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On August 23, Zhaojin Mining announced that its revenue for the first half of 2026 was RMB 9.022 billion, an increase of approximately 29.38% year-on-year; profit attributable to shareholders of the parent company was RMB 1.578 billion, an increase of approximately 9.61% year-on-year; net profit was RMB 2.105 billion, an increase of approximately 18.50% year-on-year; basic and diluted earnings per share were RMB 0.42, an increase of approximately 10.75% year-on-year. The board of directors does not recommend the payment of an interim dividend.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.3 occurred at 18:04 on August 23 near Tashkurgan County, Kashgar Prefecture, Xinjiang (36.96 degrees north latitude, 74.89 degrees east longitude). The final result is subject to the official rapid report.According to the Financial Times, Italian oil company Eni is betting that nuclear fusion will become its "next refinery".On August 23, two slope collapses occurred in Fengshan Town, Fengqing County, Lincang City, Yunnan Province, leaving four people missing. The Ministry of Natural Resources activated a Level IV emergency response for geological disaster prevention in Yunnan at 2 PM on the 23rd and dispatched a working group to the site to guide rescue and relief efforts.On August 23, Galaxy Securities stated that in the short term, the index will continue to fluctuate due to overseas volatility and stock structure disturbances, and the game and rebalancing between sectors will continue. However, external shocks are more of a phased disturbance, and the domestic policy signals and the logic of the main industry line have not been shaken. Looking ahead to the second half of the third quarter, the market will mainly be structural rotation and repair. It is recommended to focus on the policy line and the direction of economic verification to seize structural opportunities. Next week, pay attention to the following events: (1) Overseas macro pricing, the second valuation of the US second quarter GDP, the core PCE in July and the speech of the chairman of the Jackson Hole Annual Meeting will be released one after another; (2) Technology company performance verification, Nvidias financial report is an important indicator for observing the continued expectation of global AI capital expenditure; (3) The disclosure of A-share interim reports is about to end, which may become an important window for the concentrated release of individual stock alpha. The industrial enterprise profit data to be released next week will provide a total scale for profit recovery; (4) At the industry level, pay attention to the 2026 Wenchang International Aviation and Aerospace Forum, etc.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Jumps on China PMI

Steven Zhao

Mar 01, 2023 15:37


Market Overview

It was a bullish Wednesday morning session for the Asian markets, with the Hang Seng Index leading the way. The Asian markets brushed aside bearish sessions for the Dow and the NASDAQ Composite Index. US economic indicators disappointed on Tuesday, with consumer confidence weakening for a second consecutive month and house price growth slowing.


The CB Consumer Confidence Index fell from 106.0 to 102.9 in February, with the S&P/CS HPI Composite n.s.a rising by 4.6% year-over-year in December. House prices were up 6.8% in November. Elevated US mortgage rates continue to impact buyer demand, with US mortgage rates bouncing back after a brief retreat.


On Tuesday, the NASDAQ Composite Index fell by 0.10%, with the Dow Jones and S&P 500 seeing losses of 0.71% and 0.30%, respectively. This morning, the US Futures reversed early losses. The Dow mini was up 16 points, with the NASDAQ mini flat.


Private sector PMI numbers from China delivered support to riskier assets this morning. After a China data void, today’s stats provided investors with much-needed relief. The all-important Caixin Manufacturing PMI increased from 49.2 to 51.6 in February. Economists forecast a PMI of 50.2. Significantly, the manufacturing sector expanded for the first time since July 2022.