Nominal 
【TOP STORIES】
1. The US Treasury announced doubling the scale of long-term Treasury buyback operations, coupled with falling US bond yields, boosted US stocks on Wednesday (19th). The Dow closed up 119.65 points, or 0.22%, at 53,463.05; the S&P 500 rose 16.22 points, or 0.21%, to 7,707.98; the Nasdaq gained 41.38 points, or 0.16%, to 26,331.09. The Nikkei opened at 66,110, up 784 points.
2. The US Treasury revealed it will raise the cap on long-term Treasury buyback operations from $2 billion to at least $4 billion per operation. The new arrangement will be implemented from September 9 to November 4 and will primarily target Treasury bonds with maturities of 10 years or longer. Following the announcement, US Treasury yields dropped noticeably. On Wednesday, the 10-year yield fell to around 4.65%, and the 30-year yield declined to about 5.2%.
3. The Federal Reserve's latest minutes from its July meeting showed a 9-to-3 vote to keep the federal funds rate unchanged in the 3.5% to 3.75% range. However, Hammack, Kashkari, and Logan supported a 25-basis-point rate hike. Officials favoring a rate increase argued that price pressures have become broader, and delaying tightening could necessitate even larger hikes later.
4. The US dollar weakened on Wednesday, dragged by falling Treasury yields and reduced rate hike expectations. The dollar index fell below 99, closing at 98.81, down 0.8%—its lowest level since May. The dollar-yen pair retreated, with the yen regaining strength. The USD/JPY declined about 0.8% to 158.29, moving further away from the closely watched 160 level.
5. US President Trump announced on his social platform Truth Social that he would launch an unprecedented 'economic war' against Iran, warning that other countries supporting Iran would also be affected, citing Iran's failure to seize the opportunity to reach an agreement with the US. However, he did not specify the exact measures yet.
6. Trump said he might reduce tariffs on Canada to the same level as other countries. Reports suggest the US plans to halve tariffs on certain Canadian steel and aluminum to 25%, and reduce auto tariffs from 25% to 15%, with details still under discussion.
7. North Korea denied any direct communication between leader Kim Jong-un and US President Trump, stating in a Wednesday statement that it is uninterested in the US reducing the scale of joint US-South Korea military exercises. However, reports indicate Trump is pushing forward plans to meet Kim Jong-un, possibly during an APEC summit visit as early as November.
8. A statement from South Korea's Ministry of Foreign Affairs said Chinese Foreign Minister Wang Yi expressed Beijing's intention to arrange a meeting between leaders during the APEC summit.
9. It is reported that the South Korean government plans to establish a new financial hub outside the capital Seoul to address over-concentration in the Seoul metropolitan area. One of the candidate locations is North Jeolla Province, about 200 kilometers south of Seoul.
10. Trump reportedly met with executives from companies including Coinbase Global and Blockchain.com. After the news emerged, Bitcoin surged, briefly spiking to $69,365—its highest level in three months—with a daily gain of 8.2%.
11. According to Reuters, Samsung Electronics raised prices for new orders in some of its advanced chip foundry services, increasing quotes for mainland Chinese customers by 10% to 15% compared to last month, and by 5% to 10% for Taiwanese customers.
12. Moderna (US.MRNA) and Merck (US.MRK) announced on Wednesday (19th) that their jointly developed personalized mRNA cancer vaccine, Intesmeran, combined with Merck's immunotherapy Keytruda, achieved positive results in a large Phase III melanoma trial. This drove Moderna's stock to surge over 90% at one point, while Merck rose over 7%.
13. China has determined that the EU's cross-border investigation into JD.com's acquisition of German firm Ceconomy constitutes improper extraterritorial jurisdiction, and has demanded that no organization or individual execute or assist in executing such measures.
14. Hong Kong government data shows that from mid-2025 to mid-2026, the number of births in Hong Kong sharply declined by 15.6%, the lowest level since records began in the 1960s.
