GMT EIGHT - OPPORTUNITIES IN CHINA

Iranian Foreign Minister Araghchi will visit China.

The spokesperson of the Ministry of Foreign Affairs announced that Iranian Foreign Minister Araghchi will visit China on May 6 at the invitation. Wang Yi, a member of the Political Bureau of the Central Committee of the Communist Party of China and Minister of Foreign Affairs, will hold talks with him.

PayPal's adjusted operating income for the first quarter was $15.4 billion, exceeding the estimated $14.6 billion.

After COINBASE announced layoffs, the stock price rose 4.6% in pre-market trading.

Narrative shift! The situation in the Middle East is stirring again, and the upward trend in emerging markets has come to a sudden stop.

The currency and stock benchmark indices of developing economies are falling.

Pfizer reported first-quarter revenue of $14.45 billion, beating the estimated $13.84 billion.

Calgary Property Management: In early May, the transaction amount of new properties in Hong Kong has exceeded HKD 100 billion, setting the record for the fastest growth.

Cen Songqian, an analyst at Colliers International, pointed out that this year's new development market has shown strong performance, with purchasing power continuing to increase. In early May of this year, the transaction amount of first-hand private residential properties has already exceeded HK$10 billion, setting a new record for the fastest pace.

Weakened Japanese Yen "adding insult to injury"! Bearish fundamentals still prevail, IMF rules limit intervention to only two more times in six months.

According to the rules of the International Monetary Fund, Japan still has two opportunities within the next six months to intervene in the yen.

New high for the same period! Foxconn's April revenue increased by nearly 30% year-on-year, with strong demand for AI servers.

Artificial intelligence server business growth drives Hon Hai's April sales up 30% year-on-year.

Not optimistic about eBay's acquisition! "Big short" Burry quickly clears out GameStop Corp. Class A (GME.US).

Boris sold all his shares of GameStop (GME.US) that he held.

Brent crude oil fell below $112 per barrel, dropping by 2.19% intraday.

In the first quarter of 2026, Hong Kong's GDP increased by 5.9% year-on-year in real terms.

On May 5th, the Hong Kong government's census and statistics department released the preliminary estimate of the local gross domestic product for the first quarter of 2026.

BYD: The sales volume of new energy vehicles in April 2026 decreased year-on-year.

BYD announced that in April 2026, the company's production of new energy vehicles was 322,298 units, a year-on-year decrease of 16.19%, with a total production of 1,030,335 units for the year, a year-on-year decrease of 28.56%; sales were 321,123 units, a year-on-year decrease of 15.51%, with a total sales of 1,021,586 units for the year, a year-on-year decrease of 26.02%. The total export of new energy vehicles in April was 135,098 units. The total installed capacity of new energy vehicle power batteries and energy storage batteries in April 2026 was approximately 20.977GWh, with a cumulative total installed capacity of approximately 81.192GWh in 2026.

Hong Kong Land Registry: The total value of residential building sales contracts in April increased by 50.9% year-on-year.

The total value of residential building sales contracts in April was HKD 63.7 billion, an increase of 15.4% compared to the previous month and an increase of 50.9% compared to the same period last year.

American emergency medical services provider GMR Solutions (GMRS.US) prices IPO at $22-25 per share, aiming to raise $750 million.

GMR Solutions (GMRS.US) announced the terms of its initial public offering (IPO) on Monday.

Alphabet (GOOGL.US) returns to the European bond market: reported plan to raise 3 billion euros. The global financing map expands again under the backdrop of AI expenditures reaching one trillion.

Alphabet returns to the Eurobond market, issuing the latest large-scale artificial intelligence bond.

Midland Realty: Number of primary residential properties registered in Hong Kong in April reached a 24-month high, while the amount reached a 10-month high.

In terms of private residential properties, there were a total of 2,577 transactions amounting to 287.9 billion yuan during the period, representing a significant increase of 82.2% and 57.8% compared to the previous period. The number of transactions reached a 24-month high, while the total amount reached a 10-month high.

Palantir's pre-market drop of over 2% in US stock market

Palantir's pre-market stock price fell more than 2%. Palantir reported revenue of $1.63 billion in the first quarter, higher than analysts' expectations of $1.54 billion; the adjusted earnings per share in the first quarter was $0.33, surpassing analysts' expectations of $0.28.

The Reserve Bank of Australia has raised interest rates for the third time in a row. Brock hinted at hitting the "pause button."

The Reserve Bank of Australia has raised the key interest rate for the third consecutive time, in line with market expectations.

Hormuz reignites the war, the market tense, the futures market predicts that Brent prices will fall below $90 by the end of the year.

Iran and the United States clashed in the Strait of Hormuz, and the ceasefire agreement between the two sides showed signs of cracking.

Goldman Sachs warns: Global oil inventories approach an eight-year low, consumption rate is worrisome.

Goldman Sachs' latest report points out that global oil inventories have fallen to near their lowest levels in almost eight years, warning that the rate of inventory depletion is becoming a worrying issue.

