The Federal Reserve's most closely watched inflation indicator in April came in slightly below expectations, however, since the outbreak of conflict in the Middle East, the upward trend in inflation has persisted, Karsten Junius, the Chief Economist and Head of Economic and Strategy Research of J. Safra Sarasin, wrote.

Last year, amid a slowdown in the economic cycle, Fed officials could afford to look past tariff-induced inflationary pressures, but the situation is now visibly different.

Ongoing adverse supply shocks may lead to a de-anchoring of inflation expectations, a risk the Fed can hardly tolerate. As the labor market stabilizes, the current risk balance tilts more toward raising policy rates rather than lowering them.
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LEE KEE(00637.HK) announced annual result ended March 2026.The turnover declined 4.1% year on year to HK$1.966 billion. The loss swung into profit of HK$5.723 million. EPS was HK$0.69 cents. No dividend was declared.
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GEMDALE PPT (00535.HK) announced that since Huang Juncan would like to devote more time to his personal affairs and has informed the Company that he will not seek for re-election, Huang will cease to be an executive Director with effect from the conclusion of the AGM.

Accordingly, Huang will also cease to be the Chairman of the Board and the chairman of the Nomination Committee of the Company.
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CSPC PHARMA (01093.HK) announced that Anbenitamab Injection (brand name: Ennituo), co-developed by Shanghai JMT-BIO Technology Co., Ltd., a subsidiary of the Company, and Jiangsu Alphamab Biopharmaceuticals Co., Ltd., has received marketing authorisation from the National Medical Products Administration of the People’s Republic of China (NMPA).

The Product is a recombinant humanised bispecific antibody targeting human epidermal growth factor receptor 2. The approved indication is for the use of the Product in combination with chemotherapy for the treatment of adult patients with locally advanced or metastatic HER2-positive gastric or gastroesophageal junction adenocarcinoma who have received at least one prior treatment regimen containing trastuzumab.
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TRIP.COM-S (09961.HK) reiterated its confidence in the long-term prospects of the global tourism industry at the Envision Global Partner Summit held in Shanghai yesterday (28th).

The group also unveiled multiple travel innovation initiatives, partnership collaborations and development plans aimed at steering the industry into its next phase of robust growth.

Jane Sun, CEO of TRIP.COM-S (09961.HK), stated that the global tourism industry is entering a new stage marked by record-high traveler numbers, accelerated innovation and deepening partnerships.

The tourism sector accounts for approximately 10% of global GDP and even notched a record high of USD11.6 trillion in 2025, becoming one of the fastest-growing industries globally, with a growth rate more than 2x that of overall global economic growth, Sun said.

Looking ahead, the group outlined three strategic pillars for future investment and innovation under its Intelligence with Care framework. First, it aims to enhance search and booking capabilities powered by AI to provide higher-quality and faster options while delivering smarter market insights to partners.

Second, it seeks to combine AI-driven efficiency with human judgment and empathy to provide reliable support at critical moments. Lastly, the group is fortifying its position as a trusted global brand to ensure stable and compliant operations for partners and travelers across various markets.
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NT PHARMA (01011.HK) announced that, in order to alleviate the liquidity strain of the Group and to meet the needs of its strategic transformation, the Company proposes to dispose of part or all of its equity interests in NT Pharma (Overseas) Holding Co., Ltd (NT Overseas).

NT Overseas is an indirect wholly-owned subsidiary of the Company (held through NT Pharma (Group) Co., Ltd.), and through its direct wholly-owned subsidiary, NT Pharma (Asia) Company Limited, it indirectly holds 25.3% equity interests in Beijing Kangchen Biotech.

The Company has made initial contacts with potential interested purchasers in respect of the Proposed Disposal. The matter is still at a very preliminary stage of directional discussion, and no substantive plan or specific terms have been formed, nor has any legally binding agreement or memorandum of understanding been entered into.
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The Government announced its financial results for April 2026, the first month of the current financial year. Expenditure and revenue for the first month amounted to HK$62.6 billion and HK$41.5 billion respectively, resulting in a deficit of HK$16.9 billion after taking into account HK$6 billion received from issuance of Government Bonds and repayment of HK$1.8 billion principal on Government Bonds. The fiscal reserves stood at HK$648.6 billion as at April 30, 2026.

