GMT EIGHT - OPPORTUNITIES IN CHINA

Alphabet (GOOGL.US) AI arms race "bet" accelerates! Unfulfilled purchase commitments soar to $811 billion, computing power expansion enters a new stage.

As of the end of June this year, the company's future procurement commitments that have been signed but not yet fulfilled reached $811 billion, an increase of nearly $500 billion from the end of March this year, highlighting the company's unprecedented speed in securing the resources needed for AI infrastructure.

US Stock Market Move | STMicroelectronics NV ADR RegS (STM.US) falls more than 17% with Q3 revenue guidance below expectations.

On Thursday, STMicroelectronics (STM.US) plummeted more than 17% to $54.16.

The European Central Bank may raise interest rates again in September, Lagarde warns of escalating inflation risks in the Middle East.

According to sources, European Central Bank officials are prepared to further raise interest rates in September unless there is a significant improvement in the inflation outlook for the eurozone.

US Stock Market Move | Lockheed Martin Corporation (LMT.US) rises more than 10% as Q2 performance exceeds expectations and raises full-year performance outlook.

On Thursday, Lockheed Martin (LMT.US) rose more than 10% to $567.55.

US Stock Market Move | Thunder God Technology (RTX.US) rose more than 7% as Q2 performance exceeded expectations and full-year guidance was revised upwards.

On Thursday, shares of Raytheon Technologies (RTX.US) rose more than 7%, reaching $209.76.

Tesla, Inc. (TSLA.US) shares plummeted more than 13% after earnings, Wall Street says AI investments dragged down profits and cash flow, Siasun Robot & Automation business becomes key to valuation.

Multiple Wall Street institutions believe that Tesla is entering a phase of major investment in artificial intelligence (AI) and robotics businesses. In the short term, profits may be under pressure, but factors like Robotaxi and Optimus humanoid robots will still be crucial in determining the company's long-term valuation.

Evening hot spots in A shares | CSRC speaks again! Comprehensive measures to fully maintain the stable operation of the market and enhance the resilience of the capital market.

The China Securities Regulatory Commission held a symposium on party building and regulatory work. The meeting pointed out that comprehensive measures are being taken to fully maintain the stable operation of the market and enhance the resilience of the capital market.

US Stock Market Move | Star Technology stocks fell across the board. Amazon.com, Inc. (AMZN.US) fell more than 4%.

On Thursday, popular technology stocks fell overall, with Tesla (TSLA.US) dropping more than 12%, Google (GOOGL.US) falling nearly 7%, and Amazon (AMZN.US) declining over 4%.

US Stock Market Move | Optical communication and cloud computing service provider concept stocks rise together. MaxLinear (MXL.US) surged over 7%.

US stocks of optical communication and cloud computing service providers concept stocks rise together.

US Stock Market Move | Alphabet Inc. Class C (GOOGL.US) fell more than 6% as a sharp increase in capital spending raised concerns in the market.

On Thursday, Google (GOOGL.US) fell more than 6%, closing at $320.16.

Alphabet Inc. Class C (GOOGL.US) stocks and bonds are both plummeting! AI spending fears are weighing down the stock price, with the "bond of the century" simultaneously dropping below face value by 90%.

The century bonds issued by Alphabet have now lost one-tenth of their face value.

The Philadelphia Semiconductor Index opened low and rose steadily, with semiconductor hardware stocks showing strong gains. SK Hynix rose more than 5%, Western Digital and Micron Technology rose 3%. ASML, Intel, and Broadcom also rose one after another.

US Stock Market Move | Tesla, Inc. (TSLA.US) fell more than 9% as Q2 net profit fell short of expectations and gross profit margin further declined.

On Thursday, Tesla (TSLA.US) fell more than 9%, closing at $337.38 per share.

The situation in the Middle East escalates and reignites inflation concerns! The European Central Bank remains unchanged as scheduled, September becoming a key window for rate hikes.

The European Central Bank on Thursday kept interest rates unchanged, waiting for further economic data to determine whether the upward pressure on prices caused by the Iran conflict requires further tightening of monetary policy.

