Nominal 
【HEADLINES】
1. U.S. President Trump stated that due to Middle Eastern countries, including Iran, facilitating the reopening of the Strait of Hormuz agreement, Washington agrees to postpone a new round of strikes on Iran, provided that an agreement is swiftly reached. Trump said the new round of Iran talks will begin on Monday afternoon. The easing of tensions in the Middle East caused Asian session crude oil futures to plunge sharply. In addition, major members of the Organization of the Petroleum Exporting Countries (OPEC+) agreed to increase daily production by 188,000 barrels starting September.
2. U.S. stocks extended gains on Friday (31st), with all three major indices closing higher and recording weekly gains. The Dow Jones closed up 276.97 points, or 0.53%, at 52,485.03; the S&P 500 rose 52.09 points, or 0.7%, to 7,489.72; the Nasdaq climbed 251.68 points, or 1%, to 25,373.85. The China Golden Dragon Index rose 95 points. The Nikkei opened at 63,710, unchanged.
3. With joint U.S.-Japan intervention, the yen rose to a two-and-a-half-month high against the dollar on Friday. Japanese authorities reportedly bought yen for two consecutive days, with intervention on Thursday (30th) estimated at around $52.8 billion. The New York Fed sold euros and bought yen on behalf of the U.S. Treasury. Both the U.S. and Japan stated they would毫不犹豫ly conduct further joint interventions.
4. It was reported that Fed Chair Walsh is considering reducing the frequency of the eight regular FOMC meetings per year.
5. The People's Bank of China held its second-half work meeting, pledging to comprehensively use and adjust monetary policy tools as appropriate to maintain ample liquidity. Compared to the January meeting, the statement did not mention guarding against exchange rate overshooting risks or cutting interest rates and reserve requirements.
6. The State Administration of Foreign Exchange held its second-half work meeting, requiring strengthened monitoring of cross-border capital flows and high-pressure crackdowns on illegal cross-border financial activities.
7. The State Council's executive meeting required timely planning and introduction of practical and effective incremental policies to effectively expand domestic demand, seize areas with great potential and strong driving force, and roll out a batch of impactful measures.
8. The four major U.S. tech giants—Alphabet (US.GOOG), Meta (US.META), Microsoft (US.MSFT), and Amazon (US.AMZN)—have committed to investing nearly $2.4 trillion over the coming years in AI infrastructure, indicating that AI infrastructure investment will continue to grow significantly.
9. It was reported that OpenAI's CEO demonstrated the new model series "Astra" in Washington last week, which will enhance the ability to complete time-consuming tasks, although the release date has not yet been clarified.
10. Hong Kong's GDP grew 4.3% year-on-year in the second quarter, lower than 5.9% in the first quarter, and contracted quarter-on-quarter for the first time in nearly four years. Financial Secretary Paul Chan said that due to continued strong demand for AI boosting exports, the 2026 economic growth forecast will be upgraded.
【STOCK HIGHLIGHTS】
Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522)AI large model stocks: Zhipu (02513), MiniMax (00100)
- Bloomberg statistics show Alphabet, Meta, Microsoft, and Amazon's combined commitments to AI infrastructure investment total about $2.4 trillion
BYD (01211)
- July sales of 420,000 units, up 22%; exports up 120%; year-to-date sales for first seven months still down over 10%
Geely Automobile (00175)
- July sales of 250,000 units, up 50%; exports surge 200%
NIO (09866)
- Deliveries of 36,000 units in July, up 71%; seven-month delivery volume up 68%
Li Auto (02015)
- Deliveries of 30,000 units in July, down nearly 1%; new vehicle deliveries exceed 220,000 units over seven months
Great Wall Motor (02333)
- July sales nearly 110,000 units, up 3.5%; overseas sales up 51%
Legend Holdings (03396)
- Expects net profit for the first half to increase by at least 1.86 times year-on-year to RMB 2 billion
GigaDevice (03986)
- Board approves share buyback of up to RMB 2 billion in A-shares, with price not exceeding RMB 750 per share
China Hongqiao (01378)
- A-share subsidiary Hongqiao Holding plans to issue new shares, raising up to RMB 12 billion
Three oil majors: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Washington agrees to postpone new round of strikes on Iran; Trump says new talks to begin soon
- Crude oil futures plunged in early Asian session
- OPEC+ major members agree to increase daily production by 188,000 barrels starting September
C&I Glass (00868)
- Mid-year profit nearly RMB 1.2 billion, up 17%; dividend of 15 HK cents, up 20%
C&I Energy (03868)
- Mid-year net profit down 28.9% to RMB 320 million; dividend reduced to 2.1 HK cents
Zhongchuang Zhiling (00564)
- Proposes to repurchase up to RMB 400 million in A-shares; amount raised from issuing convertible A-share bonds reduced by nearly 5%
Auntie Shanghai (02589)
- Mid-year profit RMB 320 million, up 58%, dividend of RMB 2; revenue up 42%
Haier Smart Home (06690)
- Spent RMB 430 million in July to repurchase 20.66 million A-shares
C&I Electric (2381)
- 70% stake transferred to Tianlong Mobile at 65% discount, triggering mandatory takeover; group plans to pay special dividend
【OIL & GOLD QUOTES】
NYMEX crude futures down 4.59%, at $80.78/barrel
Brent crude futures down 6.82%, at $83.97/barrel
Spot gold up 0.90%, at $4,078.89/oz
Gold futures up 0.63%, at $4,132.70/oz
1. U.S. President Trump stated that due to Middle Eastern countries, including Iran, facilitating the reopening of the Strait of Hormuz agreement, Washington agrees to postpone a new round of strikes on Iran, provided that an agreement is swiftly reached. Trump said the new round of Iran talks will begin on Monday afternoon. The easing of tensions in the Middle East caused Asian session crude oil futures to plunge sharply. In addition, major members of the Organization of the Petroleum Exporting Countries (OPEC+) agreed to increase daily production by 188,000 barrels starting September.
