Real-time News

On June 25th, the highest 7-day annualized yield of Tencent Wealth Management's "Current Account +" was 1.4590%, and the lowest was 0.6640%. The highest 7-day annualized yield of WeChat Pay's "Lingqian Tong" was 1.0270%, and the lowest was 1.0020%. The highest 7-day annualized yield of Alipay's "Yu'ebao" was 1.0990%, and the lowest was 1.0000%.

Market news: Kioxia is considering a stock split to make the stock more accessible to buyers.

On June 25th, Bank of Japan (BOJ) policy board member Naoki Tamura stated on Thursday that pushing the BOJ's policy rate towards a neutral level is crucial to avoid being forced to raise interest rates significantly later, and he suggested setting the neutral rate at around 2%. He prefers raising rates every few months to gradually approach the 2% neutral level. He also stated that if the likelihood of upside risks to prices increases, the BOJ should not hesitate to accelerate the pace of rate hikes or significantly raise interest rates. Tamura believes that the underlying inflation rate has reached 2%, and upside risks to prices remain regardless of developments in the Middle East. Furthermore, Japan's situation differs fundamentally from that of the Federal Reserve and the European Central Bank because the BOJ's policy rate remains below the neutral level, and inflation expectations are not yet fully anchored. Tamura stated that he opposes the BOJ pausing its bond-buying tapering from the next fiscal year, believing that the central bank should quickly normalize its bond holdings.

The Hang Seng Index fell 1%, and the Hang Seng Tech Index fell 1.2%.

Bank of Japan policy board member Naoki Tamura: I am concerned that companies will pass on costs faster and more significantly than in 2022.

Trip.com Inc. (09961.HK) shares fell more than 7% in Hong Kong, with the company’s first-quarter net profit attributable to shareholders decreasing by 41.57% year-on-year.

Market news: The Korea Exchange announced a postponement of the launch of weekly options products for single stocks.

On Thursday, June 25, the Hang Seng Index opened down 23.68 points, or 0.1%, at 23,388.5 points; the Hang Seng Tech Index opened up 18.25 points, or 0.41%, at 4,497.27 points; the H-share Index opened down 7.48 points, or 0.1%, at 7,757.49 points; and the Red Chip Index opened down 17.96 points, or 0.47%, at 3,840.2 points.

On June 25th, it was reported that on the afternoon of June 24th, Beijing Mayor Yin Yong met with PwC Global Chairman Martin Cornell. Yin Yong stated that he hopes PwC will continue to play its bridging role, leveraging its professional services to help global companies "bring in" Beijing businesses and Beijing companies "go global," actively sharing advanced experiences in global industrial development and urban governance to contribute to Beijing's high-quality development. Beijing will continue to expand its high-level opening-up, create a world-class business environment, and continuously improve its "service package" and "service steward" mechanisms to create a better environment for all types of enterprises to develop in Beijing.

Bank of Japan board member Naoki Tamura: Controlling inflation will help prevent future demand declines and economic recession.

June 25 – The Consulate General of the People's Republic of China in Sapporo issued a reminder to Chinese citizens in its consular district to be vigilant against aftershocks. According to the Japan Meteorological Agency, a magnitude 6.9 earthquake struck off the coast of Iwate Prefecture at approximately 7:30 a.m. Japan time on June 25. The Consulate General reminds Chinese citizens in its consular district, especially those in Aomori and Iwate prefectures, to be highly alert to aftershocks and secondary disasters, to closely monitor earthquake updates and disaster prevention information through television, the internet, and radio, and to follow local government instructions for prevention and evacuation. The Consulate General also advises Chinese citizens in its consular district to enhance their self-protection awareness, prepare for daily disasters, confirm nearby evacuation routes and locations in advance, and stockpile appropriate emergency supplies such as drinking water, emergency food, medicine, helmets, and whistles.

Hang Seng Index futures opened 0.01% higher at 23,392 points, a discount of 20 points.

Bank of Japan board member Naoki Tamura: Inflation expectations have roughly reached 2% and continue to rise further.

Bank of Japan board member Naoki Tamura: It is too early to start specific discussions now, but at some point in the future, the Bank of Japan should discuss appropriate reserve levels.

Bank of Japan board member Naoki Tamura: From a liability perspective, the Bank of Japan must examine the appropriate level of its balance sheet.

Bank of Japan board member Naoki Tamura: I voted against suspending the tapering of bond purchases from the next fiscal year, believing that the central bank should quickly normalize its bond holdings.

Bank of Japan policy board member Naoki Tamura: The recent rise in long-term interest rates is consistent with fundamentals and reflects market participants' views on the inflation, monetary, and fiscal outlook.