HSI -605pts (-2.3%) 25,716 HSCEI -266pts (-2.8%) 9,184 T/O HK$165.99bn (+14.6% DoD)
Opened lower ahead of ECB, CAC and DAX worked higher into the green but the FTSE traded sideways in the red
Eurozone Rate decision
Balance of Trade Jul €18.1B vs 16.2B Jun revised (F/cast was 21.1B)
Imports sa Jul -3.8% MoM vs +0.7% Jun revised (consensus was +0.2%)
Exports sa Jul +0.5% MoM vs +1.3% Jun (consensus was +0.5%)
Current Account Jul €17.6B vs 22.5B Jun revised (F/cast was 24.4B)
CHINA CSI 300 closed -2pts (-0.04%) @ 4,970
Market opened lower at 4,953 and trending lower in choppy trading; closed at lunchtime -31pts (-0.6%) @ 4,942. PM saw the market initially trade sideways but then rallied into the close; Team China active again after the rising PPI which is a further concern and could promtp the PBOC to instigate another RRR cut. Inflation eased as food prices eased after early floods disrupted supplies. We could get New loans and Total Social Financing data at any time. Investors still trying to assess the implications for ‘common prosperity’ and Dual Circulation.
Shanghai Composite +18pts (+0.5%) @ 3,693 T/O US$98,748bn +3% DoD
Shenzhen Composite +11pts (+0.1%) @ 14,699 T/O US$116,630bn -6% DoD
ChiNext Composite Index -14pts (-0.4%) @ 3,525
China's National Health Commission reported no local confirmed COVID-19 cases yesterday (8th), along with 28 imported cases.
Inflation Aug +0.8% YoY vs +1% Jul (F/cast was 1%)
Inflation Aug +0.1% MoM vs +0.3% Jul (F/cast was +0.4%)
PPI Aug 9.5% YoY vs +9% Jul (F/cast was +9.1%)
China's prices of food, tobacco and alcohol decreased by 2% yearly for August 2021, dragging the CPI down by about 0.58 ppts, according to NBS' data. Among which, pork prices declined by 44.9%, dragging CPI down by around 1.09 ppts.
Pre market opened @ 26,077 -244pts vs -177pts ADR’s with Ecommerce names weak alone with Energy (Sinopec and Petrochina ExDiv). But Macau names +VE along with Tectronics and Anta.
Market initially tested 26,100 but then sold down and testing 26,000 support, that broke around 11am and the market trended lower to 25,860 before a small bounce into lunch; -422pts (-1.6%) @ 25,899.
PM the market continue to trend lower later afternoon the SCMP reported China to halt approval for new games prompting another leg down for Tencent -8.5% on increased volume +63% DoD following +32% Wednesday.
Netease -11% volume +488% DoD. Other Ecommerce stocks weak too
Ecommerce weak after regulator told them not to focus on profit. Education still under pressure. Dual circulation will focus on ideology over accelerated growth; old economy stocks should see interest. The big issue with ideology over growth I think will be generating jobs.
Bill Gates Family office buying into Four Seasons Hotels and Resorts should be a slight +VE for Shangri La -0.2% and HK & Shanghai Hotels -0.5%, Mandarin unch: viewing a rebound of tourism.
HONG KONG DATA
HK reported 2 new covid cases; both imported.
SHORT SELLING HSI Thursdays 17.6% vs 21.7% Wednesday
Top shorts Country Garden (2007) 59%, Haidilao (6862) 46%, Bank of China (3988) 43%, BYD Co (1211) 41%, CM Bank (3968) 39%, Xiaomi (1810) 37%, Sands China (1928) 36%, Wharf REIC (1997) 36%, CCB (939) 33%, ICBC (1398) 32%, Hang Seng Bank (11) 32%, Ali Health (241) 29%, SinoBioPharm (1177) 28%, MTRC (66) 27%, CK Assets (1113) 27%, Power Assets (6) 27%, Sunny Optical (2382) 25%, Techtronics (669) 25%
After Market News
The Urban Renewal Authority (URA) announced today (9th) that the contract for the development of Bailey Street / Wing Kwong Street Development Project (the Project) in To Kwa Wan has been awarded to Nation Star Development Limited, a wholly-owned subsidiary of HENDERSON LAND (00012.HK) +0.200 (+0.589%) Short selling $18.45M; Ratio 22.834% , with a tender amount at HK$8.189 billion.