2. U.S. stocks extended gains on Friday (31st), with all three major indices closing higher and recording weekly gains. The Dow Jones closed up 276.97 points, or 0.53%, at 52,485.03; the S&P 500 rose 52.09 points, or 0.7%, to 7,489.72; the Nasdaq climbed 251.68 points, or 1%, to 25,373.85. The China Golden Dragon Index rose 95 points. The Nikkei opened at 63,710, unchanged.
3. With joint U.S.-Japan intervention, the yen rose to a two-and-a-half-month high against the dollar on Friday. Japanese authorities reportedly bought yen for two consecutive days, with intervention on Thursday (30th) estimated at around $52.8 billion. The New York Fed sold euros and bought yen on behalf of the U.S. Treasury. Both the U.S. and Japan stated they would毫不犹豫ly conduct further joint interventions.
4. It was reported that Fed Chair Walsh is considering reducing the frequency of the eight regular FOMC meetings per year.
5. The People's Bank of China held its second-half work meeting, pledging to comprehensively use and adjust monetary policy tools as appropriate to maintain ample liquidity. Compared to the January meeting, the statement did not mention guarding against exchange rate overshooting risks or cutting interest rates and reserve requirements.
6. The State Administration of Foreign Exchange held its second-half work meeting, requiring strengthened monitoring of cross-border capital flows and high-pressure crackdowns on illegal cross-border financial activities.
7. The State Council's executive meeting required timely planning and introduction of practical and effective incremental policies to effectively expand domestic demand, seize areas with great potential and strong driving force, and roll out a batch of impactful measures.
8. The four major U.S. tech giants—Alphabet (US.GOOG), Meta (US.META), Microsoft (US.MSFT), and Amazon (US.AMZN)—have committed to investing nearly $2.4 trillion over the coming years in AI infrastructure, indicating that AI infrastructure investment will continue to grow significantly.
9. It was reported that OpenAI's CEO demonstrated the new model series "Astra" in Washington last week, which will enhance the ability to complete time-consuming tasks, although the release date has not yet been clarified.
10. Hong Kong's GDP grew 4.3% year-on-year in the second quarter, lower than 5.9% in the first quarter, and contracted quarter-on-quarter for the first time in nearly four years. Financial Secretary Paul Chan said that due to continued strong demand for AI boosting exports, the 2026 economic growth forecast will be upgraded.
【STOCK HIGHLIGHTS】
Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522)AI large model stocks: Zhipu (02513), MiniMax (00100)
- Bloomberg statistics show Alphabet, Meta, Microsoft, and Amazon's combined commitments to AI infrastructure investment total about $2.4 trillion
BYD (01211)
- July sales of 420,000 units, up 22%; exports up 120%; year-to-date sales for first seven months still down over 10%
Geely Automobile (00175)
- July sales of 250,000 units, up 50%; exports surge 200%
NIO (09866)
- Deliveries of 36,000 units in July, up 71%; seven-month delivery volume up 68%
Li Auto (02015)
- Deliveries of 30,000 units in July, down nearly 1%; new vehicle deliveries exceed 220,000 units over seven months
Great Wall Motor (02333)
- July sales nearly 110,000 units, up 3.5%; overseas sales up 51%
Legend Holdings (03396)
- Expects net profit for the first half to increase by at least 1.86 times year-on-year to RMB 2 billion
GigaDevice (03986)
- Board approves share buyback of up to RMB 2 billion in A-shares, with price not exceeding RMB 750 per share
China Hongqiao (01378)
- A-share subsidiary Hongqiao Holding plans to issue new shares, raising up to RMB 12 billion
Three oil majors: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Washington agrees to postpone new round of strikes on Iran; Trump says new talks to begin soon
- Crude oil futures plunged in early Asian session
- OPEC+ major members agree to increase daily production by 188,000 barrels starting September
C&I Glass (00868)
- Mid-year profit nearly RMB 1.2 billion, up 17%; dividend of 15 HK cents, up 20%
C&I Energy (03868)
- Mid-year net profit down 28.9% to RMB 320 million; dividend reduced to 2.1 HK cents
Zhongchuang Zhiling (00564)
- Proposes to repurchase up to RMB 400 million in A-shares; amount raised from issuing convertible A-share bonds reduced by nearly 5%
Auntie Shanghai (02589)
- Mid-year profit RMB 320 million, up 58%, dividend of RMB 2; revenue up 42%
Haier Smart Home (06690)
- Spent RMB 430 million in July to repurchase 20.66 million A-shares
C&I Electric (2381)
- 70% stake transferred to Tianlong Mobile at 65% discount, triggering mandatory takeover; group plans to pay special dividend
【OIL & GOLD QUOTES】
NYMEX crude futures down 4.59%, at $80.78/barrel
Brent crude futures down 6.82%, at $83.97/barrel
Spot gold up 0.90%, at $4,078.89/oz
Gold futures up 0.63%, at $4,132.70/oz