Daily Investment Strategy
Daily focus：Fast Retailing（6288）
Fast Retailing announced its consolidated results for the nine months ended May 31, 2025, showing a strong overall performance. Revenue reached ¥2,616.7 billion, representing a year-on-year increase of 10.6%. Operating profit stood at ¥450.9 billion, up 12.2%. Profit attributable to owners of the parent was ¥339.0 billion, an increase of 8.4%, with basic earnings per share rising to ¥1,105.36. For 3Q, EPS was ¥343.9, beat market expectation of ¥321.
Trump's tariff policy provides volatility for various markets
The Trump administration's tariff policy has become the focus of the current market, and its uncertainty and repeated changes are profoundly affecting investor sentiment and asset allocation. Although the S&P 500 index recorded a 0.3% increase this week, market volatility has increased significantly, especially in commodities and industrial stocks. The unprecedented 17% single-day increase in copper futures highlights how the policy-driven price discovery mechanism is divorced from the fundamental supply and demand relationship. Although the postponement of the tariff policy has temporarily alleviated the immediate panic in the market, the new deadline of August 1 brings continued uncertainty to investors. The Federal Reserve said in the latest meeting minutes that most officials believe that the inflationary pressure brought by tariffs may be temporary, which provides some comfort to the market.
Hong Kong Stock Connect recorded a net inflow of HK$2.9bn on Thursday, of which China Construction Bank (0939) had the largest net inflow of HK$590mn, followed by Alibaba (9988). Tencent (0700) recorded the largest net outflow of HK$730mn, followed by Xiaomi (1810).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to: https://apps.sfc.https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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