The tender amount this time is close to the lower end of the market valuation of nearly $8 billion to over $10 billion. Based on the buildable floor area of about 717,400 sq.ft., the land price per sq.ft. is about $11,414.
HENDERSON LAND (00012.HK)'s spokesman said after the company has won the URA's Bailey Street / Wing Kwong Street Development Project that the company was grateful of seizing the contract, of which the project is located in the core district of the area. Familiar with the area, the company voiced confidence in the development potential there.
PING AN (02318.HK) -1.450 (-2.375%) Short selling $249.04M; Ratio 15.110% announced today (9th) that it repurchased 808,600 A shares through the Shanghai Stock Exchange at a price ranging from RMB51.02 to RMB51.43 per share, involving approximately RMB41.3977 million.
Shanghai Stock Exchange and Shenzhen Stock Exchange announced the arrangements for the 2021 Mid-Autumn Festival holiday. Both markets will be closed on 19-21 September, and will be reopened from 22 September. During the holiday, the Southbound Trading under Shanghai- and Shenzhen-Hong Kong Stock Connects will be suspended during 16-22 September, and will be reopened from 23 September.
Chinese financial watchdog has allowed EVERGRANDE (03333.HK) -0.160 (-4.313%) Short selling $62.98M; Ratio 10.954% to re-negotiate the deadline for existing loan repayment with financial institutional creditors, Bloomberg citing insiders.
CHINA AOYUAN (03883.HK) -0.390 (-8.497%) Short selling $50.27M; Ratio 27.027% announced that its chairman Guo Ziwen has purchased 4.85 million shares of the company today (9th), at an average price of approximately $4.16 per share, involving $20.17 million.
Macau's Novel Coronavirus Response and Coordination Centre expressed that, with the COVID-19 outbreak in Hong Kong becoming under control in recent days, the Macau government has deemed it appropriate to ease up the entry restrictions for "non-resident foreigners" who have stayed substantially in Hong Kong.
The Macau government thus announced to allow "non-resident foreigners" who meet the specific requirements and who have not been to places other than Mainland China, Macau or Hong Kong in the past 21 days, to apply for entry into Macau.
CK ASSET (01113.HK) -0.050 (-0.104%) Short selling $95.17M; Ratio 27.169% said Li Ka Shing Foundation acquired a total of 1.2855 million shares in CK Asset at the average price of HK$49.8174, HK$47.7935 and HK$48.0308 per share on 3 September, 7 September and 8 September 2021 respectively. As a result, the deemed interests of Li Ka-shing, Victor T K Li and Li Ka Shing Foundation in CK Asset increased from 45.95% to 45.98%; increased from 46.02% to 46.05%; and increased from 11.23% to 11.27%, respectively.
SUNNY OPTICAL (02382.HK) -0.200 (-0.086%) Short selling $113.16M; Ratio 25.384% announced that, over August, shipment of spherical glass lenses amounted to 3.397 million units, up 86.1% YoY. Handset lens sets (HLS) shipment plunged 22.8% YoY to 125 million units, mainly due to the overall moderated demand in the smartphone market, compared to the corresponding period of the previous year.
Shipment of vehicle lens sets and other lens sets for August amounted to 5.461 million units and 10.913 million units, up 0.9% YoY and 83.5% YoY respectively, the company added.
