GMT EIGHT - OPPORTUNITIES IN CHINA

The "Big Tobacco Moment" of social media has arrived: Meta (META.US) lost the lawsuit in New Mexico and was ordered to pay a compensation fund of $567 million.

Meta (META.US) has been ordered to pay $567 million to a compensation fund in New Mexico as part of a public nuisance case and one of the many lawsuits the company is facing due to allegations that its applications have caused harm.

Commodity futures closed in the morning session.

Polycrystalline silicon has risen continuously by 5.03%, Shanghai crude oil has risen continuously by 4.92%, ethylene glycol has risen continuously by 4.69%, butadiene rubber has risen continuously by 3.68%, fuel oil has risen continuously by 3.45%, low sulfur fuel oil has risen continuously by 3.32%, coke has risen continuously by 3.22%, asphalt has risen continuously by 3.16%, bottle flakes have risen continuously by 3.15%, and soybean No. 1 has risen continuously by 2.91%.

The Hong Kong interbank offered rate continues to decline, with the one-month HIBOR dropping 1.375 basis points to 2.61%.

On August 7, the Hong Kong dollar interbank offered rate continued to decline, with the one-month interbank rate related to mortgages reported at 2.61327%, down 1.375 basis points.

The polysilicon main contract has risen by 5% during the day, currently quoted at 37,780.00 yuan.

When exchange rates become a geopolitical tool: The US and Japan join forces to "weaponize" the yen, forcing the market to rewrite its pricing formula.

The unprecedented joint intervention actions taken by the United States and Japan to support the yen may profoundly impact the future behavior patterns of the market.

Nearly a hundred billion dollars in intervention can only buy a week of respite? The results of the joint intervention by the U.S. and Japan have shrunk by nearly half, with the yen again approaching the 160 mark.

The yen has retraced nearly half of its intervention gains before the end of this week, heightening traders' speculation that authorities may intervene in the market again. On Friday morning, the yen hovered around 158.45 against the dollar, far below the strong position of 155.23 reached on Monday.

AI-driven demand for network services accelerates, and cybersecurity company Cloudflare (NET.US) raises its full-year profit forecast.

The profit forecast released by the cybersecurity company Cloudflare (NET.US) this year surpassed Wall Street's estimates, indicating that the demand for online services continues to accelerate in the context of the rapid proliferation of artificial intelligence.

AI has not only failed to replace traditional roles, but has instead become a catalyst! Atlassian (TEAM.US) saw a staggering 28% increase in revenue, with record-breaking large orders and over a million monthly active users boosting its stock price.

Atlassian has dispelled the cloud of "AI replacement" that hung over this collaboration software developer with an impressive financial report.

China's central bank increases its gold reserves in Hong Kong to boost the development of the Hong Kong gold trading center.

According to reports citing sources, the People's Bank of China has increased its gold reserves in Hong Kong in recent months, a move seen as an important step in supporting Hong Kong's development as a major gold trading center.

The Hong Kong Insurance Authority: The requirement for taxation on overseas investment income from the Mainland has always existed, and the market should not overinterpret it.

The Hong Kong Insurance Authority pointed out that the requirement for Chinese residents to declare and pay taxes on overseas investment income has always existed, and the market need not overinterpret or speculate on this matter.

Record-breaking earnings season for the U.S. stock market: S&P 500 constituent stocks saw a 45% increase in EPS, with half of that coming from investment gains and one-third from AI infrastructure.

Stocks related to AI infrastructure accounted for approximately one-third of the overall EPS growth of the S&P 500, further highlighting the high concentration of profit growth.

A-share Opening Express | Shanghai Composite Index Slightly Opens Lower while Shenzhen Component Index Rises, Communication Components Lead the Gains

On August 7, the Shanghai Composite Index opened down 0.10% at 3896.49 points, the Shenzhen Component Index opened up 0.30% at 14152.78 points, and the ChiNext Index opened up 0.62% at 3537.44 points. The Sci-Tech Innovation 50 Index opened down 0.23% at 1697.37 points.

Challenging Apple! OpenAI's first AI hardware unveiled: the smart speaker market welcomes an 'AI-native' disruptor.

A highly anticipated new device from OpenAI will feature a unique appearance and include movable parts that can grant it personality, with a price possibly exceeding $300.

