A-Share Indexes Close Mixed; US Major Indexes Rebound Slightly: New Yong'an International Securities Morning Note
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Abstract
New Yong'an International Securities' August 17 morning note reports that A-shares traced a W-shaped intraday path before ending flat, with the Shanghai Composite up 0.01% at 3,927.18, the Shenzhen Component up 0.45%, and the ChiNext up 1.12%, led by rare earths. Hong Kong opened lower and slid, the Hang Seng Index closing down 1.1% at 25,116.85 with the Hang Seng Tech Index off 1.77% and turnover of HK$254.179 billion, though coal stocks firmed and fiber-optic names rebounded. US indexes closed slightly lower, the Dow at 53,732.41 (-0.2%), S&P 500 at 7,785.76 (-0.17%), and Nasdaq -0.28%, with Europe mixed. On the policy front, Treasury Secretary Bessent flagged "unprecedented" economic isolation measures on Iran for next week, and President Trump ordered a sharp reduction in US-South Korea joint exercises. China's July loans to the real economy showed a net repayment of RMB 590 billion, the largest since 2002 data began, while aggregate financing rose RMB 1.4 trillion, almost entirely from RMB 1.3 trillion of government bonds; US July retail sales fell 0.6% month over month. Hong Kong lifted its 2026 GDP growth forecast to 3.5%-4.5% on AI-driven exports. SMIC's Q2 profit of US$479 million surged 261.7% with 95% utilization, and SenseTime guided to its first interim profit of RMB 500-700 million.