GMT EIGHT - OPPORTUNITIES IN CHINA

Is the myth of "risk-free assets" being shaken? The soaring US bond yields have raised market concerns. HSBC warns that we have entered a "danger zone."

US treasuries have always been seen as the most core "risk-free asset" in global financial markets, but as yields continue to soar, more and more Wall Street institutions are starting to reexamine this traditional perception.

Wall Street looks forward to the "AI super bull market" sequel! From the strongest profit in the S&P in five years to Rubin's grand vision, AI computing power beyond GPU is skyrocketing.

The S&P 500 index is expected to see its strongest profit growth in five years, with 83% of companies outperforming analyst expectations. After rebounding 18% from its lows caused by the war, the S&P 500 index is poised to achieve eight consecutive weeks of gains.

US Stock Market Move | Quantum computing concept stocks continue to be strong, Infeqtion (INFQ.US) rose nearly 20%

On Friday, conceptual stocks related to quantum computing continued to show strength.

Wash is about to be sworn in as the chairman of the Federal Reserve. The market hawkish signal continues to heat up. Director Waller said that the probability of a rate hike or cut is "50-50".

President Trump will soon preside over the swearing-in ceremony of Kevin Warsh as the Chair of the Federal Reserve.

A-share evening hot topic | Tiger, Futu, and Changqiao will be fined! Eight departments jointly take action to regulate illegal cross-border securities and futures fund management activities.

On May 22, the China Securities Regulatory Commission (CSRC) issued an official announcement stating that CSRC has lawfully initiated investigations into Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong), and Changqiao Securities (Hong Kong) and related entities for their illegal securities business operations in China, and has informed them in advance of the administrative penalties to be imposed.

US Stock Market Move | Space concept stocks were active in early trading, with Redwire (RDW.US) rising by over 15%.

On Friday, space concept stocks showed active performance at the beginning of trading.

High oil prices and inflationary pressures continue to impact economic expectations, causing consumer confidence in the United States to fall to a record low in May.

American consumers' pessimism about the economic outlook is further intensifying.

UP Fintech Holding Ltd. Sponsored ADR Class A(TIGR.US): Subsidiary fined 308.1 million yuan by Beijing regulator for conducting illegal activities such as unlicensed cross-border securities business.

On May 22, the China Securities Regulatory Commission announced that it would strictly investigate and crack down on cases of illegal cross-border operations by institutions such as Tiger.

Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) responds to regulatory penalties: will actively cooperate with the relevant work of the China Securities Regulatory Commission.

On May 22, the China Securities Regulatory Commission announced that it will strictly investigate and deal with illegal cross-border business activities by institutions such as Futu.

New stock news | Autel Intelligent Technology Corp., Ltd. (688208.SH) plans to launch an IPO in Hong Kong. The China Securities Regulatory Commission requires supplemental information on the latest developments in the company and its domestic subsidiaries' litigation cases.

The China Securities Regulatory Commission has requested Daotong Technology to provide supplementary explanations on the latest developments of the company and its domestic subsidiaries' ongoing litigation cases, whether they constitute substantial obstacles to the overseas issuance and listing, and whether the relevant pending lawsuits have been adequately disclosed.

New Stock News | Zhi Ling Biology plans to list on the Hong Kong Stock Exchange, the China Securities Regulatory Commission requires additional clarification on whether the business involves large-scale AI models, etc.

The China Securities Regulatory Commission requires Ze Ling Biological to provide additional information on whether its business involves AI large models, etc.

New Stock News | Micro-Electric New Energy plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional clarification on the pricing basis for previous rounds of capital increases and equity transfer.

The China Securities Regulatory Commission requires Weidian New Energy to provide supplementary explanations on the basis for each previous capital increase and equity transfer pricing, whether actual capital contributions have been made, whether there are any unfulfilled capital contribution obligations, capital embezzlement, flaws in capital contribution methods, and so on.

New stock news | Guangdong Shushuzi plans to list on the Hong Kong stock market. China Securities Regulatory Commission requires supplementary explanations on the compliance of previous changes in equity ownership.

The China Securities Regulatory Commission requires Yue Shishu to supplement the compliance of historical equity changes and other matters.

US Stock Market Move | Termination of merger with Puig causes Estee Lauder Companies Inc. Class A (EL.US) to open with a surge of over 13%.

On Friday, Este Lauder (EL.US) opened with a big increase of over 13%, marking the largest intraday gain since April 2025, and is now trading at $87.68.

New Stock News | Tongbo Technology Plans to List on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires supplementary explanations on the compliance of previous equity changes.

The China Securities Regulatory Commission requires Tongbo Technology to supplement explanations on the compliance of historical equity changes and other matters.

