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Real-time News
July 17th - Chongqing Zhongyu Land announced its plan to acquire a 25% stake in a target joint venture for HK$251 million. According to the sale and purchase agreement, Crystal Concept will acquire 50 issued shares of the target joint venture, representing 25% of all issued shares.Next week will see a flurry of earnings reports from tech stocks, including Google (GOOGL.O), Tesla (TSLA.O), Intel (INTC.O), AT&T (TN), and IBM (IBM.N). On the economic data front, Chinas one-year loan prime rate as of July 20, the preliminary July S&P Global Manufacturing PMI for the US, and the June Conference Board Leading Economic Index for the US will also be released next week. For a complete earnings calendar, please check the calendar section of the US-Hong Kong Telecom APP. Click to view...On July 17, the European Commission proposed reducing the linear reduction factor of the Emissions Trading System (ETS) to 3.1% from 2031 to 2035, and further to 1.7% after 2036, down from the current 4.3%. It also proposed lowering the inclusion rate of the ETS market stability reserve to 12% after 2030, down from the current 24%. Furthermore, it proposed using international carbon offset credits to cover 2% of emissions reductions in the ETS sector, and adding 250 million tons of domestic carbon removals to the ETS. The Commission further proposed issuing 80% of free carbon emission permits to various industries in advance, with the remaining 20% to be issued after they complete their committed decarbonization investments.On July 17, President Xi Jinping met with Thai Prime Minister Anutin Charnvirakul at the Shanghai Xijiao Hotel. Anutin was in China to attend the 2026 World Artificial Intelligence Conference and the High-Level Meeting on Global Governance of Artificial Intelligence, and to pay an official visit. Xi Jinping emphasized that, facing a complex and profoundly changing international situation, China and Thailand should maintain close high-level exchanges, make good use of the "2+2" strategic dialogue mechanism between the two countries foreign and defense ministers, and promote strategic cooperation to a higher level. He stressed the need to accelerate the construction of the China-Thailand railway and the interconnection of the China-Laos-Thailand railway, and expand cooperation in emerging fields such as artificial intelligence, aerospace, and clean energy. He also emphasized strengthening cooperation in tourism, media, and education to foster closer ties between the people of the two countries. Finally, he stressed the importance of continuing to vigorously combat cross-border crimes such as online gambling and telecom fraud to create a safe environment for practical cooperation and people-to-people exchanges between the two countries.Bernstein: Lowered its price target for Netflix (NFLX.O) from $100 to $95.