Chinese pub chain HELENS (09869.HK), which is scheduled to debut on the Stock Exchange tomorrow (10th), opened low at $15.8 in the
gray market and has garnered support afterwards. The stock last stood at $21.65, up 9.5% against its listing price of $19.77, on a volume
of 6.5 million shares, according to data from PhillipMart.
The Intermediate People's Court of Hefei announced to ink a strategic cooperation agreement with BABA-SW (09988.HK)'s Taobao (Alibaba Auction) to start working together on online auction services and online counselor management. In addition, both sides aim to explore the localized innovative mode of "Internet + Legal Counselling".
SHK PPT (00016.HK) +0.800 (+0.735%) Short selling $38.69M; Ratio 11.884% announced the results for the year ended 30 June 2021. Revenue burgeoned 3.2% year-on-year to HK$85.262 billion. Net profit was HK$26.686 billion, up 13.5% annually. EPS hit HK$9.21. A final dividend of HK$3.7 per share was declared, flattish from the same period last year. Underlying profit amounted to HK$29.873 billion, up 1.7% annually.
Renault is in advanced talks to terminate its joint venture to build vans with BRILLIANCE CHI (01114.HK), Reuters citing insiders. The French company has teamed up with BRILLIANCE CHI since 2017, when both sides set up manufacturing arms in Shenyang and planned to make inroads to the electric commercial van market.
TENCENT (00700.HK) -44.500 (-8.484%) Short selling $2.75B; Ratio 10.296% 's Tencent Cloud declared the partnership with the big conglomerate Nomin to provide solutions for its digital transformation. This marked the first time for Tencent Cloud to enter the Mongolian market. In addition, Tencent Cloud has joined hands with S Cloud to help with local digital economic development.
The Cross-boundary Wealth Management Connect and the Southbound Bond Connect (i.e. southbound leg of the Bond Connect) projects will officially be put into operation soon, meaning the Mainland capital and bond market scope for Hong Kong and Macao investors are expanding continuously, revealed Pan Gongsheng, deputy governor of the People's Bank of China.
SHORT SELLING Tuesday 17.5% vs 11.3% Monday
Top shorts CK Assets (1113) 41%, MTRC (66) 38%, Techtronic (669) 37%, Bank of China (3988) 36%, AIA (1299) 34%, Hengan (1044) 34%, WH Group (288) 34%, ICBC (1398) 33%, CM Bank (3968) 32%, Haidilao (6862) 32%, Wharf REIC (1997) 28%, Hang Seng Bank (11) 27%, New World Dev (17) 27%, Ali Health (241) 26%, Henderson Land (12) 26%, Bud Apac (1876) 26%, Shenzhou (2313) 26%, CCB (939) 25%.
Market trended lower throughout the session before finding some support just before the close at 7,350 with a small bounce into the close -143pts (-1.9%) @ 7,370 . Financials weak with CBA leading the big four lower. Miners also weak.
Victoria reports 324 new covid cases. NSW’s restrictions will ease on the Monday after 70 per cent of NSW’s eligible population is fully vaccinated. Current forecasts predict NSW will reach this target in mid-October.
Nikkei opened lower at 29,960 but has worked better through the morning. Still optimism for that new post LDP leadership election will result with new polices saw the market hold above 30,000 in the am session. Seeing rotation out of cyclicals into defensives and the Power names on hopes Kono wins the leadership. Travel names weak as JAL raises funds. Tech lower on China concerns. PM opened lower and sold down to 29,909 before a small rally to close -173 (-0.6%) @ 30,008
Topix traded in a similar way opened 2,066 but rallied to 2,075 in early trades and then sold down to 2,060 and traded sideways with a small rally at the end to close -15pts (-0.7%) @ 2,065
TEPCO +VE along with other power cos as Kono says he’d ok Nuclear power station restarts
JAL weak on news its looking to raise 300b Yen
Foreign Bond Investment ¥1043.1B vs ¥-546.9B prior revised
Foreign Stock Investment ¥421.6B vs ¥24.1B prior revised
Machine Tool Orders Aug 86.2% vs 93.4% Jul (F/cast was 89%)
KDCA reported 2,049 new covid cases and 37.2% of the population now having been vaccinated.
