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Posts for September 8, 2026

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NASCAR CEO Seeks Younger Fans, Emphasizes Competition

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Steve O'Donnell, NASCAR's chief executive, said the business is showing solid momentum even as the organization concentrates on attracting younger audiences and bringing new fans to race events.

He added that healthy competition among drivers offers a positive boost for the sport.

The remarks were delivered during an appearance on Bloomberg Open Interest.

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Longban Media to Suspend Trading After 93.47% Rally Triggers Review

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Longban Media said on September 8 that its shares had hit the daily limit for six consecutive trading sessions from August 31 through September 7, and rose another 9.12% on September 8.

The company noted that the stock had gained about 93.47% over August 31 to September 8, a move that far outpaced fundamentals and raised concerns about overheated sentiment, irrational speculation and a potential sharp near-term pullback, according to Jiemian News.

To safeguard investors, Longban Media said it would apply to the Shanghai Stock Exchange for a review of the abnormal price moves and suspend trading accordingly. The stock will be halted from the open on September 9, 2026, and will resume trading once the review results are disclosed.

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Hyperion DeFi Raises 2026 Guidance, Authorizes Up to $20 Million Buyback

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Hyperion DeFi announced on September 8, 2026 that it increased its full-year 2026 adjusted gross profit guidance to a range of $7 million to $8 million from $5 million to $7 million. The Nasdaq-listed company notes it is the first U.S.-listed DeFi firm built on the Hyperliquid platform.

Management also said adjusted net operating cash flow is expected to turn positive in the third quarter of 2026, earlier than its prior target of achieving positive cash flow by year-end.

The company projects core operating income to become positive in Q3, with adjusted gross profit from its core DeFi business likely to surpass operating expenses excluding stock-based compensation for the first time. For the quarter, adjusted gross profit is guided at $2 million to $2.5 million, while operating expenses excluding stock-based compensation are seen at $2 million to $2.25 million, implying core operating income of $0 to $0.5 million.

The board approved a share repurchase program valid for up to 12 months, allowing open-market purchases, privately negotiated transactions, or block trades. The plan may be extended, suspended, or terminated at any time. CEO Hyunsu Jung said the growth in DeFi activity could enable the core business to break even on profit and cash flow in Q3, and noted that HYPD shares recently traded at a discount of roughly 20% to 30% to net asset value.

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Ivanhoe Mines Draws Unconventional Tech Interest in Congo Copper Project

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Ivanhoe Mines Ltd. is attracting unconventional interest in its expanding copper exploration project in the Democratic Republic of Congo, including attention from US technology companies, according to Bloomberg.

Robert Friedland, the mining entrepreneur behind Ivanhoe, characterized the level of interest as unusual and noted the involvement of US Big Tech.

The executive said the enthusiasm signals growing concerns about future copper supplies.

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Geopolitics Drive Oil Rally and Inflation Fears as Canada-U.S. Tariffs Take Effect

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U.S. stock futures fluctuated and global equities retreated as Brent crude neared $100 a barrel, stoking inflation concerns, according to Bloomberg.

Saudi Arabia halted some energy operations following attacks, while Canada’s retaliatory tariffs on U.S. goods of up to 50% took effect.

ASML secured commitments from Taiwan Semiconductor Manufacturing Co. and Samsung to deploy its latest chip-production equipment.

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ING: European Retail Investors Favor Domestic Assets

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ING Group Chief Economist Marieke Blom noted that European retail investors continue to favor domestic exposure even as the outlook for the euro area remains cautious.

A Jin10 survey of European consumers found that 38% prefer investing in Europe while 14% prefer the United States.

Blom argued that persistent pessimism about the European economy has not deterred savers from allocating more money to European assets, with potential benefits for regional stock valuations and private-company funding as a result.

The pan-European STOXX 600 has gained 9.6% so far this year, while the S&P 500 has increased by nearly 13%.

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HK Clearing Firms Sign MoU to Expand Cross-Border RMB and Bond Connect Cooperation

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Hong Kong Exchanges and Clearing subsidiary Hong Kong Securities Clearing Company and Cross-Border Interbank Payment Clearing Co. signed a memorandum of understanding to strengthen cooperation on market expansion and services for overseas members, according to ETNet.

The two parties plan to deepen collaboration on market development and network expansion, with aims to broaden member networks, improve liquidity and the appeal of RMB investment and financing products, and promote cross-border payments, cash management and securities settlement services. They also seek to enhance the compatibility, interoperability and efficiency of financial infrastructure.