【STOCK HIGHLIGHTS】AIA Group (01299)
- Interim profit up 62%, new business value up 10%, dividend of 53.9 HK cents increased by 10%
Kuaishou (01024)
- Adjusted profit of RMB 3.913 billion in Q2, down 30% year-on-year; AI Lingyi revenue tripled
Alibaba (09988), NetEase (09999), Ping An (02318)
- To release financial results today
mRNA vaccine concept: 3D Medicines (01244), WuXi Biologics (02269), Zai Lab (09688)
- Moderna and Merck's jointly developed melanoma mRNA cancer vaccine reached primary endpoint in Phase III clinical trial
Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522)
- Samsung Electronics reportedly raised prices for new orders in some advanced chip foundry services; quotes for mainland clients increased 10% to 15% from last month
CMOC Group (03993)
- Interim profit of RMB 16.2 billion, up 86%; revenue up 43%; resumes interim dividend of 9.5 HK cents for the first time in 14 years
China Biopharmaceutical (01177)
- Interim net profit rose 1.4% to RMB 3.43 billion; dividend of 7 HK cents
Bitcoin ETFs: CSOP Bitcoin (03042), Southern Bitcoin (03066), Samsung Bitcoin (03135)
- Bitcoin surged over 8%, hitting a nearly three-month high; Trump to meet with senior executives from cryptocurrency firms
Gold mining stocks: Lingbao Gold (03330), Zhaojin Mining (01818), Zijin Mining (02899)
- Spot gold surged 3.9%, reaching a new high in over two months; NY futures closed up about 3.2% to $4,562
CK Hutchison (00001)
- Initiates international arbitration to claim over $1.5 billion over Panama port takeover
JD.com (09618)
- China rules that EU's cross-border investigation into JD.com's acquisition of German firm Ceconomy constitutes improper extraterritorial jurisdiction
Hengrui Medicine (01276)
- Interim profit of RMB 4.5 billion, up 0.3%; no dividend; plans to repurchase up to RMB 2 billion worth of A-shares
Seres Group (09927)
- Interim swung to a loss of RMB 1.7 billion, no dividend; revenue down 8%
Ping An Good Doctor (01833)
- No dividend plans in the short term; significant future investment in artificial intelligence
Cathay Pacific (00293)
- July passenger volume up 9% year-on-year; cargo volume up 6%
Chery Automobile (09973)
- Reportedly preparing its Moja Robotics subsidiary for listing, targeting overseas law enforcement markets
China Health Tech (01069)
- Documents seized by police at Shenzhen location; former executive director Cao Xiyin previously detained; resumes trading this morning
【OIL & GOLD QUOTES】
NYMEX crude oil up 0.11%, at $84.43/barrel
Brent crude oil up 0.17%, at $91.75/barrel
Spot gold up 0.20%, at $4,513.45/oz
Gold futures up 0.60%, at $4,572.45/oz
1. The US Treasury announced doubling the scale of long-term Treasury buyback operations, coupled with falling US bond yields, boosted US stocks on Wednesday (19th). The Dow closed up 119.65 points, or 0.22%, at 53,463.05; the S&P 500 rose 16.22 points, or 0.21%, to 7,707.98; the Nasdaq gained 41.38 points, or 0.16%, to 26,331.09. The Nikkei opened at 66,110, up 784 points.
2. The US Treasury revealed it will raise the cap on long-term Treasury buyback operations from $2 billion to at least $4 billion per operation. The new arrangement will be implemented from September 9 to November 4 and will primarily target Treasury bonds with maturities of 10 years or longer. Following the announcement, US Treasury yields dropped noticeably. On Wednesday, the 10-year yield fell to around 4.65%, and the 30-year yield declined to about 5.2%.
3. The Federal Reserve's latest minutes from its July meeting showed a 9-to-3 vote to keep the federal funds rate unchanged in the 3.5% to 3.75% range. However, Hammack, Kashkari, and Logan supported a 25-basis-point rate hike. Officials favoring a rate increase argued that price pressures have become broader, and delaying tightening could necessitate even larger hikes later.
4. The US dollar weakened on Wednesday, dragged by falling Treasury yields and reduced rate hike expectations. The dollar index fell below 99, closing at 98.81, down 0.8%—its lowest level since May. The dollar-yen pair retreated, with the yen regaining strength. The USD/JPY declined about 0.8% to 158.29, moving further away from the closely watched 160 level.
5. US President Trump announced on his social platform Truth Social that he would launch an unprecedented 'economic war' against Iran, warning that other countries supporting Iran would also be affected, citing Iran's failure to seize the opportunity to reach an agreement with the US. However, he did not specify the exact measures yet.
6. Trump said he might reduce tariffs on Canada to the same level as other countries. Reports suggest the US plans to halve tariffs on certain Canadian steel and aluminum to 25%, and reduce auto tariffs from 25% to 15%, with details still under discussion.
7. North Korea denied any direct communication between leader Kim Jong-un and US President Trump, stating in a Wednesday statement that it is uninterested in the US reducing the scale of joint US-South Korea military exercises. However, reports indicate Trump is pushing forward plans to meet Kim Jong-un, possibly during an APEC summit visit as early as November.
