GMT EIGHT - OPPORTUNITIES IN CHINA

The US and Iran exchange tough signals, peaceful negotiations still have no progress, the situation in the Middle East continues to escalate, pushing up oil prices.

The United States and Iran have continued to send strong signals recently, with both sides showing no intention to return to the negotiating table. The Middle East conflict has continued to escalate into the second week, and concerns about further deterioration of the regional situation in the market are escalating.

US Stock Market Move | Stock prices continued to rise during the trading day! NVIDIA Corporation (NVDA.US) increased by nearly 3%.

On Wednesday, Nvidia (NVDA.US) continued to rise during trading hours, with a gain of nearly 3% to $213.45 at the time of publication.

30-year US Treasury bond yields hits longest "5% record" since financial crisis, market re-evaluating US debt risk.

The yield on US 30-year Treasury bonds has been running above 5% continuously, the longest period since the eve of the 2007 global financial crisis, reflecting ongoing concerns in the market about the expanding US fiscal deficit and inflation resilience.

OpenAI plans to invest over $30 billion in building an AI data center campus in Georgia, ramping up its global computing power layout.

In order to meet the growing demand for artificial intelligence software, OpenAI plans to build a large AI data center park near Savannah, Georgia, in the United States. The total investment for the project is expected to exceed 30 billion US dollars, further expanding the global AI infrastructure layout.

SpaceX is planning a major expansion of its Texas data center or the construction of a large AI computing power base.

SpaceX is exploring significantly expanding its data center layout in Texas, including at least one large data center, to further expand its AI computing power infrastructure.

A-shares evening hot spots | Another batch of companies unveil their earnings! A-share stock king's net profit in the first half of the year increased by more than 9 times.

Lianxun Instruments announced that it expects the net profit attributable to shareholders of the listed company for the first half of 2026 to be between 510 million and 580 million yuan, an increase of 802%-926% year-on-year.

US Stock Market Move | Cloud computing service provider concept stocks rise, Cerebras Systems (CBRS.US) up over 7%.

Cloud computing service provider concept stocks continue to rise.

US Stock Market Move | Dell Technologies, Inc. Class C (DELL.US) rose more than 9% on strong demand for AI servers.

On Wednesday, Dell Technologies (DELL.US) rose over 9%, closing at $443.62.

US Stock Market Move | Stock price continues to show strength! General Motors Company (GM.US) rose more than 5%.

On Wednesday, General Motors (GM.US) rose more than 5%, reaching $83.64.

DOBOT (02432) recommends the issuance of A shares and listing on the Shenzhen Stock Exchange's Growth Enterprise Board has been approved by the Shenzhen Stock Exchange Listing Committee.

The announcement of Yuezjiang (02432) stated that the 45th listing review meeting of the Shenzhen Stock Exchange Listing Committee for the year 2026 was held on July 22, 2026. According to the review results of the meeting, the company meets the conditions for issuance, listing, and information disclosure requirements. Therefore, the company's proposal for A-share issuance and listing on the ChiNext board of the Shenzhen Stock Exchange has been approved by the Shenzhen Stock Exchange Listing Committee.

US Stock Market Move | Super Micro Computer, Inc. (SMCI.US) surged more than 18% with gross profit margin in the fourth quarter far exceeding expectations.

On Wednesday, Super Micro Computer (SMCI.US) surged by over 18%, closing at $30.24.

AMD (AMD.US) steadily vying for the AI chip market! After teaming up with Microsoft Corporation to expand their cooperation, they have also secured a multi-billion dollar deal with Anthropic.

AMD and Anthropic announced on Wednesday that they have reached a chip and investment cooperation agreement worth billions of dollars.

US stock market opening: three major stock indices all declined

The Dow fell 0.12%, the S&P 500 fell 0.27%, and the Nasdaq fell 0.53%. Taike Electronics fell 6.01%, GEV fell 4.71%, Carvana Co. fell 3.92%, SanDisk fell 3.49%, Northern Trust Corporation fell 3.18%, and VRT fell 3.16%. As for the "Seven Sisters": Apple rose 0.10%, Google rose 0.10%, Meta Platforms fell 0.28%, Microsoft fell 0.48%, Tesla fell 0.49%, Amazon fell 0.54%, and Nvidia fell 0.72%.

Increase in AI power orders difficult to withstand headwinds! GE Vernova (GEV.US) Q2 profits lower than expected, tariff costs and wind power losses restrain prospects.