A Government spokesperson said that the deficit in April was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.
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On debut today, CREALITY(03388.HK) opened at $33.88, up 80.2% from the listing price of $18.8. Peaking/ bottoming at $34/20.88, the stock closed at $22.8, up 21.3% from the listing price of $18.8, on volume of 36.47 million shares and turnover of $1.01 billion. Excluding handling fee, the book gain was $600 per board lot size of 150 shares.
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At close, HSI rose 176 pts or 0.7% to 25,182. HSTI dropped 4 pts or 0.1% to 4,884. HSCEI gained 61 pts or 0.7% to 8,425. Market turnover reached $462.07 billion.

Active Heavyweights:
XIAOMI (01810.HK) closed at $28.04, down 1.8%
BABA (09988.HK) closed at $120.9, down 0.7%
TENCENT (00700.HK) closed at $427.2, up 0.5%
MEITUAN (03690.HK) closed at $73.45, up 0.2%
CCB (00939.HK) closed at $8.49, up 0.1%

HSI & HSCEI Constituents on Move:
LENOVO GROUP (00992.HK) closed at $24, up 22%, hitting new high
SUNNY OPTICAL (02382.HK) closed at $83.8, up 13.8%
INNOVENT BIO (01801.HK) closed at $83.35, up 11.4%
CSPC PHARMA (01093.HK) closed at $7.5, up 7.8%
SMIC (00981.HK) closed at $81.6, down 7.5%
POP MART (09992.HK) closed at $173.4, up 7.4%
HORIZONROBOT-W (09660.HK) closed at $5.29, down 7%
LONGFOR (00960.HK) closed at $7.85, up 4.9%
CHINA RES POWER (00836.HK) closed at $21.26, up 4.6%
LI AUTO (02015.HK) closed at $57.85, down 4.3%
CATL (03750.HK) closed at $744.5, up 3.8%
WUXI APPTEC (02359.HK) closed at $130.3, up 3.8%
XPENG-W (09868.HK) closed at $63.85, down 3.8%
SINO BIOPHARM (01177.HK) closed at $4.99, up 3.7%
BIDU-SW (09888.HK) closed at $130, up 3.5%
LAOPU GOLD (06181.HK) closed at $504, up 3.4%
BANKCOMM (03328.HK) closed at $7.3, up 3.3%
HAIDILAO (06862.HK) closed at $12.76, up 3.2%
CHINA OVERSEAS (00688.HK) closed at $15.62, up 3.2%

HSMI & HSSI Constituents on Move:
CIRRUS (02507.HK) closed at $38.56, up 18.8%
51WORLD (06651.HK) closed at $96.95, down 16.4%
COUNTRY GARDEN (02007.HK) closed at $0.243, up 16.3%
PATEO (02889.HK) closed at $201.2, down 15.5%
TANWAN (09890.HK) closed at $13.8, up 13.9%
MOBVISTA (01860.HK) closed at $16.16, up 12.5%
LEGENDHOLDING (03396.HK) closed at $16.46, up 12%, hitting new high
DEEPEXI TECH (01384.HK) closed at $58.15, down 11.4%
GIANT BIOGENE (02367.HK) closed at $30.06, up 11.3%
INSILICO (03696.HK) closed at $41.58, down 10.2%
CF PHARMTECH (02652.HK) closed at $22.22, up 10%
HUANENG POWER (00902.HK) closed at $7.27, up 6.9%, hitting new high
CHINA POWER (02380.HK) closed at $3.72, up 4.2%, hitting new high
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KNOWLEDGE ATLAS (02513.HK) once peaked at HKD1,993 in the afternoon session, surging more than 23%. However, after hitting a new record high, the share price softened and last dived 3.5% at HKD1,561. Turnover amounted to HKD3.523 billion.

KNOWLEDGE ATLAS will be officially included in the HSTECH on June 8 and is also expected to become eligible for Southbound trading under Stock Connect.
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CITIC SEC (06030.HK) announced a proposed issuance of 794 million H shares to its largest shareholder CTBC Financial Holding at HKD23.13 per share, representing an 8% discount to yesterday's (28th) closing price of HKD25.14. Total gross proceeds will amount to RMB16 billion, fully subscribed in cash by CTBC Financial Holding.

