GMT EIGHT - OPPORTUNITIES IN CHINA

VICTORY SEC (08540) will distribute a mid-term dividend of HK$0.012 per share on October 5.

Victory Securities (08540) announced that it will distribute an interim dividend of HKD 0.012 per share for the six months ending June 30, 2026, on October 5, 2026.

HUTCHMED (00013): Reached a licensing agreement with GlaxoSmithKline for KRAS-EGFR antibody-drug conjugates for cancer treatment.

Hutchison China MediTech Limited (00013) announced that its subsidiary Hutchison Whampoa Medicine (Shanghai) Co., Ltd. (HUTCHMED Limited) has entered into an exclusive development and licensing agreement with a subsidiary of GSK plc (referred to as "GlaxoSmithKline"), granting the GSK subsidiary global rights to develop and commercialize HMPL-A830, excluding mainland China, Hong Kong, Macau, and Taiwan.

A-shares at midday | The three major indices rose collectively, with most individual stocks declining, and the shipping and cultivated diamonds leading the gains.

The market shows a differentiated pattern of "index collective gains, individual stocks generally declining, with shipping and lab-grown diamonds leading the rise."

Chips contribute to nearly 80% of export growth; is the South Korean economy "putting all its eggs in one AI basket"?

Driven by the ongoing demand for artificial intelligence (AI) infrastructure, South Korea's exports in August continued to show rapid growth, led by semiconductors. However, this impressive growth rate has also raised concerns about "what the next step will be."

Japan's 30-year bond auction faces a pressure test today, as a global bond market sell-off threatens to add fuel to the fire.

On Thursday, Japan will auction 30-year government bonds, a move that will test the resilience of market investors' demand.

The Hong Kong dollar interbank offered rate generally declined, with the one-month interbank rate dropping by 1.917 basis points to 2.84339%.

On September 3, the Hong Kong interbank offer rate generally fell, with the one-month rate related to mortgages reported at 2.84339%, down 1.917 basis points.

The Ministry of Industry and Information Technology: From January to July, the operating income of the large-scale electronic information manufacturing industry exceeded 11 trillion yuan, a year-on-year increase of 19.4%.

From January to July, China's electronic information manufacturing industry maintained rapid production growth, with export growth steadily increasing. The industry's profitability saw significant growth, investment momentum was evident, and the overall development trend of the industry was positive.

The AI arms race is heading towards the "starry sea"! From competing for chips to controlling critical data, underwater cables and satellites may take over in the next wave of computing power frenzy.

The competition for AI infrastructure has shifted from "who owns the most chips" to "who controls the physical channels, network architecture, and key nodes for global data flow." Undersea cables and satellites have therefore simultaneously become scarce assets, tools of digital sovereignty, and frontline elements in geopolitical games.

S&P Global: Hong Kong's business environment deteriorates, August PMI falls to 49.5, plunging back into contraction.

In August, Hong Kong's Purchasing Managers' Index (PMI) adjusted for seasonal factors fell from 51 last month to 49.5, reflecting a tightening business environment. Although the decline is not significant, it is the first time since May of this year.

A-share Opening Update | Shanghai Index Opens Up 0.29%, Travel Digital Media Leads the Gain

On September 3, the Shanghai Composite Index opened high, up 0.29% at 3952.79 points.

Is the "butterfly effect" in the currency market about to unfold? 41% hedging lays the groundwork for the accelerated depreciation of the US dollar, with $230 billion in sell orders poised to strike.

Some of the investors holding the most U.S. assets have almost no protective measures against a weakening dollar, posing a greater risk of a significant drop in the dollar if market sentiment suddenly shifts. As of June 30, these institutional investors had only hedged 41% of their foreign exchange risk exposure across various markets, including Japan and Canada, which is the lowest level at least since 2015.

CH BIOTECH SER (08037) subsidiary Pengbo Hospital has reached cooperation agreements with OncoCare Hong Kong Cancer Center and United Family Healthcare Group to jointly establish a cross-border referral mechanism, marking a new chapter in international medical cooperation in BNCT.

China Biotechnology Services Holdings (08037) subsidiary Pengbo Hospital has officially signed a contract with Hong Kong's leading oncology specialist organization OncoCare to establish a bidirectional referral mechanism.

Net profit soared 66% year-on-year, and the guidance for the next quarter far exceeded expectations, but it still wasn't enough! NetApp (NTAP.US) plummeted after hours, with investors closely monitoring free cash flow and the sustainability of growth.

After the market closed on September 2, Eastern Time, U.S. data storage and intelligent data infrastructure company NetApp announced its fiscal year 2027 first quarter financial report.

After the Hong Kong Stock Connect came into effect, why is DIAGENS-B (02526) considered the most worth-tracking AI stock for southbound funds?