Layoffs in enterprises are still limited! The number of initial jobless claims in the United States last week fell to a new low since 1969, but concerns about inflation heating up may solidify the hawkish stance of the Federal Reserve.

The number of initial jobless claims in the United States last week dropped to the lowest level since 1969, indicating that in a generally stable labor market environment, the scale of business layoffs remains relatively low.

Is US debt welcoming the best entry point in 20 years? BlackRock goes against the trend and sings praises: Fearless of rate hikes, high yields build "downfall resistance".

BlackRock suggests that the yields on US treasuries can provide a solid buffer against losses.

Brent crude oil rose 6.3% to hit $100 per barrel, reaching a new high since May 22nd; The US crude oil ETF rose over 5% in pre-market trading. In terms of news, the US claimed to have targeted Iranian coastal surveillance sites, while Iran claimed to have attacked a US military base.

Did all the currency traders switch to stocks? The trading volume of cryptocurrencies in South Korea has dropped sharply to about 1% of the stock trading volume.

Since the beginning of the year, the proportion of cryptocurrency trading volume in South Korea relative to the Kospi market has been continuously decreasing, dropping from 11.29% in January to around 2% in May.

Macau's "Oil and Gas Price Subsidy Program" has achieved its short-term relief goals and will end as scheduled on Saturday night.

The Macao SAR government announced that it has decided to end the two-month long "subsidy plan for diesel and gasoline prices" as scheduled on July 25, this Saturday, by midnight.

T-Mobile's Q2 financial report is a mixed bag, with a net increase in accounts declining by 13% compared to the same period last year, but still better than expected.

T-Mobile US (TMUS.US) second quarter financial report is a mixed bag of good and bad news.

High fuel costs have eroded profitability. American Airlines Group Inc.'s Q2 performance exceeded expectations but once again cut its full-year profit forecast.

Due to the ongoing high fuel prices caused by the Middle East war, American Airlines has lowered its profit guidance for 2026 for the second time this year, further hindering its efforts to narrow the performance gap with its two major competitors.

PDD Holdings Inc. Sponsored ADR Class A (PDD.US) "E-commerce Expansion in the West" Activates Ningxia Western Venture Industrial Ecology, Bringing More Possibilities for Commercial Inclusion with "Digital Sky Road"

Pinduoduo has proven one thing in four years: while advancing business deep, it can also become a force to narrow the urban-rural gap and activate the edge economy.

The European Central Bank stayed put as scheduled.

The European Central Bank will maintain the deposit facility rate at 2.25%, in line with market expectations, with the main refinancing rate and the marginal lending rate remaining unchanged at 2.40% and 2.65% respectively.

A-share announcement highlights | Changxin Technology (688825.SH): The first public offering of shares will be listed on the Sci-Tech Board on July 27.

Changxin Technology announced that the RMB ordinary shares issued by the company will be listed on the Science and Technology Innovation Board on July 27th.

Fuel costs are "eating up" the price hike bonus, Southwest Airlines Co. (LUV.US) third quarter profit outlook falls short of expectations, revises full-year guidance.

Due to the increase in fuel costs, Southwest Airlines' performance guidance for the third quarter is below expectations.

Preview of US Stock Market | Three major stock index futures fell together, oil prices surged, Google and Tesla fell after their earnings, and Intel released its financial report after the market closed.

On July 23 (Thursday) before the US stock market opened, futures for the three major US stock indexes fell together.

Chen Haolian: The Ghanaian delegation will visit Hong Kong again within this year to further discuss cooperation in the gold market and other financial areas.

He stated that both parties also agreed to arrange for a Ghanaian delegation to visit Hong Kong again later this year to have further discussions on cooperation in the gold market and other financial areas.

Google disclosed in its 10-Q quarterly report that their stake in SpaceX is valued at $94 billion after SpaceX went public.

Zhu Hexin, Vice President of the People's Bank of China and Director of the State Administration of Foreign Exchange, attended the 31st Central Bank Governor's Meeting organized by the East Asia and Pacific Central Banks.