CITIC SEC once leapfrogged 8.7% to a peak of HKD27.32 this morning (29th). It last stood at HKD26.28, up 4.53%, with turnover of 12.113 million shares, involving HKD321 million.
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FWD (01828.HK) held its first AGM, with Chairman Frederick Ma saying there is currently no plan to repurchase shares, though the board may discuss the matter later.

FWD last quoted at HKD29.9, down 1.19%, way below its listing price of HKD38. Ma said management hopes the share price will not only return to the listing price but even drift higher.

Regarding AI applications, FWD founder Richard Li said the company is studying how to leverage AI to better understand customer demand for products, correct errors made by sales personnel during the sales process, and enable the company to process claims more swiftly.
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Hong Kong Chief Executive will soon lead a trade delegation to Central Asia. Mary Huen, Chief Executive Officer of Standard Chartered Hong Kong and Greater China & North Asia, who will join the delegation, said this is the largest trade delegation of the current-term government, fully demonstrating Hong Kong's determination to expand into emerging markets and deepen its international trade and economic network.

Huen noted that Central Asia is a key hub of the Belt and Road Initiative. Kazakhstan, as a core country in the region, is ambitiously developing infrastructure and innovative industries. As an international financial center, Hong Kong can leverage its strengths in financial infrastructure, capital markets and financial technology to meet the needs of local markets and promote "hub-to-hub" cooperation.

Standard Chartered has an extensive international network covering more than 75% of Belt and Road markets, and continues to assist clients in expanding cross-border businesses. Currently, Standard Chartered has established a solid client base in Kazakhstan, covering sovereign wealth funds and state-owned enterprises.
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SERES (09927.HK) Chairman Zhang Zhengping stated that the all-new AITO M9 is equipped with six lidar units, which are not inferior to Tesla's FSD in this regard.

While FSD simulates human visual driving logic, Huawei's Qiankun Intelligent Driving can achieve a state that goes "beyond what human eyes can see".

As for which intelligent driving system is better, he said the market will have its own judgement.

He added that, to date, cumulative assisted driving mileage of AITO vehicles has exceeded 7.7 billion kilometers, with total users surpassing 537,000.
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At midday close, HSI rose 275 pts or 1.1% to 25,281. HSTI rose 81 pts or 1.7% to 4,969. HSCEI gained 106 pts or 1.3% to 8,471.

Active Heavyweights:
MEITUAN (03690.HK) closed at $75.5, up 3%
TENCENT (00700.HK) closed at $436.2, up 2.6%
XIAOMI (01810.HK) closed at $28.04, down 1.8%
BABA (09988.HK) closed at $123.7, up 1.6%

HSI & HSCEI Constituents on Move:
LENOVO GROUP (00992.HK) closed at $24.4, up 24%, hitting new high
INNOVENT BIO (01801.HK) closed at $82.45, up 10.2%
POP MART (09992.HK) closed at $176.6, up 9.3%
HORIZONROBOT-W (09660.HK) closed at $5.17, down 9.1%
BIDU-SW (09888.HK) closed at $136.1, up 8.4%
SUNNY OPTICAL (02382.HK) closed at $79.4, up 7.8%
LONGFOR (00960.HK) closed at $7.92, up 5.9%
LI AUTO (02015.HK) closed at $57.55, down 4.8%
WUXI APPTEC (02359.HK) closed at $131.1, up 4.5%
HAIDILAO (06862.HK) closed at $12.82, up 3.7%
CHINA RES LAND (01109.HK) closed at $35.76, up 3.7%
KUAISHOU-W (01024.HK) closed at $46.44, up 3.5%
SANDS CHINA LTD (01928.HK) closed at $15.4, up 3.4%
CSPC PHARMA (01093.HK) closed at $7.19, up 3.3%
WH GROUP (00288.HK) closed at $9.08, up 3.3%
CATL (03750.HK) closed at $740, up 3.2%
CHINA OVERSEAS (00688.HK) closed at $15.62, up 3.2%
BEKE-W (02423.HK) closed at $43.98, up 3.1%
XPENG-W (09868.HK) closed at $64.35, down 3%

