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Real-time News
On June 5th, UBS reported that the Hong Kong stock market has remained highly active this year, with significant structural changes. Hard technology and new-type productivity companies have become the absolute backbone of IPOs. Data shows that since the beginning of the year, technology and innovation companies have accounted for 63% of Hong Kong IPOs, a significant jump from 16% in the same period last year. Chen Ge, Co-Head of Global Investment Banking at UBS Securities, stated that Hong Kong stock market financing in the first five months of 2026 has reached approximately US$43 billion, a significant increase from US$28 billion in the same period last year. UBS research predicts that the total IPO financing in Hong Kong for the year is expected to reach US$45 billion to US$50 billion, and remains confident in the Hang Seng Index breaking through 30,000 points this year. Looking ahead to the second half of the year, the core driving force of Chinas capital market is likely to be dominated by substantial growth in corporate profits. UBS is optimistic about two types of assets: first, large-cap technology leaders benefiting from the global application of AI and possessing self-reliant and controllable technology; and second, small and medium-sized enterprises with structural overseas expansion capabilities.On June 5th, at the Tencent AI Industry Summit, in response to criticism that "Tencent is slow," Tencent Senior Executive Vice President Tang Daosheng acknowledged that different business lines in a complex organization move at different paces, with some moving quickly and others slowly, experiencing failures and explorations. He stated that he is open to external criticism and suggestions. Tang Daosheng said, "In this long-distance race, I believe that models will continue to iterate, user needs will continue to change, and new product forms will emerge. I think we reacted relatively quickly to the lobster craze at the beginning of this year."On June 5th, the Liaoning Provincial Development and Reform Commission publicly solicited opinions on the "Liaoning Provinces 15th Five-Year Plan for Regional Coordinated Development (Draft for Solicitation of Opinions)." The plan mentions supporting Dalians development into a modern marine city. It emphasizes strengthening Dalians regional aviation hub function, completing the Dalian Jinzhou Bay International Airport, consolidating its role as an international hub seaport, and accelerating the construction of modern port facilities. It also aims to enhance the Dalian Commodity Exchanges ability to serve the real economy and develop futures-spot combined business. Furthermore, it promotes the construction of spot trading markets for green marine fuels such as green hydrogen, green alcohol, and green ammonia.On June 5th, the Shenzhen Financial Regulatory Bureau, in conjunction with the Shenzhen Municipal Bureau of Industry and Information Technology and other departments, issued the "Notice on Several Measures to Promote the High-Quality Development of New Energy Vehicle Insurance in Shenzhen." The notice mentions optimizing the benchmark premium rate for new energy commercial vehicle insurance, supporting the insurance industry in utilizing experience data to scientifically determine the pure risk loss rate of different vehicle models, and using this as an important reference for vehicle risk classification and benchmark premium rate setting, thereby improving the accuracy and rationality of new energy vehicle insurance pricing. It also calls for improving the market-based terms and rates formation mechanism and steadily expanding the floating range of independent pricing coefficients. Furthermore, it encourages property insurance companies to incorporate new risk factors such as driving range, safety features, and power performance into their pricing models, explore the application of traffic violation coefficients in pricing, and promote a better match between new energy vehicle insurance prices and risks, thus enhancing the scientific nature of pricing.On June 5th, an explosion occurred near the Mina Al Fahal oil terminal in Oman. Details regarding the cause and scale remain limited, but it is believed to have been a drone strike. Oman has played a behind-the-scenes diplomatic role in US-Iran negotiations, and any instability on its territory could significantly impact peace efforts. Throughout the conflict, Oman has occupied a unique and valuable position, maintaining communication channels with both Washington and Tehran, and is one of the few credible, neutral, and clandestine diplomatic venues. Whether Fridays explosion was a deliberate attack, an accident, or something else remains to be determined. However, its location in the Gulf of Oman, its impact on oil transportation, and its proximity to one of the key diplomatic players in the conflict will make it closely watched by energy traders, military analysts, and diplomats. Crucially, Mina Al Fahal is located in the Gulf of Oman, entirely outside the Persian Gulf, meaning the conflict has now clearly crossed the strait itself, affecting export infrastructure in open waters.
