The Securities and Futures Commission (SFC) today (5th) issued a revised circular to broaden the range of listed structured funds to include Single Stock Leveraged and Inverse (L&I) Products referencing highly liquid Hong Kong-listed mega-cap stocks.

In light of strong market reception for Single Stock L&I Products over the past year, the SFC considers the time is ripe to extend the regulatory framework from products referencing overseas-listed stocks to those based on popular Hong Kong-listed stocks. This will not only expand retail investors’ tools to customise investment exposure, but will also address issuers’ growing interests to launch products with Hong Kong equities as underlying.

The new move will further support trading activities in the city’s securities market. Since the debut of Single Stock L&I Products referencing overseas-listed stocks in March 2025, their assets under management (AUM) and average daily turnover (ADT) have surged more than 302 times to HK$106 billion and 136 times to HK$9.3 billion, respectively. They accounted for a significant proportion of Hong Kong’s L&I Products market at 80% of total AUM and 78% of ADT as of May 2026.

To support orderly market development over the long term, the SFC has also strengthened investor safeguards in the revised circular. For all L&I Products, product providers are now explicitly required to continuously monitor their products’ capacities to support the targeted leveraged or inverse exposure, maintain a reasonable buffer, and promptly notify the SFC of any potential issues disrupting product operations. For Single Stock L&I Products, the SFC has also introduced enhanced eligibility criteria for product providers, together with requirements to establish robust business continuity plans to mitigate heightened operational risks for such products. These plans should set out clear contingency and defensive measures with defined triggers for activation.
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JD-SW (09618.HK) announced that its JD MALL Wan Chai store will officially open on June 18. With the launch of its first store in Hong Kong, JD MALL will continue to deepen its presence in the local market with plans to open 6-8 stores in Hong Kong within three years, prioritizing prime districts such as Sha Tin, Mong Kok and Tuen Mun.

The JD MALL Wan Chai store spans 30,000 square feet and adopts a "local sourcing, local sales" model. In addition to core categories such as large and small home appliances and mobile digital products, it has introduced trendy categories including smart bathroom products, massage equipment and whole-home cleaning appliances.

JD LOGISTICS (02618.HK) has established service advantages in Hong Kong, including "fastest four-hour delivery in Hong Kong", "pickup and delivery services until 10 p.m.", and "next-day delivery to Hong Kong and Macau", while also enabling cross-border shipping among Mainland China, Hong Kong and Macau.
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Phase 4 of One Victoria Cove in Hung Hom, jointly developed by HENDERSON LAND (00012.HK), HYSAN DEV (00014.HK) and Empire Group, has officially uploaded its sales brochure, involving 264 units and offering two- to three-bedroom layouts.

Mark Hahn, General Manager of Sales (2) Department at Henderson Property Agency, said One Victoria Cove has been well received by the market since launch. Phases 1 and 3 have cumulatively sold 574 units, accounting for about 96% of the units available for sale, cashing in approximately HKD4.9 billion. In response to market demand, the developer has launched Phase 4 (Tower 5).

Standard units in Phase 4 of One Victoria Cove have saleable areas ranging from 338 to 585 square feet. Among them, 234 units are two-bedroom units, accounting for 89%, with saleable areas ranging from 338 to 469 square feet, while 22 units are three-bedroom units with a saleable area of 585 square feet.
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TENCENT (00700.HK) announced that it repurchased 1.092 million shares of the company today (5th) at prices ranging from HKD452.4 to HKD465.8 per share, involving approximately HKD500 million.

Since the repurchase mandate resolution was approved, the Group has cumulatively repurchased 14.0271 million shares, representing 0.15384% of its issued shares.
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The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) today (5th) issued joint consultation conclusions on standardizing the calculation periods for each year under the Clearing Rules for the over-the-counter (OTC) derivatives regulatory regime.

Respondents to the consultation expressed broad support for the proposed approach to accommodate future Calculation Periods and the corresponding Prescribed Days under the Clearing Rules. There was general consensus that the proposal increases certainty on the clearing obligation, thus enabling more effective internal planning for market participants.