Hong Kong Securities Clearing Company chief executive Chan Tat-keung said the firms have long supported connectivity between mainland China and Hong Kong and will work to meet the continued development needs of RMB internationalisation. He added that Hong Kong Securities Clearing Company will provide reliable financial infrastructure support for Hong Kong as an international financial centre and a leading offshore RMB hub.

From March 2025, the CMU membership will be expanded to eligible institutions regulated or supervised outside Hong Kong, to attract more international market participants to Hong Kong’s bond market and enable access to the mainland market through Bond Connect. The CMU and CIPS are key platforms within the Hong Kong–mainland financial connectivity framework, and the CMU is the first offshore financial infrastructure to participate directly in CIPS, providing delivery-versus-payment settlement for HKD and RMB transactions in Bond Connect.

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Standard Chartered Hong Kong Completes CIPS Upgrade to Connect with NetsUnion for Real-Time Cross-Border Clearing

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Standard Chartered Hong Kong has completed the required system construction and upgrades to connect with NetsUnion Clearing Corporation through the Cross-Border Interbank Payment System, according to ETNet.

The upgrade enables real-time execution of cross-border clearing instructions and processing of clearing transactions for partner institutions. The bank also participated in a launch ceremony in Xiamen for cross-border renminbi network payment and clearing services, alongside representatives from the Cross-Border Interbank Payment System, NetsUnion Clearing Corporation and Standard Chartered Hong Kong.

Zhang Ying, head of cash management for Greater China and North Asia at Standard Chartered, said the bank is the first foreign lender outside mainland China to establish clearing connectivity with NetsUnion Clearing Corporation via the CIPS platform, enabling real-time cross-border clearing for partner accounts including Ant International.

Standard Chartered notes that it is the first foreign bank with direct participation qualifications in CIPS in both mainland China and Hong Kong, and that by 2025 its indirect participation count in mainland China and Hong Kong leads foreign banks, with its processed business volume among the top direct participant banks in CIPS.

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Boss Zhipin-W Shareholding Changes Filed With HKEX Involve Morgan Stanley, JPMorgan, The Capital Group, Tencent and Zhao Peng

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Boss Zhipin-W (02076) disclosed a sequence of shareholding changes reported by ETNet, involving Morgan Stanley, JPMorgan, The Capital Group, Tencent Holdings and Zhao Peng.

Morgan Stanley increased its long position by 2.22 million shares on September 3, 2026, at an average off-market price of US$16.84.

JPMorgan added 2.21 million shares on August 19, 2026, at an average on-market price of HK$61.0437.

The Capital Group reported multiple changes, including a reduction of 6.01 million shares on March 19, 2026, and an increase of 3.59 million shares on February 12, 2026.

Tencent Holdings cut its long position by 19.48 million shares on January 7, 2026, at an average off-market price of HK$79.96.

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Kweichow Moutai raises retail prices at self-operated stores again, marking sixth hike this year

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Kweichow Moutai has raised the retail price of its Feitian 53% vol 500ml baijiu at self-operated stores to RMB 1,766 per bottle from RMB 1,753, marking the sixth price hike this year, according to ETNet.

The Feitian 53% vol 1L baijiu was priced at RMB 3,291, up from RMB 3,269. Other products affected by the round of increases include Five-Star 53% vol 500ml, the 53% vol 200ml, and the 53% vol 500ml x 2 baijiu for the Bingwu Year of the Horse edition. Prices for the 53% vol 50ml x 5 Golden Edition and the Feitian 43% vol 500ml baijiu were slightly lowered.

On the iMoutai app, retail prices for Feitian and the 1L version were unchanged at RMB 1,639 and RMB 3,269 respectively. After the adjustment, the Feitian retail price at self-operated stores was RMB 127 higher than on iMoutai.

A store worker said the move followed market conditions and that all self-operated outlets nationwide had implemented the new prices. Kweichow Moutai (Shanghai: 600519) fell 0.51% to RMB 1,309.3 on the day.

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UK Borrowing Costs Set to Hit Highest Since 1998 Ahead of Gilt Sale

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The UK is poised to finance a gilt sale at borrowing costs not seen in the gilt market since at least 1998, as a global bond rout pushes yields higher and tightens government finances.

The broader move away from government debt in major markets has pushed yields higher, lifting borrowing costs for sovereign issuers worldwide.

Bloomberg cited the global bond selloff as a key factor behind the tighter funding conditions facing UK gilts.

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Biocytogen-B and Asymchem Rally About 10% on Active Buying

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Biocytogen-B (02315) and Asymchem (06821) experienced unusual trading activity at 1:46 PM, with stock prices increasing 10.09% and 10.10%, respectively, according to ETNet.

