PRE-MARKET CHINESE STOCKS NEWS: Chinese banks reduced deposit rates, while Loan Prime Rates are also expected to be reduced
Alibaba Health Information Technology (241 HK) - Co. FY (CNY) net rose 62.2% Y/Y to 1.4bln, rev. rose 13.2% Y/Y to 30.6bln. (Newswires)
Trip.com (9961 HK) - Co. Q1 (CNY) net fell 0.8% Y/Y to 4.3bln, rev. rose 16% Y/Y to CNY 13.8bln. (Newswires)
Will Semiconductor (603501 CH) - Co. plans to change company name to Omnivision Integrated Circuits Group. (Newswires)
YTO Express (600233 CH) - Co. April courier business rev. rose 16.3% Y/Y to CNY 5.8bln. (Newswires)
Yuexiu Property (123 HK) - Co. announced disposal of 65% equity interests in Beijing Haizhen Real Estate for CNY 4.2bln. (Newswires)
3SBio (1530 HK) - Pfizer (PFE) signed a licensing agreement worth about USD 6bln with Chinese biopharmaceutical company 3SBio Inc for the development, manufacturing and commercialisation of a drug which could be used to treat certain types of cancer and tumours. (Newswires)
Financials
Chinese banks including the big 4 ICBC (1398 HK), Agricultural Bank of China (1288 HK), Bank of China (3988 HK) and China Construction Bank (939 HK) cut deposit rates. (Newswires)
China banks’ wealth products are said to see inflows during Q2 following rate cuts, while total assets of fixed income products rose by 8.4% and cash management products rose 7.9%. (Shanghai Securities News)
Other NewsÂ
China issued a statement on the US adjusting chip export controls in which it stated the US undermines consensus reached in Geneva talks, while it asks the US to correct wrongdoings and it vowed to take measures if the US insists on going its own way, according to Bloomberg. (Newswires)
China's Foreign Minister Wang hopes to resolve the anti-subsidy case surrounding Chinese EVs with the EU as soon as possible, while he urged Germany to avoid undermining bilateral cooperation in the name of 'de-risking' and stated that China and Germany should jointly oppose unilateralism and protectionism. (Xinhua)
20 May 2025 - 01:52- EquitiesResearch Sheet- Source: Newswires
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts