Nominal 
【Top News Highlights】
1. U.S. major indices closed lower on Thursday (6th), with the Dow ending its previous streak of five consecutive trading days of gains. Market sentiment turned cautious as investors digested a series of mixed corporate quarterly earnings. Meanwhile, geopolitical tensions in the Middle East, particularly the back-and-forth negotiations over reopening navigation in the Strait of Hormuz, became a key factor influencing market risk appetite. The Dow closed down 464 points, or 0.85%, at 53,885; the S&P 500 fell 13 points, or 0.18%, at 7,709; the Nasdaq edged down 15 points, or 0.06%, at 26,348. The China Golden Dragon Index rose 18 points. The Nikkei opened at 65,755, down 0.17%.
2. Iran reportedly plans to ban U.S. and Israeli vessels from passage, requiring vessels from hostile nations to pay compensation to use the Strait, driving oil prices higher. New York crude futures rose nearly 4%, while Brent crude futures rose nearly half a percent, reclaiming the $80 level.
3. The UK's Financial Times reported that Federal Reserve Chair Watts is said to be prepared to restart rate hikes in September if inflation data remains persistently high in the coming weeks. It was also reported that U.S. President Trump has called Watts multiple times to inquire about forecasts and views, though he did not request specific actions, reigniting concerns over the Fed's independence.
4. Trump signed an executive order imposing a 15% tariff and setting a minimum price on imported polysilicon and its derivatives (including silicon wafers, photovoltaic cells, and modules), effective December 4.
5. The U.S. Labor Department announced that the number of new jobless claims for the week ended August 1 was 199,000, significantly below market expectations of 203,000 to 205,000, indicating that corporate layoffs have not accelerated notably.
6. Alphabet recently returned to the U.S. bond market, with its latest investment-grade bond issuance plan of up to $25 billion attracting approximately $115 billion in investor demand.
7. According to mainland media reports, ByteDance is discussing training a model with over 5 trillion parameters, surpassing Alibaba's Qwen3.8-Max (2.4 trillion) and Moonshot's K3 (2.8 trillion), making it the largest known model in terms of parameter scale in mainland China.
8. DeepSeek is reportedly restarting its second round of fundraising, targeting nearly $8 billion with a valuation of approximately $7.4 billion; Monolith Management is negotiating to participate in the investment.
9. Unitree Technology (Shanghai: 688836) set its IPO price on the Shanghai STAR Market at RMB 150.8 per share, aiming to raise about RMB 6.1 billion, potentially becoming the first humanoid robotics manufacturer to list in mainland China.
10. The government announced details of a new batch of Silver Bonds, with a target issuance amount of HK$50 billion, adjustable up to HK$55 billion. Each lot is HK$10,000, with a 3-year tenure. Interest is paid semi-annually, linked to local inflation, and guaranteed to be no less than 4.25%.
【Stock Focus】
HSBC Holdings (00005)
- Resumed share buyback in Hong Kong yesterday, first batch bought back nearly 450,000 shares for about HK$707.9 million
Zhipu (02513), MiniMax (00100)
- DeepSeek reportedly restarting second round of fundraising, targeting nearly $8 billion
Tesla concept: Minth Group (00425), LK Technology (00558), Ganfeng Lithium (01772)
- Tesla announces building its largest chip plant in Texas, aiming to produce chips delivering over 1 terawatt of computing power annually
Polysilicon concept: GCL Technology (03800), Xinjiang New Energy (01799)
- U.S. to impose 15% tariff and set minimum price on imported polysilicon and its derivatives, effective December 4
Three oil majors: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Iran reportedly strikes hostile targets in the Strait of Hormuz
Robotics concept: Ubtech (09880), Delfin Robotics (02432)
- Unitree Technology's Shanghai STAR Market IPO pricing
Zai Lab (09688)
- Q2 loss widened to $50.82 million, revenue down 3% YoY but beat expectations
Transcenta (06628)
- Sells CDMO assets to WuXi Biologics for RMB 190 million, expects RMB 280 million loss on sale
MGM China (02282)
- Interim profit down 20% to HK$1.9 billion, revenue up 4%, dividend of 25 cents
Jingjing New Energy (01783)
- Spends nearly RMB 1.5 billion to purchase AI smart servers, supporting cloud computing and intelligent computing services
CITIC Securities (06030)
- Completes issuance of 800 million new shares to CITIC Financial Holdings, raising HK$18.6 billion; CITIC Financial Holdings holds 24% stake
Hansoh Pharmaceutical (03692)
- Class 1 new drug approved for clinical trials in mainland China for treating hypercholesterolemia and mixed dyslipidemia
Pharmaron Biologics (02617)
- Jieentai conditionally approved for marketing in mainland China for treating cholangiocarcinoma
Nasen Technology (02261)
- Oversubscribed over 2,512 times, 8% allocation rate for first lot, dark pool rose over 60%, listed today
【Oil & Gold Quotes】
NYMEX crude oil up 1.01%, at $78.07/barrel
Brent crude oil down 0.35%, at $83.25/barrel
Spot gold up 0.20%, at $4,249.34/ounce
Gold futures up 0.17%, at $4,307.12/ounce
1. U.S. major indices closed lower on Thursday (6th), with the Dow ending its previous streak of five consecutive trading days of gains. Market sentiment turned cautious as investors digested a series of mixed corporate quarterly earnings. Meanwhile, geopolitical tensions in the Middle East, particularly the back-and-forth negotiations over reopening navigation in the Strait of Hormuz, became a key factor influencing market risk appetite. The Dow closed down 464 points, or 0.85%, at 53,885; the S&P 500 fell 13 points, or 0.18%, at 7,709; the Nasdaq edged down 15 points, or 0.06%, at 26,348. The China Golden Dragon Index rose 18 points. The Nikkei opened at 65,755, down 0.17%.