GE Vernova's second quarter profits fell short of expectations and are expected to face tariff impacts as high as $200 million.

Market news: Samsung has launched a new foldable phone which focuses on entertainment features to compete with the upcoming release from Apple.

AI computing power chain is in high prosperity and validated! Wedbush: Super Micro Computer, Inc. (SMCI.US) gross profit margin "off the charts" is good news for NVIDIA Corporation and Dell Technologies, Inc. Class C.

Super Micro Computer (SMCI.US) reported a significantly higher gross margin in the fourth quarter, which is also good news for Dell (DELL.US), Hewlett Packard Enterprise (HPE.US), and Nvidia (NVDA.US) in the same industry.

Multiple overseas tech giants are increasing their investment in data center businesses. OpenAI plans to spend over $30 billion to build a new data center and raise its cloud spending forecast to $750 billion. SpaceX is considering expanding its data center business in Texas. Microsoft is once again ramping up its AI layout in Europe and has signed a "multi-billion dollar" data center cooperation agreement with Mistral. Anthropic will begin purchasing up to 2 gigawatts of AMD's latest generation chips in the first half of 2027.

AI Market Welcomes Alphabet Inc. Class C (GOOGL.US) Financial Report Examination! Cloud business growth and capital expenditure guidance become focus.

With the rapidly rising investment scale in the field of artificial intelligence (AI), investors are looking forward to Google's upcoming financial report to demonstrate strong growth in its cloud computing business, proving that the company's significant investment in the AI field is yielding clear returns.

Hong Kong stock "pricing power" changes hands? Wall Street returns, a revolution in the Hong Kong stock market investment banking landscape.

In conclusion, the Hong Kong stock market is undergoing a profound transformation driven by regulatory changes and global liquidity reshaping. The battle for pricing power is at the core of this transformation.

New Stock News | Zhenqu Technology Once Again Files with Hong Kong Stock Exchange as a Supplier of Electric Control Solutions.

According to the disclosure on the Hong Kong Stock Exchange on July 22nd, Zenxin Technology (Shanghai) Co., Ltd. (referred to as Zenxin Technology) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC Securities and Guotai Junan Securities as joint sponsors.

Alan Au: Hong Kong is a reliable partner for Bank Negara Malaysia to explore further collaboration on topics such as the gold market, tokenization, renminbi business, and Islamic bonds.

Recently, Hong Kong Financial Secretary Paul Chan met with Malaysian government officials and industry representatives to discuss the potential for cooperation in the financial and gold markets.

Joby Aviation (JOBY.US) teams up with Virgin Atlantic to launch air taxi services in the UK.

Joby Aviation (JOBY.US) finally reached a cooperation agreement with Virgin Atlantic on Wednesday.

AT&T(T.US) reported better-than-expected earnings and growth in wireless users in the second quarter, delivering a strong performance despite competition from SpaceX casting a shadow.

AT&T announced that its Q2 earnings and mobile user growth exceeded expectations.

New stock news | Zhenqu Technology submits application to Hong Kong Stock Exchange again.

According to the disclosure by the Hong Kong Stock Exchange on July 22, Zhenqu Technology (Shanghai) Co., Ltd. (referred to as Zhenqu Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC Securities and Guotai Junan Securities as joint sponsors.

Selected A-share announcements | Semiight Instruments (688808.SH) with a net profit increase of over 9 times in the first half of the year.

Lianxun Instruments disclosed performance forecasts, stating that the company's net profit attributable to shareholders of the listed company is expected to be between 510 million and 580 million yuan in the first half of 2026, an increase of 801.96% to 925.75% compared to the same period last year.

Guangxi Institute held a seminar to celebrate the third anniversary of the listing of lithium carbonate futures and options, as well as the opening of specific varieties to the public.

On July 21, the Guangzhou Futures Exchange held a seminar to mark the third anniversary of the listing of lithium carbonate futures and options, as well as the opening of specific varieties to the outside. The discussion focused on topics such as the effectiveness of the variety's operation and its service to the real economy, further deepening market ecology construction and the internationalization of the variety. Representatives from 19 leading lithium battery industry companies, futures companies, overseas intermediaries, and futures margin deposit banks attended the meeting. Senior officials from the Guangzhou Futures Exchange and the Guangdong Securities Regulatory Bureau were also present. During the seminar, participants shared their experiences in using lithium carbonate futures and options for hedging, basis trading, and options trading to manage risks. They believe that the market for lithium carbonate futures has been stable over the past three years, with close linkage between futures and spot prices, high industry participation and recognition. They see it as an important tool for the lithium battery industry chain to lock in procurement costs and stabilize business operations. The opening of lithium carbonate futures and options to the outside world will enrich cross-border trade risk management tools and provide better support for enhancing the global pricing influence of China's lithium battery industry. Participants also made suggestions on contract rules, delivery management, market cultivation, industry services, risk control, and international cooperation. In the next step, the Guangzhou Futures Exchange will adhere to the fundamental purpose of serving the real economy, deepen the construction of the lithium carbonate futures market, strengthen market cultivation and industry services, effectively fulfill frontline regulatory responsibilities, steadily promote high-level opening to the outside world, and continuously improve the quality of market operation.

