【Today’s Headlines】
Hong Kong Monetary Authority intervenes twice in one day, selling HKD 12.788 billion, totaling HKD 129.4 billion in injections this year
According to Zhitong Finance APP, the Hong Kong dollar has long been touching the strong side of the 7.75 exchange guarantee. On May 6, the Hong Kong Monetary Authority (HKMA) intervened twice in the market to maintain the Hong Kong dollar's peg, announcing in the early morning Hong Kong time that it had sold HKD 60.543 billion (equivalent to USD 7.812 billion). In the afternoon, the HKMA announced that it also sold HKD 12.788 billion (equivalent to USD 1.650 billion) during the Hong Kong trading session, bringing the balance of the Hong Kong banking system to HKD 174.1 billion.
HKMA President Eddie Wu stated that the demand for the Hong Kong dollar continues to rise, driven mainly by stock-related demand, and there have been no abnormal activities observed for the Hong Kong dollar. He expects arbitrage trading for the Hong Kong dollar/USD in the coming months and will remain vigilant about uncertainties. The HKMA has been reducing the duration of its holdings in U.S. Treasury bonds; Hong Kong's foreign exchange fund has been diversifying investments in non-U.S. assets; and it has been diversifying currency exposure in its investment portfolio to manage risks.
【Market Outlook】
Spot gold rises above USD 3,400 again after two weeks
Overnight, U.S. stocks closed with the Dow Jones down 389.83 points, a decrease of 0.95%, closing at 40,829.00 points; the Nasdaq fell 154.58 points, a decrease of 0.87%, closing at 17,689.66 points; and the S&amp;P 500 index dropped 43.47 points, a decrease of 0.77%, closing at 5,606.91 points. Most large tech stocks fell, with Meta down 2%, Tesla and Intel down over 1%, and Apple, Microsoft, Google, and Amazon slightly down; most popular Chinese concept stocks rose.
The Nasdaq Golden Dragon China Index closed up 0.42%. WeRide surged over 31%, and Pony.ai rose over 47%, announcing on May 6 that they would expand cooperation or reach cooperation with Uber. The Hang Seng Index ADR rose, closing at 22,831.34 points, up 168.63 points or 0.74% compared to the Hong Kong close.
Fighting broke out between Pakistan and India in Pakistan-controlled Kashmir, and spot gold rose above USD 3,400 again after two weeks. The price of light crude oil futures for June delivery on the New York Mercantile Exchange rose by USD 1.96, closing at USD 59.09 per barrel, an increase of 3.43%.
【Hot Topics Ahead】
Central Bank and other departments to introduce a package of financial policies to support market stability and expectations
The State Council Information Office will hold a press conference at 9 a.m. on May 7, inviting officials from the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission to introduce the relevant situation of the &#34;package of financial policies to support market stability and expectations&#34; and answer reporters' questions.
Hong Kong Exchanges and Clearing and the Hong Kong Securities and Futures Commission officially launch &#34;Tech Company Direct Line&#34;
Zhitong Finance APP learned that on May 6, the Hong Kong Securities and Futures Commission and Hong Kong Exchanges and Clearing issued a joint announcement, officially launching the &#34;Tech Company Direct Line&#34; to further facilitate the listing applications of specialized technology companies and biotechnology companies, allowing these companies to submit listing applications confidentially. In addition, the Exchange has updated the &#34;New Listing Applicant Guide&#34; to clarify that these two types of companies will be considered to have met the requirements for innovative industry companies and external recognition as stipulated in Chapter 8A of the Main Board Listing Rules when adopting different voting rights structures for listing
If negotiations fail, the EU will impose tariffs on 100 billion euros of US goods
According to informed sources, if the ongoing trade negotiations do not yield satisfactory results for the EU, the EU plans to impose additional tariffs on approximately 100 billion euros of US goods. The sources said that the proposed retaliatory measures will be shared with member states as early as Wednesday, with consultations lasting a month before finalizing the list. Earlier reports indicated that the European Commission is expected to share a document with the US this week in an attempt to initiate negotiations. The EU's proposal is expected to include reducing trade and non-tariff barriers, as well as increasing investment in the US. Negotiations between the EU and the US officially began last month, but progress has been minimal, with most US tariffs expected to remain unchanged. The EU stated on Tuesday that the trade investigation initiated by Trump will increase the number of goods subject to tariffs to 549 billion euros.
