large technology stocks had mixed results, with Microsoft up 1.32%, NVIDIA up 1.52%, and Tesla down 2.23%.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index down 0.41%. Xpeng Motors dropped 5.87%, NIO fell 3.21%, and Alibaba decreased by 1.45%.
In the Hong Kong stock market, the three major indices adjusted collectively on Thursday. By the close, the Hang Seng Index fell 1.36%, the Technology Index dropped 2.20%, and the Hang Seng China Enterprises Index decreased by 1.53%.
In terms of market performance, stocks related to pharmaceuticals, Gold, and Ant Financial strengthened, while Autos, Technology, and shipping stocks weakened in succession.
Company News
SUNNY OPTICAL (02382.HK): The shipment volume of mobile camera lenses in May was 98.099 million units, a year-on-year decrease of 5.2%; the onboard camera shipment volume was 10.706 million units, a year-on-year increase of 28.4%; the shipment volume of mobile camera modules was 37.729 million units, a year-on-year decrease of 17.1%.
New China Life Insurance (01336.HK): intends to invest no more than 15 billion yuan (including) to subscribe to the shares of the third phase private fund. The investment scope of the funds is large listed companies' A+H shares that meet the requirements among the constituents of the CSI A500 Index.
CHINNEY INV (00216.HK): Issued a profit warning, expecting a net loss attributable to shareholders of approximately 0.56 billion to 0.58 billion HKD for the year.
CHINA RES LAND (01109.HK): The cumulative contracted sales amount for the first five months is approximately 86.85 billion yuan, a decrease of 6.3% year-on-year.