In a move to further increase the efficiency of the operation of the Clearing Rules, the SFC and the HKMA consulted the public in early 2026 on proposals to designate, once and for all, standard calculation periods for each year with effect from 1 March 2027. This would improve on the current approach where the existing list of calculation periods specified in the Clearing Rules needs to be updated by legislative amendments regularly to facilitate the central clearing of OTC derivative transactions.

In view of broad market support, the SFC and the HKMA will proceed with the legislative process to introduce the proposed amendments to the Clearing Rules, and aim to bring the amendments into effect on 1 March 2027, i.e., the starting date of the proposed new series of Calculation Periods.
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STELUX HOLDINGS (00084.HK) issued a profit warning, expecting to record a consolidated net loss attributable to equity holders of the Company for the year ended 31 March 2026 (FY2026) of no more than HK$70 million, compared to a consolidated net loss of HK$107 million for the year ended 31 March 2025 (FY2025).

The Group’s consolidated net loss for FY2026 is expected to be lower than that of FY2025, primarily due to the closure of non-performing stores, reduced interest expenses from a lower bank loan balance, and an enhanced product portfolio that delivered improved margins and stronger same-store sales growth. Notably, the company's retail operations in Southeast Asia achieved a same-store sales growth of 15% year-on-year in FY2026.
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The HSI remained under pressure throughout the session, slipping below the 25,000 level to close at 24,961, down 291 pts or 1.15%. Total market turnover for the day amounted to HKD342.805 billion. The HSCEI closed at 8,436, down 65 pts or 0.77%, while the HSTECH closed at 4,888, down 86 pts or 1.75%.

Semiconductor and AI-related stocks mirrored the downtrend of the external markets. SMIC (00981.HK) was the worst-performing blue chip, closing at HKD75.65, down 7.18%. HUA HONG SEMI (01347.HK) plunged 7.16%, MONTAGE TECH (06809.HK) nosedived 9.21%, and GIGADEVICE (03986.HK) slid 8.02%. MINIMAX-W (00100.HK) closed at HKD553, plunging 16.65%. KNOWLEDGE ATLAS (02513.HK) tumbled 9.05%, while XUNCE (03317.HK) fell off 11.8%.

Dotcom bellwethers retreated with the broader market. BIDU-SW (09888.HK) stumbled 3.46%, NTES-S (09999.HK) fell off 2.33%, while TENCENT (00700.HK) and XIAOMI-W (01810.HK) dropped over 1%. BABA-W (09988.HK) and KUAISHOU-W (01024.HK) edged down less than 1%. MEITUAN-W (03690.HK) bucked the trend, up 1.72%.
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PAVILIA ROSA in Kowloon Tong, developed by NEW WORLD DEV (00017.HK), released its price list today (5th), involving 44 units. After deducting a maximum 5% price discount and a 6% early completion cash rebate, the discounted price per square foot starts from HKD30,800.

Price List No. 1 has a total value of about HKD784 million, comprising six one-bedroom units and 38 two-bedroom units, with saleable areas ranging from 298 to 586 square feet. List prices range from HKD11.042 million to HKD22.961 million, or HKD34,490 to HKD42,000 per square foot. Discounted prices range from about HKD9.8597 million to HKD20.5033 million, or HKD30,800 to HKD37,505 per square foot. The average discounted price per square foot is HKD33,816.
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On debut today, DAJIN(01081.HK) opened at $66.4. Peaking/ bottoming at $66.45/59.05, the stock closed at $66.4, on volume of 17.94 million shares and turnover of $1.16 billion.
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At close, HSI dropped 291 pts or 1.2% to 24,961. HSTI dropped 86 pts or 1.7% to 4,888. HSCEI fell 65 pts or 0.8% to 8,436. Market turnover reached $342.81 billion.

