GMT EIGHT - OPPORTUNITIES IN CHINA

Hong Kong Property Market: Slower Second-Hand Transactions Expected, Number of Registrations for Second-Hand Properties in 30 Estates in Tseung Kwan O Expected to Drop Below 200 in July.

Wang Pindi, Director of the Hong Kong Property Research Department, stated that in June, second-hand transactions have slowed down due to adjustments in the Hong Kong stock market and narrowing negotiation space for second-hand properties.

US consumer confidence exceeded expectations and boosted the market: Gold prices turned higher on Friday, stabilizing above the $4000 level.

After the latest US economic data showed improved consumer confidence and eased short-term inflation expectations, gold futures reversed their decline and rose on Friday.

The situation continues to escalate! The US military conducted consecutive airstrikes on Iran for the seventh night in a row, and it was revealed that they will deploy dozens of refueling aircraft to the region.

According to reports from multiple media outlets, including CCTV News, the US military launched a new round of strikes against Iran at 3 pm local time on Friday afternoon, marking the seventh consecutive night of airstrikes by the US military.

The conflict between the US and Iran has once again sparked the oil market: Brent crude rose nearly 16% in the week, and the risk of closing the Strait of Hormuz triggered a frenzy of "risk premiums."

Due to the escalating conflict between the US and Iran, crude oil and refined oil futures rose sharply on Friday, recording a strong increase for the whole week.

Has the AI bull market ended? The market is filled with doubts.

Technology giants have impressive performance, active capital expenditure plans, but their stock prices remain stagnantthis strange deviation has left Wall Street puzzled. Nomura Securities warns that the end of AI prosperity has evolved from three scenarios to four intertwined paths, making the cost-benefit balance increasingly unclear. The sharp decline in semiconductors and the reversal in software indicate that funds are silently repricing, while the absence of interest rate bets in the bond market so far suggests that the pricing of the end of AI is far from complete.

Brent crude oil breaks through $86 in intraday trading, up over 2.9% for the day.

Muxi Corporation releases new super node product Xijin S600

On July 18th, during the 2026 World Artificial Intelligence Conference, Muxi Holdings officially released the new generation AI super node product, Xijing S600. As a system-level computing power product designed for large model training, inference, and intelligent computing center construction, Xijing S600 is optimized for high-density deployment, high-speed interconnection, and software-hardware synergy. It can achieve high-speed full interconnection of 64 GPUs in a single cabinet and support flexible expansion to a cluster of thousands of cards, providing a domestically produced computing power base with performance, efficiency, and reliability for AI infrastructure construction.

The anti-monopoly situation has changed dramatically: The US Department of Justice under the Trump administration plans to "settle out of court" and enter into secret settlement negotiations with Apple Inc. (AAPL.US)

Apple (AAPL.US) is engaging in early discussions with the U.S. Department of Justice for a settlement regarding a lawsuit scheduled for 2024.

"Old Deng" counterattacks! Apple Inc. (AAPL.US) briefly surpasses NVIDIA Corporation (NVDA.US) to become the world's highest market value company.

When Nvidia's AI new model Kimi K3 caused a single-day drop of about 2%, Apple quietly surpassed it with its "non-burning money AI logic", briefly reclaiming the title of the world's largest market value. With capital expenditures accounting for only 2.5% of sales, the debut of the new version of Siri, and a rare upgrade to a buy rating by HSBC... multiple catalysts have combined to make Apple the most unexpected safe-haven winner in the AI wave.

"Burning money" frenzy comes with a cost: Oracle Corporation (ORCL.US) CDS surges to historic highs, bonds are just one step away from junk status!

The credit risk index of ABC company reached a record high in oracle bone inscriptions, and the market's concerns over the company's aggressive cash consumption and future profit capabilities of artificial intelligence investments have intensified.

The flames of war between the US and Iran reignite, hedge funds aggressively increase their positions in crude oil, setting the fastest pace in ten years.

The conflict between the US and Iran escalated suddenly, leading hedge funds to rapidly push up Brent crude oil prices at the fastest pace in nearly a decade. Net long positions surged by over 75,000 contracts in a single week, marking the largest increase since 2016. The attack and blockade of the Strait of Hormuz, combined with damage to Russian oil refineries, have resulted in a dual tightening of global fuel supplies, causing refining profits to soar to historic highs.

Silicon Valley is dissatisfied with the "sudden" export controls, the Trump administration plans to establish an "AI version of FINRA" to alleviate industry concerns.

According to sources familiar with the matter, the Trump administration is considering establishing an independent regulatory agency to review the safety of artificial intelligence models and to involve industry experts in the evaluation process.

SpaceX plans to provide AI computing power to the Pentagon, with the contract size potentially reaching several billion dollars.

SpaceX is currently negotiating with the US Department of Defense to provide data center computing power of up to several billion dollars for running AI models.

HK Bull/Bear Outstanding Qty Ratio(51:49) | July 18th

As of July 18th, the latest bull-bear ratio of the Hang Seng Index is 51:49.