Preview of US Stock Market | Three major stock index futures fell in unison, oil prices rose, Google and Tesla announced their earnings after the bell.

On July 22 (Wednesday) before the market opening, pre-market trading for the three major US stock indexes is down.

In June, the Bond Connect Northbound trading reached 864.9 billion RMB. The trading of policy financial bonds and government bonds was the most active.

In June 2026, the Bond Connect Northbound trading volume was 864.9 billion RMB, with a daily average trading volume of 41.2 billion RMB. Trading of policy financial bonds and government bonds was the most active, accounting for 56% and 23% of the monthly trading volume respectively.

IDC: Infrastructure spending on AI is expected to grow by 56% to $497 billion in 2026. Arm architecture replaces x86 as the mainstream computing platform.

Rack-level GPU servers based on Arm architecture are replacing x86 processors to become the mainstream acceleration computing platform.

The central bank: The average daily trading volume of the two markets in June was 3.1144 trillion yuan, a decrease of 2.1% compared to the previous month.

On July 22, the People's Bank of China released the financial market operation situation for June 2026.

Macau: The Composite Consumer Price Index in June increased by 1.24% year-on-year.

According to data from the Statistics and Census Bureau of Macau, the Comprehensive Consumer Price Index rose by 1.24% year-on-year in June 2026, but fell by 0.15% month-on-month.

Wang Yi met with Rubio during the ASEAN Foreign Ministers' Meeting.

According to CGTN, on the afternoon of July 22, Wang Yi, member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, met with US Secretary of State Pompeo during the ASEAN Foreign Ministers' Meeting in Manila, Philippines. From July 19 to 24, the 59th ASEAN Foreign Ministers' Meeting series was held in Manila, Philippines. According to a statement from the US State Department website on July 17, Pompeo went to Manila from July 19 to 23 to attend the ASEAN Foreign Ministers' Meeting series. Therefore, whether the foreign ministers of China and the US can take advantage of the ASEAN Foreign Ministers' Meeting series to hold bilateral talks has also become a focus of attention. During the routine press conference of the Ministry of Foreign Affairs on July 20, a reporter asked about Pompeo's statement that Chinese President Xi Jinping's planned visit to the US in September is still proceeding as scheduled. Does the Chinese Ministry of Foreign Affairs believe that this visit is still proceeding as planned? Spokesperson Lin Jian stated that the interaction between leaders plays an irreplaceable strategic leading role in China-US relations. Both sides have maintained communication on the arrangement of the interaction between the leaders this year. The foreign ministers of China and the US spoke by phone on June 30. Wang Yi pointed out that China and the US need to expand the list of cooperation, create more positive agendas, and at the same time shorten the list of issues and control various risks and hazards. The Taiwan issue is the tip of the iceberg, and it is hoped that the US will handle matters related to Taiwan with great caution. Both sides agreed that the phone call between the foreign ministers of the two countries was positive and constructive, agreeing to jointly implement the important consensus reached by the two leaders and continue to maintain communication in a flexible manner.

HKEX optimizes the weekly stock index options exercise price intervals and related market maker arrangements, involving weekly Hang Seng Index options, etc.

The relevant rule revisions will take effect on July 27, 2026 (Monday).

HKEX: The expected implementation of the arrangement to pay the dual-counted trading stamp duty in Renminbi is scheduled for mid-2027.

The Hong Kong Stock Exchange announced that, according to the "Revised Regulations," the stamp duty generated from dual-counter securities trading in RMB counters will be calculated and paid in RMB.

Bearish forces are looming and stock prices are starting to weaken on a technical level! Q2 financial report has become a crucial turning point for Tesla, Inc. (TSLA.US).