State Post Bureau: During the &#34;May Day&#34; holiday, the national postal and express delivery industry handled over 4.8 billion packages, a year-on-year increase of over 20%
According to monitoring data from the State Post Bureau, during the 2025 &#34;May Day&#34; holiday (May 1 - May 5), the national postal and express delivery industry handled over 4.8 billion packages, a year-on-year increase of over 20%, setting a historical high for the same period. The data reflects the stable development trend of China's consumer market, with strong momentum for high-quality economic development.
TravelSky: During the &#34;May Day&#34; period, the number of passenger flights on inbound and outbound routes increased by about 12% year-on-year
On June 6, reporters learned from TravelSky that during the &#34;May Day&#34; holiday, the actual number of passenger flights executed on domestic routes exceeded 68,000, a year-on-year increase of about 3%; the passenger transport volume on domestic routes exceeded 9.23 million, a year-on-year increase of about 9%. The actual number of passenger flights executed on inbound and outbound routes exceeded 11,000, a year-on-year increase of about 12%. The top ten popular outbound destinations were Seoul, Hong Kong, Osaka, Tokyo, Bangkok, Singapore, Kuala Lumpur, Macau, Taipei, and Moscow. This involves the Hong Kong stock market's civil aviation sector.
During the &#34;May Day&#34; holiday, the daily passenger flow at Gongbei Port reached the highest record in nearly 5 years
On June 6, the Gongbei Border Inspection Station announced that from May 1 to May 5, the station inspected nearly 1.9 million inbound and outbound travelers between Guangdong and Macau, a year-on-year increase of 21.5%; the average daily passenger flow was nearly 380,000, with a single-day peak passenger flow of 438,800, both setting the highest records in nearly 5 years. This involves the Hong Kong stock market's Macau sector.
Haidilao (06862): The highest table turnover rate during the &#34;May Day&#34; holiday exceeded 12 rounds per store
During the &#34;May Day&#34; holiday, Haidilao hot pot restaurants in cities such as Beijing, Shanghai, Hangzhou, Guangzhou, and Chengdu generally welcomed high customer traffic, with the Haidilao hot pot restaurant located by West Lake in Hangzhou achieving a table turnover rate exceeding 11 rounds for 4 consecutive days, peaking at over 12 rounds, ranking first in the nationwide table turnover rate during the holiday.
Zhongchuang Xinhang (03931) plans to invest nearly 1.2 billion yuan to acquire and subscribe for 22.61% equity in Suao Sensor (300507.SZ)
According to the Zhitong Finance APP, Zhongchuang Innovation (03931) announced that on May 6, 2025, the company entered into a share transfer agreement and a voting rights waiver agreement with Mr. Li Hongqing. Accordingly, the company intends to acquire 87,620,380 A shares of Suao Sensor (300507.SZ) from Mr. Li Hongqing, accounting for 11.00% of the total issued share capital of the target company as of the date of this announcement. The price per share is RMB 5.83, and the total consideration for this acquisition is approximately RMB 511 million. At the same time, the seller agrees to waive the voting rights corresponding to part of the shares held in the target company (155,725,311 A shares) during the waiver period, accounting for 19.55% of the total issued share capital of the target company as of the date of this announcement. This acquisition and the waiver of voting rights are inseparable and are not contingent upon this subscription.
