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<Research>JPM Estimates BABA-Ws T-Head Valuation to Be US$25-62B, Spinoff & Separate Listing Unlikely This Yr
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<H Shrs>HSI Climbs 88 Pts at Midday as BABA-W/ XIAOMI-W Gain; POP MART Swells 6%+
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Trump Thanks Xi for Cooperation on TikTok Matter
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<Midday Takeaway>HSI Closes Midday at 26,718, Up 88 pts; HSTI Closes Midday at 5,769, Up 7 pts; POP MART Up over 6%; MTR CORPORATION, SHK PPT, MMG, MORIMATSU INTL, GANFENGLITHIUM Hit New Highs
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<Research>M Stanley's Focus List for HK Stocks (Table)
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<Research>M Stanley Lists Top 50 CN/ HK Holdings Among Long-Only Emerging Mkt & CN Active Managers (Table)
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<Research>Citi Expects Alphabet to Solidify Position via Continuous Evolution of AI Strategy, Reaffirms Buy Rating
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Jewelry/ Gold Stocks Thrive; LAOPU GOLD Up ~7%; LUK FOOK HOLD Once Hits 7.5Yrs High; CHOW TAI FOOK Yet Soft
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BOJ Lifts Economic Growth Forecast for Current Fiscal Yr to 0.9%
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<Research>Citi: Amazon.com Shows Strong Performance in Online Holiday Shopping Season, Remains Top Pick in Internet Sector
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<Capital>HKD Softens; Spot USD T/T Rate at 7.7976
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BOJ Maintains Policy Rate at 0.75%, In Line
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<Research>CLSA Estimates CN Auto Sales to Drop 4% This Yr, Still Upbeat About BYD's Solid Overseas Biz
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<Research>M Stanley Expects CN Property Managers' 2025 Results Largely In Line, Highest Profit Growth for CHINA RES MIXC, GREENTOWN SER
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<Research>Citi Keeps Buy on Baidu for Clear Full-Stack Tech Capabilities
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<Research>JPM Adds CHOW TAI FOOK TP to $17, Keeps Overweight Rating
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<Research>Citi Lowers JOHNSON ELEC H's TP to HKD32; 3FQ Results Slightly Miss
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<Research>Citi: TENCENT TP Lifted to $783 as AI Strategy Shift Is Key Catalyst
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GOLDWIND Leaps ~10%; Multiple CN-Listed Commercial Aerospace Stocks Hit Day's Limit
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MOC Monitoring: CN 2025 Online Retail Sales of Mobile Phones/ Smart Robots Hike by 20.5%/ 18% Each
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