Posts for August 31, 2026

According to ETNet, institutional investors adjusted holdings in several listed companies in late August, including ZTE, Kuaishou, Xiaomi, Da Tong Group, WuXi XDC, Tigermed and Flat Glass Group.

BlackRock reduced its long position in ZTE by 130,000 shares on August 26, 2026, and trimmed holdings in Kuaishou by 580,000 shares and in Xiaomi by 2.38 million shares on the same date.

Protoss Fund lifted its stake in Da Tong Group by 16.5 million shares on August 26, 2026.

Schroders cut its holding in WuXi XDC by 530,000 shares on August 28, 2026, but added 2.28 million shares on August 27, 2026. It also increased its position in Tigermed by 430,000 shares on August 27, 2026.

Shanghai Ningquan Asset Management raised its stake in Flat Glass Group by 780,000 shares on August 26, 2026.

Major shareholders disclosed changes in holdings across a range of Hong Kong listed companies, according to ETNet.

Schroders Plc reduced its stake in WuXi XDC Cayman (02268) by 530,000 shares on August 28, 2026, after adding 2.28 million shares on August 27.

BlackRock, Inc. trimmed holdings in ZTE (00763), Kuaishou-W (01024) and Xiaomi (01810) on August 26, while Taobao China cut its stake in E-House China Enterprise (02048) on August 28.

Other disclosed increases included Thomson Group (00258), Meiya Entertainment (00391), Sun Art Retail Group (00393), Gome Retail (00493), Da Tong Group (00544), Tao Heung Holdings (00573), China High Speed (00658), Asia Allied Infrastructure (00679), China Smarter Energy (00681), Hong Kong Technology Venture (01137), Comba Telecom Systems (01473), China Smartpay Group (01796), Hengan International (01882), Comtec Solar Systems Group (01912), Xunlei Cloud (02392), Tigermed (03347), VStecs Holdings (03393), Henry Group Holdings (03638), Flat Glass Group (06865) and Zhong An Holdings (08462).

Hong Kong Exchanges and Clearing (HKEX) published the top 10 most active Southbound stocks through the Shanghai and Shenzhen links on July 31, according to ETNet. The list comprises Zhipu (02513), MiniMax (00100), Kingboard Laminates (01888), Yangtze Optical Fibre and Cable (06869), China Construction Bank (00939), Tencent (00700), SMIC (00981), Alibaba (09988), Meituan (03690) and ICBC (01398).

Shanghai link: Zhipu posted net selling of HK$858.10 million, and MiniMax posted net selling of HK$524.59 million. Meituan recorded net buying of HK$334.44 million, while Tencent saw net buying of HK$182.54 million. China Construction Bank registered net selling of HK$1.03 billion.

Shenzhen link: Meituan registered net selling of HK$1.19 billion, and Tencent posted net buying of HK$229.09 million. MiniMax posted net buying of HK$115.41 million, and Kingboard Laminates posted net buying of HK$145.72 million. Additional names among the most active in Shenzhen included Hua Hong Semiconductor (01347), WuXi Biologics (02269) and Shandong Gold Mining (01787).

The head of the Bank for International Settlements, Pablo Hernández de Cos, warned on August 28 that stablecoins could raise borrowing costs as banks broaden their activities in digital money, potentially squeezing banks’ deposit bases and driving the development of new products.

Federal Reserve researchers view these tokens as possible rivals to traditional transaction accounts.

The discussion notes ongoing industry efforts, including JPM Coin from JPMorgan Chase, CoinVertible from Société Générale‑FORGE, and a planned euro-stablecoin from Qivalis.

A federal jury ruled in favor of Reckitt Benckiser's Mead Johnson unit in the first bellwether trial over allegations that its infant formula for premature babies is linked to a deadly bowel disease.

The case is part of a federal multidistrict litigation comprising lawsuits accusing the product of causing the illness.

