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Real-time News
According to the Russian news agency, citing the Ministry of Defense, the Russian military shot down 354 drones overnight.On June 3rd, Citigroup issued a report stating that Tencent (00700.HK) has reportedly begun testing its AI agent prototype on the WeChat application. Given Tongcheng Travels (00780.HK) "all-around WeChat" strategy, the sophisticated and comprehensive features of its mini-programs, its relationship with Tencent, and its status as the only online travel agency (OTA) service provider within WeChat Wallet, Citigroup believes that if Tencent launches an AI agent on WeChat, Tongcheng Travel will be one of the beneficiaries of the WeChat ecosystem. Tongcheng Travels share price has been under pressure due to the valuation downgrade of vertical industry leader Ctrip Group (09961.HK) and the impact of rising oil prices on domestic tourism demand, but its current valuation corresponds to a forward P/E ratio of less than 8 times for 2026, which Citigroup considers not expensive. Citigroup maintains its "Buy" rating on Tongcheng Travel with a target price of HK$25.Futures News, June 3rd - Data released by the Petroleum Institute of Japan (PAJ) on Wednesday showed that for the week ending May 30th, Japans commercial crude oil inventories stood at 10.0167 million kiloliters, an increase of 537,049 kiloliters from the previous weeks 9.4797 million kiloliters. Refinery operational capacity (BPSD) utilization was 79.1%, compared to 82.1% the previous week. Refinery design capacity (BPCD) utilization was 63.1%, compared to 73.5% the previous week. Due to changes in Japans petroleum product supply structure, the PAJ has suspended the release of weekly inventory details for gasoline, jet fuel, kerosene, and diesel.June 3rd - According to the Financial Times, European Central Bank (ECB) Governing Council member Winsch stated that a peace agreement between the US and Iran reached before next weeks ECB meeting would not weaken the case for an interest rate hike. Winsch said, "If a peace agreement is indeed reached before the meeting, it will be part of the discussion. But we cannot know whether it will be lasting or credible." He hinted at support for a 25 basis point rate hike by the ECB. He believes that if the conflict remains unresolved, discussions among policymakers before setting interest rates on June 11th will be "quite easy." If a peace agreement is reached between the US and Iran, the discussions "may be slightly less easy. But the case for a rate hike may still exist, just not as strongly." He stated, "At some point, we cannot let the markets bear everything. We need to make a position clear."Market news: Humanoid robot company Pacini is reportedly considering a Hong Kong IPO.
