GMT EIGHT - OPPORTUNITIES IN CHINA

New Stock News | Guangzhou Tinci Materials Technology (002709.SZ) Hong Kong IPO Expected to Raise Up to Approximately HK$5.5 Billion

According to a disclosure by the Hong Kong Stock Exchange on March 27, Tinci Materials has once again submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with JPMorgan, CITIC Securities, and GF Securities as its joint sponsors.

Hong Kong Chief Secretary: Five-year plan and Policy Address are in the same vein and complement each other, charting the direction for Hong Kong's future development.

The two are in the same vein and complement each other, charting the direction for Hong Kong's future development and providing clear expectations for residents, the business sector, and investors.

New Stock News | Transwarp Technology (06727) IPO Subscription Closes with 47.7 Times Oversubscription, One Lot Entry Fee at HK$6,161.5

Transwarp Technology (06727) offered its shares for subscription from September 11 to 16. The subscription period has now closed, and the shares will be listed for trading on September 21.

Hong Kong's First Five-Year Plan and 2026 Policy Address Announced KPMG: Hong Kong Transforms into a "Super Partner" to Actively Serve the Country's Development Priorities

Li Lingde, Deputy Head Partner of KPMG China's Greater Bay Area Strategy and Development Center, said that under the national 14th Five-Year Plan, Hong Kong is further advancing from a "super connector" to a "super partner," moving beyond integrating into the country's overall development to further leveraging its own advantages and actively serving the country's development priorities.

The biggest worry in the bond market hasn't materialized yet! Goldman Sachs: Rising U.S. Treasury yields won't stop overseas buyers from flooding into U.S. corporate bonds.

Although U.S. Treasury yields have risen sharply this year, Goldman Sachs says overseas investors' demand for U.S. corporate bonds remains strong.

Report: Global Financial Centres Index - Hong Kong maintains third place globally, firmly holding the top spot in the Asia-Pacific region.

The UK's Z/Yen Group and the China (Shenzhen) Development Institute jointly released the 40th Global Financial Centres Index report, in which Hong Kong's overall ranking remained third globally and it continued to hold the top spot in the Asia-Pacific region.

Hong Kong SAR Chief Executive delivers the 2026 Policy Address: HKEX to launch an "offshore RMB bond index" (full text attached)

On September 16, John Lee, Chief Executive of the Hong Kong Special Administrative Region, delivered a new Policy Address and the first Five-Year Plan.

UK August CPI rises to 3.1%, a 5-month high; surging oil prices reinforce rate hike expectations.

UK August CPI rebounded to 3.1%, the highest since March, with petrol station fuel prices the main driver. Services inflation is stuck at 3.4%, and energy bills could rise 25% next year, making it increasingly difficult for the Bank of England to hold steady.

Surging oil prices whip up a yield storm! As the "anchor of asset pricing" hovers around 5%, high-grade bonds and quality cash flows like "Apple" return to the spotlight.

The investment dividing line seems to be shifting from "tech versus traditional industries" to "cash flow already realized versus still reliant on future financing and long-term promises."

The Hong Kong Policy Address focuses on five major development opportunities: talent development, industry development, corporate investment, institutional safeguards, and international cooperation.

On September 16, John Lee, Chief Executive of the Hong Kong Special Administrative Region, delivered his fifth Policy Address during his term, titled "Charting a Long-Term Course for the Overall Situation, Opening a New Chapter Through Reform, Promoting Development and Creating Opportunities, Benefiting People's Livelihood and Building for the Future."

From surgical Siasun Robot&Automation to extracorporeal organ support, Zhen Health Medical (02697) accelerates the expansion of its product matrix.

From the batch delivery of surgical robots to the first order landing for an extracorporeal organ support system, Zhen Health is walking on two legs: one is a mature pipeline that has already completed commercial validation, and the other is a frontier layout positioned for structural opportunities in the next five to ten years.

Don't fight the earnings cycle! Will the US stock market break 8,000 points this year?

Jefferies expects that, driven by the dual engines of an AI investment frenzy and corporate earnings rising above expectations, the S&P 500 is projected to surge to 8,000 points by the end of 2026 and further reach 9,000 points in 2027.

SoftBank CDS Approaches Three-Year High! OpenAI Financing Concerns Intensify as "Paper Wealth" Fails to Quench Cash Thirst

SoftBank Group's credit default swaps (CDS) are hovering near a three-year high. Traders are assessing the potential impact of OpenAI's financing plans, and OpenAI is one of SoftBank's largest bets.

The 5% US Treasury yield storm is here! The refinancing bomb countdown has begunwho will be the first casualty?

