【Hang Seng Index Night Futures + Southbound Capital】Southbound capital recorded a net outflow of 2 billion on the first trading day of H2; funds flowed into UBTECH and Zhipu; large sell orders for Hua Hong, Kingboard Laminates, and Kingboard. Hang Seng Index night futures edged down by 3 points (updated continuously)

【Hang Seng Index/HSI/Hang Seng Index/Hang Seng Index/HSI/Hang Seng Index/Hong Kong Stocks/Night Trading/ADR】Northbound funds recorded a net outflow of 1.97 billion yuan for the day. Funds saw relatively larger net inflows into UBTECH Robotics (09880) and Zhipu (02513), with 400 million yuan and 340 million yuan respectively, while Alibaba (09988) recorded a net inflow of 300 million yuan. On the outflow side, Hua Hong Semiconductor (01347) and Kingboard Laminates (01888) recorded net outflows of 1.72 billion yuan and 1.41 billion yuan respectively.

Hang Seng Index night futures fell 3 points to 23,048.

HSI up 174 points on start of H2; BYD, CSPC Pharma up 8%; SMIC down 10%; 7709, 7747 plunge over 26%

Hong Kong stocks started the second half of the year with the market up over 100 points. The HSI opened 190 points higher at 23,071 on the first trading day of July, and rose as much as 454 points to a high of 23,335. The HSI closed at 23,055, up 174 points, with turnover of 369.63 billion yuan. The Tech Index fell 0.4% to 4,454. BYD (01211) and CSPC Pharma (01093) each rose 8%, SMIC (00981) fell 10%, and Yangtze Optical Fibre and Cable (06869) slumped 22%. XL II CS SK Hynix (07709) and XL II CS Samsung (07747) each fell over 26%.

U.S. stock market updates ongoing, details please see: Next page

Intraday movements:

[17:46] [293] Cathay Pacific plans to resume passenger flights to the Middle East from September; Cathay Cargo to resume flights to Riyadh from August

[17:37] [1093] CSPC Pharma signs cooperation agreement with AstraZeneca for development of siRNA drugs; receives upfront payment of over 200 million yuan, with potential maximum of over 400k yuan upon achieving R&D and sales milestones

[17:25] HKMA: Scope of RMB business fund usage and loan tenors expected to continue expanding; banks remain enthusiastic after total quota increased to 200 billion yuan

[17:12] [HKD Time Deposits] July high-interest ranking: HKD time deposit rates up to 20%; note-issuing banks suddenly offer ultra-high rate of 6%

[17:10] [IPO] PwC raises its forecast for Hong Kong IPO fundraising this year to 380 billion yuan; strong listing performance boosts corporate confidence in Hong Kong

[16:59] [Macau Gaming Stocks] Citi bullish on July concert effect boosting Macau gaming; but Morgan Stanley says it's not yet time to buy Macau gaming stocks

[16:46] [JPY Trend] JPY suddenly surges to 161 level; Finance Ministry declines to comment; Japanese government reportedly considering shift to surprise intervention strategy to tackle yen speculative short positions

[16:19] [RMB Internationalization] Eddie Yue: Enterprises face challenges using RMB overseas; discussing solutions with banks and mainland policy departments

[16:08] HSI closed at 23,055, up 174 points, turnover 369.63 billion yuan; Tech Index fell 0.4% to 4,454. BYD (01211) and CSPC Pharma (01093) each rose 8%, SMIC (00981) fell 10%, Yangtze Optical Fibre and Cable (06869) slumped 22%. XL II CS SK Hynix (07709) and XL II CS Samsung (07747) each fell over 26%.

[15:48] Yangtze Optical Fibre and Cable (06869) slumped over 22% in late trading, hitting a low of 198.4 yuan.

[15:06] Hong Kong stocks narrowed gains to about 80 points in late trading, falling back below the 23,000 level to 22,959.

[14:38] [Tse Sui Luen's Granddaughter] Heiress also joins cross-border hoarding! Bethany shows off stunning gemstone jewelry, netizens praise and ask for brand; sells out quickly, requiring pre-order.

[13:46] [AI + HSI] Hang Seng Indexes partners with Cyberport community to develop AI for designing thematic indices;李文龙: Enhancing index operations

[13:38] Market gains further narrowed to nearly 150 points.

[13:28] SMIC (00981) fell 10% in afternoon trading, hitting a low of 80.1 yuan; XL II CS SK Hynix (07709) fell over 22%, XL II CS Samsung (07747) fell 25%.

[13:28] [Capital Markets] Hong Kong H1 ECM fundraising exceeds 346.3 billion yuan, a 5-year high; IPO fundraising ranks second globally.

[13:17] [1211] BYD once rose nearly 10%; self-developed 4nm chip "Xuanji A3" expected to be installed in new model "Denza" next year.

