Daily focus：Xiaomi（1810）
YU7 secured 200,000 orders within the first three minutes of sale and exceeded 289,000 orders within one hour, far surpassing the SU7’s 89,000 orders in the entire first 24 hours. This strong demand could drive electric vehicle deliveries to exceed 400,000 units in 2025 and potentially surpass 600,000 units in 2026. Besides automotive products, Xiaomi also launched its first AI glasses, featuring a lightweight design, a 12MP camera, open high-quality headphones, and an AI voice assistant. Overall, through the YU7 and AI glasses, Xiaomi is strengthening its layout in high-end smart hardware and aims to drive sustained growth in revenue with strong sales volumes and improved pricing.
Vietnam trade deal boosts market confidence
The trade deal reached between the Trump administration and Vietnam became the most watched topic in the market yesterday, and the S&P 500 index rose 0.5% to a record high of 6,227. The agreement significantly reduced the import tariff on Vietnamese goods from the originally threatened 46% to 20%, far below the market's worst expectations, bringing significant benefits to US companies that rely on Vietnam's supply chain. Nike, Under Armour and other clothing brands rose in response, reflecting investors' optimistic expectations of easing supply chain cost pressures. As the seventh largest trading partner of the United States, Vietnam's exports account for 30% of the country's GDP. This agreement not only reduces operating costs for US companies, but also sets a positive precedent for trade negotiations before the July 9 tariff deadline. The market will closely monitor the progress of the Trump administration's negotiations with other major trading partners, especially potential agreements with Japan and India.
Hong Kong Stock Connect recorded a net inflow of HK$5.04bn on Monday, of which Tracker Fund recorded the largest net inflow of HK$1.67bn, followed by Innovent Biologics (1801). Alibaba (9988) recorded the largest net outflow of HK$1.73bn, followed by Tencent (0700).
Hong Kong stock market rose on the first trading day of the second half of the year. The HSI opened 232 points higher, and the gains narrowed after rising 300 points at once. The full-day increase was 149 points or 0.6%, closing at 24,221; the HSCEI rose 46 points or 0.5% to 8,724; the HSTECH fell 33 points or 0.6% to 5,269. The total market turnover for the day was HK$240.2bn. Macau's gaming revenue in June increased by 19% yoy, beating consensus, and the second highest gaming revenue after the epidemic. The share prices of Macau gaming stocks Melco International (0200), Sands China (1928) and Galaxy Entertainment (0027) rose by 5.1% to 13.4%. New World (0017) reached a bank financing agreement of HK$88.2bn, and its share price rose by 9.8%.
Source: KGI Investment Products and Solutions Department
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