Quick Look at Mid-day Trading | The three major stock indexes in Hong Kong all fell, with oil and coal stocks declining; all three major oil companies saw a drop of over 5%, while Tianqi Lithium Corporation surged 12% against the market trend.
Network technology stocks generally fell, with SenseTime down nearly 3%, JD.com, Netease down nearly 1%, Tencent, Alibaba slightly down; Bilibili rose by over 1%, Meituan slightly rose.
Futu Morning News | Fed officials' dovish tone: Economic data support multiple rate cuts; Tesla's two-day cumulative increase of 9%! FSD is expected to be launched in China and Europe next year.
On the eve of the release of the key employment report in the USA, the ADP non-farm payrolls reached the lowest level since January 2021, while initial claims remain stable. Yellen: The labor market in the USA is still robust and continues to create employment opportunities. The Federal Reserve should not delay any longer! Economists at Morgan Stanley have changed their stance: there must be a major move in September.
Futu Morning News | The "arrow" of interest rate cuts is on the string! The hawkish voting committee suddenly released a dovish signal, and the market increased its bet on a 50 basis point interest rate cut; Tesla rose more than 4% against the market and
Fed Beige Book: More regional economic activity is stagnating, price pressures are stabilizing; Alleged to be facing antitrust investigation, Nvidia says it has not received a subpoena from the U.S. Department of Justice; C3.ai falls over 16% after hours, Q1 subscription revenue for fiscal year 2025 falls short of expectations.
After reaching production or years of tens of billions of profit growth, two projects of China Shenhua Energy have been approved by the National Development and Reform Commission.
①The total investment exceeds 26 billion yuan, and the New Street No.1 and New Street No.2 projects of the china shenhua energy subsidiary have been approved by the National Development and Reform Commission; ②The construction scale of the two projects is 8 million tons per year, and the estimated annual profit after reaching production can be close to 6 billion yuan.
The increase in coal product quantity does not offset the decrease in price. Shaanxi Coal Industry's revenue and net profit in the first half of the year both declined year-on-year. | Interpretations
① Due to the impact of the year-on-year decline in coal prices, Shaanxi Coal Industry's revenue and net income for the first half of the year decreased year-on-year, but still exceeded 10 billion yuan; ② The company's Q2 net income attributable to shareholders increased both year-on-year and quarter-on-quarter, but non-recurring net income decreased year-on-year.
Under the dual pressure of intensified losses in the coking business and continuous decline in coal prices, Shanxi Coking Coal Energy Group's net profit has dropped by 80%|Interpretation
①Due to the exacerbated losses in the core coking business and the continual decline in coal prices leading to a decrease in profits for the associated coal mining company, Shanxi Coking saw an 80% year-on-year decrease in net income in the first half of the year; ②CMC Huajin contributed investment income of 1.348 billion yuan to the company in the first half of the year, a 24.48% decrease compared to the same period last year.