Citigroup said in a research note it has added Geely Automobile (00175.HK) to its "Pan-Asia Focus List", citing a breakthrough in premium brand Zeekr’s sales, strong export momentum and a more attractive risk-reward profile versus peers. The bank rates Geely Buy with a PT of HK$30 and an expected dividend yield of 4%.

China government bond futures opened: 2-year (TS) main contract flat; 5-year (TF) main contract up 0.02%; 10-year (T) main contract up 0.04%; 30-year (TL) main contract up 0.12%.

UBS cut Laopu Gold (06181.HK) PT to HK$650 from HK$930 and reiterated a Buy rating. The bank says boutique upgrades, VIC services and more frequent new-product launches enhance the company’s brand, channel and product positioning, helping cushion a gold-price pullback. UBS views the shares as oversold and cites potential catalysts including stronger-than-expected 1H results, VIC-related activity and H2 overseas store openings; it forecasts 1H revenue and net profit up about 93% and 118% YoY. UBS expects gold prices to recover in H2, notes new stores could offset same-store-sales pressure if gold stays weak, trimmed 2026–28 EPS forecasts by 0–2% and cut the PT citing high base effects, slower medium-term growth and competitive pressures.