Kospi opened lower but rallied to 3,158 in early trades before selling down to 3,135 level and trading sideways around 3,115 before closing -48pts (-1.5%) @ 3,115. Tech weak as the China news adds to the local on-line platform operators yesterday;
Kosdaq traded in a similar pattern, initially dipped to 1,031 before rallying to 1,042 but then eased back to re-test the morning low before trading sideways, dipped to 1,027 around 2pm before rebounding and trading sideways to close -3pts (-0.3%) @ 1,035
Taiex opened lower and tested 17,150 level before rallying to 17,320. Early buyers as the rumours about a spike in covid cases was untrue. Market then eased back to flat currently +8pts (unch) @ 17,279
T/O was US$8.79bn vs US$11.59bn Wednesday has been falling all week
CECC reported 6new covid cases (2 imported)
After market announced distributing stimulus vouchers from Oct 8 and Cabinet approved NT$160bn covid relief budget.
Northbound RMB 61,031m Sell 29,304m vs 31,727m Buy
Southbound HK$ 18,142m Sell 8,956m vs 9,186m Buy
Northbound RMB 71,650m Sell 35,729m vs 35,921m Buy
Southbound HK$ 20,888m Sell 10,223m vs 10,665m Buy
TENCENT (00700.HK) -44.500 (-8.484%) Short selling $1.45B; Ratio 11.784% closed at $480, down 8.5%
BABA (09988.HK) -9.900 (-5.793%) Short selling $424.62M; Ratio 20.900% closed at $161, down 5.8%
MEITUAN (03690.HK) -12.400 (-4.751%) Short selling $397.15M; Ratio 15.433% closed at $248.6, down 4.8%
PING AN (02318.HK) -1.450 (-2.375%) Short selling $126.21M; Ratio 16.391% closed at $59.6, down 2.4%
AIA (01299.HK) -1.300 (-1.373%) Short selling $158.36M; Ratio 23.154% closed at $93.35, down 1.4%
HKEX (00388.HK) -5.800 (-1.165%) Short selling $147.86M; Ratio 21.216% closed at $492.2, down 1.2%
CCB (00939.HK) +0.010 (+0.176%) Short selling $131.34M; Ratio 29.614% closed at $5.68, up 0.2%
HSI & HSCEI Constituents on Move:
NTES (09999.HK) -16.600 (-11.030%) Short selling $206.49M; Ratio 37.994% closed at $133.9, down 11%
EVERG SERVICES (06666.HK) -0.380 (-7.585%) Short selling $19.00M; Ratio 8.970% closed at $4.63, down 7.6%
KUAISHOU-W (01024.HK) -6.850 (-6.902%) Short selling $379.45M; Ratio 24.798% closed at $92.4, down 6.9%
JD HEALTH (06618.HK) -5.400 (-6.758%) Short selling $39.70M; Ratio 7.546% closed at $74.5, down 6.8%
JD (09618.HK) -18.200 (-5.628%) Short selling $105.21M; Ratio 19.766% closed at $305.2, down 5.6%
HAIDILAO (06862.HK) -1.800 (-5.488%) Short selling $65.37M; Ratio 43.688% closed at $31, down 5.5%
BIDU-SW (09888.HK) -7.600 (-4.645%) Short selling $157.29M; Ratio 29.913% closed at $156, down 4.6%
SUNAC (01918.HK) -0.880 (-4.622%) Short selling $44.60M; Ratio 12.199% closed at $18.16, down 4.6%
EVERGRANDE (03333.HK) -0.160 (-4.313%) Short selling $33.65M; Ratio 10.894% closed at $3.55, down 4.3%
CG SERVICES (06098.HK) -2.350 (-3.787%) Short selling $16.13M; Ratio 8.662% closed at $59.7, down 3.8%
XIAOMI (01810.HK) -0.900 (-3.673%) Short selling $579.15M; Ratio 40.414% closed at $23.6, down 3.7%
JD LOGISTICS (02618.HK) -1.250 (-3.597%) Short selling $3.90M; Ratio 6.425% closed at $33.5, down 3.6%
