(1) Stock Market News

‧ U.S. Market

The three major U.S. stock indices developed differently. The Dow Jones Industrial Average broke through the 41,000-point mark for the first time, 

reaching a high of 41,221 points, and closed at 41,198 points, up 243 points, an increase of about 0.6%, marking six consecutive trading days of gains. 

The Nasdaq Composite closed at 17,996 points, down 512 points, a decrease of about 2.8%. The S&P 500 index closed at 5,588 points, down 78 points, a decrease of about 1.4%.

‧ Hong Kong Market

The Hang Seng Index closed at 17,739 points, up 11 points. The total daily transaction volume increased to over 104.9 billion yuan. The Technology Index rose by 18 points, closing at 3,640 points.

‧ Mainland China Market

The Shanghai Composite Index closed at 2,962 points, down 13 points or 0.45%, with a transaction volume of 305.469 billion yuan. 

The Shenzhen Component Index closed at 8,835 points, down 41 points or 0.47%, with a transaction volume of 369.613 billion yuan. The CSI 300 Index reported at 3,501 points, up 3 points or 0.09%; the ChiNext Index reported at 1,696 points, up less than 1 point or 0.01%.

(2) Economic News

‧ The Secretary for Commerce and Economic Development, Mr. Hillman Chau, responded in writing to a legislative inquiry, stating that as the aging population in Hong Kong continues to grow, 

the Commerce and Economic Development Bureau established the Silver Economy Advisory Group in February this year to seize the development potential of the "Silver Economy". The group will conduct in-depth research on the market demand and development of related industries and business activities of the "Silver Economy" and will propose development suggestions within a year.

‧ The Mandatory Provident Fund (MPF) Research Institute MPF Ratings estimated that the net inflow of funds into the MPF in the second quarter of this year unexpectedly fell, 

with a net inflow of about 11.77 billion yuan, a decrease of about 10% compared to the average quarterly net inflow of 13.11 billion yuan over the past five years, and about 13% less than the average net inflow of 13.54 billion yuan in the second quarter of the past five years. It is estimated that the net inflow of funds in the first half of this year is about 25.65 billion yuan, a decrease of about 7% compared to the average net inflow in the first half of the past five years.

‧ Standard Chartered Group (02888) is concerned that the positive benefits of net export growth in the second half of the year in Mainland China will decrease, and maintains its forecast for a full-year Gross Domestic Product (GDP) growth of 4.8%.

(3) Company News

‧ HSBC Holdings (00005) has appointed Noel Quinn to succeed John Flint as Chief Executive Officer, effective from September 2nd.

‧ JD.com (09618) will start a monthly "JD Super 18" promotional event from this month. According to internal media reports, the first event will start at 8 pm today (17th) and end at midnight tomorrow (18th).

 During the event, a variety of products valued at over 1,000 yuan will be priced at 18 yuan. The promotional event will be held every month, and discounted products will be launched in batches at irregular times and locations.

‧ Hesai Technology stated that the main laser radar on the sixth-generation Baidu Apollo unmanned vehicle, Yichi 06, is exclusively supplied by Hesai. 

Each vehicle is equipped with four ultra-high-definition long-range laser radars AT128, with a detection range exceeding 200 meters. This is the first time that the ADAS semi-solid-state laser radar solution has been deployed on a large scale in the "Radish Run".