There was HKD883.9 million, HKD526.9 million and HKD319.4 million Southbound Trading net inflow to YOFC (06869.HK), KB LAMINATES (01888.HK) and POP MART (09992.HK).

There was HKD3.9 billion, HKD1.3 billion and HKD5.9 million Southbound Trading net outflow from TRACKER FUND (02800.HK), BABA-W (09988.HK) and KINGBOARD HLDG (00148.HK).

For Southbound Trading of Shanghai-Hong Kong Stock Connect, CNOOC (00883.HK) was the most active stock with highest net inflow of HKD609.5 million, while TRACKER FUND (02800.HK) was the most active stock with highest net outflow of HKD2.2 billion.

For Southbound Trading of Shenzhen-Hong Kong Stock Connect, YOFC (06869.HK) was the most active stock with highest net inflow of HKD780.2 million, while TRACKER FUND (02800.HK) was the most active stock with highest net outflow of HKD1.7 billion.

At close, Southbound Trading net outflow totaled HKD0 , representing 39.32% of the total transaction amount of HKD124.42 billion.
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Tencent Cloud announced that its large model service platform TokenHub will lower the pricing of the MiniMax-M3 model starting June 15 (next Monday), with inference input, inference output and cache hit fees all reduced by 50%.

Starting June 12 (today), the price of the Hy-MT2-Pro model has also been cut, with input prices reduced by 66.67% and output prices lowered by 55.56%, allowing users to enjoy the same high-quality model services at a lower cost.
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Due to personal reasons, AI startup OpenAI CEO Sam Altman has decided to postpone his planned visit to South Korea, according to Yonhap News Agency.

Altman was originally scheduled to visit South Korea from 14 to 15 June and meet with executives from Samsung Electronics, Kakao and NAVER.
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The People's Bank of China (PBOC) announced that, in order to maintain ample liquidity in the banking system, it will conduct an outright reverse repo of RMB600 billion next Monday (15th) through fixed-quantity, interest-rate tendering with multiple-price allotment. The tenor will be six months (183 days), with maturity on December 15 (postponed in case of holidays).
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AKESO (09926.HK) announced that 奇佑康 (gumokimab, AK111) has received approval from the National Medical Products Administration of the People’s Republic of China (NMPA) for the treatment of moderate-to-severe plaque psoriasis.

The approval of gumokimab for the treatment of moderate-to-severe plaque psoriasis is based on one pivotal Phase III clinical study (AK111-301) and three supportive studies.

Currently, Phase III clinical trials for the registration of gumokimab for the treatment of moderate-to-severe plaque psoriasis and ankylosing spondylitis have met all efficacy endpoints.
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ENN ENERGY (02688.HK)'s largest shareholder ENN (600803.SH) is considering abandoning its nearly USD12 billion buyout offer for the Hong Kong-listed company, Bloomberg reported, citing people familiar with the matter.

ENN Natural Gas may decide not to extend the deadline for fulfilling the preconditions of the privatization deal, sources said.

ENN, which holds about 34% of ENN ENERGY through Xinneng (Hong Kong) Energy Investment, had previously agreed to extend the March 13 deadline to June 12.

In March 2025, ENN Natural Gas proposed a cash-and-stock offer valuing ENN ENERGY at approximately HKD90.5 billion (USD11.5 billion).

The Shanghai-listed company, one of China’s major LNG importers, said at the time it would not raise the offer and planned to delist ENN ENERGY subsequently. Meanwhile, ENN applied for a Hong Kong listing.
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The People's Bank of China released the financial statistics report for May. As of end-May, the balance of broad money (M2) stood at RMB353.67 trillion, up 8.6% YoY, in line with market expectations.

The balance of narrow money (M1) was RMB114.89 trillion, up 5.5% YoY, higher than the market expectation of a 5.0% rise.

Currency in circulation (M0) amounted to RMB14.69 trillion, up 11.9% YoY. In the first five months, net cash injection totaled RMB590.7 billion.
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The People's Bank of China released its financial statistics report for May. As of end-May, the outstanding balance of domestic and foreign currency loans stood at RMB284.79 trillion, up 5.4% YoY. Outstanding RMB loans amounted to RMB281.02 trillion, up 5.5% YoY.

In the first five months, new RMB loans added by RMB9.11 trillion, slightly above market expectations of RMB9.04 trillion. By sector, household loans reduced by RMB631.4 billion, of which short-term loans fell by RMB694.2 billion while medium- to long-term loans grew by RMB62.8 billion. Loans to enterprises and public institutions hiked by RMB9.63 trillion. Loans to non-banking financial institutions lowered by RMB279.7 billion.

As of end-May, outstanding foreign currency loans totaled USD553.2 billion, up 2.6% YoY. In the first five months, foreign currency loans increased by USD8.2 billion.
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Outstanding Loan Growth YoY for May in China is 5.5%, lower than the previous value of 5.6%. The forecast was 5.5%.~



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M2 Money Supply YoY for May in China is 8.6%, unchanged from its last period. The forecast was 8.5%.~



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TENCENT (00700.HK)'s Tencent Cloud announced that it will provide live streaming technical services during this World Cup to official broadcasting platforms in 16 countries and regions worldwide, covering China, Hong Kong, South Korea, Singapore, Malaysia, Indonesia, Thailand, Pakistan, the United Arab Emirates, as well as Colombia, Brazil, Mexico, Argentina, Peru, Ecuador and Chile. This marks the widest coverage by a Chinese cloud service provider in serving World Cup broadcasting platforms.
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The China Academy of Information and Communications Technology (CAICT) announced that it organized a seminar on Wednesday (10th) under the theme of "Trusted Token Cloud Services".