The 10-year US Treasury yield has broken 5%, hitting a new high since 2007. The longer high interest rates persist, the greater the refinancing pressure on real estate developers, commercial real estate, and highly indebted companies, and systemic risks may accelerate within 12 to 18 months.

Hong Kong SAR's first five-year plan unveiled! Anchoring the development direction for the next five years, comprehensively advancing the "AI+" initiative (full text attached)

On September 16, John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030).

Hong Kong SAR's first five-year plan officially released: Artificial intelligence will be an important industry for future development.

On September 16, John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced the "First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)."

Hollywood is brewing a "film and television production reshoring"! The U.S. economy's "soft landing" gets a boost from a $249.1 billion film and television incentive blueprint.

A study shows that federal incentives for film and television production will generate $249.1 billion in revenue for the U.S. economy by 2035 and add 143,500 full-time jobs. The Motion Picture Association of America has been working with Hollywood unions to launch a campaign for national incentives to better compete with markets such as the United Kingdom and Australia.

A-share Midday Review | ChiNext Index rises 2.35%, semiconductor industry chain sees wave of limit-up stocks

The market shows a structural divergence pattern of "technology growth stocks leading gains, with the semiconductor industry chain strengthening across the board."

Commodity futures morning session close

Bottle chip futures rose 3.20% for a consecutive session, rapeseed meal futures rose 3.02% for a consecutive session, lithium carbonate futures fell 2.56% for a consecutive session, soybean meal futures rose 2.52% for a consecutive session, butadiene rubber futures rose 2.52% for a consecutive session, silver futures rose 2.45% for a consecutive session, No. 2 soybean futures rose 2.30% for a consecutive session, asphalt futures rose 2.25% for a consecutive session, and staple fiber futures rose 2.22% for a consecutive session.

HKD interbank rates rise broadly; 1-month rate up for fourth straight day at 2.95%, a more than two-month high.

On September 16, HKD interbank rates rose broadly, with the one-month rate linked to mortgage loans reported at 2.95000%, up 3.744 basis points.

The Shenzhen Component Index rose 1.01%, now at 13422.186 points; the Shanghai Composite Index rose 0.30%, now at 3875.776 points; the ChiNext Index rose 1.82%, now at 3307.017 points.

US pressure intensifies! Nearly 90% of economists bet the Bank of Japan will raise rates to 1.25% on Friday.

Amid inflation and US pressure, nearly 90% of experts expect the Bank of Japan to raise rates by 25 basis points to 1.25% on Friday ahead of schedule, intensifying volatility in the yen exchange rate.

Spot gold rises 1%, reported at $4,333.64 per ounce.

From January to August, national railway fixed asset investment reached 511.8 billion yuan, a year-on-year increase of 1.5%.

Since the beginning of this year, railway construction has been steadily advancing. From January to August, national railway fixed asset investment reached 511.8 billion yuan, a year-on-year increase of 1.5%.

From January to August, national railway fixed asset investment reached 511.8 billion yuan, a year-on-year increase of 1.5%.

Since the beginning of this year, railway construction has advanced steadily. From January to August, national railway fixed asset investment reached 511.8 billion yuan, up 1.5 percent year on year. The modern railway infrastructure system is being built at a faster pace, effectively driving the development of related industries and boosting incomes and employment, and injecting new momentum into expanding domestic demand and stabilizing growth.

Spot gold breaks through $4,320/oz, up 0.64% on the day.

$44.8 million per ship! Cost of shipping U.S. crude oil to Asia hits record high

As disruptions to Middle East supply intensify and buyers rush to lock in energy sources, the cost of shipping U.S. crude oil to Asia has soared to a new record.

U.S. Treasury "extreme bears" assemble! Under the "double squeeze" of oil prices and U.S. Treasury yields, rate hike expectations are maxed out, and the market is betting real money on a new round of tightening.

In the view of some veteran Wall Street analysts, a combination more conducive to market digestion would be a modest rate hike paired with a clear data-dependent stance, allowing investors to interpret it as a limited and moderate monetary policy adjustment to guard against a resurgence in inflation.

After the earnings report was disclosed, the stock price "fell + consolidated at a low level." Why did Cofoe Medical Technology (01187) fail to see a good stock price despite higher revenue and profit?

On August 28, Cofoe Medical Technology (01187) disclosed its 2026 H1 financial report. During the reporting period, the company achieved revenue of 2.072 billion yuan, a year-on-year increase of 38.51%, far exceeding the industry average growth rate (6.5%), of which the company's overseas business revenue was 210 million yuan, a year-on-year increase of 116.97%; at the same time, the company's gross profit margin improved for three consecutive years, reaching 55.89%; the current net profit attributable to the parent company was 202 million yuan, a year-on-year increase of 20.84%.

Two departments: By 2027, the foundational system for civil aviation data will be gradually improved, and the industry's data governance capabilities will be significantly enhanced.