HSMI & HSSI Constituents on Move:
CIRRUS (02507.HK) closed at $39.08, up 20.4%
COUNTRY GARDEN (02007.HK) closed at $0.249, up 19.1%
51WORLD (06651.HK) closed at $98.5, down 15.1%
PATEO (02889.HK) closed at $207, down 13%
LEGENDHOLDING (03396.HK) closed at $16.56, up 12.7%, hitting new high
CHINA VANKE (02202.HK) closed at $2.85, up 12.2%
YOFC (06869.HK) closed at $233.6, up 11.3%
DEEPEXI TECH (01384.HK) closed at $58.2, down 11.3%
JIAXIN INTL RES (03858.HK) closed at $87.3, up 10.2%
SUNAC (01918.HK) closed at $0.98, up 10.1%
INSILICO (03696.HK) closed at $41.66, down 10.1%
HUANENG POWER (00902.HK) closed at $7.14, up 5%, hitting new high
CHINA POWER (02380.HK) closed at $3.67, up 2.8%, hitting new high
KINGBOARD HLDG (00148.HK) closed at $67.25, up 2.6%, hitting new high
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Web Site: www.aastocks.com

On debut today, CREALITY(03388.HK) opened at $33.88, up 80.2% from the listing price of $18.8. Peaking/ bottoming at $34/22.54, the stock closed midday at $25.62, up 36.3% from the listing price of $18.8, on volume of 26.48 million shares and turnover of $777.02 million.
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Overnight HIBOR last posted at 3.02393%, logging a 1-month high, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 2.60923%.

HIBOR
Tenor | Latest rate | Change (vs. last trading day)
Overnight | 3.02393% | +29.905 bps
1-Week | 2.51393% | -8.821 bps
1-Month | 2.60923% | -4.22 bps
3-Month | 2.82708% | -4.375 bps
6-Month | 2.97226% | -2.345 bps
12-Month | 3.17679% | +0.072 bps

Information as of: 2026-05-29 11:15
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AAStocks Financial News
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POP MART (09992.HK), with amplified upswing, ballooned 10.34% to HKD178.2, with turnover of HKD6.045 billion.

Wang Ning, Chairman and CEO of POP MART, said yesterday that the AI industry is a major hotspot at the moment. While science and technology enable people to survive, culture and art give life meaning. He hopes that culture and art can be integrated into daily life through POP MART's efforts, delivering more products and services that bring joy and positivity, ultimately building a truly world-class enterprise and brand.

H&H International Investment, the family office of renowned Mainland Chinese investor Duan Yongping, increased its holdings in POP MART by 9.8232 million shares on Monday (25th) at an average price of HKD150 per share, involving HKD1.473 billion, according to disclosures by the Stock Exchange. Its stake rose from 4.96% to 5.69%, crossing the 5% disclosure threshold.
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Although the structural growth and rapid commercialization of Kling AI at KUAISHOU-W (01024.HK) present attractive long-term optionality, the stock faces severe operational headwinds in the near term, which may lead to further downward revisions to earnings forecasts, Nomura said in its report.

Management's conservative guidance for 2Q26 indicated a clear slowdown in growth of its core revenue streams, while upfront investment in AI infrastructure is exerting pressure on margins.

KUAISHOU-W management maintained its full-year capex guidance at RMB26 billion, of which approximately RMB12 billion had already been spent in 1Q. If competition forces faster model upgrades or expansion of computing power, there remains upside risk to capex.

The broker kept its earnings forecasts for FY2026 and FY2027 largely unchanged, lowered the TP for KUAISHOU-W from HKD57 to HKD51, and maintained a Neutral rating. It also expected gross margin to narrow by 2.3 ppts in 2026, followed by further declines of 0.5 ppts and 0.4 ppts in FY2027 and FY2028, respectively.
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LENOVO GROUP (00992.HK) recently signed an agreement with the Tianjin Municipal Government to build next-generation artificial intelligence (AI) infrastructure.

Pursuant to the agreement, LENOVO GROUP will invest in the construction of a next-generation AI computing power product R&D and manufacturing center within the Lenovo (Tianjin) Smart Innovation Service Industrial Park, aiming to seize a leading position in industry competition.

The new production line is scheduled to commence mass production in the autumn of 2027.
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