During the event, CAICT, together with eSurfing Cloud, Alibaba Cloud, Huawei Cloud, JD Cloud, LENOVO GROUP (00992.HK), and StepFun, among more than ten enterprises, jointly launched the "Token Cloud Service Quality and Empowerment Evaluation Initiative" and released multiple outcomes.

Among the initiatives, a "Cloud-Model-Chip-Application" ecosystem advancement matrix was established. The matrix, relying on the Cloud Computing Open Source Industry Alliance, aims to build a "standardized, measurable and sustainable" industry benchmark for collaboration across cloud, model, chip and application.

The matrix will focus on five major areas: industry research, standards formulation, evaluation and verification, ecosystem development, and international cooperation. It seeks to promote industry exchanges, foster a healthy ecosystem, and drive high-quality industry development.
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BANK OF CHINA (03988.HK) announced that recently there have been massive uncertainties in global geopolitical conditions and the Federal Reserve's monetary policy. Influenced by multiple factors, price volatility in domestic and overseas precious metals markets has further intensified.

To protect the interests of customers involved in precious metals-related businesses, including Gold Accumulation Plan, Gold Savings Plan, account precious metals, bi-directional account precious metals, and agency personal Shanghai Gold Exchange services, the Bank has specifically reminded customers to strengthen market risk prevention.

Customers are advised to conduct rational investments based on their own financial conditions and risk tolerance, reasonably control their precious metals positions, and mitigate the impact of short-term price fluctuations through long-term investment, in order to guard against the risk of capital losses arising from market volatility.
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Huawei officially unveiled HarmonyOS 7 at the Huawei Developer Conference. Richard Yu, Executive Director of Huawei, and Chairman of the Consumer BG, remarked that HarmonyOS 7 is an all-scenario intelligent operating system, with Harmony Intelligence fully evolving toward an Agent architecture.

HarmonyOS 7 features three major upgrades, namely an Agent-native system architecture, Harmony Intelligence Agent Framework 2.0, and the system AI assistant Xiaoyi.
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Tesla's FSD is set to be launched in China, while BYD COMPANY (01211.HK) is expanding its fully self-developed advanced intelligent driving system "God's Eye" to the mass market, HSBC Global Investment Research wrote in its report.

The broker expected this to enhance consumer awareness of autonomous driving and willingness to pay, thereby accelerating industry commercialization.

HSBC Global Investment Research favored companies leading in L4 commercialization, suppliers with value-added capabilities, and automakers with strong model cycles.

It maintained Buy ratings on HORIZONROBOT-W (09660.HK), XPENG-W (09868.HK), WERIDE-W (00800.HK), JOYSON ELEC (00699.HK) and PONY-W (02026.HK), with TP of HKD11.5, HKD105, HKD29.6, HKD21.1 and HKD135, respectively.

Among them, it showed a preference for PONY-W, WERIDE-W, HORIZONROBOT-W and XPENG-W.
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Chinese home appliance manufacturer Dreame Technology is weighing a Hong Kong listing as early as next year, potentially raising several hundred million USD, Bloomberg, citing people familiar with the matter, reported. The company is working with advisers to advance the listing process.

Dreame Technology raised RMB3.6 billion in its Series C funding round in 2021. According to its website, Dreame Technology was founded in 2017. As of the end of last year, the company had filed more than 10,000 patent applications worldwide and had obtained more than 3,000 authorized patents.
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UBTECH ROBOTICS (09880.HK) and METAX (688802.SH) officially signed a strategic cooperation agreement to jointly establish Xixuan Chuangzhi (literal translation of "曦選創智"), focusing on the research, development and mass production of embodied AI chips.

Xixuan Chuangzhi has a registered capital of RMB100 million and is jointly established by listed companies including METAX, UBTECH ROBOTICS and FENGLONG (002931.SZ). METAX and UBTECH ROBOTICS each hold a 35.01% stake, ranking as the largest shareholders on a par, while FENGLONG holds 4.7%.
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Chinese robotics startup EngineAI has confidentially submitted an IPO application in Hong Kong and is working with CICC and CITIC Securities to discuss the IPO, Bloomberg reported, citing sources.

EngineAI raised USD200 million in its Series B financing in April, with a valuation breaching RMB10 billion.

According to its website, EngineAI was founded in 2023 and is headquartered in Shenzhen. The company focuses on the R&D, manufacturing and commercial deployment of humanoid robots and related products.
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China is reportedly planning to invest RMB2 trillion over the next five years to build data centers, with support from CHINA MOBILE (00941.HK) and CHINA TELECOM (00728.HK), CLSA said in a research report. The broker believed this is the reason behind the recent pullback in BABA-W (09988.HK)'s share price.

The broker noted that this development may raise market concerns about computing power becoming commoditized. However, it believed BABA-W's competitive edge lies in Model-as-a-Service (MaaS) and application-level offerings, rather than merely Infrastructure-as-a-Service (IaaS), which are areas where CHINA MOBILE and CHINA TELECOM are unlikely to compete.

In response to some investors questioning whether BABA-W's management culture remains competitive in the AI era, the broker said large enterprises often face more challenging organizational structures and cultural issues when dabbling into new arenas, but they also possess strong capital and resource advantages. BABA-W's senior management has demonstrated determination to capture greater AI market share.
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China's Ministry of Industry and Information Technology and the State Administration for Market Regulation summoned and issued reminders to automobile manufacturers suspected of engaging in irrational competition.

Authorities required companies to strictly comply with the "Price Law of the People's Republic of China" and the "Provisions on Curbing Low-price Dumping," among other laws and regulations.

In accordance with the "Compliance Guidelines for Pricing Conduct in the Automotive Industry", companies were urged to strengthen price compliance frameworks, enhance product quality control, effectively safeguard consumers' legitimate rights and interests, and jointly maintain a market order featuring quality products at reasonable prices and healthy competition.
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