Overview

• Hong Kong’s Hang Seng Index rose 0.7% to 25,275 at mid-morning Friday, putting the gauge on track for a third straight weekly gain.
• Market pricing points to a quarter-point US rate cut next month, with investors awaiting Jerome Powell’s keynote for guidance.
• JPMorgan said momentum in onshore Chinese equities could persist and estimated asset rotation may inject up to 14 trillion yuan into the market.
• Li Ning jumped after a stronger‑than‑expected first‑half profit, while SMIC advanced following reports that Nvidia sought to halt production of China‑focused H20 AI chips.
• Two spot crypto ETFs launched in Hong Kong, with MicroBit’s bitcoin fund slipping 0.3% and its ether product rising 1.9% on debut.