Recently, the Civil Aviation Administration of China and the National Data Administration jointly issued the "Implementation Plan for the Construction of the Civil Aviation Data Governance System" (hereinafter referred to as the "Implementation Plan").

US Reportedly Pushes Japan to "Step Up" Defense Spending; Tokyo Weighs 3.5% GDP Target as Bond Market and Yen Come Under Pressure First

Under pressure from the United States, Japan is considering setting a new medium-term defense spending target, planning to raise defense spending to 3.5% of gross domestic product (GDP), aligning with NATO and other U.S. allies.

A-share Market Open Express | The three major indices opened slightly lower, while the STAR 50 opened higher against the trend.

On September 16, the Shanghai Composite Index opened 0.07% lower at 3861.75 points, the Shenzhen Component Index opened 0.08% lower at 13276.85 points, and the ChiNext Index opened 0.03% lower at 3246.89 points.

The logic of the yen's "cheap funding" has changed! Capital is repositioning for "Carry Trade" as the Swiss franc and Swedish krona compete for the funding currency slot.

The appeal of yen funding has weakened, and carry traders have recently turned their attention to the franc and the krona. As the yen's recent surge has made it no longer a reliable investment option, currencies such as the Swedish krona and the Swiss franc are becoming the main funding choices for carry trades.

Surge in chip shipments underpins the foundation of foreign trade! Japan's exports achieve steady growth for 12 consecutive months.

Strong semiconductor demand drove a 19.3% surge in Japan's August exports, but high oil prices and a weak yen widened the trade deficit to 1.1 trillion yen.

Jiayin Technology (JFIN.US) holds 500 million in cash in the first half of the year, betting on overseas markets as the key to breaking through

Jiayin Technology (JFIN.US) released its financial report for the first half of 2026, during which it achieved revenue of 1.494 billion yuan, gross profit of 613 million yuan, and a gross margin of 41.03%.

White House pressure fails to stop hawkish shift! Fed rate hike is imminent, Warsh's relationship with Trump faces a major test.

The Fed is expected to raise rates by 25 basis points on Wednesday, the first since 2023; market bets put the probability above 90%, and the White House's relationship with Warsh faces a test.

A-share Pre-market Briefing | Oil price surge combined with U.S. Treasury storm; U.S. stocks continue to adjust; commercial space sector welcomes another key catalyst.

China's Taiyuan Satellite Launch Center used the Gravity-1 Y3 carrier rocket in the eastern waters off Shanghai to successfully send a total of 9 satellites into their planned orbits, including the Qianfan Polar Orbit 26 constellation satellites and the EUHT technology test satellite. The flight test mission achieved complete success.

Major shareholder increases stake alongside equity incentive plan, DPC DASH (01405) takes multiple measures to convey long-term confidence.

After delivering a solid interim financial report, DPC DASH (01405) has recently released a series of positive market signals: its core major shareholder has continued to increase its stake, while the company is simultaneously advancing an equity incentive plan, further focusing on long-term value returns through arrangements such as options and share awards.

Brokerage Morning Meeting Highlights | Server brand OEM share accelerates expansion

CITIC Securities believes that the intensive implementation of insurance policies is systematically reshaping the development landscape; CITIC Securities Construction Investment believes that the performance of the military industry sector continues to recover; Open Source Securities believes that the share of server brand OEMs is accelerating its expansion.

The "AI slowdown theory" cannot stop the financing frenzy of model giants! The advent of Astra sparks heated discussion on AGI, OpenAI aims for a $1.2 trillion valuation.

OpenAI is in early talks with investors about a new round of financing that would value the ChatGPT creator at more than $1.2 trillion, after which the company would hold an initial public offering.

The "AI slowdown theory" collides with the 5% "anchor of global asset pricing," and tech risks surge! Wells Fargo redraws the U.S. equity investment landscape, downgrading its S&P 500 target.

Wells Fargo strategist Ohsung Kwon lowered his year-end target outlook for the S&P 500, saying the decade-long earnings growth cycle will eventually slow, while risks in the tech sector are mounting.

Jiangsu Hengrui Pharmaceuticals (01276): HRS-4139 Tablets Receive Drug Clinical Trial Approval Notice

Jiangsu Hengrui Pharmaceuticals (01276) announced that recently, Fujian Shengdi Pharmaceutical Co., Ltd., a subsidiary of Jiangsu Hengrui Pharmaceuticals Co., Ltd. (hereinafter referred to as the "Company"), received the Drug Clinical Trial Approval Notice for HRS-4139 Tablets approved and issued by the National Medical Products Administration (hereinafter referred to as the "NMPA"), and will commence clinical trials in the near future.

