Nominal 
【TOP NEWS】
1. Amid temporary easing of Middle East geopolitical tensions, US major indices rebounded and closed higher on Monday (3rd). The Dow Jones closed up 693.38 points, or 1.32%, at 53,178.41, setting a new closing high. Meanwhile, market risk appetite improved significantly: the S&P 500 rose 110.78 points, or 1.48%, to 7,600.5; the Nasdaq climbed 540.04 points, or 2.13%, to 25,913.9. The Nikkei opened at 64,095, up 341 points.
2. US President Trump stated that his latest negotiation proposal is a 'final chance' for Iran before a 'decapitation' strike, saying the outcome would be clear within one or two days. Iran denied direct negotiations with the US, saying it is currently only discussing temporary shipping routes in the Strait of Hormuz with Oman. Trump accused Tehran of being 'extremely hypocritical' in response.
3. The US July ISM Manufacturing Purchasing Managers Index (PMI) came in at 55.6, the highest level since May 2022, significantly above the market expectation of 54 and up from June's 53.3. However, the prices paid index rose to 71.1, slightly above the expected 71, indicating manufacturers continue to face high cost pressures, and concerns about inflation resurgence remain.
4. New York Fed President Williams said current interest rates are at a good level, expects inflation to decline in the second half of this year, and the 2% target will be achieved no later than 2028. Bank of America warned that if the Fed fails to clarify how it will achieve the 2% inflation target, US Treasuries could resume their downward trend.
5. The US Treasury will release its quarterly debt management policy statement on Wednesday (5th), reaffirming that it will not increase medium- and long-term Treasury issuance at least for the coming quarters.
6. A coalition of 25 US states filed a lawsuit against President Trump's recently implemented new round of global tariffs, accusing the White House of illegally invoking Section 301 of trade law to replace previous tariff measures that were either ruled illegal by the Supreme Court or have expired.
7. China released a five-year plan for building a new power system, aiming to maintain national new energy utilization rate around 90%, and proposing that non-fossil energy sources should support around 40% of electricity supply by 2030.
8. Reuters, citing sources, reported that ChangXin Technology is in talks with a local government-supported technology manufacturing center regarding financing for its second chip plant in Beijing.
9. According to IFR under Reuters, Moonshot AI plans to file a confidential IPO application in Hong Kong, aiming to raise about $3 billion.
10. Fast-fashion e-commerce Shein is considering offering cash compensation and additional Class B shares to Pre-D, D, and D+ round investors, lowering their effective valuation from about $64 billion to around $40 billion, aligning with its Hong Kong IPO valuation.
【STOCK HIGHLIGHTS】
WuXi AppTec (02359)
- H1 net profit up 34%, adjusted net profit surged 83%, dividend of RMB 0.51
- Raised full-year revenue forecast by up to 18%, confident adjusted net profit will remain stable for the year
Zhipu (02513), MiniMax (00100)
- Moonshot AI plans to file confidential Hong Kong IPO application
CSOP 2x Long SK Hynix ETF (07709), CSOP 2x Long Samsung ETF (07747)
- First to disclose target leverage ratio after new rules, maintaining 2x cap
GigaDevice (03986)
- ChangXin Technology is negotiating financing for its second chip plant in Beijing with a government-supported tech manufacturing center
Alphamab Oncology (09966)
- Granted exclusive overseas rights for anti-cancer drug, entitled to receive over RMB 17.3 billion and royalties
Yangtze Optical Fibre and Cable (06869)
- Participated in fund setup with RMB 170 million to invest in optoelectronic chip and optical interconnection companies
China Mobile (00941)
- Reportedly considering selling its minority stake in Thai telecom True Corp, working with advisers to gauge buyer interest
Power stocks: China Resources Power (00836), CGN Power (01816)
- China released five-year plan for new power system, aiming to keep national new energy utilization rate around 90%
SF同城 (09699)
- Expects H1 profit of no less than RMB 300 million, up over 1.2 times, revenue up over 14%
Seres Group (09927)
- July sales at 27,000 units, down 44% year-on-year and 26% month-on-month
Go-Go Quantum (00290)
- Placing and subscribing up to over 200 million new shares at 12% discount, raising RMB 350 million
Go-Hydrogen (02582)
- 18.42 million domestic shares converted to H-shares listed today
Modern Dairy (01117)
- Tender offer for China Shengmu (01432) received over 52% acceptance, stake increased to over 83%
Fosun International (00656)
- Its life insurance unit Frankfurter Leben is close to finalizing acquisition of Athora's German operations
【OIL & GOLD PRICES】
NYMEX crude oil up 0.36%, at $80.61/barrel
Brent crude oil up 0.69%, at $84.10/barrel
Spot gold up 0.28%, at $4,065.08/ounce
Gold futures up 0.78%, at $4,122.25/ounce
1. Amid temporary easing of Middle East geopolitical tensions, US major indices rebounded and closed higher on Monday (3rd). The Dow Jones closed up 693.38 points, or 1.32%, at 53,178.41, setting a new closing high. Meanwhile, market risk appetite improved significantly: the S&P 500 rose 110.78 points, or 1.48%, to 7,600.5; the Nasdaq climbed 540.04 points, or 2.13%, to 25,913.9. The Nikkei opened at 64,095, up 341 points.