The eight giants of photovoltaic silicon materials have signed an initiative: sales must not be below cost price.

According to reporters from the signing enterprises, on the evening of August 6, just one week after the Market Supervision Administration's price compliance guidance for the photovoltaic industry on July 31, the eight major domestic polysilicon companies jointly signed an anti-involution "Initiative" in Shanghai. The eight companies collectively account for more than 90% of the effective polysilicon production capacity in the country, including four publicly listed companies: Tongwei Co., Xiexin Technology, Daqo Energy, and New Industry Technology, as well as Asia Silicon Co., Xinjiang Dongfang Hope New Energy Co., Qinghai Lihau Qingneng Co., and Xinjiang Gonnis Energy Technology Co. The enterprises jointly pledged: all sales prices of photovoltaic products must not be lower than the corresponding costs calculated based on the industry standard "General Principles for Cost Accounting in the Photovoltaic Industry." Sales below the full cost price must be immediately stopped and corrected, and they will consciously accept supervision and inspection from market regulatory departments at all levels. The enterprises will strengthen mutual supervision, and upon discovering any illegal acts of selling below cost, they will promptly report to and inform the industry association and the Market Supervision Administration. In addition, the enterprises commit to strictly implement the new energy consumption standards and proactively eliminate high energy-consuming backward production capacity.

The sound of artillery in the Strait of Hormuz has pushed Brent crude oil back to $83! The risk premium in energy corridors is rising again, and bullish oil traders are reclaiming pricing power.

Reports indicate that Iran has attacked "hostile targets" in the Strait of Hormuz, leading to a continued rise in oil prices. Tehran is attempting to prohibit U.S. vessels from entering this important waterway and also to ban Israeli ships from the strait through an agreement reached with Oman.

The ChiNext Index rose by 1.02%, currently at 3551.393 points; the Shanghai Composite Index fell by 0.18%, currently at 3893.252 points; the Shenzhen Component Index rose by 0.61%, currently at 14196.560 points.

Encountering a cold employment wave in the scorching summer heat? The U.S. labor market in July is expected to continue its weakness, and the "low hiring and low layoffs" pattern may conceal hidden concerns.

As the U.S. Department of Labor is set to release the July non-farm payroll report on Friday, market attention is once again focused on this labor market, which has shown a strange resilience amid tightening policies and geopolitical upheaval.

Brokerage Morning Meeting Highlights | Cross-border E-commerce Prospects Improve, Leading Sellers May Experience Business Reversal

CITIC Construction Investment believes that AI is accelerating the reshaping of traditional pharmaceutical R&D paradigms; China International Capital Corporation believes that the cross-border e-commerce environment is improving, and leading sellers may experience an operational reversal; CITIC Securities believes that AI has become an important driver of economic growth in the United States.

A hundred billion dollars in liberation cannot crush the followers of Musk! SpaceX (SPCX.US) stock price crosses the supply test, and smart money uses options to indicate the "bottom-fishing moment."

SpaceX's stock price passed a key test on Thursday, and now professional traders are betting that a bottom is forming.

Trump signs order: A 15% tariff will be imposed on imported polysilicon along with a minimum price limit. Domestic CECEP Solar Energy manufacturers' stock prices soar in response.

U.S. President Trump has ordered new tariffs on imported polysilicon used for semiconductors and solar panels, as well as establishing a price floor.

A | Sudden bad news! The U.S. imposes tariffs on polysilicon, and U.S. storage giant shares plummet after earnings report.

Trump announces the imposition of tariffs on polysilicon and its derivatives.

The Nikkei 225 index opened this morning at 65,746.13 points, up 0.10%.

The global tourism boom and the dual engines of the World Cup have led Airbnb, Inc. Class A (ABNB.US) to deliver its "strongest performance in recent years," with an upgraded AI strategy becoming a key asset for the next phase.

Thanks to the ongoing global tourism boom, Airbnb has reported impressive results. The company's revenue in the second quarter exceeded market expectations, and it raised its full-year performance outlook for the second time this year, which significantly boosted its stock price in after-hours trading.

As the countdown begins for the $22 billion acquisition by Fox, Roku (ROKU.US) experiences explosive growth! Q2 net profit skyrockets over 15 times, with both advertising and subscriptions increasing by more than 25%.