Biocytogen-B last traded at HK$63.85, while Asymchem closed at HK$145.00 and marked a 52-week high.

Both stocks showed an active buy-sell ratio of 64:36.

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F2Pool Co-Founder Questions Zcash Rally, Founders’ Share and Security Issues

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F2Pool co-founder Wang Chun says Zcash's recent gains are driven by narrative speculation, and that a market value approaching Solana or other large tokens does not indicate equal status.

He notes that Zcash was not fairly launched, pointing to a 20% share of block rewards allocated to founders, employees, advisers, and early investors during the first four years, totaling about 2.1 million ZEC, or about 10% of the 21 million supply cap.

He added that the same 20% allocation later reappeared through a development fund structure.

Chun also observed that Zcash privacy is optional rather than default, and that most coins have remained in transparent addresses for much of its history.

He stated that Electric Coin Company and the Zcash Foundation have long had governance disputes, and that ECC staff resigned in January 2026, saying they had been pushed out.

On security, he cited a May 2026 disclosure of an Orchard pool vulnerability that had existed for about four years and could theoretically have allowed ZEC issuance without clear on-chain traces, though the pool's privacy made it impossible to prove it never happened.

He added that Ironwood shut down the old pool and forced a transition in July, calling it cleanup rather than a reason for Zcash to rank among the top 10.

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Dollar Gains vs HKD; USD/HKD 7.8402/10 and USD/CNY 6.7105/12

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The U.S. dollar rose to 7.8402/10 per Hong Kong dollar, according to ETNet.

The dollar-yuan rate was quoted at 6.7105/12.

The one-year offshore yuan non-deliverable forward was 6.5587/5657, implying a discount of 1,487 points to spot.

Hong Kong interbank offered rates were 2.8% overnight, 2.75% for one week, 2.78% for two weeks, 2.89% for one month, 2.99% for two months, 3.08% for three months, 3.24% for six months and 3.58% for one year.

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BNC4 Meme Token on BSC Surpasses $5 Million Market Cap

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BNC4, a meme token operating on the Binance Smart Chain, has reached a market capitalization above $5 million, roughly ten times the market cap of BNC stock, according to Odaily.

Odaily notes that BNC4 is an on-chain stock token introduced by the Four Meme platform and is pegged to the U.S. stock CEA Industries (BNC).

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Sinopec Hits One-Month High as New Focus Climbs 21.43%

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Two Hong Kong-listed stocks were flagged for unusual trading activity at 9:48 a.m., according to ETNet.

New Focus (00360) rose 21.43% to HK$0.051, extending a three-day rally for a cumulative gain of 88.89%.

Sinopec (00386) climbed 2.65% to HK$4.85, hitting a one-month high.

The active buy-sell ratios stood at 61:39 for New Focus and 81:19 for Sinopec.

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Southbound Leveraged SK Hynix ETF Gains 8.5% on Tightening Memory Supply

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The Southbound leveraged SK Hynix ETF (07709) jumped 8.5% to HK$44.56 after touching HK$44.60 intraday, its best level in more than a month. The fund has advanced for three consecutive sessions, up about 33.4% over that stretch, with turnover around HK$919 million, according to ETNet.

KB Securities noted inventories at Samsung Electronics and SK Hynix have fallen to under 10 days of supply, and it expects them to tighten further next year. The broker added that HBM4 requires roughly three times as many wafers as conventional DRAM, and continued expansion of HBM4 capacity could further constrain DRAM output. They forecast DRAM and NAND demand next year to exceed supply by more than 10%.

South Korean equities were firmer, with SK Hynix stock up about 3% to a one-month high and Samsung Electronics rising around 1.5%. The KOSPI index traded higher, up roughly 1.8% intraday.

In Hong Kong, the Southbound leveraged Samsung ETF (07747) rose about 5.3% to HK$82, the Southbound KOSPI ETF (03121) gained 2.3% to HK$7, and the A South Korea Covered Call ETF (03537) added around 1.7% to HK$10.04.

Meanwhile, the Hang Seng Index was down 0.7% at 25,244, with mainboard turnover above HK$24.8 billion.

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Uniswap Founder Says UNI Annual Burn Rate Tops $263 Million

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Uniswap founder Hayden Adams posted on X that UNI’s burn rate over the past seven days implies an annualized burn of just over $250 million, reaching about $263 million.

Odaily notes the figure is derived from the token’s burn speed during the most recent week.

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