[13:10] [Broker Reports] Morgan Stanley lowers target prices for Hong Kong utility stocks; expects Q3 share price range-bound, valuations no longer cheap (with table)

[13:01] Hong Kong stocks rose about 210 points in early afternoon trade to 23,091, turnover 217.6 billion yuan; Tech Index up 0.2% to 4,480.

[12:21] [AI+1024] Kuaishou Keling AI reportedly to complete 23.4 billion yuan financing, Tencent participating; valuation reaches 140 billion yuan.

[12:00] Hang Seng Index midday up 273 points to 23,154, turnover 213.39 billion yuan; Tech Index up 0.6% to 4,499. ATM stocks up 2% to 4%; auto and pharma stocks strong; BYD (01211) up over 8%, CSPC Pharma (01093) up 7%. Chip stocks fell; SMIC (00981) down nearly 9%, Hua Hong Semiconductor (01347) down nearly 10%. XL II CS SK Hynix (07709) and XL II CS Samsung (07747) slumped 20% to 23%.

[11:53] CSPC Pharma (01093) up over 7%; WuXi Biologics (02269) up over 3%; Sino Biopharmaceutical (01177) up 5%.

[11:38] HSI midday closed up about 214 points at 23,095, turnover 202.4 billion yuan; Tech Index up 0.5% to 4,493.

[11:24] [IPO] PwC raises its forecast for Hong Kong IPO fundraising this year to 380 billion yuan.

[11:16] Market gains further narrowed to about 160 points.

[11:03] Gold stocks rose; Zijin Mining (02899) up over 5%; Zijin Gold International (02259) up 10%; Zhaojin Mining (01818) up over 7%; Lingbao Gold (03330) up over 13%.

[10:50] [Under HKEX] Report: LME considers relaxing rules, including allowing outdoor aluminum storage, to overcome limited space in Hong Kong.

[10:24] Market rally moderated; HSI latest up about 250 points. Auto stocks outperformed; BYD (01211) up over 8%.

[10:12] [AI+Pharma] Insilico Medicine and Takeda Pharmaceutical reach AI-powered drug discovery collaboration; deal value up to 4.7 billion yuan; stock rose 10% then turned lower.

[09:53] Zhipu (02513) plunged nearly 10% to 1,900 yuan level; MINIMAX (00100) down over 6%; Xunce (03317) up over 15%.

[09:47] SMIC (00981) down 8%; XL II CS SK Hynix (07709) down 18%; XL II CS Samsung (07747) slumped 20%.

[09:45] Alibaba (09988) and Xiaomi (01810) up 4%; Tencent (00700) up 3%; Meituan (03690) up over 7%.

[09:43] Hong Kong stocks expanded gains to over 400 points after open, back above 23,300.

[09:29] Auto stocks rose; BYD (01211) up over 4%; Geely (00175) up over 2%; Xiaomi (01810) up over 3%; NIO, XPeng, Li Auto up 0.4% to 4%.

[EV] One article overview of June new energy vehicle makers' performance: BYD sold over 400k units; Leapmotor delivered over 90k vehicles (updated)

[09:27] [IPO] Anker Innovations 668 first-day listing opened at 99.3 yuan, slightly below pricing by less than 0.1%; one lot loss of 2 yuan.

[09:22] Hang Seng Index opened 190 points higher at 23,071, turnover 7.26 billion yuan; Tech Index up 1.3% to 4,528. Alibaba (09988) up over 2%; Tencent (00700) up 3%; SMIC (00981) down nearly 6%; KOSPI fell, XL II CS SK Hynix (07709) and XL II CS Samsung (07747) slumped 15%.

[Asia-Pacific Stocks] KOSPI Index fell over 6%; Nikkei 225 fell over 2% amid reports Meta plans to sell computing power and Apple may purchase from CXMT and YMTC.

[09:13] HSI pre-market futures up about 220 points to 23,034.

[08:06] [9988] Alibaba and payment company to pay over 4.6 billion yuan to settle U.S. investigation into illegal pharmaceutical sales.

[07:45] Hong Kong market closed for 1 July holiday; ADRs strong: Baidu ADR cumulative 5% higher than HK stock; JD ADR 4% higher; Alibaba ADR 3% higher; auto stocks strong after data release: BYD ADR 6% higher; XPeng ADR 5% higher; Li Auto ADR 4% higher.

More HK ADR and Chinese ADR quotes:

[07:30] Iran negotiating delegation says U.S. violated understanding commitments; will set up oversight group to review U.S. violations. Plus Fed Chair Kevin Warsh said at ECB meeting he will chart a new course at the Fed but declined to provide guidance on rates, market sentiment cautious. U.S. stocks volatile: Dow rose 423 points then reversed, closed at 52,305, down 13 points; S&P 500 down 0.22%; Nasdaq down 0.66%.

See U.S. market close now:

For Hong Kong stock market previous day conditions, please see: [HK Night Futures + ADR + Northbound] Hong Kong ADRs strong; Auto stocks strong; Alibaba ADR 3% higher