This performance report is the first financial report released by Fox Corporation since announcing the acquisition of Roku for $22 billion in mid-June. The deal is expected to be completed in the first half of 2027.

Hong Kong Stock Concept Tracking | Strict Control of Copper and Cobalt Exports in Congo (DRC) Reshapes Global Supply Pattern: Tight Spot Supply Difficult to Ease, Q3 Cobalt Price Upward Window Opens (including Concept Stocks)

Considering that the Democratic Republic of the Congo supplies about 70% of the world's cobalt and is the second-largest copper mining resource country globally, any policy changes are a key variable in reshaping the global supply chain.

Federal Reserve's Musalem: Beware of High Inflation Solidifying, Monetary Policy Must Maintain Substantial Restraint

President of the St. Louis Fed, James Bullard, stated that policymakers cannot afford to endure higher inflation while waiting for the possibility of strong productivity growth, given that the inflation rate is above the Federal Reserve's 2% target.

AI and tariffs reshaping pricing logic Why does the record-high "Copper Doctor" no longer indicate the warmth or coldness of the economy?

On Thursday, international copper prices once again set a new historical record, but this round of price increase is not a signal of an accelerating global economic expansiononce regarded as a reliable indicator of global economic health, "Dr. Copper" is becoming increasingly difficult to interpret.

Iran and Oman have reached an agreement to ban American and Israeli ships from passing through the Strait of Hormuz. Iranian media reports that Iran has targeted enemy positions near the strait.

The newly revealed details of the navigation agreement for the Strait of Hormuz that Iran and Oman intend to sign show that Iran seeks to maintain control over the strait.

HK Bull/Bear Outstanding Qty Ratio(52:48) | August 7

As of August 7, the latest bull-bear ratio of the Hang Seng Index is 52:48.

WTI crude oil has risen 1% today and is currently priced at $78.09 per barrel.

AMD (AMD.US) acquires AI inference chip startup Taalas to enhance its data center product matrix.

AMD announced that it has reached an agreement to acquire the AI inference chip startup Taalas, based in Toronto, Canada, further strengthening its competitiveness in the field of inference chips and enhancing its data center AI product matrix.

Overnight US stocks | The Dow ended a five-day winning streak, Western Digital Corporation (WDC.US) fell 13%, and crude oil strengthened as the market focuses on the non-farm payroll report.

As of the close, the Dow Jones Industrial Average fell 464.02 points, a decrease of 0.85%, ending at 53,885.10 points; the Nasdaq Composite dropped 15.09 points, down 0.06%, closing at 26,348.35 points; and the S&P 500 index declined by 13.53 points, a 0.18% decrease, finishing at 7,710.02 points.

The 30-year mortgage rate in the United States has risen to its highest level in nearly a year, putting ongoing pressure on housing demand.

U.S. mortgage rates have risen for the fifth consecutive week, reaching the highest level of the year.

Ahead of the non-farm payroll data release, the demand for hedging against fluctuations in the U.S. dollar is increasing. Waller downplayed forward guidance, which has heightened the importance of economic data.

As the U.S. July nonfarm payroll report is about to be released, traders are intensifying their hedging against the volatility risks of the dollar.

U.S. stock market closing: The three major indices fell collectively.

The Dow Jones Industrial Average fell by 0.85%, the S&P 500 index dropped by 0.18%, and the Nasdaq decreased by 0.04%. AppLovin plummeted by 19.66%, Datadog dropped by 19.03%, Epam Systems fell by 15.33%, and Axon Enterprise declined by 14.28%. In terms of the "Seven Sisters": Microsoft rose by 2.51%, Apple increased by 0.49%, Meta Platforms gained 0.15%, Amazon fell by 0.13%, Nvidia decreased by 0.23%, Tesla dropped by 0.63%, and Google declined by 0.91%.

US Stock Market Move | Cardiovascular pharmaceutical company Braveheart Bio (BRVE.US) debuts on the U.S. stock market, with its stock price rising over 75% after opening.

As of the press release, the stock has risen over 75%, trading at $31.405.

IMF Vice President: Japan's economy is experiencing a long-term structural recovery, supporting the Bank of Japan in continuing to advance the normalization of monetary policy.

