Zhitong Hong Kong Stock Early Knowledge | Hong Kong Monetary Authority to launch RMB repurchase optimization measures by the end of August, Tencent establishes K9 Cooperation Department

【Today's Headlines】

Eddie Wu, President of the Hong Kong Monetary Authority: RMB repurchase optimization measures to be launched by the end of August

On July 8th, Eddie Wu, President of the Hong Kong Monetary Authority, stated at the "Bond Connect Annual Forum 2025" that participants in the "Northbound Trading" of Bond Connect can currently use eligible onshore bonds as collateral for RMB repurchase transactions in Hong Kong. In the future, the RMB repurchase business will be further expanded to support re-pledging and cross-border currency repurchase, with corresponding optimization of settlement and clearing arrangements expected to be implemented by the end of August.

On the morning of the 8th, Liang Fengyi, CEO of the Hong Kong Securities and Futures Commission, mentioned during her speech at the Bond Connect Annual Forum 2025 that they have been actively cooperating with mainland regulatory authorities to continuously promote the inclusion of RMB stock trading counters into the Hong Kong Stock Connect. Currently, the relevant technical preparations are progressing smoothly, and they aim to announce the implementation details to the market soon.

【Market Outlook】

U.S. stock indices mixed; NVIDIA (NVDA.US) closes at a new all-time high

Overnight, U.S. stocks closed with the Dow Jones Industrial Average down 165.6 points from the previous trading day, closing at 44,240.76 points, a decrease of 0.37%; the S&P 500 index fell 4.46 points to 6,225.52 points, a decrease of 0.07%; the Nasdaq Composite Index rose 5.94 points to 20,418.46 points, an increase of 0.03%. NVIDIA (NVDA.US) rose 1.11% to $160 per share, closing at a new all-time high, with a total market capitalization exceeding $3.9 trillion. Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index up 0.71%. iQIYI (IQ.US) rose over 3%, JD.com (JD.US) and New Oriental (EDU.US) rose over 2%, and Alibaba (BABA.US) rose 1.62%. The Hang Seng Index ADR fell, closing at 24,107.58 points, down 40.49 points or 0.17% from the Hong Kong close.

【Hot Topics Ahead】

Hong Kong Monetary Authority provides HKD 4.67 billion liquidity to banks through the discount window

According to Zhitong Finance APP, on July 8th, the Hong Kong Monetary Authority provided HKD 4.67 billion liquidity to banks through the discount window.

HSBC (00005) reportedly raises mortgage cash rebate; positive support for Hong Kong's property market

According to Zhitong Finance APP, it is reported that HSBC Holdings (00005) will raise the cash rebate for new mortgages over HKD 1 million from 0.1% to 0.2%, with loans of HKD 10 million increasing to 0.58%, marking a new high among major banks. Cao Deming, Chief Vice President of Mortgage Referral at Jingluo, stated that the Hong Kong one-month interbank offered rate has sharply declined since the end of May. Even though the interbank rate has recently rebounded, it remains at a relatively low level, easing the funding cost pressure for some banks and allowing them to appropriately adjust mortgage-related incentives, benefiting new mortgage buyers and providing positive support for Hong Kong's property market Hunan Chenzhou Discovers 490 Million Tons of Lithium Ore

According to the Hunan Provincial Department of Natural Resources, through innovative geological exploration theories and long-term exploration, an ultra-large altered granite-type lithium deposit has been discovered in the Jijiao Mountain mining area of Linwu County, Chenzhou City, Hunan Province, with a total lithium ore amount of 490 million tons and a lithium oxide resource amount of 1.31 million tons. At the same time, this ultra-large mineral deposit is associated with various strategic minerals such as rubidium, tungsten, and tin, all of which are newly added resource amounts.

Tencent (00700) Games Establishes K9 Cooperation Department to Promote the Longevity of Ubisoft's Core IP

Tencent Games released an internal notice regarding organizational restructuring in some departments, establishing the K9 Cooperation Department responsible for strategic cooperation with Ubisoft, while dissolving the original Ubisoft Cooperation Department, Activision Cooperation Department, and EA Cooperation Department. According to the announcement, K9 will start with publishing agency and IP cooperation business, gradually promoting the transformation of Ubisoft's core IP into a long-lasting brand. Chen Kan, the former assistant general manager of the K1 Cooperation Department, will be transferred to head the K9 Cooperation Department, reporting to Tencent Group Senior Vice President Ma Xiaoyi. The UBI Cooperation Department will also be dissolved, with related functions and teams integrated into the K9 Cooperation Department.

UBS: Raises Macau's Gaming Revenue Forecast for 2025 to 2027, Expects 6% Growth This Year

UBS has raised its forecast for total gaming revenue in the Macau market for 2025 by 8%, expecting a year-on-year growth of 6%, up from a previous forecast of a year-on-year decline of 2%. The bank has raised its forecast for total gaming revenue in the Macau market for 2026 by 14%, expecting a year-on-year growth of 3%, up from a previous forecast of a year-on-year decline of 3%. The bank has also raised its forecast for total gaming revenue in the Macau market for 2027 by 14%, expecting a year-on-year growth of 3%, consistent with the previous forecast.

Passenger Car Association: Domestic Retail Sales of New Energy Passenger Cars Reached 1.11 Million Units in June, Up 29.7% Year-on-Year

Data from the Passenger Car Association shows that domestic retail sales of new energy passenger cars reached 1.11 million units in June, a year-on-year increase of 29.7%.

Sa Sa International (00178) Reports Overall Revenue of HKD 960 Million in Q1, Up 4.7% Year-on-Year

According to Zhitong Finance APP, Sa Sa International (00178) announced that for the first quarter from April 1, 2025, to June 30, 2025, the group's overall revenue was HKD 960 million, an increase of 4.7% year-on-year. Overall, the group's business has made steady progress, with operational efficiency improving in various regions.

New Stock Listings

Today, Lens Technology, Dazhong Oral, FORTIOR (01304), Xunzhong Communication (02597), and Jizhi Jia-W (02590) are listed, while Shougang Langze (02553) is in the subscription period. Lens Technology (06613) closed up 3.52% in the Hong Kong stock dark market, at HKD 18.82. Lens Technology is expected to officially list on the main board of the Hong Kong Stock Exchange on July 9, 2025; Dazhong Oral (02651) closed up 18.25% in the dark market and will be listed on the Hong Kong Stock Exchange on July 9 [Stock Highlights]

J&T Express (01519) Achieves Record High Total Package Volume in Q2, 65.9% Growth in Southeast Asia Market

J&T Express announced its key operating data for the second quarter and first half of 2025, with total package volume reaching new highs this year. In the second quarter of this year, J&T achieved a package volume of approximately 7.39 billion pieces, a year-on-year increase of 23.5%; the average daily package volume was 81.2 million pieces. In the first half of 2025, total package volume reached 13.99 billion pieces, a year-on-year increase of 27%; the average daily package volume was 76.9 million pieces. From the perspective of major markets, J&T's package volume in the Southeast Asian market maintained strong growth. In the second quarter, J&T's package volume was approximately 1.69 billion pieces, a year-on-year increase of 65.9%, setting a single-quarter record since the company's listing, with an average daily package volume of 18.5 million pieces. In the first half of the year, J&T's package volume in Southeast Asia grew by 57.9% year-on-year to 3.23 billion pieces, with an average daily package volume of 17.7 million pieces