Active Heavyweights:
XIAOMI (01810.HK) closed at $27.8, down 2%
MEITUAN (03690.HK) closed at $79.95, up 1.7%
TENCENT (00700.HK) closed at $453.2, down 1.3%
BABA (09988.HK) closed at $122.4, down 0.9%

HSI & HSCEI Constituents on Move:
SMIC (00981.HK) closed at $75.65, down 7.2%
MENGNIU DAIRY (02319.HK) closed at $15.89, down 6.3%
TINGYI (00322.HK) closed at $12.16, down 6.1%
OOIL (00316.HK) closed at $143.2, up 6%
BYD ELECTRONIC (00285.HK) closed at $28.58, down 3.6%
AIA (01299.HK) closed at $74, down 3.5%
SANDS CHINA LTD (01928.HK) closed at $15.21, down 3.5%
BIDU-SW (09888.HK) closed at $125.6, down 3.5%
HSBC HOLDINGS (00005.HK) closed at $141.8, down 3.1%
HORIZONROBOT-W (09660.HK) closed at $5.01, down 3.1%
XINYI SOLAR (00968.HK) closed at $2.53, down 3.1%

HSMI & HSSI Constituents on Move:
QUANTGROUP (02685.HK) closed at $15.8, down 33.2%
SUNART RETAIL (06808.HK) closed at $1.35, up 15.4%
MININGLAMP-W (02718.HK) closed at $227, down 15%
XUNCE (03317.HK) closed at $166, down 11.8%
MINIEYE (02431.HK) closed at $10.63, up 11%
RADIANCE HLDGS (09993.HK) closed at $1.26, down 10.6%
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French prosecutors filed preliminary charges against the Swiss private banking arm of HSBC HOLDINGS (00005.HK), alleging that the bank assisted former Lebanese central bank governor Riad Salameh in misappropriating funds.

In France, the filing of preliminary charges means prosecutors believe there is sufficient evidence to refer the case to an investigating judge for a more in-depth probe. The judge will then decide whether to formally pursue the case.

HSBC stated that it is unable to comment on legal matters. The investigation is ongoing and the bank will continue to cooperate with the authorities.

HSBC disclosed last year that it was under investigation by Swiss and French law enforcement authorities over suspected money laundering activities, warning that the matter could have a material impact on the group, although it was unable to predict the specific consequences at that time.

Shortly thereafter, its Swiss private banking unit terminated relationships with more than 1,000 wealthy Middle Eastern clients from countries including Saudi Arabia and Lebanon.
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Jiangsu BBL Home Technology recently (May 29) formally submitted a listing application to HKEX (00388.HK), seeking to become the first Hong Kong-listed company positioned as a global decorative materials aesthetics solutions provider.

As a leading flooring products provider in China with strong global recognition, the company aims to leverage the advantages of international capital markets through its Hong Kong listing to strengthen its global supply chain layout, accelerate overseas market expansion, further consolidate its global leadership in the flooring products sector, and support the globalization and upgrading of China’s home manufacturing industry.

Revenue increased from RMB2.298 billion in 2023 to RMB2.356 billion in 2024, and further to RMB2.531 billion in 2025, representing a CAGR of 4.9%, data showed.
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Zeekr, a brand under Geely Automobile Group, launched its 7X mid-size electric SUV in South Korea. This marks the company’s first model introduced in the South Korean market.

The 7X is a five-seater BEV SUV available in three variants: PRO, MAX and ULTRA. The PRO and MAX versions offer a single-charge driving range of 375 kilometers and 483 kilometers, respectively.

Zeekr plans to increase the number of its stores in South Korea to 14 within the year and establish 11 service centers nationwide.
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ONE BEDFORD PLACE in Tai Kok Tsui, owned by Lofter Group, was taken over by BANK OF E ASIA (00023.HK) earlier this year, sources divulged.

The receiver secured a new buyer for the entire building, which is set to be transferred for approximately HKD730 million. The prospective buyer is a Singapore consortium, which intends to convert the property into a student hostel.