Jiangsu Hengrui Pharmaceuticals (01276): Recaticimab for Injection Receives Drug Clinical Trial Approval Notice

Jiangsu Hengrui Pharmaceuticals (01276) announced that recently, Guangdong Hengrui Pharmaceuticals Co., Ltd., a subsidiary of Jiangsu Hengrui Pharmaceuticals Co., Ltd. (hereinafter referred to as the "Company"), received the Drug Clinical Trial Approval Notice issued by the National Medical Products Administration (hereinafter referred to as the "NMPA") for Recaticimab for Injection, and will commence clinical trials in the near future.

SBP GROUP (01177): New Drug Application for TQH2722 Injection "IL-4R monoclonal antibody" accepted

China Biopharmaceutical (01177) announced that the New Drug Application (NDA) for TQH2722 Injection "IL-4R monoclonal antibody", a Class 1 innovative drug independently developed by the Company's subsidiary Chia Tai Tianqing Pharmaceutical Group Co., Ltd. (Chia Tai Tianqing), has been submitted to and accepted by the Center for Drug Evaluation (CDE) of China's National Medical Products Administration, for the treatment of moderate-to-severe atopic dermatitis (AD) in adults whose condition is inadequately controlled with or unsuitable for topical therapies.

HK Stock Concept Tracker | Major Boost for Cultural Tourism! Holiday Travel Bookings Soar: Long-Haul Trips on the Rise, Service Consumption Accelerates Penetration (with Concept Stocks)

Domestic flight bookings for the Mid-Autumn Festival and National Day holidays have increased, long-haul travel is gaining popularity, and hotel bookings are accelerating.

SBP GROUP (01177): New drug marketing application for TQB2102 injection, a "HER2 bispecific epitope bispecific antibody ADC", has been accepted

China Biopharmaceutical (01177) announced that the New Drug Application (NDA) for TQB2102 injection, a Class 1 innovative drug independently developed by the Company's subsidiary Chia Tai Tianqing Pharmaceutical Group Co., Ltd. (Chia Tai Tianqing), has been submitted to and accepted by the Center for Drug Evaluation (CDE) of China's National Medical Products Administration. TQB2102 injection is a "HER2 bispecific epitope bispecific antibody ADC" intended for adult patients with unresectable or metastatic HER2-low expression (IHC 1+ or IHC 2+/ISH-) breast cancer who have not received prior chemotherapy in the recurrent or metastatic disease setting. This indication has previously been granted Breakthrough Therapy Designation by the CDE.

A trillion-dollar defense budget is on the horizon, Guggenheim is pushing defense stocks, and L3Harris Technologies (LHX.US) has become the top large-cap pick.

Guggenheim Securities recently initiated coverage on 22 aerospace and defense companies, with an overall tone of bullish on defense contractors and aircraft manufacturers, but cautious on commercial aviation aftermarket suppliers.

Wall Street giants' trading businesses show a tale of two extremes: JPMorgan (JPM.US) expects Q3 results to soar, while Bank of America Corp (BAC.US) warns of a slowdown.

JPMorgan predicts that third-quarter trading and investment banking revenues will see double-digit growth, spurring a rebound in its stock price. Previously, Bank of America Corp had warned of flat revenue due to a pullback in financing, triggering a sell-off in the sector.

Overnight US stocks | The three major indices fell for the second consecutive day, the 10-year U.S. Treasury yield rose to its highest level since 2007, and WTI crude oil surged 4%.

At the close, the Dow fell 328.09 points, or 0.63%, to 52,093.10; the S&P 500 Index dropped 34.25 points, or 0.45%, to 7,585.73; and the Nasdaq declined 204.84 points, or 0.78%, to 25,981.57.

Rate decision imminent: markets bet on a 94% probability of a rate hike; holding steady could be the biggest "dovish surprise" in over 30 years.

As the Federal Reserve prepares to announce its rate decision on Wednesday, bond traders have all but concluded that a rate hike will be the final outcome.

Latest

2 m ago

Intel (INTC.O) rose 5.8% in premarket trading, while SK Hynix gained 3.2%, following reports that SK Hynix held talks with the company for the first time regarding memory chip manufacturing in the United States.

6 m ago

SK Hynix (SKHY.US) reportedly plans to manufacture memory chips in the U.S. for the first time, leasing Intel's (INTC.US) Ohio plant or forming a joint venture.

7 m ago

USD Bond Movement | Shimao Group SHIMAO 2 07/21/32 price fell 57.45% to 0.520.

8 m ago

Shankong Intelligent (300897.SZ) won the bid for a related equipment procurement project worth 23.1484 million yuan.

10 m ago

Tianyi Medical (301097.SZ) subsidiary obtains drug registration certificates for multiple new products.

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