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Chinese telecommunications and financial stocks are under pressure, and the Hang Seng Index is struggling to stay above the 17,000 mark.
On Thursday, the offshore RMB/USD exchange rate rose to around 7.2000, the strongest in two and a half months. After the Hong Kong stock market fell by 630 points in three days, it rebounded by more than 200 points this morning before falling back, eventually rising 28 points or 0.17% to 17,033 points for the half-day; the national index fell 4 points or 0.1% to 6,012 points; the Hang Seng Tech Index rose 22 points or 0.7% to 3,443 points. The technology index remained stable in the afternoon, with the best performing stock being Haier Smart Home (06690), up 5.7%. The central government's policy of subsidizing old-for-new appliances continues to stimulate home appliance stocks, such as JD.com (09618).
HKEX News: JD.com-SW(09618) rose more than 4% in the morning session. JD.com is actively participating in the promotion of the subsidy implementation of the old-for-new policy for home appliances.
JD.com-SW (09618) rose more than 4% in early trading. As of press time, it has risen by 4.33% to HKD 103.6, with a turnover of HKD 0.155 billion.
JD Sports Fashion PLC Completion of the Acquisition of Hibbett, Inc.
Hibbett Announces Completion of Acquisition by JD Sports Fashion Plc
Zhitong Hong Kong Stock Early Access | In the first half of the year, the national total social electricity consumption was 4.66 trillion kilowatt-hours, a year-on-year increase of 8.1%. The three major U.S. stock indexes collectively plummeted.
In the first half of the year, the national total social electricity consumption reached 4.66 trillion kWh, a year-on-year increase of 8.1%.
[Brokerage Focus] Guosheng Securities maintains a 'shareholding' rating for JD.com (09618) and expects its revenue to continue to grow faster than the overall social retail market.
Jingu Finance | Guosheng Securities issued a research report stating that on July 15th, the National Bureau of Statistics released the latest data: in the first half of 2024, China's total social zero sales reach 2,359.69 billion yuan, a year-on-year increase of 3.7%. The online retail sales of physical commodities increased by 8.8% year-on-year, accounting for 25.3% of social zero. Among them, sales of basic necessities and upgraded commodities are showing good momentum, with high-energy efficiency and smart home appliances achieving fast growth in sales. Considering the sustained increase in online shopping penetration rate and the overall good growth trend of social zero, the bank expects jd.com (09618) revenue to continue to grow faster than the social zero growth rate. Secondly,
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