European stocks opened lower, with the German DAX index down 1.24%, the UK FTSE 100 index down 0.14%, the French CAC 40 index down 1.71%, the Euro Stoxx 50 index down 2%, and the Italian FTSE MIB index down 1.59%.

Rising oil prices push Indian rupee to historic low Analysts: Central bank may restart intervention "script" from 2013

As the Middle East conflict escalates and pushes up crude oil prices, the Indian rupee has fallen to a historic low. Analysts are beginning to consider whether the central bank will pick up its 2013 policy toolbox to support the currency.

HK Stock Market Move | Huaqin Co., Ltd. (03296) rose more than 8% in the first quarter, with strong earnings growth. It is expected to contribute to performance growth starting from the second half of the year.

Huaxin Technology (03296) rose more than 8% in the afternoon, with a 7.87% increase to HK$98.7 at the time of the announcement, with a turnover of HK$1.85 billion.

Interest rates for Hong Kong dollars in the interbank market have generally increased. The one-month interbank rate is reported at 2.49%.

On May 5th, the Hong Kong Dollar Interbank Offered Rate generally increased, with the one-month rate related to mortgage loans rising by 4.577 basis points to 2.48887%.

Australia's family spending growth reaches a two-year high, as oil price shocks increase pressure on the central bank to resist inflation.

After the outbreak of the Iran war, the surge in gasoline prices pushed up Australia's household spending growth rate in March to its fastest pace in two years, complicating the efforts of the Australian central bank to cool down the economy.

Hong Kong stock market mid-day report: Hang Seng Index fell by 1.16%, Hang Seng Technology Index fell by 1.83%

At the midday closing of the Hong Kong stock market, the Hang Seng Index fell by 1.16% and the Hang Seng Tech Index dropped by 1.83%. In terms of sectors, industrial group companies and semiconductor products and equipment sectors were among the top gainers, while the communication equipment and automotive sectors saw significant declines. As for individual stocks, Tianxing Medical rose by 132.49%, Quantitative Party rose by 9.35%, Yijun Group Holdings rose by 8.4%, Huaqin Technology rose by 8.2%, and Yu Hang Bay Holdings rose by 7.81%. On the other hand, Qunhe Technology fell by 7.19%, Easy Health fell by 7.05%, Rupulunjun fell by 6.42%, Wuyi Vision fell by 6.25%, and Sailisi fell by 6.17%.

HSBC Bank's pre-tax profit for the first quarter was $9.38 billion, lower than the previously expected $9.59 billion.

HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) fell over 6% to hit a near 7-month low, with several institutions lowering their target price after the performance.

China International Travel Service Corporation Limited (01880) dropped more than 6%, hitting 59.2 Hong Kong dollars, the lowest since October last year.

Goldman Sachs: The future lithium cycle will be driven by demand, and it is expected that lithium carbonate prices will peak in the first half of this year.

Ganfeng Lithium (01772) target price raised from HK$35 to HK$60, rating "Sell"; Tianqi Lithium (09696) target price raised from HK$26 to HK$48, rating "Sell".

New stock news: Sturgeon Technology files for listing on Hong Kong Stock Exchange as the world's largest caviar company.

According to the disclosure of the Hong Kong Stock Exchange on May 4th, Hangzhou Qian Dao Lake Xunlong Technology Co., Ltd. (hereinafter referred to as Xunlong Technology) has submitted its listing application to the main board of the Hong Kong Stock Exchange. China CITIC Securities and CITIC Securities International are acting as joint sponsors.

OpenAI co-founder discloses holdings worth nearly $30 billion, with deep financial ties to Ultraman.

OpenAI co-founder and president Greg Brockman revealed in court on Monday that his financial relationship with CEO Sam Altman is even closer than previously known.

Bank of America Securities: Raised Wuxi Lead Intelligent Equipment (00470) target price to HKD 64, company indicated improvement in gross profit margin.

The target price has been raised from HKD 57 to HKD 64, with a reiterated "buy" rating.

New stock news | Jiangxi Bioscience submits documents to Hong Kong Stock Exchange as China's largest provider and exporter of human tetanus antitoxin.

According to the disclosure of the Hong Kong Stock Exchange on May 4, Jiangxi Biological Products Research Institute Co., Ltd. (referred to as Jiangxi Biological) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation and CMB International Securities as joint sponsors.

Venezuelan Central Bank: Inflation rate in April dropped to 10.6%, with an annualized inflation rate still as high as 611.86%.

The Central Bank of Venezuela released data on Monday showing that the country's inflation rate for April fell from 13.1% in the previous month to 10.6%.

UBS: YOFC (06869) reporting below market expectations for the quarter, but optimistic about future earnings growth over the next few quarters.

Maintain a profit forecast and target price of HKD 290 for Changfei Fiber Optic Cable (06869); maintain a "buy" rating.

HK Stock Market Move | Montage Technology (06809) surges over 7% to a new high, the company is expected to fully benefit from the surge in demand for high-speed storage driven by the AI wave.

Lianqi Technology (06809) rose more than 7%, leading a group of storage concept stocks, reaching 293 Hong Kong dollars this morning, hitting a new high since its listing.