2. US President Trump stated that his latest negotiation proposal is a 'final chance' for Iran before a 'decapitation' strike, saying the outcome would be clear within one or two days. Iran denied direct negotiations with the US, saying it is currently only discussing temporary shipping routes in the Strait of Hormuz with Oman. Trump accused Tehran of being 'extremely hypocritical' in response.
3. The US July ISM Manufacturing Purchasing Managers Index (PMI) came in at 55.6, the highest level since May 2022, significantly above the market expectation of 54 and up from June's 53.3. However, the prices paid index rose to 71.1, slightly above the expected 71, indicating manufacturers continue to face high cost pressures, and concerns about inflation resurgence remain.
4. New York Fed President Williams said current interest rates are at a good level, expects inflation to decline in the second half of this year, and the 2% target will be achieved no later than 2028. Bank of America warned that if the Fed fails to clarify how it will achieve the 2% inflation target, US Treasuries could resume their downward trend.
5. The US Treasury will release its quarterly debt management policy statement on Wednesday (5th), reaffirming that it will not increase medium- and long-term Treasury issuance at least for the coming quarters.
6. A coalition of 25 US states filed a lawsuit against President Trump's recently implemented new round of global tariffs, accusing the White House of illegally invoking Section 301 of trade law to replace previous tariff measures that were either ruled illegal by the Supreme Court or have expired.
7. China released a five-year plan for building a new power system, aiming to maintain national new energy utilization rate around 90%, and proposing that non-fossil energy sources should support around 40% of electricity supply by 2030.
8. Reuters, citing sources, reported that ChangXin Technology is in talks with a local government-supported technology manufacturing center regarding financing for its second chip plant in Beijing.
9. According to IFR under Reuters, Moonshot AI plans to file a confidential IPO application in Hong Kong, aiming to raise about $3 billion.
10. Fast-fashion e-commerce Shein is considering offering cash compensation and additional Class B shares to Pre-D, D, and D+ round investors, lowering their effective valuation from about $64 billion to around $40 billion, aligning with its Hong Kong IPO valuation.
【STOCK HIGHLIGHTS】
WuXi AppTec (02359)
- H1 net profit up 34%, adjusted net profit surged 83%, dividend of RMB 0.51
- Raised full-year revenue forecast by up to 18%, confident adjusted net profit will remain stable for the year
Zhipu (02513), MiniMax (00100)
- Moonshot AI plans to file confidential Hong Kong IPO application
CSOP 2x Long SK Hynix ETF (07709), CSOP 2x Long Samsung ETF (07747)
- First to disclose target leverage ratio after new rules, maintaining 2x cap
GigaDevice (03986)
- ChangXin Technology is negotiating financing for its second chip plant in Beijing with a government-supported tech manufacturing center
Alphamab Oncology (09966)
- Granted exclusive overseas rights for anti-cancer drug, entitled to receive over RMB 17.3 billion and royalties
Yangtze Optical Fibre and Cable (06869)
- Participated in fund setup with RMB 170 million to invest in optoelectronic chip and optical interconnection companies
China Mobile (00941)
- Reportedly considering selling its minority stake in Thai telecom True Corp, working with advisers to gauge buyer interest
Power stocks: China Resources Power (00836), CGN Power (01816)
- China released five-year plan for new power system, aiming to keep national new energy utilization rate around 90%
SF同城 (09699)
- Expects H1 profit of no less than RMB 300 million, up over 1.2 times, revenue up over 14%
Seres Group (09927)
- July sales at 27,000 units, down 44% year-on-year and 26% month-on-month
Go-Go Quantum (00290)
- Placing and subscribing up to over 200 million new shares at 12% discount, raising RMB 350 million
Go-Hydrogen (02582)
- 18.42 million domestic shares converted to H-shares listed today
Modern Dairy (01117)
- Tender offer for China Shengmu (01432) received over 52% acceptance, stake increased to over 83%
Fosun International (00656)
- Its life insurance unit Frankfurter Leben is close to finalizing acquisition of Athora's German operations
【OIL & GOLD PRICES】
NYMEX crude oil up 0.36%, at $80.61/barrel
Brent crude oil up 0.69%, at $84.10/barrel
Spot gold up 0.28%, at $4,065.08/ounce
Gold futures up 0.78%, at $4,122.25/ounce
