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Real-time News
On August 4th, HSBC Global Research reported that Xinyi Solar (00968.HK) recorded a profit of RMB 746 million in the first half of this year (a 59% year-on-year decrease), in line with the banks forecasts and previous profit warning, due to lower average selling prices and asset impairments. On the positive side, voluntary production cuts in the industry have continued, with effective supply down 11% since May and inventory levels declining. The bank believes that given Xinyi Solars cost advantage, it should continue to benefit from faster market consolidation. Xinyi Solars valuation is attractive, with a 2026 forecast price-to-earnings ratio of 8.8x. The bank maintains its "buy" rating on the stock, raising its target price from HK$4.2 to HK$4.4.A Ukrainian drone attack damaged power lines and a fire broke out at a railway station building in Russias Volgograd region, the regional government said.Japanese Prime Minister Shigeru Ishiba: It is necessary to consider the impact that sales tax cuts may have on returns and confidence.Japanese Prime Minister Shigeru Ishiba: No need to seek parliamentary approval before starting trade negotiations.South Korean President Lee Jae-myungs approval rating rose on August 4 after a last-minute trade deal was reached with the United States. A Realmeter survey released Monday showed Lees approval rating climbing to 63.3%, up from 61.5% last week. The survey, commissioned by a local newspaper, was conducted from July 28 to August 1. The trade agreement, announced on July 31, sets tariffs on most South Korean goods imported into the US at 15%, matching regional rival Japan and one of the lowest rates in Asia. However, Lee faces risks as details of the agreement, including a $350 billion investment by a South Korean fund in the US, are still being finalized.