ALI HEALTH (00241.HK) -0.460 (-3.506%) Short selling $23.87M; Ratio 22.903% closed at $12.66, down 3.5%
BUD APAC (01876.HK) -0.680 (-3.494%) Short selling $7.49M; Ratio 11.716% closed at $18.78, down 3.5%
AAC TECH (02018.HK) -1.300 (-3.073%) Short selling $14.72M; Ratio 13.183% closed at $41, down 3.1%
HSMI & HSSI Constituents on Move:
CHINAHONGQIAO (01378.HK) +1.660 (+14.435%) Short selling $72.28M; Ratio 14.706% closed at $13.16, up 14.4%
KINTOR PHARMA-B (09939.HK) -8.300 (-10.546%) Short selling $4.20M; Ratio 2.846% closed at $70.4, down 10.5%
CGN POWER (01816.HK) +0.130 (+6.500%) Short selling $11.69M; Ratio 4.701% closed at $2.13, up 6.5%, hitting new high
CGN NEW ENERGY (01811.HK) +0.320 (+5.714%) Short selling $17.65M; Ratio 10.748% closed at $5.92, up 5.7%, hitting new high
YANZHOU COAL (01171.HK) +0.880 (+5.598%) Short selling $7.95M; Ratio 3.007% closed at $16.6, up 5.6%, hitting new high
CHALCO (02600.HK) +0.330 (+5.156%) Short selling $22.71M; Ratio 3.624% closed at $6.73, up 5.2%, hitting new high
CHINA COAL (01898.HK) +0.240 (+4.040%) Short selling $3.26M; Ratio 1.352% closed at $6.18, up 4%, hitting new high
HENDERSON LAND (00012.HK) +0.200 (+0.589%) Short selling $6.33M; Ratio 15.239% 's residential project located in No.1 Shau Kei Wan Road, Eastern District, Hong Kong Island -- "THE HOLBORN" has released the first price list, offering 88 units with unit area of 229-260 sq. ft.. Based on the maximum discount of 6%, the discounted selling prices range between $5.959 million-$7.999 million.
BYD COMPANY (01211.HK)'s total order volume may hit 900,000 units this year, but the company can only deliver 700,000-750,000 units this year, with the delivery contingent on the raw materials and integrated circuits, Chinese media cited the company at the mid-year exchange meeting recently. Currently, the company has not delivered 160,000 vehicles with the delivery period already surpassing 4.5 months. The unfinished orders this year will be postponed next year, whilst car deliveries are expected to reach 1.5 million next year, BYD COMPANY forecast.
TENCENT (00700.HK) is leading the Series E strategic funding round of Distinct HealthCare totaling US$60 million. The clinic chain may be valued at around RMB4 billion following the investment. While BABA-SW (09988.HK) and ByteDance reportedly attempted to join the round, TENCENT defeated them and confirmed to invest in Distinct HealthCare after 2-3 months of contact.
SCMP reported that China was to temporarily suspend approval for new on-line games
Tianjin's Office of the Central Cyberspace Affairs Commission, Public Security Bureau, State Administration for Market Regulation, Ministry of Transport, and some other ministries, arranged admonition talks with eight car-hailers, including Didi Chuxing, T3 Chuxing, Meituan Dache and Cao Cao Mobility, as Chinese media heard from Tianjin's MOT.
During the talks, each department highlighted multiple problems in such companies, for example loose registration threshold, illegal leaflet distribution and discount promotion, while formulating specific requirements.