HK Stock Market Move | Middle East tension escalates, oil prices surge again. Shandong Molong Petroleum Machinery (00568) rose more than 5%

Some oil and gas stocks rose against the market trend, as of the time of writing, Shandong MOLONG (00568) rose 5.51%, to HK$8.81.

HK Stock Market Move | Contemporary Amperex Technology (03750) rose by over 4% in a bear market. Morgan Stanley is optimistic about the company's accelerated business performance and has raised the target price to 815 Hong Kong dollars.

CATL (03750) rose more than 4% against the market this morning. As of the time of writing, it has increased by 4.04%, reaching 657 Hong Kong dollars, with a trading volume of 8.67 billion Hong Kong dollars.

New stock on the first day | Tianxing Medical (01609) listed for the first time with a high open of 192.39% in the morning. The company is a domestic provider of sports medical implants and devices.

Tianxing Medical (01609) made its debut on the stock market. The announcement shows that the price per share is 98.5 Hong Kong dollars, with a total of 8.4219 million shares issued, in lots of 50 shares each. The net proceeds from the offering are approximately 758.4 million Hong Kong dollars.

Tianjin Star Medical Company Limited opened at 288 Hong Kong dollars, with an IPO price of 98.50 Hong Kong dollars.

ON Semiconductor Corporation (ON.US) exceeded expectations in Q1 with data center revenue increasing by a staggering 30% compared to the previous quarter.

Analog chip manufacturer ON Semiconductor (ON.US) announced its first quarter financial performance for 2026 after the market closed on Monday.

Citigroup: Initiates positive catalyst watch on CHINA OVERSEAS (00688) with strong sales expected to continue in the next quarter

Sales in the first quarter of this year were strong, reaching 51.1 billion RMB, a year-on-year increase of 11%. The bank expects sales to remain strong in the second quarter following strong sales in March.

New Stock News | Sterlitech Technology Submits Application to Hong Kong Stock Exchange Again

According to the disclosure on the Hong Kong Stock Exchange on May 4th, Hangzhou Qiandaohu Xunlong Technology Co., Ltd. (referred to as Xunlong Technology) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities and CITIC Securities International as joint sponsors.

New Stock News | Jiangxi Biotechnology Submits Documents to the Hong Kong Stock Exchange for the Third Time

According to the Hong Kong Stock Exchange disclosed on May 4th, Jiangxi Biological Products Research Institute Co., Ltd. (referred to as Jiangxi Bio) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and CMB International as joint sponsors.

Oaktree Capital Co-CEO: Market pricing is puzzling, fundamental risks are severely underestimated.

Oaktree Capital Management's co-CEO warned that the market is digesting fundamental issues too quickly. The abundant liquidity post-pandemic and strong corporate historical performance are encouraging investors to turn a blind eye to potential economic data.

Net profit surged nearly fourfold, and annual guidance was increased again! Palantir's (PLTR.US) US business had a "surge" in the first quarter, but commercial sales left regrets.

Palantir Technologies' first quarter revenue increased by 85% year-on-year to $1.63 billion, marking the highest growth rate since going public. However, commercial sales revenue in the United States slightly fell short of expectations, becoming the "shadow" in this financial report.

The US and Iran clashed over control of the Strait of Hormuz, with Trump threatening to "blow up" the area. Since the ceasefire, the UAE was attacked for the first time, but Iran claimed they did not plan the attack on the UAE.

The US military said that it assisted two ships flying the American flag in successfully passing through the Strait of Hormuz, opening a free passage channel in the strait. Trump claimed to have sunk 7 Iranian small boats. The US Treasury Secretary said that the US has fully controlled the strait, and US military actions to guide the strait will lower oil prices. Some large oil tankers stranded in the strait each carry 2 million barrels.

HK Bull/Bear Outstanding Qty Ratio(65:35) | May 5th

As of May 5th, the latest bull-bear ratio of the Hang Seng Index is 65:35.

Hong Kong stock concept tracking | Cloud service providers raise prices and enter the computing power leasing market (with concept stocks)

Cloud providers increase prices and land: gradually advancing from the second quarter, realizing most of the revenue within the year.

New York Fed President: Middle East conflict delays rate cut timing, no clear reason for short-term rate hike.

New York Federal Reserve President Williams said that if inflation falls as expected to the Fed's 2% target level, interest rates "will need to be lowered at some point," but current inflation pressures are higher than previously expected, which may delay the timing of rate cuts.

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2 m ago

(01299.HK) spent 149 million Hong Kong dollars to repurchase 1.746 million shares on May 5th.

2 m ago

Raymond James: Reducing DoorDash's target price from $275 to $225.

2 m ago

Kf Health's dark pool trading rose by 1.75%, earning HK$69 per share.

3 m ago

According to the disclosure in the Hong Kong Stock Exchange documents, AIA Group repurchased 1.7 million shares on May 5th, with a total repurchase amount of HK$1.489 billion.

4 m ago

British bonds face selling, 30-year yields reach new highs since 1998.

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