Zhu Hexin, Deputy Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange, attended the 31st Central Bank Governors' Meeting of East Asia and the Pacific on July 23. The central bank governors in attendance exchanged views on global macroeconomic conditions, policy responses in the context of economic uncertainty, and the development of artificial intelligence.

Red Fruit Short Drama will launch special governance to rectify the "high-frequency AI face".

On July 22nd, Hongguo Short Drama released a "Notice on Standardizing the Creation of AI Drama Characters", specifying creation standards from the two dimensions of character differentiation and copyright compliance. The aim is to help AI drama creators better prevent material violations and reduce the frequency of using "high-frequency AI faces".

Houthi armed forces create chain reaction by attacking ships in the Red Sea. Asian crude oil buyers in talks with Saudi Aramco on alternative routes.

After the Houthi armed forces attacked the Red Sea oil tanker, at least two Asian crude oil buyers are in talks with Saudi Aramco about whether to change the transportation route and bypass Africa.

Blackstone Group (BX.N) reported a revenue of $5.04 billion in Q2 2026, compared to $3.712 billion in the same period last year.

Southern Power Grid: Firmly optimistic about the Chinese capital market and supports listed companies to carry out various types of market value management work in compliance with regulations.

Since the implementation of the new "Nine Articles of the State", China's capital market has shown a stable and positive development trend overall. State Grid Corporation of China firmly believes in the long-term development prospects of the Chinese capital market, resolutely implements the State-owned Assets Supervision and Administration Commission of the State Council's deployment to improve the quality of listed companies, fulfills the responsibilities of central enterprises, actively stabilizes market expectations, and safeguards the legitimate rights and interests of investors. The company fully recognizes the industry value and growth potential of four controlling listed companies of State Grid Corporation of China: State Grid Energy Storage, State Grid Energy, State Grid Digital, and State Grid Technology, with each enterprise having outstanding advantages in their respective fields and stable operation. The company will continue to empower the development of listed platforms, support listed companies in carrying out various market value management work in compliance with regulations, and help the capital market to operate smoothly and healthily.

Countdown for the 13th test flight of the starship! The key flight is pulling on SpaceX's space ambitions and trillion-dollar valuation.

After abandoning the launch attempt last week, SpaceX will try again on Thursday to conduct a crucial test of its Starship rocket. This event will expose investors to the risks associated with the company's tumultuous development cycle, and further increase the attention on this key milestone.

The Securities and Futures Commission of Hong Kong and the Securities Commission of Malaysia jointly organized a industry roundtable meeting to exchange views on mutual recognition arrangements for funds and simplification of the dual primary listing framework.

The Hong Kong Securities and Futures Commission and the Malaysian Securities Commission jointly organized a roundtable meeting for the industry to exchange views on mutual recognition arrangements for funds and streamlining the framework for dual primary listings.

PBOC: Will conduct 500 billion yuan in MLF operations on July 24th.

In order to maintain the liquidity of the banking system, on July 24, 2026, the People's Bank of China will conduct a 500 billion yuan MLF operation with a fixed quantity, interest rate bidding, and multiple price bidding methods, with a term of 1 year.

In July, 197 game licenses were approved, with a total of 1147 licenses issued so far this year.

The National News and Publishing Administration today released the approval information of domestic online games for July 2026, with a total of 197 games receiving licenses, including 193 domestic online games and 4 imported online games. Major products include NetEase's "Fantasy Westward Journey: Continuing the Frontiers", Lingyoufang's "Zero Blade of Shadows", Huya's "This Island Has Fantasy Beasts", Xinghui Entertainment's "Guarding the Sky Dome", Boyaa Technology's "Where are the Monsters Running", Shulong Technology's "Tower of Eternity: Classic", and Xindong Company's "Ragnarok: Guardian of Eternal Love 2". So far this year, the National News and Publishing Administration has issued a total of 1147 game licenses, including 1110 domestic online games and 37 imported online games, with the issuance of licenses maintaining a regular monthly rhythm.