New Stock News | Chaos Plans Hong Kong Stock IPO CSRC Requires Supplemental Information on Overseas Subsidiaries of the Company

The China Securities Regulatory Commission requires Chaos to provide additional information on the situation of its overseas subsidiaries, the specific fulfillment of regulatory procedures such as overseas investments and foreign exchange registration, and issue conclusive opinions on compliance.

New Stock News | Qinhao Pharmaceuticals intends to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional information on the company's net assets data for the past three years, among other matters.

The China Securities Regulatory Commission requires Qinghao Medicine to supplement the company's net assets, net profit data, and other matters for the past three years.

When the price of copper follows the AI computing power industry chain to dance, the fate of copper and the global AI boom are already bound together.

Due to investors betting on the skyrocketing electricity demand in the artificial intelligence field driving a surge in copper demand, the trading price of copper has been soaring like popular tech stocks. The application of copper in power transmission lines, transformers, and electrical equipment required for artificial intelligence has become a key pillar for the bullish outlook on copper prices, far outweighing concerns about the impact of the Iran conflict on traditional industrial demand.

New stock news | Xinji Pharmaceuticals plans to list on the Hong Kong stock exchange. The China Securities Regulatory Commission requires additional clarification on the reasons and rationale for the lack of substantial business activities in 4 of the company's 7 subsidiaries.

The China Securities Regulatory Commission requires Xinqi Pharmaceutical to provide additional explanation on the reasons and rationality for the lack of substantive business activities in four out of seven subsidiary companies. It also requires clarification on whether the shares held by shareholders participating in the "full circulation" plan are subject to pledges, freezes, or other defects in rights.

New Stock News | China's Zhongyin Microelectronics Plans to List on the Hong Kong Stock Exchange. The China Securities Regulatory Commission has requested additional information on the compliance of employee stock incentive schemes.

The China Securities Regulatory Commission requires Zhongyin Microelectronics to provide further clarification on issues such as compliance with employee stock incentive programs.

The Dow Jones Index rose by 0.64%, closing at 50,608.77 points, breaking through the February high to reach a new all-time high.

New stock news | RayCloud plans to list on Hong Kong stock market. China Securities Regulatory Commission requires additional explanation on the compliance of employee shareholding plans, etc.

The China Securities Regulatory Commission requires Ruiyunlian to provide additional clarification on whether the company's project falls under the category of "high energy consumption" or "high emission" projects.

US Stock Market Move | China Securities Regulatory Commission seriously investigated and dealt with illegal cross-border business cases involving institutions such as Tiger Global Management LLC. Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) and UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) opened significantly lower by over 30%.

On Friday, Futu Holdings (FUTU.US) and Tiger Brokers (TIGR.US) opened drastically lower by over 30%.

New stock news | Wus Printed Circuit (002463.SZ) plans to conduct a Hong Kong IPO. The China Securities Regulatory Commission requires additional information on the overseas investments of the company's overseas subsidiaries.

The China Securities Regulatory Commission requires Shanghai Electric Power to provide additional explanations on the specific implementation of overseas investments, foreign exchange registration, and other regulatory procedures related to its overseas subsidiaries.

New Stock News | Sieyuan Electric (002028.SZ) plans to list on the Hong Kong stock market. The China Securities Regulatory Commission requires further clarification on the company's project environmental protection situation and others.

The China Securities Regulatory Commission requires Sanyuan Electric to provide further explanation on whether the company's projects are considered "high energy-consuming" and "high emissions" projects.

Up Fintech Holding's US stocks fell by 32%, and Futu Holding opened down by 35%.

NVIDIA Corporation and AMD consecutively purchased, investment banks raise target price! AI chip + optical interconnect leader Marvell Technology, Inc. (MRVL.US) earnings report may trigger another round of AI frenzy.

Investment bank Stifel maintains its "buy" rating on Mevion Technology and raises its target price from $140 to $210.

Another "Tesla-style" craze! SpaceX has not yet gone public and space stocks have collectively "taken off".

With the highly anticipated entry of SpaceX into the US stock market, investors' fervor for Elon Musk's rocket company inevitably brings to mind the frenzy that Tesla once caused in the electric vehicle sector.

New stock news | Mingzhi Technology plans to conduct an IPO in Hong Kong. The China Securities Regulatory Commission requires further information to be provided on the establishment of the shareholding structure and the compliance of the reverse merger.

According to the disclosure by the Hong Kong Stock Exchange on January 30, Mingzhi Technology Co., Ltd. (referred to as Mingzhi Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with BOCI Capital as its sole sponsor.

