2-year (TS) main contract unchanged; 5-year (TF) main contract down 0.01%; 10-year (T) main contract down 0.03%; 30-year (TL) main contract up 0.04%.

Midday in Hong Kong, the HSI rose 1.86% and the Hang Seng Tech Index gained 2.69%; first-half turnover reached HKD 188.435 bln. Sector leaders: optical communications, biotechnology and autos. Weakness: memory/storage, coal and mobile gaming. Notable movers: CK Hutchison (00001.HK), CSPC PHARMA (01093.HK) and 01347.HK climbed over 7%; 09863.HK rose nearly 7%; WuXi AppTec (02359.HK) added over 6%; Lenovo Group (00992.HK) and Xiaomi (01810.HK) were up more than 4%. Worst performers: MINIMAX-W (00100.HK) down over 12%, 02513.HK down over 11%, CATL (03750.HK) slipped about 2%.

Modular shipbuilding entails high equipment capex and is normally used for large offshore vessels. A domestic builder says inland electric cargo-ship orders have surged after retrofitting smart equipment and moving to full-process modular construction, shortening build cycles by more than 50% versus traditional methods. The company reports 108 confirmed domestic and overseas orders and over 400 intent orders. Twenty-four berths are running at full capacity; the smart-manufacturing workshop plans to start 108 ships and deliver 82 in 2025.