U.S. regulators have again postponed a rule requiring hedge funds to disclose certain financial details. The measure is designed to give agencies insight into hedge funds' financial positions during periods of market stress.

Bloomberg reports that this postponement marks the fourth delay for the disclosure requirements intended to increase transparency for market oversight.

In a White House interview cited by Jin10, Trump said the Strait of Hormuz saw heavy traffic overnight, with an average of about 30 ships crossing the route and a large amount of oil moving through the strait.

He added that he may take military action against Iran and noted that U.S. interest rates are currently too high.

During the remarks, he also expressed respect for Federal Reserve Chair Kevin Warsh.

According to Wallstreetcn, ICE raw sugar futures rose 21.35% in August, ICE Arabica coffee futures rose 3.84%, while coffee \"C\" futures declined 0.21%.

New York cocoa futures climbed 22.25% to $6,768 per ton, Chicago WCE double-low rapeseed futures gained 5.69%, and ICE cotton futures advanced 13.67%.

Wallstreetcn reported that, at the New York close on Monday, August 31, the Bloomberg Grains Index slipped 0.29% to 35.3385, leaving August up 13.72% after trading near the 31-point level from August 3–11 and forming an intra-month bottom before turning higher.

CBOT corn futures rose 15.84% to $5.3750 per bushel, CBOT wheat futures advanced 18.49% to $7.7525 per bushel, and CBOT soybeans climbed 8.44% to $12.8775 per bushel; soybean meal gained 7.55% and soybean oil rose 6.81%.

On the downside, CBOT lean hog futures declined 1.38%, live cattle futures fell 6.62%, and feeder cattle futures dropped 5.58%.

Axios reports that Interior Secretary Doug Burgum said in a Monday interview that President Trump personally asked Apple to rename Lake Ontario to 'Lake America' on Apple Maps.

The request came after Google changed the lake's name for U.S. users on Saturday, affecting both mobile and desktop platforms.

According to Wallstreetcn, Chevron, Indian Oil and Natural Gas Corp., Eni, GE Vernova, and GeoPark are close to finalizing energy agreements with Venezuela. The prospective deals are expected to boost oil production and exports while advancing a range of new energy projects aligned with the South American nation's revised oil and gas law.

A Wells Fargo analyst, Timna Tanners, says Canada’s retaliatory tariffs on US steel and aluminum are largely symbolic, according to Bloomberg.

The ongoing dispute has already made American metals more costly to import.

Legend Strategy International Holdings (1680) released its interim results for the six months ended June 30, the first since the company exited the satellite casino business at the end of last year.

The company said it was no longer affected by impairment related to the satellite casino business, according to Ming Pao.

Shareholders’ loss narrowed to HK$136 million from HK$1.43 billion a year earlier, and no interim dividend was declared, unchanged from the same period last year.

Wallstreetcn reported that on Monday, August 31, the FTSE/JSE Africa Top 40 tradable index slipped 1.73%, placing it below the 109,000-point threshold after a 5.33% advance in August.

During the same period, spot gold rose 9.30% for August, while the South African rand strengthened 2.47% against the U.S. dollar to 16.1152 per dollar.

Bloomberg reported that Wells Fargo equity research analyst Timna Tanners warned that the rally in steel prices may be nearing its peak, arguing that elevated prices could attract imports and encounter pressure from new domestic capacity.

She added that Canada’s looming counter-tariffs are largely symbolic, and that Nucor and Steel Dynamics could outperform if steel prices retreat.

On August 31 local time, Iranian Armed Forces senior spokesman Shekarchi asserted that the United States cannot claim the Strait of Hormuz as its own and that Tehran is determined to expel American forces from West Asia.

He said Iran has employed new asymmetric tactics against highly advanced joint U.S.-Israeli weapon systems in an unequal conflict, claiming to have inflicted heavy losses on the U.S.-Israel coalition.