HUTCHMED (00013.HK) -0.400 (-0.654%) Short selling $818.20K; Ratio 6.976% announced that the company and AstraZeneca have initiated SANOVO, a China Phase III study of ORPATHYS, an oral, potent, and highly selective MET tyrosine kinase inhibitor (“TKI”), in combination with AstraZeneca’s third-generation, irreversible epidermal growth factor receptor (“EGFR”) TKI, TAGRISSO as a first-line treatment in certain non-small cell lung cancer (“NSCLC”) patients. The first patient was dosed on Tuesday, September 7, 2021, the company added.
MEITUAN-W (03690.HK) expressed that, from 9 September to 31 December, Shanghai citizens will be rewarded with a RMB10 digital red envelope, which could be used to pay for a Meituan Bike ride, once they completed the registration for the "digital RMB" feature on Meituan App, reported Shanghai Securities Journal. The event is co-hosted by MEITUAN-W, ABC (01288.HK), PSBC (01658.HK) and CCB (00939.HK), with the aim to experiment digital RMB low-carbon mobility red envelope in nine major testing points, including Beijing, Shanghai, Shenzhen, Hainan, etc..
BABA-SW (09988.HK)’s AliExpress Brazil has seen a YoY increase of 319% in large transactions over the course of this year's 618 event, remarked the operation leader of AliExpress in South America, Kang Huang. Huang stated that the Brazilian market harbors immense opportunities as the country leaped from fifth to second in AliExpress's global transaction volume ranking. AliExpress will continue to expand the local Brazilian market through localization, cross-border logistics and strengthening social and business connections, added Huang.
XPENG-W (09868.HK)'s founder and CEO, He Xiaopeng, told CNBC that, apart from stretching the sales volume in China, the company will also explore other areas including robotics and flying vehicles as long-term development goals. He added that XPENG-W is preparing to launch more vehicle models priced in the range of RMB200,000-400,000 in the future, which might include larger five- or seven-seat models.
Beijing Hyundai Motor Group is planning to sell its second factory in Beijing and is currently in talks with Chinese EV companies including Mi Car under XIAOMI-W (01810.HK), reported Chinese media. The plant is responsible for the production of Sonata, Avante and Tucson SUVs.
TENCENT (00700.HK) -31.900 (-6.082%) Short selling $1.45B; Ratio 11.784% issued a staff letter titled "99 Giving Day", Chinese media reported. Following the RMB50-billion input to ignite "Sustainable Social Value Innovation" strategy in April, the company pumped further capital on 18 August to initiate "Common Prosperity Special Plan". The first tranche of this funding will start to take effect on this year's "99 Giving Day".
Hong Kong's Secretary for Commerce and Economic Development, Edward Yau, expressed when delivering a speech at the Fashion Summit that, the production lines have not seen any large-scaled migration, despite the market's apprehension over the potential impact of the trade war and tariff imposition two years ago. Yau added that the increased costs from tariff and logistics, instead, have been passed onto consumers.
Shiyan Xiaopeng Automobile Sales Service Ltd. Co was founded on 7 September, with a registered capital of RMB10 million, according to data from Tianyancha. Wholly held by Xiaopeng Automobile Sales, the company’s businesses will cover NEV sales, rental and operational services for small and mini coach.
The U.S. is able to raise solar energy supply to 40% of the country's electricity within 15 years, a 10-fold rise from the current solar output, AP citing a report by the Office of Energy Efficiency and Renewable Energy under the U.S. Department of Energy (DOE).
However, this requires massive policy changes and federal investment worth billions of U.S. dollars to modernize the country's electric grid.
MEITUAN-W (03690.HK) held the "2021 Meituan Shangou Digital Retail Conference" in Beijing, during which the group's senior vice president, Wang Puzhong, expressed that the group's Meituan Shangou operation is targeting to aid 100 brands to achieve an annual transaction
volume of over RMB1 billion in five years.
STANCHART (02888.HK) predicted that bitcoin will double its price to USD100,000 by the end of this year or early next year, with the potential of reaching USD175,000 in the long run.
