Zhitong Hong Kong Stock Early Knowledge | U.S. media reports that tanker passage through the Strait of Hormuz has basically stopped, and some Federal Reserve officials support a rate hike in June

【Headline Today】

U.S. Media Reports Oil Tanker Traffic in the Strait of Hormuz Has Basically Stopped

On July 8 local time, CNN reported that oil tanker traffic in the Strait of Hormuz has "basically stopped" amid unclear prospects for a 60-day ceasefire agreement between the U.S. and Iran. Jorge Leon, head of geopolitical analysis at energy research firm Rystad Energy, stated in a report that traffic on that day "seemed to be completely stagnant." He indicated that the current market perception of risk reflects the situation better than any statements from Washington or Tehran. The report noted that reopening the Strait of Hormuz is one of the key conditions for the U.S., as the strait is crucial to the global energy market. Before the U.S.-Iran conflict, about one-fifth of the world's oil and liquefied natural gas supply was transported through this waterway.

As the prospects for a complete reopening of the Strait of Hormuz have become more uncertain, global oil prices surged on Wednesday. A CCTV reporter learned on July 8 local time that a U.S. official stated that the U.S. military is launching a new round of strikes against Iran.

【Market Outlook】

U.S. Stock Indices Mixed, Most Popular Chinese Stocks Rise

As of the close of trading overnight, the Dow Jones Industrial Average fell 576.76 points from the previous trading day, closing at 52,348.39 points, a decline of 1.09%; the S&P 500 index dropped 21.14 points, closing at 7,482.71 points, a decrease of 0.28%; the Nasdaq Composite Index rose 51.96 points, closing at 25,870.65 points, an increase of 0.2%.

Popular tech stocks were mixed, with Broadcom rising nearly 5%, NVIDIA up over 3%, while Meta and Tesla fell over 2%, and Google and Microsoft dropped over 1%. Semiconductor and memory concept stocks rebounded, with SanDisk rising over 6%. The computer hardware and oil and gas services sectors led the gains, with Advanced Micro Devices rising over 7%, while precious metals, cryptocurrencies, and travel services saw significant declines.

Most popular Chinese stocks rose, with the Nasdaq Golden Dragon China Index up 2.05%. Alibaba rose over 11%, while the ADR of the Hang Seng Index fell, closing at 24,128.61 points, down 70.85 points or 0.29% from the Hong Kong close.

WTI crude oil futures for the current month rose by $4.32, closing at $74.76 per barrel, an increase of 6.13%. COMEX gold futures for the current month fell by $70.80, a decrease of 1.70%, settling at $4,086.60 per ounce.

【Hot Topics Ahead】

Federal Reserve Minutes: Some Officials Support June Rate Hike, Disagreement Reflects "Waiting for Data"

In the early hours of Thursday Beijing time, the Federal Reserve released the minutes from its first meeting chaired by new Chairman Kevin Warsh. The public gained insight into how Federal Reserve officials engaged in "family-like arguments": some officials indicated that there was already reason to raise rates last month, while officials' forecasts for the future economic direction were split into two evenly matched factions.

Gaogong Industry Research Lithium Battery Research Institute: China's Shipment of Cathode Materials for Lithium Batteries Expected to Grow 59% Year-on-Year in the First Half of 2026 According to research data from the High-tech Industry Research Institute of Lithium Batteries, the shipment volume of cathode materials for lithium batteries in China is expected to reach 3.32 million tons in the first half of 2026, a year-on-year increase of 59%. It is estimated that the total shipment volume of cathode materials in China will exceed 7.5 million tons for the entire year, with a year-on-year increase of over 50%.

Hallgain Management Limited reduces its holdings in Kwan Hung Group (00148) by 5 million shares at approximately HKD 83.67 per share

Latest data from the Hong Kong Stock Exchange shows that on July 7, Hallgain Management Limited reduced its holdings in Kwan Hung Group (00148) by 5 million shares at a price of HKD 83.6654 per share, totaling approximately HKD 418 million. After the reduction, the latest number of shares held is approximately 354 million, accounting for 31.54% of the total shares.