The stock -B (02526), which is expected to be included in the Hong Kong Stock Connect in this adjustment, stands at the intersection of industrial transformation and capital preferences as the first stock of a global medical imaging large model.

A-share pre-market report | Oil price rise slows down, US stocks end three-day decline Dell Technologies, Inc. Class C (DELL.US) surges 16%, Broadcom Inc. (AVGO.US) experiences major volatility after hours.

After the surge in oil prices and subsequent retreat, the upward momentum has paused, leading to a cooling of inflation expectations.

Brokerage Morning Meeting Highlights | Focus on Directions with High Earnings Visibility

Huatai Securities believes that priority should be given to areas with high visibility of performance; CITIC Securities believes that while the economic recovery is materializing, it has suppressed valuations, and they are looking for positive variables in demand.

Short-term growth fades, but the long-term AI computing power blueprint is stunning! Major clients are igniting the ASIC supercycle, and Broadcom Inc. (AVGO.US) explosively forecasts a $230 billion AI semiconductor outlook.

Broadcom predicts a booming sales revenue for artificial intelligence chips in the next two years, which will help rekindle optimism about their potential to challenge NVIDIA's dominance in this lucrative market. CEO Chen Fuyang stated in a conference call that artificial intelligence chip revenue is expected to double by fiscal year 2027, reaching approximately $115 billion, and soar to $230 billion the following year.

Overnight US stocks | After Trump calmed the market, the rise in oil prices temporarily halted, and the three major stock indices saw widespread gains. Dell Technologies, Inc. Class C (DELL.US) rose over 15%.

As of the closing, the S&P 500 index rose 0.5%, reaching 7666.6 points; the Dow Jones Industrial Average increased by 0.6%, closing at 53061.95 points; the Nasdaq Composite index climbed 0.5%, ending at 26217.83 points.

AI server and network demand "explodes" and struggles to resolve supply chain issues Hewlett Packard Enterprise Co. technology (HPE.US) Q3 earnings exceeded expectations but still faced post-market shock.

On Wednesday after hours Eastern Time, Huiyu Technology announced its third-quarter results for the period ended July 31.

Federal Reserve Beige Book: Moderate Economic Expansion, Data Center Demand as Major Engine

The latest Beige Book report released by the Federal Reserve indicates that U.S. economic activity has exhibited moderate growth over the past two months, with particularly strong demand from data centers standing out as a major driving force behind the economy.

AKESO (09926): The interim analysis of the HARMONi-2 study comparing Atezolizumab with Palbociclib for first-line treatment of PD-L1 positive NSCLC has achieved the key secondary endpoint of overall survival with statistical significance and clinical benefit.

Kangfang Biotech (09926) announced that its independently developed globally first dual-specific antibody, Idatafar R (Ywosi, PD-1/VEGF), was compared with the monotherapy of Pembrolizumab in a randomized, double-blind, controlled, multi-center Phase III clinical study (AK112303/HARMONi-2) for the first-line treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) with PD-L1 expression positive (PD-L1 TPS 1%). The pre-specified interim analysis results for overall survival (OS) evaluated by an independent data monitoring committee (IDMC) showed that the study met the key secondary endpoint for OS, achieving statistically significant and clinically meaningful positive results.

CHINAGOLDINTL (02099) has been selected for the Hang Seng Growth Engagement Index and the Hang Seng Hong Kong Stock Connect Central State-Owned Enterprises Quality Index.

China Gold International (02099) announced that the company has been selected for the Hang Seng Composite MidCap Index and the Hang Seng Stock Connect Central Enterprise Quality Index. These changes will take effect after the market closes on September 4, 2026, and will be effective from September 7.

New Stock News | Rumor has it that The Dark Side of the Moon has secretly submitted its application to the Hong Kong Stock Exchange, officially starting its IPO.

According to reports, the dark side of the moon (Kimi) has submitted A1 documents to the Hong Kong Stock Exchange in a confidential manner, initiating the IPO process for Hong Kong stocks, while also advancing the final round of financing before the IPO with a pre-money valuation of $50 billion. Kimi declined to comment on this.

CH BIOTECH SER (08037): Pengbo (Hainan) Boron Neutron Hospital signed a cooperation agreement with Ankang, a member institution of Tianma Medical.

China Biotechnology Services (08037) announced that on September 2, 2026, its subsidiary Pengbo (Hainan) Boron Neutron Medical Technology Co., Ltd. (operating under the commercial name "Pengbo (Hainan) Boron Neutron Hospital") will establish a framework cooperation agreement with the Hong Kong Comprehensive Oncology Specialist Institution and the Tianma Medical Group member institution Ankang Medical Cancer Center (Ankang) regarding cross-border medical services, bidirectional referral, and related service cooperation for cancer patients.

The AI coding assistant ignites growth! Snowflake (SNOW.US) generously raises its full-year guidance beyond expectations, surging over 20% after hours.