The project, completed in 2024, is a 29-storey Grade A commercial building with a site area of approximately 10,043 sq ft and a total gross floor area of approximately 184,000 sq ft. Based on a consideration of HKD730 million, the price per sq ft is about HKD3,967.4.
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After opening 67 points lower, the HSI tested the 25,000 level and closed at 25,047 at midday, down 205 points or 0.81%. Half-day turnover amounted to HKD149.764 billion. The HSCEI closed at 8,466 at midday, down 35 points or 0.42%. The HSTECH closed at 4,913 at midday, down 61 points or 1.24%.

Mainland China has tightened regulation on outbound investment, but Goldman Sachs opined the actual operational impact on Hong Kong banks and insurers will be limited. AIA (01299.HK) once sagged more than 4% before narrowing losses, closing at HKD74.5 at midday, down 2.87%. HSBC HOLDINGS (00005.HK) plunged 3.14%, while PRU (02378.HK) slid 4.81%.

Among blue chips, TENCENT (00700.HK) closed at HKD458.8 at midday, down 0.04%. LENOVO GROUP (00992.HK) slumped 5.52%, the worst-performing blue chip in the half day. MENGNIU DAIRY (02319.HK), TINGYI (00322.HK) and SANDS CHINA LTD (01928.HK) tumbled more than 4%. SMIC (00981.HK) shrank nearly 4%. OOIL (00316.HK) bucked the trend, soaring 5.55%.

Recently hot AI-related stocks retreated. MINIMAX-W (00100.HK) closed at HKD575 at midday, down 13.34%. XUNCE (03317.HK) skydived 5.37%, and KNOWLEDGE ATLAS (02513.HK) stumbled 8.84%.
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At midday close, HSI dropped 205 pts or 0.8% to 25,047. HSTI dropped 61 pts or 1.2% to 4,913. HSCEI fell 35 pts or 0.4% to 8,466.

Active Heavyweights:
XIAOMI (01810.HK) closed at $28.16, down 0.8%
BABA (09988.HK) closed at $123.4, down 0.1%
TENCENT (00700.HK) closed at $458.8, down 0%

HSI & HSCEI Constituents on Move:
OOIL (00316.HK) closed at $142.6, up 5.6%
LENOVO GROUP (00992.HK) closed at $23.62, down 5.5%
MENGNIU DAIRY (02319.HK) closed at $16.14, down 4.8%
TINGYI (00322.HK) closed at $12.34, down 4.7%
SANDS CHINA LTD (01928.HK) closed at $15.11, down 4.1%
CHINA RES MIXC (01209.HK) closed at $43.08, up 4.1%
SMIC (00981.HK) closed at $78.3, down 3.9%
BYD ELECTRONIC (00285.HK) closed at $28.64, down 3.4%
HSBC HOLDINGS (00005.HK) closed at $141.8, down 3.1%
HORIZONROBOT-W (09660.HK) closed at $5.01, down 3.1%

HSMI & HSSI Constituents on Move:
QINGSONG HEALTH (02661.HK) closed at $24.74, up 37.1%
NUOBIKAN (02635.HK) closed at $18.95, up 16.3%
QUANTGROUP (02685.HK) closed at $20.28, down 14.2%
160 HEALTH (02656.HK) closed at $15.89, up 13.4%
MININGLAMP-W (02718.HK) closed at $236.2, down 11.5%
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On debut today, LONGBIO-B(01779.HK) opened at $144.3, up 50.2% from the listing price of $96.06. Peaking/ bottoming at $158/132.8, the stock closed midday at $139, up 44.7% from the listing price of $96.06, on volume of 3.23 million shares and turnover of $514.5 million.
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On debut today, DAJIN(01081.HK) opened at $66.4. Peaking/ bottoming at $66.45/59.05, the stock closed midday at $63.45, down 4.4% from the listing price of $66.4, on volume of 11.22 million shares and turnover of $723.46 million.
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On debut today, LUNG FUNG GROUP(02290.HK) opened at $4.32, down 16.6% from the listing price of $5.18. Peaking/ bottoming at $4.6/3.35, the stock closed midday at $3.38, down 34.7% from the listing price of $5.18, on volume of 54.32 million shares and turnover of $251.3 million.
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