S3 Partners pointed out that Tesla is facing one of the most pessimistic market environments in recent years as its technical indicators continue to weaken and short sellers are increasing their bets on the electric car manufacturer's stock ahead of the second quarter earnings report.

The Trump administration is investing $5 billion to launch the "AI + Research" plan, with drug research and advanced materials at the forefront of policy opportunities.

The United States will allocate $5 billion for research in AI-driven healthcare and construction.

Spokesperson of the Ministry of Commerce answers questions from reporters on the issue of France's "anti-fast fashion" law.

On July 22, the spokesperson of the Ministry of Commerce answered questions from reporters regarding the "anti-fast fashion" law in France.

Spokesperson of the Ministry of Commerce answers questions from reporters regarding the relevant issues of the "anti-fast fashion" law in France.

Question: Recently, France has implemented the "Anti-Fast Fashion" law, which includes a series of restrictive requirements for the fast fashion apparel industry and platforms. French government officials have explicitly stated that the primary targets of the legislation are cross-border e-commerce platforms such as Shein, Romwe, and AliExpress. What is the Ministry of Commerce's response to this? China has noted that the recent implementation of the "Anti-Fast Fashion" law in France imposes discriminatory restrictions on Chinese cross-border e-commerce platforms, severely distorting fair competition through legislative means. China expresses serious concerns about this. China believes that the law, under the guise of setting "environmental" and "sustainable" standards, is actually implementing exclusionary measures and may violate the non-discrimination principle of the World Trade Organization. It has already constituted a trade barrier against China, seriously deviating from France's proclaimed principles of fair competition and free trade. This not only harms the legitimate rights and interests of Chinese enterprises but also affects the immediate interests of French consumers. We urge France to abide by the rules of the World Trade Organization, immediately correct the discriminatory practices mentioned above, and provide a fair, transparent, and non-discriminatory business environment for Chinese enterprises. China will closely monitor the formulation and implementation of relevant legislation and will take necessary measures to counteract any infringement on the legitimate rights and interests of Chinese companies.

People's Bank of China: In June 2026, the average daily volume of interbank lending transactions was 3,292.2 billion yuan, a decrease of 21.9% year-on-year; the average daily volume of bond repurchase transactions in the interbank market was 62,000 billion yuan, a decrease of 21.0% year-on-year.

People's Bank of China: In June 2026, the average daily turnover of interbank borrowing was 3,292.2 billion yuan, a decrease of 21.9% year-on-year; the average daily turnover of bond repurchase in the interbank market was 62 trillion yuan, a decrease of 21.0% year-on-year. At the end of June 2026, the outstanding balance of interbank borrowing was 0.9 trillion yuan, and the outstanding balance of bond repurchase in the interbank market was 10.9 trillion yuan. In June 2026, the average weighted interest rate for overnight repo of treasury bonds between deposit-taking financial institutions was 1.38%, an increase of 11 basis points month-on-month; the weighted average interest rate for DR007 was 1.45%, an increase of 10 basis points month-on-month; the weighted average interest rate for overnight repo in the interbank market was 1.42%, an increase of 10 basis points month-on-month. In June 2026, the average daily spread between DR001 and the People's Bank of China's open market 7-day reverse repo operation rate was -1 basis points, and the average daily spread between R001 and DR001 was 4 basis points.

The United States plans to impose new tariffs before Friday, continuing the expiring 10% temporary global tariffs.

President Donald Trump is preparing to impose new tariffs on products from dozens of economies before Friday.

Northbound funds | Northbound trading saw a net buying of 7.517 billion yuan, Northbound funds increased investment in Tracker Fund of Hong Kong (02800) by nearly 6.2 billion Hong Kong dollars, and sold Alibaba and Tencent throughout the day.

On July 22, the Hong Kong stock market saw a net purchase of 7.517 billion Hong Kong dollars by Northbound investors. Of this, the net purchase through the Shanghai-Hong Kong Stock Connect was 3.838 billion Hong Kong dollars, and the net purchase through the Shenzhen-Hong Kong Stock Connect was 3.679 billion Hong Kong dollars.

Today's southbound capital had net purchases of HKD 7.517 billion.

In terms of Hong Kong Stock Connect (Shanghai), Yingfu Fund and Huahong Hongli received net purchases of HK $3.698 billion and HK $0.722 billion respectively; Alibaba-W had the highest net selling amount at HK $1.374 billion; in terms of Hong Kong Stock Connect (Shenzhen), Yingfu Fund and SMIC received net purchases of HK $2.484 billion and HK $0.772 billion respectively; Tencent Holdings had the highest net selling amount at HK $3.401 billion.