CICC (03908) issues a profit warning, expecting net profit attributable to parent company shareholders for the first half of the year to be between RMB 7.708 billion and RMB 8.227 billion, an increase of 78% to 90% year-on-year

CICC (03908) announced that it expects to achieve a net profit attributable to parent company shareholders of RMB 7.708 billion to RMB 8.227 billion for the first half of 2026, an increase of RMB 3.378 billion to RMB 3.897 billion compared to the same period last year, representing a year-on-year increase of 78% to 90%. After deducting non-recurring gains and losses, the expected net profit attributable to parent company shareholders for the first half of 2026 is between RMB 7.552 billion and RMB 8.062 billion, which is an increase of RMB 3.309 billion to RMB 3.819 billion compared to the same period last year, also representing a year-on-year increase of 78% to 90%.

Jiangxi Copper Company (00358) issues a profit warning, expecting interim net profit attributable to parent company shareholders to be between RMB 7.55 billion and RMB 8.50 billion, a year-on-year increase of 80.86% to 103.61%

The company expects to achieve a net profit attributable to parent company owners of RMB 7.630 billion to RMB 8.580 billion for the period from January to June 2026, prepared in accordance with Chinese accounting standards, which is an increase of RMB 3.28059 billion to RMB 4.23059 billion compared to the same period last year, representing a year-on-year increase of 75.43% to 97.27%.

New stock dark market | Puyuan Precision Electronics (00537) dark market closes down over 17%, losing HKD 796 per lot

Puyuan Precision Electronics (00537) will be listed in Hong Kong on July 9 (Thursday). As of the close, dark market trading showed a price of HKD 38.02, down 17.31% from the offering price of HKD 45.98, with a loss of HKD 796 per lot of 100 shares, excluding fees.

Ding Tai High-tech (01377) dark market closes down over 9%, losing HKD 3,500 per lot

Ding Tai High-tech (01377) will be listed in Hong Kong on July 9 (Thursday). As of the close, dark market trading showed a price of HKD 345.0, down 9.21% from the offering price of HKD 380, with a loss of HKD 3,500 per lot of 100 shares, excluding fees New Stock Dark Market | Luxshare Precision (02475) Dark Market Closes Down Nearly 5%, Losing HKD 313 per Lot

Luxshare Precision (02475) will be listed in Hong Kong on July 9 (Thursday). As of the close, dark market trading showed a price of HKD 60.15, down 4.95% from the offering price of HKD 63.28, with each lot consisting of 100 shares, resulting in a loss of HKD 313 per lot excluding fees.

New Stock Dark Market | SanHuan Group (06951) Dark Market Closes Down Over 4%, Losing HKD 430 per Lot

SanHuan Group (06951) will be listed in Hong Kong on July 9 (Thursday). As of the close, dark market trading showed a price of HKD 96, down 4.29% from the offering price of HKD 100.3, with each lot consisting of 100 shares, resulting in a loss of HKD 430 per lot excluding fees.

New Stock Dark Market | Qiyunshan Food (02797) Dark Market Closes Up 101.38%, Earning HKD 4055 per Lot

Qiyunshan Food (02797) will be listed in Hong Kong on July 9 (Thursday). As of the close, dark market trading showed a price of HKD 16.11, up 101.38% from the offering price of HKD 8, with each lot consisting of 500 shares, resulting in a profit of HKD 4055 per lot excluding fees.

[Stock Highlights]

TCL Electronics (01070): Black Electronics Entering Demand Fulfillment Period for the World Cup in the US, Canada, and Mexico

The 2026 World Cup will be held from June 12 to July 20. Institutions point out that for the black electronics industry, sports events often lead to improved replacement demand and increased brand exposure. It is reported that during this World Cup, TCL sponsored the national teams of Spain, Germany, and Argentina, and signed England player Bukayo Saka as a brand ambassador.

Industrial Securities pointed out that black electronics companies are entering the demand fulfillment period for the World Cup in the US, Canada, and Mexico. In terms of industry landscape, TCL Electronics' joint venture with Sony is accelerating its quest for the number one global market share, and the joint venture company has significant potential to enhance TCL's own performance. Guojin Securities stated that Samsung has previously achieved a leap in global high-end brand positioning through sports marketing, and TCL is expected to replicate Samsung's growth path