8. A statement from South Korea's Ministry of Foreign Affairs said Chinese Foreign Minister Wang Yi expressed Beijing's intention to arrange a meeting between leaders during the APEC summit.
9. It is reported that the South Korean government plans to establish a new financial hub outside the capital Seoul to address over-concentration in the Seoul metropolitan area. One of the candidate locations is North Jeolla Province, about 200 kilometers south of Seoul.
10. Trump reportedly met with executives from companies including Coinbase Global and Blockchain.com. After the news emerged, Bitcoin surged, briefly spiking to $69,365—its highest level in three months—with a daily gain of 8.2%.
11. According to Reuters, Samsung Electronics raised prices for new orders in some of its advanced chip foundry services, increasing quotes for mainland Chinese customers by 10% to 15% compared to last month, and by 5% to 10% for Taiwanese customers.
12. Moderna (US.MRNA) and Merck (US.MRK) announced on Wednesday (19th) that their jointly developed personalized mRNA cancer vaccine, Intesmeran, combined with Merck's immunotherapy Keytruda, achieved positive results in a large Phase III melanoma trial. This drove Moderna's stock to surge over 90% at one point, while Merck rose over 7%.
13. China has determined that the EU's cross-border investigation into JD.com's acquisition of German firm Ceconomy constitutes improper extraterritorial jurisdiction, and has demanded that no organization or individual execute or assist in executing such measures.
14. Hong Kong government data shows that from mid-2025 to mid-2026, the number of births in Hong Kong sharply declined by 15.6%, the lowest level since records began in the 1960s.
【STOCK HIGHLIGHTS】AIA Group (01299)
- Interim profit up 62%, new business value up 10%, dividend of 53.9 HK cents increased by 10%
Kuaishou (01024)
- Adjusted profit of RMB 3.913 billion in Q2, down 30% year-on-year; AI Lingyi revenue tripled
Alibaba (09988), NetEase (09999), Ping An (02318)
- To release financial results today
mRNA vaccine concept: 3D Medicines (01244), WuXi Biologics (02269), Zai Lab (09688)
- Moderna and Merck's jointly developed melanoma mRNA cancer vaccine reached primary endpoint in Phase III clinical trial
Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522)
- Samsung Electronics reportedly raised prices for new orders in some advanced chip foundry services; quotes for mainland clients increased 10% to 15% from last month
CMOC Group (03993)
- Interim profit of RMB 16.2 billion, up 86%; revenue up 43%; resumes interim dividend of 9.5 HK cents for the first time in 14 years
China Biopharmaceutical (01177)
- Interim net profit rose 1.4% to RMB 3.43 billion; dividend of 7 HK cents
Bitcoin ETFs: CSOP Bitcoin (03042), Southern Bitcoin (03066), Samsung Bitcoin (03135)
- Bitcoin surged over 8%, hitting a nearly three-month high; Trump to meet with senior executives from cryptocurrency firms
Gold mining stocks: Lingbao Gold (03330), Zhaojin Mining (01818), Zijin Mining (02899)
- Spot gold surged 3.9%, reaching a new high in over two months; NY futures closed up about 3.2% to $4,562
CK Hutchison (00001)
- Initiates international arbitration to claim over $1.5 billion over Panama port takeover
JD.com (09618)
- China rules that EU's cross-border investigation into JD.com's acquisition of German firm Ceconomy constitutes improper extraterritorial jurisdiction
Hengrui Medicine (01276)
- Interim profit of RMB 4.5 billion, up 0.3%; no dividend; plans to repurchase up to RMB 2 billion worth of A-shares
Seres Group (09927)
- Interim swung to a loss of RMB 1.7 billion, no dividend; revenue down 8%
Ping An Good Doctor (01833)
- No dividend plans in the short term; significant future investment in artificial intelligence
Cathay Pacific (00293)
- July passenger volume up 9% year-on-year; cargo volume up 6%
Chery Automobile (09973)
- Reportedly preparing its Moja Robotics subsidiary for listing, targeting overseas law enforcement markets
China Health Tech (01069)
- Documents seized by police at Shenzhen location; former executive director Cao Xiyin previously detained; resumes trading this morning
【OIL & GOLD QUOTES】
NYMEX crude oil up 0.11%, at $84.43/barrel
Brent crude oil up 0.17%, at $91.75/barrel
Spot gold up 0.20%, at $4,513.45/oz
Gold futures up 0.60%, at $4,572.45/oz