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Real-time News
China Biopharmaceutical (01177.HK) rose more than 6% on the news that the company has reached an exclusive licensing agreement with AstraZeneca for TQC3721.Rivian (RIVN.O) announced the pricing of its underwritten public offering of common stock, issuing 75 million shares at a price of $15.50 per share, raising a total of $1.2 billion.On Wednesday, July 8, the Hong Kong Hang Seng Index opened 44.33 points higher, or 0.19%, at 23,541.22; the Hang Seng Tech Index opened 18.73 points higher, or 0.42%, at 4,525.77; the H-share Index opened 33.19 points higher, or 0.43%, at 7,803.45; and the Red Chip Index opened 1.17 points higher, or 0.03%, at 3,806.3.The Peoples Bank of China (PBOC) announced today that it conducted 15 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 15 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.July 8th - Bank of Japan (BOJ) loan growth in June hit its fastest pace since the COVID-19 pandemic, indicating that credit channels remain open and the BOJ still has room to raise interest rates further. According to a report released by the BOJ on Wednesday, seasonally adjusted bank loans excluding trusts rose 6.3% year-on-year in June, the strongest growth since August 2020. The BOJ stated that the growth was mainly driven by loans related to mergers and acquisitions, real estate, and economic recovery. These figures reinforce the BOJs assessment that financial conditions remain accommodative even after Governor Kazuo Ueda raised the benchmark interest rate to its highest level since 1995 last month. While the latest loan data may not yet reflect the impact of the June rate hike, policymakers have repeatedly cited financial conditions as a key indicator for assessing whether further rate hikes are warranted. Strong loan demand suggests that higher borrowing costs have not dampened business investment or household activity, strengthening the argument that the economy can withstand further policy normalization. This is consistent with the BOJs latest Tankan survey, in which the corporate financial conditions index improved for the first time in a year. Large companies reported an improved environment for commercial paper issuance.