2. Iran reportedly plans to ban U.S. and Israeli vessels from passage, requiring vessels from hostile nations to pay compensation to use the Strait, driving oil prices higher. New York crude futures rose nearly 4%, while Brent crude futures rose nearly half a percent, reclaiming the $80 level.
3. The UK's Financial Times reported that Federal Reserve Chair Watts is said to be prepared to restart rate hikes in September if inflation data remains persistently high in the coming weeks. It was also reported that U.S. President Trump has called Watts multiple times to inquire about forecasts and views, though he did not request specific actions, reigniting concerns over the Fed's independence.
4. Trump signed an executive order imposing a 15% tariff and setting a minimum price on imported polysilicon and its derivatives (including silicon wafers, photovoltaic cells, and modules), effective December 4.
5. The U.S. Labor Department announced that the number of new jobless claims for the week ended August 1 was 199,000, significantly below market expectations of 203,000 to 205,000, indicating that corporate layoffs have not accelerated notably.
6. Alphabet recently returned to the U.S. bond market, with its latest investment-grade bond issuance plan of up to $25 billion attracting approximately $115 billion in investor demand.
7. According to mainland media reports, ByteDance is discussing training a model with over 5 trillion parameters, surpassing Alibaba's Qwen3.8-Max (2.4 trillion) and Moonshot's K3 (2.8 trillion), making it the largest known model in terms of parameter scale in mainland China.
8. DeepSeek is reportedly restarting its second round of fundraising, targeting nearly $8 billion with a valuation of approximately $7.4 billion; Monolith Management is negotiating to participate in the investment.
9. Unitree Technology (Shanghai: 688836) set its IPO price on the Shanghai STAR Market at RMB 150.8 per share, aiming to raise about RMB 6.1 billion, potentially becoming the first humanoid robotics manufacturer to list in mainland China.
10. The government announced details of a new batch of Silver Bonds, with a target issuance amount of HK$50 billion, adjustable up to HK$55 billion. Each lot is HK$10,000, with a 3-year tenure. Interest is paid semi-annually, linked to local inflation, and guaranteed to be no less than 4.25%.
【Stock Focus】
HSBC Holdings (00005)
- Resumed share buyback in Hong Kong yesterday, first batch bought back nearly 450,000 shares for about HK$707.9 million
Zhipu (02513), MiniMax (00100)
- DeepSeek reportedly restarting second round of fundraising, targeting nearly $8 billion
Tesla concept: Minth Group (00425), LK Technology (00558), Ganfeng Lithium (01772)
- Tesla announces building its largest chip plant in Texas, aiming to produce chips delivering over 1 terawatt of computing power annually
Polysilicon concept: GCL Technology (03800), Xinjiang New Energy (01799)
- U.S. to impose 15% tariff and set minimum price on imported polysilicon and its derivatives, effective December 4
Three oil majors: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Iran reportedly strikes hostile targets in the Strait of Hormuz
Robotics concept: Ubtech (09880), Delfin Robotics (02432)
- Unitree Technology's Shanghai STAR Market IPO pricing
Zai Lab (09688)
- Q2 loss widened to $50.82 million, revenue down 3% YoY but beat expectations
Transcenta (06628)
- Sells CDMO assets to WuXi Biologics for RMB 190 million, expects RMB 280 million loss on sale
MGM China (02282)
- Interim profit down 20% to HK$1.9 billion, revenue up 4%, dividend of 25 cents
Jingjing New Energy (01783)
- Spends nearly RMB 1.5 billion to purchase AI smart servers, supporting cloud computing and intelligent computing services
CITIC Securities (06030)
- Completes issuance of 800 million new shares to CITIC Financial Holdings, raising HK$18.6 billion; CITIC Financial Holdings holds 24% stake
Hansoh Pharmaceutical (03692)
- Class 1 new drug approved for clinical trials in mainland China for treating hypercholesterolemia and mixed dyslipidemia
Pharmaron Biologics (02617)
- Jieentai conditionally approved for marketing in mainland China for treating cholangiocarcinoma
Nasen Technology (02261)
- Oversubscribed over 2,512 times, 8% allocation rate for first lot, dark pool rose over 60%, listed today
【Oil & Gold Quotes】
NYMEX crude oil up 1.01%, at $78.07/barrel
Brent crude oil down 0.35%, at $83.25/barrel
Spot gold up 0.20%, at $4,249.34/ounce
Gold futures up 0.17%, at $4,307.12/ounce
