Hong Kong equities registered a marginal decline as investors grew cautious amid tightening liquidity conditions and renewed geopolitical instability. Market participants continue to assess the potential fallout from rising tensions in the Middle East and weakening support from central banks.
Shares of Aeroflex Industries Ltd. $AEROFLEX.NS continued their sharp upward trajectory for a third straight trading session on June 20, surging by over 27% in total since the start of the rally. The upward momentum has been accompanied by exceptionally high trading volumes, signaling elevated market interest and increased participation from both institutional and retail investors.
Global professional services firm Genpact $G is under scrutiny as employees in certain Indian locations, including Hyderabad, express discontent over a mandatory 10-hour workday policy. This internal mandate, which integrates a company dashboard to track "active hours", has sparked criticism concerning employee well-being while offering minimal added benefits.
Two of the world’s largest retailers, Walmart $WMT and Amazon $AMZN, are reportedly evaluating the issuance of their own U.S. dollar-backed stablecoins, according to sources cited by The Wall Street Journal. While neither company has officially confirmed development efforts, the move underscores growing institutional interest in blockchain-native payment instruments as the U.S. regulatory environment for digital assets shows signs of maturing.
Boeing Co. $BA is under renewed scrutiny following the crash of an Air India Boeing 787 Dreamliner en route to London, which left 241 of 242 passengers dead. The cause is still unknown, but regulators are evaluating the need for additional inspections or possible grounding of the 787 fleet. The incident interrupts early signs of recovery under CEO Kelly Ortberg’s leadership. Boeing shares fell nearly 5% on the news, reflecting investor concern over potential regulatory fallout and financial consequences. The timing is especially damaging as the company was starting to rebuild trust after years of safety and production setbacks.
Walmart Inc. $WMT is reestablishing its partnership with Synchrony Financial $SYF for the issuance of its credit cards, signaling a renewed push into consumer finance. The decision comes as Walmart-backed fintech platform One, operated by OnePay, selects Synchrony to issue both co-branded and private-label credit cards, set to launch later in 2025.
Oversea-Chinese Banking Corp $OVCHY has initiated another endeavor to acquire complete control over Great Eastern Holdings Ltd. by proposing a lucrative deal of SGD 900 million (USD 700 million) for the remaining shares. This marks the fourth effort by the Singaporean institution to strengthen its position and obtain full ownership of one of the region’s most prominent insurers.
Hewlett Packard Enterprise $HPE posted stronger-than-anticipated results for its fiscal second quarter. The Texas-based technology firm reported 7.63 billion USD in revenue, marking a 6% increase year-over-year. This exceeded the analyst consensus of 7.46 billion USD, driven by broad demand across its enterprise solutions portfolio.
Monzo Bank Ltd., a UK-based digital banking pioneer, has reported a dramatic surge in pre-tax profit for the last fiscal year. Earnings before tax reached 60.4 million GBP (81.8 million USD) for the period ending March, quadrupling the previous figure of 15.4 million GBP from the earlier 13 months. Revenue also demonstrated resilient momentum, jumping to 1.2 billion GBP from 880 million GBP.
BP Plc $BP faces a transformative decision as it explores options for its Castrol business, fueled by mounting acquisition interest from global energy groups and leading private equity funds. Sources close to the matter indicate that BP has circulated early-stage materials to targeted parties, including key industry players like Reliance Industries Ltd. $RELIANCE.NS and major financial sponsors such as Apollo Global Management Inc. $APO and Lone Star Funds. Investment groups Brookfield Asset Management Ltd. $BAM and Stonepeak Partners have also received information dossiers, highlighting the scope of market appetite for Castrol’s established business.
The modem chip market is witnessing intensified competition as Apple accelerates its pursuit of domestic alternatives to long-standing industry leader Qualcomm. Recent findings commissioned by Qualcomm reveal the persistent performance edge held by its modem technology, particularly in complex metropolitan environments.
JBS SA $JBSS3.SA, one of the world's dominant meat producers, has paved the way for a long-anticipated US stock market debut. Following years of planning and public scrutiny, the company's comprehensive reorganization plan won approval from minority shareholders at a convening in São Paulo. This move eliminates the principal hurdle delaying the dual listing on the New York Stock Exchange, a process that prompted heated debates within environmental circles.