The cloud data platform Snowflake surged significantly in after-hours trading on Wednesday, with its stock price jumping more than 20% at one point, after the company raised its full-year product sales guidance, significantly exceeding Wall Street consensus expectations, and highlighted the rapid penetration of its AI-assisted coding tool CoCo.

CUTIA-B(02487): The market authorization application for CU-20101 (Botulinum Toxin Type A for Injection) biological product has been accepted by the National Medical Products Administration.

Kedi-B (02487) announced that the group's CU-20101 (Injectable Type A Botulinum Toxin) Biologics License Application (BLA) has been accepted by the National Medical Products Administration of China, with an indication for the improvement of moderate to severe glabellar lines.

US Stock Market Move | Reports indicate that Trump will meet with the CEOs of major travel companies, leading to gains in the airline, cruise, resort, and casino sectors.

U.S. stock aviation, cruise, resort, and casino sectors rose.

The yen sharply rose by 1.2%! Doubts about U.S.-Japan intervention resurface, and the Bank of Japans rate hike in September is "just around the corner."

On Wednesday, the Japanese yen suddenly strengthened significantly against the US dollar, rising as much as 1.2% to 158.22 yen per dollar, quickly sparking market speculation that Japan, and even the US and Japan, might intervene in the foreign exchange market again.

US Stock Market Move | NVIDIA Corporation (NVDA.US) rose 3%. Management: If there are no supply constraints, FY28 business growth could exceed 100%.

On Wednesday, Nvidia (NVDA.US) rose by 3%, closing at $224.08.

A-share Evening Hotspots | A Major Reversal! U.S. Treasury Yields Plummet, Fed Rate Hike Path Dispute Resurfaces

On the evening of September 2, the yields on U.S. 2-30 year Treasury bonds fell significantly, while Dow Jones and S&P index futures recovered from intraday losses and turned positive. International oil prices dropped, and FTSE China A50 index futures surged.

The escalation of the trade war disrupts the pace of economic recovery as the Bank of Canada remains on hold for the seventh consecutive time.

The Bank of Canada maintained its benchmark interest rate at 2.25% on Wednesday for the seventh consecutive time, aligning with widespread market expectations.

US Stock Market Move | The concept of precious metals stocks rose across the board, with Coeur Mining, Inc. (CDE.US) up over 5%.

On Wednesday, precious metal concept stocks rose broadly, with Silvercorp Metals (SVM.US) up over 6%, and Coeur Mining (CDE.US) and First Majestic Silver (AG.US) both up over 5%.

US Stock Market Move | Meta (META.US) rose by more than 2% as the shadow of litigation dissipates, and the AI product pipeline may begin to accelerate.

On Wednesday, Meta (META.US) rose over 2%, reaching $592.77.

US Stock Market Move | Dell Technologies, Inc. Class C stock (DELL.US) rose nearly 9% as Q2 net profit surged over two times.

On Wednesday, Dell Technologies (DELL.US) rose nearly 9% to $462.67.

Federal Reserve's "Third-in-Command": The impact of tariffs is gradually fading, and inflation continues to show a downward trend.

Williams stated that there is evidence showing that as the impact of tariffs gradually fades, inflation continues to cool, and the rise in energy prices has not spread to other service sectors.

Small Non-Farm Payrolls "Disappoint"! U.S. ADP employment increased by only 38,000 in August, hitting a new low for the year.

According to data released by the ADP Research Institute on Wednesday, the number of private-sector jobs in the United States grew moderately in August. There were 38,000 new private jobs last month, while the July figure was revised up to 46,000.

KEYMED BIO-B (02162) has reached a licensing agreement for the registration and commercialization of siponimod injection in 18 countries and regions, including Southeast Asia and Central Asia.

Kangnuoya-B (02162) announced that Kangnuoya has signed an exclusive licensing agreement with multinational pharmaceutical company Aeira Pte. Ltd. (Aeira). Both parties will collaborate on the registration and commercialization of Kangnuoya's independently developed monoclonal antibody targeting IL-4RSipuqi Baiduan Injection (brand name: Kangyueda) in Southeast Asia and Central Asia.

After NVIDIA Corporation's performance has "broken the ice," Broadcom Inc. (AVGO.US) needs a similarly "big result" tonight to stabilize market confidence.

Tonight, Broadcom needs to present an impressive financial report like NVIDIA's to halt the decline after a market value evaporation of $520 billion.

VIVA GOODS (00933): Further acquisition of a total of 17,253,500 shares of LI NING Company.

Extraordinary Leap (00933) announced that on February 2, 2026, the acquirer (the company's wholly-owned subsidiary Extraordinary China Development Co., Ltd.) further acquired a total of 17,253,500 shares of Li Ning Company through the public market on the Stock Exchange.