The spokesman also said Iranian drones and ballistic missiles penetrated defenses and hit U.S. bases and predetermined targets in occupied territories, although at a steep economic cost.

LIV Golf appears poised to seek bankruptcy protection as early as next week, according to people familiar with the matter cited by Bloomberg.

Shengyi Electronics said its wholly owned subsidiary Ji'an Shengyi Electronics will invest about 2.257 billion yuan in a high-speed interconnect circuit board manufacturing project named Chip-Smart Connectivity, focused on AI servers and automotive electronics.

The project has a 36-month construction period and is expected to start on September 28, 2026. When completed, it will add 445,900 square meters of annual capacity for high-end HDI boards of four or more layers.

About 2.158 billion yuan of the total investment is new spending; the remainder has already been used for plant construction.

Shengyi said the project aims to free up more capacity for four-layer-and-above high-end HDI products.

The project still requires government filing and approvals for environmental and energy assessments.

Jiemian News noted the expansion comes as Shengyi Electronics is pursuing other capacity projects, including the Dongguan AI computing HDI base, which began construction in the first half of the year.

In the first half of 2026, Shengyi Electronics reported revenue of 5.784 billion yuan, up 53.46% from a year earlier, and net profit attributable to shareholders of 1.111 billion yuan, up 109.36%, with a gross margin of 34.31%.

As of June 30, the company carried 407 million yuan in cash, 3.725 billion yuan in accounts receivable, 2.29 billion yuan in inventory, and 4.012 billion yuan in notes and accounts payable, with 2.142 billion yuan in short-term borrowings. The debt-to-asset ratio rose to 53.76% from 45% a year earlier.

The company warned the project could be delayed, changed, suspended or terminated if financing falls short or if market demand, product prices or the overall business rollout deviates materially from expectations.

Australian private credit funds are seeking to reassure investors after the Bathla Group collapse, according to Bloomberg.

The incident has sparked fears that the industry’s sizable exposure to the property sector could be turning sour.

Two people familiar with the matter said the Trump administration is expected to approve a broader exemption from U.S. refinery biofuel blending requirements as early as Monday to ease pressure from rising gasoline prices.

The Environmental Protection Agency is anticipated to grant a new annual round of exemptions to a group of small refineries, covering more than 1.8 billion renewable fuel credits, with Marathon Petroleum and Chevron among the companies seeking exemptions.

People familiar with the matter also said the EPA is considering a plan to offset the impact on farmers by reopening 2027 biofuel quotas and adding about 500 million renewable fuel credits, possibly more.

Bloomberg reported that Arminio Fraga, a prominent figure in Brazil’s hedge-fund sector, said earlier this month he would transfer his funds to the country’s fourth-largest bank as double-digit rates complicate keeping such a fund open.

He added that the returns available from Brazil’s rate environment are now too high to attract a sufficient number of clients.

Southbound turnover surged for Zhipu (02513), MiniMax (00100) and Meituan (03690), with Zhipu and MiniMax among the top-10 names in the Shanghai-Hong Kong Stock Connect and Meituan among the top 10 in the Shenzhen-Hong Kong Stock Connect, according to ETNet.

Zhipu posted combined southbound turnover of HK$4.581 billion and a net sell of HK$858 million. MiniMax recorded combined turnover of HK$3.874 billion and a net sell of HK$525 million. Meituan had combined turnover of HK$2.273 billion and a net sell of HK$1.189 billion.

China Construction Bank (00939) and Industrial and Commercial Bank of China (01398) also returned to the Shanghai-Hong Kong Stock Connect top 10 after 81 days and 82 days respectively. Southbound investors bought HK$275 million and HK$166 million of the two lenders, while selling HK$1.306 billion and HK$745 million, leaving net sales of HK$1.03 billion and HK$579 million.

Shandong Gold (01787) re-entered the Shenzhen-Hong Kong Stock Connect top 10 after 135 days. Southbound investors bought HK$281 million and sold HK$376 million, resulting in a net sell of HK$95.32 million.

