Hong Kong's monetary authority has issued the city's first stablecoin issuer licenses. The Hong Kong Monetary Authority announced on April 10 that, pursuant to the Stablecoin Ordinance, the Monetary Authority has granted stablecoin issuer licenses to Anchorpoint FinTech Limited and The Hong Kong and Shanghai Banking Corporation Limited to issue stablecoins in Hong Kong. The licenses are effective immediately. According to the licensees' business plans, they intend to commence operations within the coming months after completing relevant preparatory work.
In market trends, the Nasdaq Composite recorded its eighth consecutive day of gains last Friday, with most technology stocks advancing. At the close over the weekend, the Dow Jones Industrial Average fell 269.23 points to 47,916.57, a decline of 0.56%. The S&P 500 index dropped 7.77 points to 6,816.69, down 0.11%. The Nasdaq Composite gained 80.47 points to 22,902.89, an increase of 0.35%. For the week, the Nasdaq climbed 4.68%, the S&P 500 rose 3.56% marking its largest weekly gain since last November, and the Dow advanced 3.04%. Major tech stocks mostly rose, with Broadcom up over 4%, Advanced Micro Devices gaining over 3%, and NVIDIA and Amazon.com both rising over 2%. Popular Chinese ADRs closed mixed, with the Nasdaq Golden Dragon China Index edging up 0.31%. The Hang Seng Index ADR rose proportionally, closing at 25,954.46, up 60.92 points or 0.24% from the Hong Kong market close. The NYMEX WTI crude oil front-month contract fell $2.24 to settle at $95.63 per barrel, down 2.29%. The COMEX gold front-month contract dropped $47.00, or 0.98%, to $4,771.0 per ounce.
In key developments, the third round of talks between Iran and the US has concluded with significant disagreements remaining between the two sides. Reports confirmed on the 12th local time that another round of discussions held in Islamabad has ended. Iranian sources indicated that serious differences persist between the Iranian and US delegations. The 21-hour negotiation failed to yield an agreement. Saxo Bank Chief Investment Strategist Charu Chanana stated that the inconclusive outcome of the talks is a setback. For markets, this suggests the previous relief rally is likely to fade. Oil prices could rebound, and risk sentiment may be hit again, with the Strait of Hormuz remaining a critical chokepoint risk, even if not completely closed.
Concerns are rising in the US and UK that AI could expose vulnerabilities in the financial industry. Following the preview release of Anthropic's AI model "Mythos," which the company claims can identify and exploit vulnerabilities in "all major operating systems and all major web browsers" at a speed and scale significantly surpassing traditional manual processes, US authorities convened an emergency meeting with bank executives. Due to cybersecurity concerns, the model has not been widely promoted. Sources indicated that shortly after the model's release, US Treasury Secretary and Federal Reserve Chair quickly summoned executives from Bank of America, Citigroup, Wells Fargo, and other banks to ensure they understand the potential risks posed by the Mythos model and similar future models and to take measures to protect their systems. Separately, reports suggest UK banks are also closely monitoring the Mythos model, and the Bank of England will discuss related issues with institutions like the Treasury in upcoming meetings.
China's Cyberspace Administration and the National Railway Administration have jointly summoned seven third-party platforms involved in train ticket sales, including Ctrip, Qunar, Fliggy, ZX Train Tickets, and Gaotie Manager. The authorities demanded that these platforms strictly comply with cybersecurity laws and regulations, refrain from using automated programs for large-scale, high-frequency ticket grabbing that interferes with the security verification measures of the official 12306 platform, and must not disrupt or endanger the secure and stable operation of the 12306 platform.
China has successfully launched a satellite internet technology test satellite. At 19:32 Beijing Time on April 11, 2026, the Taiyuan Satellite Launch Center used a Jielong-3 carrier rocket to successfully launch the satellite from waters near Yangjiang, Guangdong. The satellite entered its predetermined orbit smoothly, marking a complete success for the mission. This was the 11th flight mission for the Jielong-3 carrier rocket.
The CEO of optical communications leader Lumen Technologies stated that capacity for 2028 is facing a sell-out. Michael Hurston said on Friday that demand from tech giants for the company's optical components is accelerating, and capacity for the entire year of 2028 could be completely sold out soon. Hurston remarked, "The capital expenditure scales of several US hyperscale cloud providers are enormous and show no signs of slowing down. Our capacity is increasingly failing to keep up with demand. If current trends continue, within two more quarters, our entire capacity for 2028 will be completely sold out." This trend involves Hong Kong-listed optical communication stocks such as YOFC, TIME INTERCON, CIG, and FIT HON TENG.
Rare earth concentrate prices have been raised for the seventh consecutive quarter, with a significant 45% increase quarter-on-quarter for Q2. On Friday, both Baotou Steel and China Northern Rare Earth announced adjustments to their associated transaction prices for rare earth concentrates in the second quarter of 2026. Notably, this price adjustment marks the highest increase and price level since the两家 companies established a unified pricing mechanism, continuing a seven-quarter rising streak. This involves Hong Kong-listed stock JLMAG.
XUNCE announced that it has formally signed a strategic cooperation agreement with the Shenzhen Data Exchange. The Shenzhen Data Exchange is a state-owned enterprise established by the Shenzhen Municipal Party Committee and Government to deepen market-oriented reforms of data要素. According to the agreement, XUNCE will collaborate with the exchange on multiple fronts, including jointly expanding data要素 and AI innovation businesses, co-building a data assetization and data asset recognition service system, and establishing embodied AI data specification systems.
SHUANGDENG announced an investment in a project to produce 12GWh semi-solid-state AI Data Center (AIDC) energy storage battery cells and system integration. In a disclosure on April 10, 2026, the company entered into an agreement with the Jiangsu Xuyi Economic Development Zone Management Committee. According to the agreement, the company will utilize its resources and advantages to construct and deploy the project within the zone, with the investment plan to be implemented gradually.
CANSINOBIO announced that its Diphtheria, Tetanus, and acellular Pertussis (combined, three components) vaccine (DTcP) for infants and young children has received New Drug Application (NDA) approval from China's National Medical Products Administration (NMPA). The vaccine, branded as Pan Kang Xin®, is indicated for children under two years old.
TIANLI INT HLDG announced its interim results for the six months ended February 28, 2026. Revenue reached approximately RMB 2.143 billion, a year-on-year increase of 14.2%. Gross profit was approximately RMB 753 million, up 6.8% year-on-year. Profit for the period was approximately RMB 471 million, representing a 21% increase compared to the prior year. Basic earnings per share were 22.84 cents.
In a company spotlight, REMEGEN announced that the New Drug Application for its drug Disitamab Vedotin (RC48, brand name: Aidixi®) for the treatment of HER2-expressing urothelial carcinoma has been approved. The company received the drug registration certificate from the NMPA. This approval is for the new indication of Disitamab Vedotin in combination with Toripalimab for the treatment of locally advanced or metastatic urothelial carcinoma with HER2 expression (IHC 1+/2+/3+). This marks the fifth approved indication for Disitamab Vedotin in China. In response to investor inquiries, REMEGEN stated that its 2025 operating revenue increased by 89.36% year-on-year, primarily driven by rapid sales growth of its core products, Telitacicept and Disitamab Vedotin, in the domestic market, alongside a significant increase in technology licensing revenue from granting Vor Biopharma Inc. exclusive rights to develop and commercialize Telitacicept outside Greater China. The company's 2025 financial statements have been audited by Ernst & Young Hua Ming LLP, which issued an unqualified audit opinion, confirming the financial data accurately and completely reflects the company's operating results and financial position.
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