Consultation Summary on Suggestions to Enhance the Competitiveness of the Listing Mechanism Released by the Hong Kong Stock Exchange

Affected by macroeconomic and geopolitical conflicts, the yield of 10-year US Treasury bonds has risen to about 4.69%, reaching a high since January 2025. The market is concerned whether US President Trump will repeat the TACO model of compromise in trade disputes. The Office of the United States Trade Representative (USTR) announced on July 23 that it has decided to impose tariffs ranging from 10% to 12.5% on 60 economies. The main reason for the current increase in yields is due to geopolitical conflicts, Iran's tough stance, and the approaching midterm elections in the United States. Trump needs to maintain his image as a strongman in diplomacy, which limits TACO's operational space.

[Futu, Tiger Insider Trading Case Third Defendant Yang Jingyao Appears, Applies to Unfreeze Assets] According to Caixin, the third defendant in the insider trading case involving U.S. stock options of Futu Holdings and Tiger Brokers, Yang Jingyao, has appeared and applied to unfreeze assets. In a statement submitted to a U.S. court on July 23, Yang Jingyao claimed that his personal assets far exceed his personal liabilities and that he has no outstanding debts. Documents from the Hong Kong Stock Exchange show that Yang Jingyao, the single largest shareholder of Glory Sun Financial, is 32 years old and is a businessman and private investor. Currently, there is no public evidence indicating that the securities accounts or funds involved in the U.S. court's restraining order are related to the failed offer by Glory Sun Financial.

Morgan Stanley Ethereum Trust has received effective SEC documents and is making progress in the registration process. （Cointelegraph）

Falling share prices, debt obligations and difficult market conditions are forcing former bitcoin accumulators to sell their holdings and restructure operations.

[Zhiyuan Initiates Hong Kong IPO, Projected to Lead Global General-Purpose Humanoid Robot Shipments by 2025] According to Omdia statistics, Zhiyuan's general-purpose humanoid robot shipments are expected to exceed 5,100 units in 2025, ranking first globally and capturing approximately 39% of the market share. This June, Zhiyuan's 15,000th general-purpose embodied robot, the Elf G2, was successfully mass-produced and rolled off the production line. Entering the capital market, Zhiyuan has become a leading player in the humanoid robot sector, alongside Tesla and Boston Dynamics.