New stock news | Tangji Medical plans to list on the Hong Kong stock market. The China Securities Regulatory Commission requires additional clarification on the compliance of the implemented stock incentive plan, etc.

The China Securities Regulatory Commission requires Tangji Medical to provide supplementary explanations on the compliance of the implemented equity incentive plan and other matters.

New Stock News | Gemi Lei plans to list on the Hong Kong Stock Exchange, the China Securities Regulatory Commission requires additional explanations on the establishment of the equity structure and the compliance of the return acquisition.

The China Securities Regulatory Commission requires Gemilai to provide supplementary explanations on the compliance of the equity structure construction and reverse merger, as well as whether the business operations and scope of operation of domestic entities involve foreign investment restrictions or prohibited areas of admission.

The Ministry of Commerce holds a roundtable meeting for foreign pharmaceutical companies in the industry.

On May 22nd, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, Ling Ji, chaired a roundtable meeting for foreign pharmaceutical companies. Representatives from more than 50 foreign companies such as Sanofi, Novartis, Merck, Abbott Medical, Gilead Sciences, Lilly, and Danaher attended the meeting. Relevant departments from the Ministry of Commerce, the Ministry of Industry and Information Technology, the National Health Commission, the National Medical Security Administration, and the National Medical Products Administration also participated and exchanged views with the companies on-site. Ling Ji stated that the 13th Five-Year Plan period is a critical time for promoting the construction of a Healthy China, with China's pharmaceutical industry having a comprehensive innovation ecosystem and the world's largest medical and health service system, creating huge opportunities for multinational pharmaceutical companies to develop in China in the long term. The Chinese government adheres to a people-centered approach, continuously improves the quality of medical products and services, enhances price formation mechanisms and regulatory systems, expands openness in related fields, and legally ensures national treatment for foreign enterprises. All countries are welcomed to continue deepening their presence in the Chinese market and share in China's development dividends. The foreign companies attending the meeting welcomed the series of regulations and policies recently issued by relevant national departments in the pharmaceutical field, and expressed their willingness to further expand their investments in China to support the construction of a "Healthy China".

New Stock News | Xizi Health Plans to List on Hong Kong Stock Exchange, China Securities Regulatory Commission Requires Supplemental Information on Equity Incentive Personnel Situation, Etc.

The China Securities Regulatory Commission requires Westlake Health to provide additional clarification on the composition and appointment of the issuer's equity incentive personnel, and whether there are any related relationships among shareholders holding less than 5% of the shares.

Musk "cools down" market expectations: SpaceX postpones 12th Starship test flight on the eve of a $1.75 trillion epic IPO.

SpaceX cancelled its 12th Starship rocket launch in Texas on Thursday and stated that it will attempt the high-risk test flight again on Friday.

Wedbush adjusts AI 30 list: SK Hynix and Datadog added, Alibaba Group Holding Limited Sponsored ADR and Shopify removed.

Against the backdrop of the continuous deepening of the artificial intelligence (AI) revolution and the continuous rise in capital spending by technology giants, the renowned Wall Street investment bank Wedbush recently made a new round of adjustments to its highly anticipated AI 30 winners list.

New stock outlook | The tide of lithium battery recycling has arrived, how will Jinsheng New Energy get out of the loss cycle?

Jin Shengxin has submitted an application for listing on the main board of the Hong Kong Stock Exchange.

Geopolitical reshaping and demographic changes are forcing market restructuring, besides the US stock market and AI, Deutsche Bank also has high expectations for the defense and military industry sector.

With geopolitical fragmentation and demographic changes reshaping the global market, Deutsche Bank is optimistic about the performance of US stocks, AI-related industries, and defense stocks in the coming years.

Preview of US Stock Market | Three major stock index futures all rise, UBS raises S&P 500 target price to 7900 points, and quantum computing concept stocks continue to rise.

Before the US stock market opened on Friday, May 22, futures for the three major US stock indices all rose.

New stock preview | In the era of joint procurement, can Ande Medical's overseas income double to support the new growth driver to break through the Hong Kong stock market?

Transitioning from A-shares to Hong Kong stocks, can Antmed Medical write a new chapter in the capital market for itself?

A-share Announcement Highlights | Invest 3 billion yuan Tianshui Huatian Technology (002185.SZ) Bets on AI Trend and Expands Production Plan.

Huatian Technology: The controlling subsidiary plans to invest 30 billion yuan to build an advanced integrated circuit packaging and testing project; Enjie shares: terminate the investment of 2 billion yuan in the Malaysian lithium battery separator film project.

Jerome Powell officially took over the Federal Reserve today: facing internal and external challenges, this new helmsman will face a series of tests as he steers the ship.

Kevin Wash will be sworn in as the chairman of the Federal Reserve on Friday.

The smart body frenzy triggers the explosion of CPU+GPU AMD (AMD.US) joining hands with Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR to accelerate production expansion! Striving to become the "computing power base" of the AI era.

Against the backdrop of a surge in CPU demand in data centers, Wall Street financial giants are increasingly bullish on the two x86 architecture CPU super giants - Intel (INTC.US) and AMD (AMD.US) - as well as the owner of the ARM instruction set architecture, Arm (ARM.US).

Wall Street's bullish sentiment continues to rise! Following Morgan Stanley, UBS also raised its target for the S&P 500: Bullish logic supported by AI profitability and consumer resilience.

UBS Global Wealth Management has released its latest outlook, raising the year-end target for the S&P 500 index in 2026 from 7500 points to 7900 points, and giving a target of 8200 points for June 2027, while maintaining an "attractive" rating for the US stock market.

Before the market opens, the momentum continues! The Trump administration's $20 billion layout triggers a "quantum wave", with quantum computing concept stocks like Infleqtion (INFQ.US) facing a short squeeze.

With news of the US Department of Commerce proposing funding to support quantum computing and domestic manufacturing initiatives under the "Chip and Science Act," investors flocked to this sector in large numbers.

The central bank: The average daily turnover of interbank lending in April was 461.48 billion yuan, an increase of 46% year-on-year.

In April 2026, the average daily trading volume in the two cities was 2,437.9 billion yuan, an increase of 1.3% compared to the previous month.

New stocks news | Siasun Robot&Automation Obtain Approval from China Securities Regulatory Commission for Hong Kong IPO and Full Circulation of Unlisted Shares in Mainland China.

The International Cooperation Department of the China Securities Regulatory Commission issued the Announcement on the Overseas Issuance and Listing of Shanghai Ruiju Robot Co., Ltd. and the Filing of the "Full Circulation" of Unlisted Shares in China.

New stock news | Lingyi Itech (002600.SZ) Hong Kong IPO obtains record from China Securities Regulatory Commission.

On May 22, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice of Overseas Issuance and Listing Filing for Guangdong Lingyi Intelligent Manufacturing Co., Ltd."

New Stock News: Nexchip Semiconductor Corporation's (688249.SH) Hong Kong IPO has been approved by the China Securities Regulatory Commission.

On May 22nd, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice of Filing for the Overseas Issuance and Listing of Heifei Jinghe Integrated Circuit Co., Ltd."

New Stock News | Sturgeon Technology's Hong Kong IPO and the "full circulation" of domestically unlisted shares have been approved by the China Securities Regulatory Commission.

On May 22, the International Cooperation Department of the China Securities Regulatory Commission issued a "Notice on the Filing of Overseas Issue and Listing of Hangzhou Qiandaohu Xunlong Technology Co., Ltd. and the 'Complete Circulation' of Shares Not Listed Domestically".

Hang Seng Index quarterly review results announced: J&T EXPRESS-W(01519), Aluminum Corporation Of China(02600), BeOne Medicines Ltd.(06160) have been added as Hang Seng Index constituents, bringing the total number of constituents to 93.

Glamorous Express-W (01519), Aluminum Corporation of China (02600), and BeiGene (06160) will be included in the Hang Seng Index constituents, increasing the number of constituents from 90 to 93.

Latest

2 m ago

The US Department of the Treasury: Investment funds purchased $293.32 billion of 10-year Treasury notes in the latest bi-weekly report period, an increase from $281.03 billion last month; purchased $183.40 billion of 30-year bonds, an increase from $164.15 billion last month; purchased $416.36 billion of 3-year Treasury notes, a decrease from $428.10 billion last month. Foreign investors purchased $56.29 billion of 3-year Treasury notes in the latest bi-weekly report period, a decrease from $68.34 billion last month; purchased $62.30 billion of 10-year Treasury notes, an increase from $57.89 billion last month; purchased $27.67 billion of 30-year bonds, an increase from $23.13 billion last month.

3 m ago

The onshore RMB to USD rate closed at 6.7978 at 03:00 Beijing time, down 18 basis points from the Thursday night session. The total trading volume was $46.656 billion.

6 m ago

The Hang Seng Index main night session closed down 0.49% to 25430 points. The Hang Seng Technology Index main night session closed down 0.74% to 4824 points.

7 m ago

Movement in USD bonds | EHI Car Rental EHICAR 7 09/21/26 has dropped in price by 3.954% to 70.450.

7 m ago

Hang Seng Index futures fell by 0.37% in the night session, closing at 25324.91 points, a decrease of 281.12 points.

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