Yuejiang (02432) and others invest in Zhongke Fifth Epoch, which includes intelligent robotics business
According to Qichacha APP, recently, Zhongke Fifth Epoch Intelligent Technology Co., Ltd. underwent a business change, with Yuejiang and others added as shareholders. Qichacha information shows that the company was established in 2024, with Liu Nianfeng as the legal representative, and its business scope includes: research and development of intelligent robots; development of artificial intelligence theories and algorithm software; development of artificial intelligence application software; sales of intelligent robots, etc.
Beijing Jingcheng Machinery Electric Company (00187) subsidiary Tianhai Hydrogen Energy plans to increase capital and expand shares
According to the Zhitong Finance APP, Beijing Jingcheng Machinery Electric Company (00187) announced that its wholly-owned subsidiary Beijing Tianhai Hydrogen Energy Equipment Co., Ltd. (Tianhai Hydrogen Energy) intends to introduce investors through capital increase and share expansion in a pre-listing manner at a property rights trading institution to meet business development needs and enhance market competitiveness.
Yuan Da Pharmaceutical (00512) global innovative product STC3141 successfully reaches clinical endpoint in Phase II clinical study for treating sepsis in China
According to the Zhitong Finance APP, Yuan Da Pharmaceutical (00512) announced that the globally innovative drug STC3141, developed by its wholly-owned subsidiary Grand Medical Pty Ltd. (an innovative drug R&amp;D center established by the group in Australia), successfully reached the clinical endpoint in the Phase II clinical study for treating sepsis conducted in China. This clinical study is at the forefront of global sepsis research, marking another significant R&amp;D advancement for the group in the critical care field. At the same time, STC3141 is the world's first sepsis treatment plan centered on reconstructing immune homeostasis, achieving a significant upgrade in treatment dimensions. It precisely regulates the core cause of immune dysregulation, helping the body restore balance, filling the current clinical gap in the treatment of sepsis targeting the underlying cause. The success of this clinical study is expected to usher in a new era in sepsis treatment.
【Stock Highlights】
Gere Pharmaceutical-B (01672): Report on ASC47 Research Results at the European Obesity Congress
Gere Pharmaceutical announced that the company will present the research results of the fat-targeting, weight loss without muscle loss obesity candidate drug ASC47 in both oral and poster formats at the 32nd European Obesity Congress. This presentation will take place in Malaga, Spain, with the oral presentation scheduled for May 13, 2025, and the poster presentation on May 14, 2025. ASC47 is a fat-targeting, ultra-long-acting subcutaneous thyroid hormone receptor β selective small molecule agonist independently developed by Gere, capable of producing dose-dependent high drug concentrations in adipose tissue. The U.S. FDA has approved the new drug clinical trial application for ASC47 in combination with semaglutide for the treatment of obesity

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The State Council Information Office will hold a press conference on May 7 to introduce the financial policies of the central bank and other departments to support market stability. The Hong Kong Monetary Authority has recently intervened in the market twice, selling Hong Kong dollars to maintain the peg, with a total injection of HKD 129.4 billion. The Monetary Authority's president stated that the demand for Hong Kong dollars has increased, mainly driven by stock demand. U.S. stocks generally fell, with technology stocks performing weakly, but most Chinese concept stocks rose

- The Hong Kong Monetary Authority sold a total of HKD 127.88 billion to maintain the currency peg, following earlier sales totaling HKD 605.43 billion.  
- The demand for the Hong Kong dollar is driven by stock-related needs, with expectations of arbitrage trading in the coming months.  
- Meanwhile, the EU plans to impose tariffs on €100 billion of US goods if trade negotiations fail, while China's postal industry saw a record 4.8 billion packages during the recent holiday.

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NASDAQ Golden Dragon China Index

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Zhitong Hong Kong Stocks Early Knowledge | The central bank and other departments will introduce a package of financial policies to support market stability and expectations. The Hong Kong Stock Exchange launches "Special Line for Technology Enterprises."