【HEADLINE SUMMARY】1. U.S. stocks wavered lower on Monday (10th), pressured by geopolitical tensions in the Strait of Hormuz and hawkish comments from Federal Reserve officials, leading to a more cautious market sentiment. All three major U.S. indices closed slightly lower, with the Philadelphia Semiconductor Index plunging 2.9%. SpaceX (US.SPCX) rose 4.2% against the trend. The Dow Jones Industrial Average fell 60.95 points, or 0.11%, closing at 53,975.98; the S&P 500 dropped 4.53 points, or 0.06%, to 7,753.11; the Nasdaq Composite declined 85.26 points, or 0.32%, to 26,605.36. The China Golden Dragon Index rose by 109 points. Japanese markets were closed for a public holiday.

2. After Iran demanded compensation from the U.S., President Trump countered by demanding Tehran pay reparations for victims of roadside bombs and other conflicts, as well as families of protesters killed by Iran over the past 50 years. With both sides hardening their positions, hopes for reopening the Strait of Hormuz diminished, sending crude oil futures sharply higher overnight.

3. The Japanese yen fell about 1% against the U.S. dollar on Monday, erasing half of the gains made after the U.S.-Japan joint intervention. Japan is on a public holiday today, and some investors fear reduced liquidity could create conditions for authorities to intervene again.

4. The Cleveland Federal Reserve Bank president stated that several rate hikes may be needed to bring inflation down to the 2% target.

5. China has announced imposing a 54.3% anti-dumping deposit on pecans imported from the U.S., adding friction to Sino-U.S. trade relations ahead of a planned summit between the two leaders in September.

6. The People's Bank of China issued the '15th Five-Year' reform and development plan, requiring the construction of a scientific and stable monetary policy system, improving the base money issuance mechanism and macro-prudential management system, strengthening financial support for consumption, and advancing RMB internationalization.

7. Hang Seng Index Company is soliciting market feedback on proposed revisions to the Hang Seng Tech Index calculation methodology, aiming to broaden the scope of tech themes, adjust constituent stock selection mechanisms, and increase the number of constituents. The revisions are expected to be announced by the end of September at the latest.

8. Nvidia is reportedly partnering with Wall Street giants including Apollo Global Management, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR to invest $500 billion in artificial intelligence infrastructure development.

9. U.S. chip giant Intel announced plans to raise $15 billion through an underwritten public offering of common stock to capitalize on the AI data center boom. The news triggered market concerns over shareholder dilution, sending shares tumbling as much as 5%, breaking below the $100 level.

10. According to The Information, Microsoft plans to officially launch its next-generation in-house AI accelerator chip, 'Maia 300,' as early as September this year and is currently negotiating with TSMC to secure capacity for delivering over 300,000 AI chips by 2027.

11. Unitree Technology's Shanghai STAR Market IPO has received over 5,500 times subscription from retail investors, issuing about 40.4 million shares at 150.8 yuan per share, raising approximately 6.1 billion yuan.

12. The UK's Financial Times, citing sources, reported that Shein's advisors are pitching the company's IPO to potential investors at a target valuation below $30 billion.


【STOCK HIGHLIGHTS】

Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522)AI infrastructure: Yangtze Optical Fibre & Cable (06869), Kingboard Laminate (01888), GDS Holdings (09698)
　- 　Reportedly, Nvidia will partner with Wall Street giants to invest $500 billion in AI infrastructure development

Oil majors: PetroChina (00857), CNOOC (00883), Sinopec (00386)
　- 　After Iran demanded compensation from the U.S., Trump demanded compensation from Iran; Brent crude rose to nearly $88 per barrel

Gold mining stocks: Zijin Mining (02899), Zhaojin Mining (01818)Retail gold stocks: Lao Feng Xiang Gold (06181), Chow Tai Sook (01929)
　- 　Spot gold price breaks above the $4,400 level

MiniMax (00100)
　- 　To be included in HKEX Tech 100 Index and HKEX Tech & US Tech 100 Index, effective from 13th this month

TVB Group (00511)
　- 　Plans to form a joint venture with Gaw Capital to provide computing power services to a tech firm, potentially receiving new share subscription from Gaw Capital

CSPC Pharmaceutical Group (01093)
　- 　Its monkeypox mRNA vaccine product has received FDA approval in the U.S. to initiate clinical trials

Qtech Digital Technology (01478)
　- 　July mobile camera module sales dropped 9.5% month-on-month, impacted by rising memory prices and weak demand

Ascletis Pharma (01672)
　- 　U.S. initiates two Phase I obesity treatment studies to evaluate safety and tolerability

Foxconn Industrial Internet (06088)
　- 　Mid-year profit rose 21% to $38.1 million, no dividend declared, AI hardware revenue surged 56%

China Xiyang Group (01907)
　- 　Expects mid-year net profit to increase by no less than 3.3 times, driven by higher average product prices

Shaanxi New Energy (01250)
　- 　Plans to invest RMB 1.23 billion to build a 212.5 MW wind power project in Shandong

China Hongqiao Group (01378)
　- 　To redeem senior unsecured notes early next month, with outstanding principal of $330 million

Global New Materials (06616)
　- 　Expects mid-year profit to turn into a loss of up to RMB 100 million, due to amortization and expenses from asset acquisitions

Hutchison Telecommunications (00215)
　- 　Mid-year net profit rose 83.3% to HK$11 million, dividend of 2.28 cents


【OIL & GOLD PRICES】

NYMEX crude oil down 0.61%, at $82.08/barrel

Brent crude up 5.18%, at $87.88/barrel

Spot gold up 0.27%, at $4,402.11/oz

Gold futures up 0.92%, at $4,460.32/oz