HUA HONG SEMICONDUCTOR OPENS DOWN 3.3% IN HONG KONG AS MEDIA REPORTS US RESTRICTIONS ON SUPPLYING THE COMPANY

The yuan may face seasonal weakness earlier than usual as Chinese firms move to lock in exchange rates ahead of record dividend payouts, analysts said. Hong Kong-listed mainland firms plan nearly $70 billion in distributions, peaking at $24.1 billion in June. Lower hedging costs and cheaper forward rates are prompting earlier FX conversions, potentially bringing forward pressure on the currency. The PBOC has eased rules to reduce forex costs while maintaining a firm yuan fixing.

CHINA’S CYBERSPACE AUTHORITIES PENALIZE PLATFORMS INCLUDING “CAPCUT” APP AND “JIMENG AI” FOR VIOLATIONS RELATED TO LABELING OF AI-GENERATED AND SYNTHETIC CONTENT