Tianyancha showed that Tencent Technology Shenzhen has recently applied to register "Honor of Kings Metaverse" and "TiMi Metaverse" trademarks, reported Chinese media. The Chinese state-owned media, Securities Times, however, published an article to warn investors of the potential risk of blindly investing in concept as grand and abstract as the "metaverse".
Ant Group has recently invested in a Singaporean startup working with thousands of Southeast Asian restaurants, intending to help local restaurants revive from the pandemic using its technology and further penetrate the region, foreign media reported. The Alipay operator poured US$15 million in Chope in August to become its biggest shareholder, according to Ant's announcement and DealStreetAsia's database.
The restaurant booking app's partners include 5,000 restaurants in Singapore, Jakarta and Bangkok.
PETROCHINA (00857.HK) announced that its first "PETROCHINA-DASOUCHE Automobile Trade-in Shop" has opened in the western part of Nanning city, Guangxi, offering second-hand vehicle trading and new vehicle sales services. The company expressed that, with the support of big data and AI, the shop will recommend the appropriate vehicle-purchase plans to the consumers via electronic displays, according to their needs, so as to enhance the service efficiency effectively.
China Consumers Association (CCA) expressed that the VIP member services of certain video platforms have prompted heated discussion among the community. The CCA stated that the original purpose of the VIP member services is to cater to users' needs, but the services themselves should be consumer-oriented and comply with relevant laws and regulations. CCA added that video platforms should avoid deceptive marketing tactics and unreasonable terms when providing VIP services, so as to safeguard the legitimate rights of the consumers and to ensure that the consumers receive services with quality matching the price they paid.
Billionaire hedge fund manager George Soros criticized BlackRock's investment in China on WSJ, calling it a mistake harming U.S. national security interests and losing money on clients. In response, BlackRock mentioned the large and complex China-US economic ties, with total goods and services trade exceeding US$600 billion last year, reported CNBC. Investments from U.S. asset managers and other financial institutions would contribute to the economic interconnectedness between the world's two biggest economies.
EVERGRANDE (03333.HK) -0.280 (-7.547%) Short selling $33.65M; Ratio 10.894%, having recently redeemed a private placement bond of a Chinese broker overseas, is now forming a debt committee to handle domestic and foreign debts, Hong Kong Economic Journal cited sources. The newspaper also quoted a local Chinese financial institution that the company's Vice Chairman and President Xia Haijun has arrived in Hong Kong, who may later deal with the matters related to the debt committee.
The World Health Organization (WHO) called on developed countries to hold off on Covid booster shots by the end of year to allow every country to inoculate at least 40% of its population.
Despite vows to donate 1 billion doses, high-income countries have only materialized 15% of those jabs, said WHO Director-General Tedros Adhanom Ghebreyesus. He also urged nations to expedite vaccine sharing.
The Hong Kong government will hold an initiation ceremony for the "Wealth Management Connect" scheme tomorrow afternoon (10th), which will be hosted by the chief executive, Carrie Lam, reported local media, citing sources. Relevant ceremony will concurrently be held in Beijing and Guangzhou, with officials from China and Hong Kong scheduled to interact via video link, the report added.
PRE MARKET NEWS
The manufacture factory for China's first mRNA COVID-19 vaccine has been completed recently in Yunnan Yuxi Hi-Tech District and is estimated to be ready for commencing production by October.
RMB520 million has been invested in the building of the factory, which is predicted to be able to manufacture 200 million doses of vaccine per year.
Deputy Chief Executive of The Hong Kong Monetary Authority (HKMA), Arthur Yuen, expressed on an online forum that, activities of the banks' clients have changed over the past two years, with the ratio of investing via online channels growing from 37% in 1H19 to over 50% in 1H21.
Yuen highlighted that the COVID-19 pandemic has accelerated the process of digitalization of the banking industry. As the banks began to adopt more non-face-to-face channels to provide banking services, the staff have likewise started to face a graver challenge in terms of customer communication, Yuen added.