An equity filing shows Wong Wai-Kee widened his stake in Hong Kong Technology Venture (stock code 1137) by 159,000 shares on August 28, at an average price of HK$1.0284 per share. The disclosure lifts his ownership from 46.7% to 46.72%, Ming Pao reported.

Evergrande Property (06666) reported an interim net profit of RMB 517 million for the six months ended June 30, 2026, up 9.5% from a year earlier.

The group said it will not declare an interim dividend.

Revenue for the period rose 4.5% to RMB 6.943 billion. Basic earnings per share stood at 5 fen.

In a discussion on the Milk Road Show, Bitmine chairman Tom Lee said that asset tokenization and AI-driven finance will be the dominant crypto narratives over the next five years, with Ethereum positioned as a potential global settlement layer for finance.

Lee noted that ETH remains significantly undervalued relative to Bitcoin, according to ChainCatcher.

He outlined four catalysts for Ethereum in the remainder of 2026: the possible passage of the U.S. Clarity Act in September; the return of offshore short positions and sidelined capital; renewed Asian investor allocations into crypto assets; and greater activity from global institutional fund managers seeking to outperform through quarterly performance considerations.

He suggested the ETH/BTC ratio could revisit its historical high near 0.08, and even a move to 0.04 could place Ethereum around $6,000 if Bitcoin reaches about $150,000.

Beyond Bitcoin, Lee acknowledged long-term upside but emphasized that the broader trend for the crypto industry over the next five years will be a supercycle of full asset tokenization and AI-driven finance.

A Reuters survey cited by Jin10 indicates Saudi Arabia is weighing a higher official selling price (OSP) for crude sold to Asia in October, following a rally in Middle East spot crude markets driven by tighter supply and stronger demand.

The poll of five refinery sources shows Arab Light, the flagship grade, may be priced at parity with the Oman/Dubai average or at a premium of up to $4 per barrel, implying a rise of $2 to $6 per barrel from September. In September, Saudi Arabia’s Asia OSP was set at a discount—the lowest level in six years.

The anticipated increase comes as Middle East spot markets strengthened, with the Dubai crude spot premium to swaps rising to $13.58 per barrel on August 21, the highest since late May. The monthly average premium this month was about $9.71 per barrel, versus $1.26 per barrel in July, and Oman crude spot differentials also strengthened by a similar magnitude.

Paul Krugman described Powell's Jackson Hole address as conventional and not indicative of an impending shift toward a more aggressive policy stance, according to ETNet.

Powell reiterated the Fed's objective of returning inflation to 2%, a stance markets interpreted as hawkish and supportive of bets on a potential September rate increase.

Krugman said Powell did not signal a rate cut or accommodate calls from President Trump for lower borrowing costs, instead sticking to standard inflation measures and suggesting a hawkish bias until price pressures ease.

ABN AMRO investment director Christophe Boucher said the remarks did not sufficiently convince him that policymakers will act. He is avoiding long-dated bonds, citing their sensitivity if markets worry the Fed cannot contain inflation. He also warned that if Powell does not back a September rate hike and inflation remains sticky, credibility concerns for the Fed could reemerge.

Citing Jin10, market observers pegged the probability of a September rate hike at about 60.4% after Kevin Warsh signaled a firmer policy stance.

Separately, the Treasury Department is increasing purchases of long-dated U.S. Treasuries in a bid to manage financing costs.

Hengxing Power announced that it has completed a Pre-A financing round led by Guokai Kechuang, the equity investment platform of the China Development Bank. Other participating investors include Shanghai Future Industry Fund, Xinding Capital, Changshi Capital, BV Baidu Ventures, Yunbo Capital, Mingyu Venture Capital and Yuanshi Fund, with existing shareholders Cathay Capital and Houxue Capital continuing to invest.

The company said the new capital will be used to expand its aerospace engineering team, advance space-based photovoltaic engineering, and develop the upstream and downstream segments of its space power business.

