Aug 25 — Hong Kong close: Hang Seng Index down 6.23 pts (-0.02%) at 25,511.10; Hang Seng Tech Index down 5.50 pts (-0.12%) at 4,588.54; Hang Seng China Enterprises Index (HSCEI) down 25.99 pts (-0.31%) at 8,445.37; Red Chip Index down 18.56 pts (-0.4

1. The People's Bank of China (PBOC): Will conduct 500 billion yuan of one-year Medium-term Lending Facility (MLF) operations on August 25. 2. The PBOC: Will conduct overnight reverse repurchase operations from August 27 to September 1. 3. Bessant Securities stated that US Treasury bond buybacks have not yet started, raising market doubts about the inconsistent policy signals. 4. The US Treasury can use nearly $1 trillion in general accounts to fund bond buybacks. 5. Bessant Securities plans to "deter" bond short sellers, considering buybacks and adjustments to the US Treasury issuance structure. 6. Citadel Securities questions US Treasury bond buybacks, stating that intervention could exacerbate inflationary pressures. 7. German Finance Minister: The surge in bond yields should be attributed to Trump. 8. An investment guru who previously guided Bessant Securities speaks out against it: The Treasury's buyback of US Treasury bonds is a mistake. 9. MAN Group releases a report on US investment risks, mentioning the "nuclear option" of refusing to pay on US Treasury bonds. 10. China Central Depository & Clearing Co., Ltd. (CCDC): Reduces some of its main business service fees. 11. Luxshare Precision: Plans to register and issue bonds not exceeding RMB 25 billion. 12. The People's Bank of China: Successfully issued RMB 30 billion in central bank bills in Hong Kong. 13. Agricultural Bank of China's London branch successfully issued the UK's first free-trade offshore bond. 14. HSBC reportedly purchased at least US$3 billion in Indian government bonds since July. 15. The popularity of time deposits is cooling; participating insurance products are becoming a key product promoted by banks. 16. Fitch predicts that the UAE government's consolidated debt will rise, and banks and companies may choose opportune times to issue bonds. 17. South Korea's Ministry of Strategy and Finance plans to reduce the scale of government bond issuance in September.

China A-share copper-cable high-speed-connection concept strengthened; LvLian Technology rose over 13%, with Shenyu, Woer Hecai, Chuangyitong and Zhongfu Circuit among the top gainers.