Storage chip concept stocks experienced a cooling-off in the market. The Philadelphia Semiconductor Index fell into a technical bear market. Analysts believe that market expectations have clearly outpaced reality.

After experiencing a sharp rise driven by the storage chip market, the American semiconductor sector has seen a significant pullback.

Trump's conflict of interest controversy escalates, America's digital asset market faces obstacles in promoting the "Clear Act."

The process of advancing the "Clarity Act" for the digital asset market in the United States Senate encountered resistance this week.

Meta (META.US) plans to lease AI computing power to Anthropic, seeking commercial returns through a capital expenditure of billions of dollars.

The artificial intelligence startup Anthropic is currently in preliminary discussions with Meta, planning to lease the latter's artificial intelligence computing resources in order to meet the growing demand for training and inference of large models.

Overnight US stocks | The three major indexs fell this week, with the Philadelphia Semiconductor Index dropping 10%, the largest weekly drop since April last year.

As of the close, the Dow Jones fell 406.55 points, a decrease of 0.77%, to 52,146.42 points; the Nasdaq fell 361.70 points, a decrease of 1.40%, to 25,520.24 points; the S&P 500 index fell 76.08 points, a decrease of 1.01%, to 7,457.69 points.

Inflation cooling weakens expectation of rate hike in July, US treasury bonds rose slightly this week.

The U.S. Treasury market rose slightly this week as cooling inflation data boosted market sentiment, offsetting the pressure from the sharp rebound in international oil prices. Traders consequently significantly reduced bets on the Federal Reserve raising rates in July.

Military conflicts in the Middle East continue, international oil prices rose over 4% on the 17th.

Due to continued military conflicts in the Middle East, international crude oil futures prices fluctuated and rose on the 17th, with an increase of over 4% at the close. The price of the main contract for New York crude oil futures reached $80 per barrel for the first time in the past month. At the close of trading that day, the price of light crude oil futures for delivery in August on the New York Mercantile Exchange rose by $3.54 to settle at $82.49 per barrel, an increase of 4.48%; the price of London Brent crude oil futures for delivery in September rose by $3.87 to settle at $88.10 per barrel, an increase of 4.59%.

FTSE A50 futures continued to rise by 0.68% in overnight trading.

FTSE A50 futures continued to rise in overnight trading, closing up 0.68% at 14430 points.

Launch delays and lifting of restrictions add pressure as SpaceX's stock (SPCX.US) plunges, causing its market value to evaporate by trillions of dollars from its peak.

SpaceX stock price suffered a sharp drop on Friday, with its market value evaporating more than $1 trillion from its historical high.

US Stock Market Move | Customer churn concerns continue to suppress the stock price of Synopsys, Inc. (SNPS.US), with a significant drop of nearly 9%.

On Friday, NewSi Technology (SNPS.US) fell nearly 9% in early trading, hitting a low not seen since April 2025, now trading at $381.98.

Hawkish signals reemerge! Cleveland Fed President Harker says inflation remains a major concern.

Cleveland Federal Reserve President Loretta Mester said that in the context of resilient consumer spending and still low unemployment rates, the persistent high inflation is currently her main concern.

A-share evening hot topic | Margin trading concentrated in forced liquidation, securities firms batch liquidation? Clarification is here! No large-scale liquidation occurred

Margin call concentration? Many securities firms responded: No large-scale liquidation occurred.

The cost of hedging against US dollar fluctuations drops to the lowest level of the year, traders play down geopolitical shocks.

The hedging costs for US Dollar volatility have dropped to the lowest level this year, indicating that despite uncertainty surrounding the Federal Reserve's policy outlook and escalating tensions in the Middle East, traders currently believe that the likelihood of a significant catalyst that could disrupt major global reserve currencies in the short term is low.

US Stock Market Move | Semiconductor sector continues adjustment, Intel Corporation (INTC.US) falls over 3%

On Friday, the semiconductor sector continued to adjust.

US Stock Market Move | Q2 financial report sparks concerns about demand for medical technology. Intuitive Surgical, Inc. (ISRG.US) plunges more than 11% in early trading.

On Friday, Intuitive Surgical Inc (ISRG.US) plunged more than 11% in early trading, hitting a new low for the year, and is now trading at $357.13.

U.S. July consumer confidence rises to five-month high, consumers still concerned about rising inflation.

Boosted by falling gasoline prices, consumer confidence in the United States rose to its highest level in five months in early July.

US Stock Market Move | The first flight after the IPO is postponed, SpaceX (SPCX.US) opens with a more than 4% drop.

On Friday, SpaceX (SPCX.US) opened with a drop of over 4%, causing the stock price to plummet by 38% from its peak, leading to a market value evaporating by over a trillion dollars.

US Stock Market Move | Storage chip concept stocks rise and fall differently. SK Hynix (SKHY.US) once rose more than 6%.

The concept stocks of storage chips experienced huge fluctuations after the market opened.

US Stock Market Move | The world's largest market capitalization company changed hands! NVIDIA Corporation (NVDA.US) fell more than 3%, and its market value was surpassed by Apple Inc. (AAPL.US)

On Friday, with AI technology stocks continuing to be sold off, Apple (AAPL.US) surpassed Nvidia (NVDA.US) in market value, returning to the global number one spot after three months.

