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J&T Express (1519):  demonstrated strong growth momentum in the Southeast Asian market. During the recent "Double 6" shopping festival, its total parcel volume in the Southeast Asian market reached 213 million pieces, a significant year-on-year increase of 83.5%, with parcel volumes in Indonesia and Thailand surging by 112% and 89% respectively. These impressive business figures indicate that the operations of core customers have not been substantially affected by external negative factors, and the company's core growth logic remains solid.

A continued sell-off in tech stocks weighed on US stocks

A continued sell-off in tech stocks weighed on US stocks, with all three major indices falling for the first time this week. The US May CPI rose 4.2% year-on-year, a three-year high, while core CPI rose 2.9% year-on-year, but the month-on-month increase slowed and fell short of expectations. Wall Street institutions believe that this CPI data reinforces the logic of maintaining high interest rates for a longer period, but is not enough to trigger a rate hike. The market predicts the Federal Reserve will raise interest rates by about 26 basis points by the end of the year, not significantly different from before the data release.

Hong Kong Stock Connect saw a net inflow of HK$8.243 billion on Wednesday. The Tracker Fund of Hong Kong (02800) saw the largest inflow at HK$4.06 billion, followed by Tencent Holdings (00700) with an inflow of HK$1.99 billion. Alibaba-W (09988) recorded the largest net outflow at HK$2.37 billion, followed by CNOOC (00883) with a net outflow of HK$195 million.