Macau's Secretary for Economy and Finance, Lei Wai Nong, hoped that Macau's GGR will see improvement over the coming two months but remarked that, based on the GGR in August, certain adjustment will have to be made to the full-year GGR forecast of MOP130 billion, reported Radio Macau.
The Olympic Council of Asia (OCA) announced eight e-sports titles for the 19th Asian Games Hangzhou 2022, namely TENCENT (00700.HK)'s Honor of Kings, Hearthstone, Dream Three Kingdoms 2, Dota 2, FIFA, Game for Peace, League of Legends, and Street Fighter V.
BYD COMPANY (01211.HK) -8.800 (-3.264%) Short selling $404.33M; Ratio 35.797% 's "e Platform 3.0" adopts a new domain-control electronic and electrical architecture for the high-speed road network build-out for vehicle information processing, Chairman cum President Wang Chuanfu was quoted as saying by cs.com.cn. BYD COMPANY becomes the first auto company in China to mass-produce domain controllers.
BYD COMPANY (01211.HK) (002594.SZ) was one of the new energy carmakers with August wholesale volume topping 10,000 units in China, according to China Passenger Car Association (CPCA). The firm sold 60,858 units. Tesla China's sales climbed 34.3 MoM to 44,264 units, followed by SAIC-GM-Wuling (43,783 units), SAIC Motor Passenger Vehicle Company (16,998 units), and GAC GROUP (02238.HK) (601238.SH)'s GAC Aion (11,613 units).
China's Ministry of Transport (MOT) published a notice, promoting the online ride-hailing compliance. The notice highlighted that some ride-hailers recruited or induced drivers without licenses to join forces of illegal operation, which acutely disrupts the market order of fair competition and undermines the safety and stability of the industry.
Local transportation authorities in China should actively work with relevant departments to guide and urge car-hailers to employ labor in accordance with laws and regulations, regulate pricing behavior, perfect benefit distribution mechanism, lower excessively high commission ratio, and protect drivers' reasonable wages and break time.
China's Propaganda Department and the National Press and Publication Administration summoned gaming companies and platforms like TENCENT (00700.HK) and NTES-S (09999.HK) for talks, stressing their need to strictly fulfil various requirements under the notice, reported Xinhua. Meanwhile, China strives to step up online games' content review by banning all illegal and non-complaint contents with wrong value orientation, obscenity, gore and horror. Equally, the country will fight against morbid cultural practices like money worship, "sissy boys" and "danmei" (i.e. male same-sex romance), while preventing excessive concentration as well as monopoly. In this way, Beijing could lay its emphasis on propelling technology and innovation.
TENCENT, in reply, expressed that it will strictly implement the relevant requirements and measures set out at the meeting, regarding anti-addiction for minors, so as to promote the appropriate set of values to minors and safeguard their physical and mental health.
NTES-S (09999.HK) replied that it will study hard and put the spirit into practice, while strictly implementing regulators' relevant rules and requirements to prevent minors from indulgence, reported Sina Tech. NTES-S will step up game content review and management further and stick to the right value orientation.
SANDS CHINA LTD (01928.HK) -0.350 (-1.299%) Short selling $38.55M; Ratio 37.315% announced the latest business update. Over July and August, The group’s net revenues totaled US$265 million and US$148 million, up 516.3% YoY and 179.2% YoY respectively. Additionally, the financial performance reflects adjusted property EBITDA of US$44 million and adjusted property EBITDA loss of US$14 million in July and August 2021, respectively, as compared to adjusted property EBITDA loss of US$79 million and US$83 million, respectively, in the same periods in the prior year.
XIAOMI-W (01810.HK) -0.800 (-3.265%) Short selling $579.15M; Ratio 40.414% 's statement disclosed that it has repurchased 7.905 million shares of the company on the Stock Exchange on 8 September, at a price ranging between $24.30-24.45, involving a total amount of approximately $193 million.