People's Bank of China: In order to maintain the liquidity of the banking system, on July 24, 2026, the People's Bank of China will conduct a 500 billion yuan Medium-term Lending Facility (MLF) operation with a fixed quantity and interest rate through multiple price bids for a one-year term.

Northbound funds | Northbound trading net sold 4.226 billion, Northbound trading increased position in KNOWLEDGE ATLAS (02513) by nearly 500 million Hong Kong dollar, and once again sold AI hardware stocks.

On July 23, in the Hong Kong stock market, the net sell-off of Bei Shui was 4.226 billion Hong Kong dollars. Among them, the net sell-off of Hong Kong Stock Connect (Shanghai) was 1.885 billion Hong Kong dollars, and the net sell-off of Hong Kong Stock Connect (Shenzhen) was 2.341 billion Hong Kong dollars.

From water management to housing, "smart money" is borrowing political changes in British stocks and going crazy "searching for alpha".

A major change in the UK political scene has triggered a craze for hedge funds to "find alpha": short positions have increased fivefold in the first half of the year, with utilities and real estate construction becoming the main battleground for long and short positions.

The State Administration for Market Regulation deploys a special operation to enhance the anti-monopoly compliance abilities of enterprises overseas.

Recently, the State Administration for Market Regulation issued a notice, deploying a special action to enhance the anti-monopoly compliance capabilities of overseas enterprises.

Specialty chemical supplier Varsal Tech (VAT.US) plans to price its IPO at $5-6 per share, raising a total of $17 million.

Varsal Tech announced the terms of its initial public offering (IPO) on Wednesday.

SK Hynix's (SKHY.US) ADR conversion limit has been reached! The most attractive arbitrage trading channel in the world is closed.

Unless existing SK Hynix ADR holders first convert their ADR traded in the US back to the Korean-listed shares, thus making space within the limit, investors will not be able to convert SK Hynix's Korean-listed shares into ADR.

The Communist Party of China Central Committee and the State Council issued the "Opinions on Strengthening Social Work in the New Era".

Recently, the Communist Party of China Central Committee and the State Council issued the "Opinions on Strengthening Social Work in the New Era", making arrangements for strengthening social work in the new era.

Ministry of Commerce: In the first half of the year, the profit of key commodity markets increased by 9.6% year-on-year.

The head of the Ministry of Commerce's Department of Circulation Development talked about the development of China's wholesale and retail industry from January to June 2026.

SK Hynix's US stocks rise more than 6% in pre-trading.

SK hynix pre-market rose more than 6%, now trading at $175.3.

Beneath the calm surface of the US stock market lies a crisis! Geopolitical conflicts raise the probability of the Federal Reserve raising interest rates. Analysts sound the alarm for an economic recession.

Seeking Alpha analyst Daniel Jones warns that a possible economic recession may be imminent in the United States and urges investors to remain cautious.

Barclays declares that the "golden age" of technology IPO has arrived: Rare overlapping cycles of AI innovation in multiple fields, with market reception exceeding the peak of the 2021 listing boom.

Barclays executives stated that the IPO market in the technology industry is entering a "golden age", with companies in artificial intelligence, electric infrastructure, and other fields going public.

Xu Zhengyu: The growth opportunities between Malaysia and Hong Kong are very significant.

Strengthening the connectivity between the markets of Hong Kong and Malaysia, including enhancing cooperation between financial regulatory authorities, will be a key strategic focus in attracting global funds to converge in Asia.

Gold and silver rebounds may be difficult to sustain! Geopolitical and macroeconomic background have not experienced substantial changes, making it difficult to return to historical highs.

Analysts say that gold and silver prices may still face a difficult road in returning to the historic highs reached earlier this year.

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OpenAI: ChatGPT's voice functionality is now available on desktop applications.

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The Tesla stock fell by 15%, hitting an intraday low point.

23 m ago

Kuwait: The air defense system is currently responding to unmanned drone threats.

23 m ago

Kuwaiti official news agency: Alarm sounds heard inside Kuwait.

27 m ago

Canadian Prime Minister Justin Trudeau: Some negotiations regarding the potential agreement of the United States-Mexico-Canada Agreement will continue until the end of the year.

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