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According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) repurchased 342,400 shares on August 27, at a cost of HK$55.4 million.

According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) repurchased a total of 3 million shares on other exchanges on August 27, at a cost of £45.3 million.

Morgan Stanley raised its price target for Marwell Technology (MRVL.O) from $224 to $246.

On August 28th, Meituan (03690.HK) announced that its core local commerce segment's operating profit increased from RMB 3.7 billion in the second quarter of 2025 to RMB 5.7 billion in the same period of 2026, with the segment's operating profit margin increasing by 2.2 percentage points year-on-year to 7.9%. The increase in operating profit and operating profit margin was primarily due to the company's focus on high-quality growth through dynamic optimization of its marketing strategies. The operating loss of the new business segment narrowed from RMB 1.9 billion in the second quarter of 2025 to RMB 1.7 billion in the same period of 2026, with the segment's operating loss margin improving by 1.8 percentage points year-on-year to 5.3%. The improvement in both operating loss and operating loss margin was mainly due to improved operational efficiency in the grocery retail business and overseas business.

August 28th – It was learned today from the National Data Administration that over 20 computing power scheduling entities have officially joined the National Integrated Computing Power Network Monitoring and Scheduling Experimental Verification Platform, comprehensively enhancing computing power scheduling and operation service capabilities. According to reports, the National Integrated Computing Power Network, as one of the "six networks," is a major project proposed in the "15th Five-Year Plan." The monitoring and scheduling platform is an important component of this project, and currently, 1.45 million PFLOPS (FP16) of intelligent computing power are included in the monitoring scope. Next, the National Development and Reform Commission and the National Data Administration will further promote the construction of the "Eastern Data, Western Computing" project, accelerating the construction of the National Integrated Computing Power Network based on eight national computing power hubs and three computing and power collaborative development regions.

On August 28, the Ministry of Finance issued an announcement clarifying matters related to value-added tax (VAT), including non-taxable transactions. Taxpayers in the following circumstances are considered to be engaging in non-taxable transactions as defined in Article 22 of the Implementing Regulations of the Value-Added Tax Law, and the corresponding input VAT cannot be deducted from output VAT: (i) Sales of goods, services, intangible assets, or real estate that do not fall under the categories of taxable transactions occurring within the territory as listed in Article 4 of the Value-Added Tax Law; (ii) Considered transfer of equity (excluding securities); (iii) Dividends and bonuses obtained from holding equity (excluding securities) and dividends and bonuses obtained from holding common stock of a joint-stock company (including securities); (iv) Commodity futures trading (excluding physical delivery).

The onshore yuan closed at 6.7204 against the US dollar at 16:30 on August 28, down 5 points from the previous trading day.

Market news: Bank of Japan Governor Kazuo Ueda will travel to the United States and Switzerland starting August 30.

On August 28th, it was reported that Sharpa, an AI robot company specializing in dexterous manipulation, has completed a financing round exceeding 4.5 billion RMB. Investors include industry capital such as Alibaba, Meituan, Tencent, JD.com, and Transsion, as well as investment institutions such as Sequoia China, Qiming Venture Partners, Meituan Dragonball, and Guanghe Venture Capital. Sharpa stated that the funds will be used to accelerate core technology research and development, continuously attract and cultivate talent, and promote general-purpose robots from technology verification to the real world.

On August 28th, OpenAI announced the hiring of a senior executive from Meta Platforms (META.O) to lead its Southeast Asia and Australian operations, aiming to capitalize on growth opportunities in these markets with over 600 million people. Sandia Dwanatan will assume this new role, becoming OpenAI's highest-ranking executive in the region. She will be responsible for consumer user growth, enterprise adoption and partnerships, operations, and communications with regulators, and will assume her new post in October. Dwanatan posted on LinkedIn on Friday that she would be leaving Meta, but did not disclose further details. An OpenAI spokesperson confirmed her appointment. Dwanatan will be based in Singapore, reporting to Kiran Mani, Managing Director for Asia Pacific.

The Hang Seng Index closed up 19.05 points, or 0.07%, at 25,584.79 on Friday, August 28; the Hang Seng Tech Index closed down 15.14 points, or 0.33%, at 4,605.15; the H-share Index closed up 0.08 points, or 0.0%, at 8,490.39; and the Red Chip Index closed up 28.74 points, or 0.68%, at 4,259.18.

Autodesk shares fell 3.9% in pre-market trading after its adjusted third-quarter profit forecast missed expectations.

On August 28, Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter asked about the situation regarding foreign-related matters in the disaster relief efforts following the mudslide in Gyirong, Tibet, particularly the situation of foreign citizens affected in China. Lin Jian stated that the relevant information is currently being verified. We have informed the embassies of the relevant countries in China and will maintain communication.

Bank of Japan Governor Kazuo Ueda will attend the G20 finance ministers' meeting in Asheville, North Carolina.

Paypal (PYPL.O) shares fell 14.8% in pre-market trading after reports that the Advent and Stripe consortium would abandon its acquisition of the company.

The Ukrainian military has reportedly attacked a Russian oil refinery in the Yaroslavl region.