Market Highlights
As approved by the State Council, Shandong Province confirmed to entrust its CNY100bn in pension funds to National Council for Social Security Fund for the purpose of investment management. As more local pension funds flow into the stock market, it is expected to support the mainland Chinese and Hong Kong equity markets.
ZTE (763.HK) announced that its profit for first half of this year increased by 43% YoY, which beats market consensus; this may boost ZTE's share price.