SK Hynix's US stock price recovered by 4% from the previous decline, currently up 0.64% to $153.285 per share, with a total market value of $1.12 trillion.

The Nasdaq 100 index fell to an intraday low, dropping 2.7%.

US Stock Market Move | Q3 guidance lower than expected, Netflix (NFLX.US) opens down more than 10%

On Friday, Netflix (NFLX.US) opened with a sharp drop of over 10%, marking the largest decline since April 2022, now trading at $66.19.

Philadelphia Semiconductor Index fell over 5%, AMD dropped more than 7%, Intel fell more than 6%, and TSMC dropped over 5%.

The ultimate battle between bulls and bears will take place on July 30th! HSBC leads the way in being bullish, can Apple Inc. (AAPL.US) leverage the benefits of edge AI to impact a market value of 5 trillion?

HSBC recently raised Apple's rating to "buy," reflecting the growing optimism on Wall Street about the market position of the iPhone manufacturer.

South Korea's AI trading shock triggers a global style switch! Amid the capital outflow, "quantitative safe trading" returns to Wall Street.

As people's concerns about the artificial intelligence industry intensify, investors are seeking to invest in financially stable companies. Over the past two months, there has been an increase in the investment style of buying high-quality stocks. On Thursday, a sell-off of chip stocks led to a decline in the Nasdaq 100 index, while Barclays Bank's long-short high-quality stock portfolio rose as a result.

Space exploration technology company's stock price plummeted by 38% from its peak, and its market value may evaporate by 1 trillion dollars.

US new home construction in June jumps 19%: Multi-family home construction surges 76% to "hold the fort," while single-family home construction remains stagnant in the cold.

New housing starts in the United States jumped by 19% month-on-month in June, but the strong performance was solely driven by volatile apartment projects. Single-family home starts and building permits continued to decline, highlighting that high interest rates, high inventory, and the uncertainty brought by conflicts in the Middle East are persistently suppressing residential investment.

US stocks opened: the three major stock indexes fell together.

The Dow fell 1.00%, the S&P 500 fell 1.20%, and the Nasdaq fell 1.80%. Netflix dropped 11.39%, Intuitive Surgical fell 10.39%, Kengton Electronics dropped 6.50%, and Comfort Systems USA fell 6.27%. As for the "Big Seven": Apple fell 0.12%, Microsoft fell 1.79%, Amazon fell 1.80%, Google fell 2.00%, Nvidia fell 2.29%, Tesla fell 2.45%, and Meta Platforms fell 2.97%.

New Stock News | Baoji Yuanhe submits application to the Hong Kong Stock Exchange, ranking first in Hong Kong's traditional Chinese medicine market.

According to the disclosure by the Hong Kong Stock Exchange on July 17, Baoji Yuenhe (TCM) Limited (referred to as Baoji Yuenhe) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huafu Jianye Corporate Finance Limited as the exclusive sponsor.

The Nasdaq 100 index futures fell further by 2%, reaching 28638.78 points.

Ministry of Industry and Information Technology: Deploying work related to supervision and inspection of automobile production enterprises and products.

On July 17th, the Equipment Industry Department of the Ministry of Industry and Information Technology organized a symposium for key automobile manufacturing enterprises.

Brent crude rose 3% intraday and is now trading at $86.76 per barrel.

After the stock price evaporated by three quarters, Circle (CRCL.US) faced another blow: Visa, BlackRock, Inc. ganged up to besiege, Mizuho pessimistic to $50.

Since its initial public offering (IPO) last year and reaching its peak at one point, Circle's stock price has now evaporated by over three quarters. With more stablecoins flooding the market, analysts warn that the worst may yet to come.

Why is the current drop in Bitcoin much more dangerous than the "2022 winter": there are no black swans, only "sell sell sell"

The current decline in cryptocurrency is different from the "event-driven cold winter" triggered by exchanges going bankrupt, leverage liquidation, or project fraud in the past, and is closer to a slow and profound ebb in demand.

New Stock News | Bohe Yuanhe submits applications to Hong Kong Stock Exchange

According to the disclosure on July 17th by the Hong Kong Stock Exchange, Baoji Yuen Ho (TCM) Limited (referred to as Baoji Yuen Ho) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huafu Jianye Corporate Finance as the exclusive sponsor.

AI monster "sucks blood" from traditional software stocks! IBM historic crash, the most brutal budget cleansing in the tech world is unfolding.

IBM's sales warning issued this week, which fell far short of expectations, highlights the widening gap between winners in the artificial intelligence race and other participants in the tech industry.

Preview of US Stock Market | The three major stock index futures all fell, the panic index skyrocketed, and Federal Reserve officials intensified their hawkish stance.

On July 17th (Friday), before the stock market opening, the futures of the three major US stock indexes all fell.

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The off-market silver broke through $56 per ounce, with an intraday increase of 0.5%.

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Shangtang Technology releases a new model, RiRiXin U1 Pro, which competes with GPT-Image 2.

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