The price of Brent crude oil futures broke through $95 per barrel for the first time since June 11. WTI crude oil futures are now up 4.54% to $88.16 per barrel.

Release of the "15th Five-Year Plan" for Building a Strong Sports Nation, with the goal of breaking the industry scale by 2030 to over 7 trillion yuan.

With the approval of the State Council, the General Administration of Sport today released the "Thirteenth Five-Year Plan for Building a Strong Sports Nation." This is the first national special plan with the theme of "building a strong sports nation," which systematically deploys the acceleration of building a strong sports nation and promoting the high-quality development of sports during the "Thirteenth Five-Year Plan" period. The Plan proposes that by 2030, the overall quality and efficiency of sports development will be significantly improved, the comprehensive value and diverse functions will be fully displayed, sports will become a symbol of the great rejuvenation of the Chinese nation with a more solid foundation, the per capita sports venue area will reach about 4 square meters, the proportion of people regularly participating in sports activities will reach about 40%, the excellent rate of national physical fitness will reach 31.1%, the number of world champions will rank among the forefront, and the total scale of the sports industry will exceed 7 trillion yuan.

Market "false joy"! SK Hynix (SKHY.US) refutes rumors of acquiring Intel Corporation (INTC.US) Ohio fab, the billion-dollar merger is off.

SK Hynix denies reports of acquiring Intel's Ohio fab; Intel reiterates commitment to Ohio campus.

The continued weakness of the yen exacerbates the risk of inflation rising, and there are rumors that the Bank of Japan is adopting a more open attitude towards raising interest rates faster.

According to informed sources, due to the continuous weakness of the Japanese yen further increasing the upward risk of inflation, officials from the Bank of Japan are open to raising interest rates at a faster pace than generally expected by economists.

Ministry of Agriculture and Rural Affairs: Adhere to and improve the policy of minimum grain purchase price to ensure the basic income of farmers growing grain.

On July 22, the Ministry of Agriculture and Rural Affairs issued a response to Proposal No. 5111 of the Fourth Session of the Fourteenth National People's Congress.

Chairman Wu Qing of the China Securities Regulatory Commission: Resolutely safeguard the stable and healthy operation of the capital market and steadily expand high-level institutional opening.

Wu Qing stated that the China Securities Regulatory Commission will adhere to the principle of seeking progress while maintaining stability, resolutely uphold the smooth and healthy operation of the capital market, steadily expand high-level institutional openness, and continuously improve the convenience of foreign investment in the capital market.

Jefferies Financial Group Inc.: Databricks valuation soaring drives revaluation of AI data platform, Snowflake (SNOW.US) expected to rise another 14%

Data warehouse software giant Snowflake (SNOW.US) may see a "revaluation" of its stock price.

The encrypted mining company is transforming into a "computing power landlord"! The AI infrastructure newcomer Ionic Digital (IOND.US) is expected to debut on Nasdaq next week with a valuation of 2 billion US dollars.

Ionic Digita, a company focused on AI and high performance computing (HPC) digital infrastructure, has announced that its registration statement has become effective and is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "IOND" on July 28th.

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2 m ago

Trump: Even though your current expenses have slightly increased, many prices have fallen significantly.

4 m ago

International oil prices rose on the 22nd.

4 m ago

Trump: Oil prices will plummet significantly.

8 m ago

The US dollar index, which measures the US dollar against six major currencies, fell by 0.05% on the day to close at 101.125 in the foreign exchange market. At the end of the New York foreign exchange market, 1 euro exchanged for 1.1411 US dollars, higher than the previous trading day's 1.1403 US dollars; 1 pound exchanged for 1.3373 US dollars, lower than the previous trading day's 1.3381 US dollars. 1 US dollar exchanged for 163.13 Japanese yen, lower than the previous trading day's 163.18 Japanese yen; 1 US dollar exchanged for 0.8146 Swiss francs, higher than the previous trading day's 0.8129 Swiss francs; 1 US dollar exchanged for 1.4085 Canadian dollars, lower than the previous trading day's 1.4107 Canadian dollars; 1 US dollar exchanged for 9.7014 Swedish krona, lower than the previous trading day's 9.7035 Swedish krona.

11 m ago

Pakistans Finance Minister: Welcome the proposal from the Export-Import Bank of the United States to establish a broader framework for cooperation, integrate various projects, and develop a list of long-term project reserves.

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