OCUMENSION-B (01477): Completion of patient enrollment for the Phase III clinical trial of OT-211.

Eukangwei Vision Bio-B (01477) announced that the Phase III clinical trial of OT-211 (TRYPTYR Acarbose Eye Drops) conducted in the People's Republic of China has recently completed the enrollment of a total of 398 patients.

VICTORY SEC (08540) will distribute a mid-term dividend of HKD 0.012 per share on October 5.

Victory Securities (08540) announced that the company will distribute an interim dividend of HKD 0.012 per share on October 5, 2026.

Preview of US Stock Market | The three major stock index futures had mixed performance. Dell Technologies rose after its earnings report, and Broadcom announced its financial results after hours.

On September 2nd (Wednesday), before the U.S. stock market opened, the three major U.S. stock index futures were mixed.

JP Morgan: US Treasury yields nearing the 5% "warning line" could lead to a 5%-8% correction in the stock market.

Rising bond yields pose a major risk to global stock markets.

Selected Announcements from A-shares | A turning point has emerged! Sanan Optoelectronics' controlling shareholder's bankruptcy restructuring application has been withdrawn and approved by the court.

San'an Optoelectronics announced that its controlling shareholder's creditor, Lin Suzhen, has withdrawn the bankruptcy reorganization application against San'an Electronics and San'an Group.

GLOBAL BIO-CHEM (00809): Completion of Boiler Renovation Project and Commencement of Civil Engineering Works for Coenzyme Q10 Project

Da Cheng Bio-Tech (00809) announced the signing of the EPC contract for the boiler renovation project, as well as the cooperation agreement signed between its wholly-owned indirect subsidiary, Da Cheng Da He, and Shenzhou Bio-Tech Co., Ltd. (Shenzhou Bio-Tech) for the production of coenzyme Q10 mycelium (coenzyme Q10 project).

The Middle East situation and the selling pressure on British bonds led to the pound dropping to a three-week low.

On Wednesday, the pound fell to a three-week low against the stronger dollar, as investors closely monitored the escalating conflict in the Middle East and the renewed selling pressure in the UK bond market.

KEYTOP PARKING (02272) plans to implement full circulation of H shares.

Keto Group Co., Ltd. (02272) announced that on September 2, 2026, the company submitted an application to the China Securities Regulatory Commission to convert all of its issued 2.857 million unlisted shares with a par value of RMB 1.0 per share into H shares with a par value of RMB 1.0 per share, which will be listed on the main board of the Stock Exchange of Hong Kong. Upon obtaining all relevant approvals (including filing with and/or obtaining approval from the China Securities Regulatory Commission and the Stock Exchange) and complying with all applicable laws, regulations, and rules, the unlisted shares will be converted into H shares, and the company will apply for approval for the listing and trading of these H shares on the main board of the Stock Exchange of Hong Kong. According to the company's articles of association, there is no need to hold a shareholder meeting to approve the conversion and listing.

HAIXI PHARMA (02637): HX9428 has successfully completed Phase I clinical trials for neovascular age-related macular degeneration (nAMD) and submitted an Investigational New Drug (IND) application for a Phase IIa clinical trial for the new indication of diabetic macular edema (DME).

Haisi Xinyao (02637) announced that the candidate drug molecule HX9428 from its independently developed innovative drug project HXP056 has officially submitted a Phase IIa Investigational New Drug application (IND) to the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) of China on August 31, 2026, for the new indication of diabetic macular edema (DME). DME is the second indication being advanced for HX9428, marking another milestone in the development of this oral innovative drug for the treatment of eye diseases.

Hang Seng Index Company: The Hong Kong stock market (represented by the Hang Seng Composite Index) fell by 0.8% in August.

The Hang Seng Index Company announced that the Hong Kong stock market (represented by the Hang Seng Composite Index) fell by 0.8% in August.

HKEX: The total amount of cross-currency swap settlements cleared by the over-the-counter clearing company in the first half of the year reached $82.5 billion, setting a new historical high for the same period.

The Hong Kong Stock Exchange stated that in the first half of 2026, the development momentum of the Hong Kong fixed income and currency (FIC) market will continue to strengthen.

Latest

18/08

Citigroup: Initiates "Buy" rating for Zijin Mining International (02259), optimistic about production growth and gold price outlook.

18/08

Ganfeng Lithium: Progress on Subsidiary's Involvement in Investment Limited Partnership Matters

18/08

Zhichun Technology (603690.SH) plans to transfer part of its shares in the affiliated company Weidun Crystal Phosphate for 20 million yuan.

18/08

Xiamen Releases Twelve Measures to Promote Exchange and Cooperation with Taiwan

18/08

Yuncong Technology: The company is deeply involved in the national standardized pilot project "Shanghai Virtual-Real Integration Embodied Intelligence Training Ground" and the "Humanoid Robot Qilin Training Ground" project.

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