The Shanghai Composite closed up 0.26% at 3,962.52 after erasing earlier losses.

The CSI 300 fell 0.28%, the Shenzhen Component dropped 0.29% and the ChiNext Index gave up 0.41%, according to ETNet.

Shanghai B shares rose 1.33% while Shenzhen B shares declined 0.80%.

AI-related stocks strengthened, with pharmaceuticals and non-ferrous metals among the main decliners.

The Hong Kong dollar's overnight interbank rate (HIBOR) rose to 4.1% at 11:15 a.m., up from 3.42% at the previous close, according to ETNet. The one-week HIBOR was unchanged at 3.23%.

Other HIBOR tenors were quoted as follows: one month 2.85%, two months 2.95%, three months 3.02%, six months 3.23% and one year 3.51%.

The USD/HKD was quoted at 7.8378/8408, while the yuan was quoted at 6.7212/7219 per US dollar. The one-year offshore yuan non-deliverable forward stood at 6.5810/5892, implying a discount of 1,365 points versus the spot.

China Vanke (01109) declined 7.5% to HK$30.68, extending its three-session losing streak to a total 11.8%, according to ETNet. About 45.15 million shares changed hands, valued at roughly HK$1.427 billion.

Mainland property stocks had initially edged higher after China extended the maximum term for personal housing loans from 30 years to 40 years, a move expected to reduce monthly repayments by about 15%. The rally faded as expectations for global rate hikes increased. China Overseas (00688) fell 6.6%, Yuexiu Property (00123) down 13%, China Jinmao (00817) down 15%, Longfor (00960) off 6.2%, Sunac China (01918) down 5.2%, and Shimao Group (00813) slipped 3.4%.

On Aug. 28, the People’s Bank of China and the National Financial Regulatory Administration jointly issued a notice aimed at reforming and improving real estate credit management and accelerating a new model for property development. ETNet reported that with a RMB 1 million mortgage at 3% interest under equal principal and interest repayments, the monthly payment would fall from RMB 4,216.04 over 30 years to RMB 3,581.02 over 40 years, a reduction of RMB 635.02, about 15%.

Separately, Kevin Warsh's Jackson Hole remarks were hawkish, suggesting that stronger CPI and PCE readings this summer would not by themselves signal a meaningful improvement in the underlying inflation trend. After the speech, interest-rate futures shifted to pricing in a 25-basis-point rate hike in September, with the probability rising to 57%.

The yield on India's 10-year benchmark government bond climbed to a fresh peak not observed since June 11, as reported by Jin10.

GHW Intl said its wholly owned subsidiary GHW International (Malaysia) SDN BHD has signed a sale and purchase agreement with seller MCKILP Development SDN BHD to acquire a land plot in Malaysia for about RMB 76.93 million, funded by internal resources.

The land will be used to establish a production plant to support the group's international trade business.

The board noted that the acquired plot is rectangular, making it more suitable for development than the trapezoidal plot referenced in an agreement signed on February 19, 2024.

Tianji Holdings (01520) has signed an investment cooperation agreement with Gauss Technology (Hong Kong) Co. to create a joint venture in Hong Kong focused on expanding artificial intelligence capabilities and continuous learning initiatives.

The venture will leverage existing IP content and real-world operating scenarios to transform the AI application-layer strategy into user-facing products.

Tianji Holdings will hold a 51% stake in the new entity, while Gauss Technology will own 49%.

JD Health International (06618) declined 2.73% to HK$35.68 at 9:46 am, marking a one-month low. Its RMB-denominated counter (86618) dropped 2.4% to RMB30.66, according to ETNet.

The stock has fallen in four straight sessions, for a total decline of 5.96%.

Miniso Group Holding (09896) slumped 9.93% to HK$19.13, a 52-week low, and has fallen for three consecutive sessions for a cumulative loss of 15.13%.