Dan Katz, the first deputy managing director of the International Monetary Fund, stated that the Japanese economy is undergoing a "profound and long-term transformation," and the economic recovery provides space for the Bank of Japan to continue advancing monetary policy normalization.

The initial release of approximately $100 billion worth of stocks did not trigger a wave of sell-offs. SpaceX (SPCX.US) shares experienced slight fluctuations, while market sentiment remains relatively bearish.

The first batch of SpaceX's approximately $100 billion in restricted shares officially became unrestricted on Thursday. However, the market reacted relatively calmly, as investors absorbed the impact of the significant increase in circulating shares while also beginning to pay attention to future arrangements for larger-scale unlockings in the coming rounds.

Has the Fed left the market to tighten financial conditions on its behalf? Analysis suggests that Waller's downplaying of forward guidance may weaken the precision of policy.

Federal Reserve Chairman Waller hopes to reduce forward guidance and rely more on changes in market interest rates to help curb inflation. However, analysts believe that while this move may enhance the market's ability to price autonomously, it could weaken the precision of monetary policy, increase market volatility, and raise the uncertainty of future policy adjustments.

A-shares Evening Hotspots | 150.8 yuan/share! Yushu Technology's Benchmarking Changxin, a single subscription may earn over 300,000.

On August 6, Yushu Technology announced the issuance announcement for its Sci-Tech Innovation Board listing, confirming the issue price to be 150.80 yuan per share.

U.S. second-quarter productivity growth exceeded expectations, and unit labor costs were lower than anticipated, easing inflation pressures.

Data released by the U.S. Bureau of Labor Statistics on Thursday showed that labor productivity in the United States increased at a pace that exceeded market expectations in the second quarter.

US Stock Market Move | ZAI LAB (ZLAB.US) surged over 12%, with Q2 product revenue increasing by 11% quarter-on-quarter.

On Thursday, Zai Lab Inc. (ZLAB.US) surged over 12%, reaching $20.68.

US Stock Market Move | Albemarle Corporation (ALB.US) gained over 6% as strong lithium demand led to Q2 performance exceeding expectations.

On Thursday, Albemarle Corporation (ALB.US) rose more than 6%, reaching $126.21.

US Stock Market Move | Storage chip concept stocks plummeted collectively, with SanDisk (SNDK.US) falling over 11%.

On Thursday, storage chip concept stocks plummeted collectively, with Western Digital (WDC.US) dropping over 18% and SanDisk (SNDK.US) falling more than 11%.

Trump has frequently called Walsh, adding further evidence of his attempts to intervene in the Federal Reserve's intentions.

According to informed sources, U.S. President Trump has been regularly speaking by phone with Kevin Warsh since his appointment as Chairman of the Federal Reserve, marking the latest sign of Trump's attempt to exert greater influence over the central bank.

SanDisk's stock plummeted 14%, with a market value evaporating by $25 billion.

The Dow opened up 0.14%, the Nasdaq fell 0.36%, and the S&P 500 declined 0.13%. Notable tech stocks included Intel, which dropped 2.81%, AMD falling 2.14%, and Tesla down 1.4%. The Nasdaq Golden Dragon China Index fell 0.29%, with Baidu down 2.03% and Alibaba decreasing by 1.36%.

After the AI bond sell-off wave, a "stress test" is coming! It is reported that Alphabet Inc. Class C (GOOGL.US) plans to issue an additional $25 billion in bonds, and the markets absorption capacity is facing a major test.

Alphabet plans to raise up to $25 billion through its latest bond issuance.

FOMO-induced panic buying has triggered a surge in bullish options for the S&P, leading to a remarkable emergence of "one-way order flow" in the market.

Traders' enthusiasm for betting on further gains in the S&P 500 index continues to risethis benchmark stock index, which has been overshadowed for months by the more volatile Nasdaq 100 index, is now once again enjoying a frenzy of interest in the options market.

The U.S. job market remains resilient! Last week's initial jobless claims stayed at a low level as the market focuses on the July non-farm payroll report.

The number of initial jobless claims in the United States remained essentially unchanged last week, staying below 200,000 for the third consecutive week, further highlighting the resilience of the American labor market.

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