GMT EIGHT - OPPORTUNITIES IN CHINA

NVIDIA Corporation (NVDA.US) AI "New Ace" is here! Vera Rubin has delivered to giants like OpenAI, the next round of computing power competition is now open

NVIDIA announced that computing systems based on the latest Vera Rubin architecture have been delivered to multiple large artificial intelligence companies and will soon be put into operation.

The biggest winner is not AI! Biotech has become the dark horse of US stock market IPOs, with an average return of 55%, far outperforming the overall market.

Improvements in the industry's fundamentals, active mergers and acquisitions by large pharmaceutical companies, and continued capital inflows are driving significant outperformance of biotechnology IPOs compared to the overall market, attracting more and more companies to accelerate their listing pace during the summer window.

US Stock Market Move | Tesla, Inc. (TSLA.US) rises more than 3%, the market expects a year-on-year increase of nearly 30% in Q2 earnings per share.

On Tuesday, Tesla (TSLA.US) rose more than 3%, reaching $382.70.

US Stock Market Move | The concept stocks of optical communication are generally rising, Applied Optoelectronics (AAOI.US) is up more than 10%.

On Tuesday, stocks in the optical communication sector rose across the board, with Applied Optoelectronics (AAOI.US) rising more than 10%.

Bank of America: Kimi K3 and other open-source large models are good for AI storage demand, reiterates "buy" rating on Micron (MU.US)

The latest research report from Bank of America points out that the release of new generation open-source large models including Kimi K3, such as the dark side of the moon in recent months, further strengthens its long-term bullish logic on the AI storage market and Micron Technology.

US Stock Market Move | Non-ferrous metal sector generally rose, Century Aluminum Company (CENX.US) rose more than 6%.

On Tuesday, the non-ferrous metals sector rose across the board, with Century Aluminum (CENX.US) gaining more than 6%.

US Stock Market Move | Bitcoin concept stocks rise, Coinbase (COIN.US) surges over 12%.

Bitcoin breaks through the 66,000 barrier, now up over 2.3% at $66,694.

A-share evening hot spots | Intensive symposiums held! CSRC speaks out: Enhancing the intrinsic stability of the market

On the afternoon of July 20 to 21, members of the Party committee of the China Securities Regulatory Commission held discussions separately, listening to opinions and suggestions from all aspects on promoting the stable and healthy development of the capital market.

US Stock Market Move | Stock price oversold rebound! SpaceX (SPCX.US) rose more than 5%.

On Tuesday, SpaceX (SPCX.US) rose more than 5%, reaching $126.21, experiencing an oversold rebound in stock prices after several consecutive days of decline.

US Stock Market Move | Cloud computing service provider concept stocks rise, NEBIUS (NBIS.US) rose more than 9%.

Cloud computing service providers remain active, and as of the time of writing, NEBIUS has risen by over 9%.

The curse of "good news is bad news" reappears! The Citigroup Economic Surprise Index breaks through 40, and the US stock market may face the law of "three weeks of decline, three months of recovery".

US stock market "good news is bad news" curse reappears: Citigroup's Economic Surprise Index soared to 50.3, and the S&P 500 may face a three-week period of pain.

Shandide's growth expanded to 10%

Sandisk stock rose by 10.02%, reaching $1530.385 per share, with a total market value of $226.6 billion.

US Stock Market Move | Chip stocks soar with SK Hynix (SKHY.US) rising over 9%

On Tuesday, chip stocks rallied, with SanDisk (SNDK.US) and SK Hynix (SKHY.US) jumping more than 9%.

US Stock Market Opening: Three Major Indexes All Rise

The Dow rose 0.43%, the S&P 500 rose 0.64%, the Nasdaq rose 0.95%. Teradata rose 9.40%, Western Digital rose 8.97%, SanDisk rose 8.66%, Coherent Corp rose 8.56%, and 3M rose 7.93%. As for the "Seven Sisters": Nvidia rose 2.36%, Tesla rose 1.27%, Meta Platforms rose 0.82%, Apple fell 0.54%, Amazon fell 0.61%, Google fell 0.91%, and Microsoft fell 1.16%.

Market volatility + Tesla's public listing attracts retail investors! Trading frenzy boosts Charles Schwab Corp (SCHW.US) Q2 earnings beyond expectations.

Due to geopolitical uncertainty causing market volatility, coupled with retail investors continuously entering and exiting the market, top US online broker Jiaxin Finance announced better-than-expected second-quarter performance.

Tech giants Rush into the AI Health Market! Samsung Introduces AI Health Assistant to Compete Directly with Apple and Google

Nowadays, more and more technology companies are using chatbots to provide personalized health analysis for users, and Samsung has officially entered this arena.

Domestic futures night trading session opens

Lithium carbonate fell continuously by 4.22%, palladium rose continuously by 3.98%, silver rose continuously by 3.07%, platinum rose continuously by 2.98%, and fuel oil rose continuously by 2.73%.

General Motors Company (GM.US) shows resilience during the transition period: the "strategic contraction" in electric vehicles led to a 31% decrease in net profit in Q2, and once again raised its full-year profit guidance for the year.

General Motors' Q2 net profit plunged by 31%, but it raised its full-year guidance against the trend: the profits from North American gasoline vehicles engine are interwoven with the "ice and fire" of the $11 billion electric vehicle "divestiture".

North American drilling activity picking up is unable to withstand the impact of GEO Group Inc in the Middle East. Halliburton's Q2 operating profit declined by 6% year-on-year, falling short of expectations.

Halliburton (HAL.US) announced its second quarter financial report.

"Reckitt Benckiser (LLY.US) weight loss drug advertisements face legal action! Accused by Novo Nordisk A/S Sponsored ADR Class B (NVO.US) of 'misleading marketing'"

Nuo and Nord have filed a lawsuit against the United States Federal Court, accusing Lilly of misleading advertising for their popular weight loss drug Zepbound and diabetes injection medication Mounjaro.

A-share Announcement Highlights | Explosive Interim Report Performance, leading chip company Yuanjie Semiconductor Technology (688498.SH) expects a 1305% increase in net profit.

Yuanjie Technology: Expected net profit for the first half of the year is 6 billion to 6.5 billion yuan, an increase of 1197% to 1305% year-on-year.

Preview of US Stock Market | Three major stock index futures rise together, most technology stocks are on the rise. Technology giants are in a "wait-and-see" mode on the eve of their financial reports.

Before the US stock market opened on July 21 (Tuesday), the futures of the three major US stock indices rose simultaneously.

Financial Report Outlook | Alphabet (GOOGL.US) kicks off the "seven giants" Q2 financial report season Can the billion-dollar AI gamble pay off?

Alphabet will be releasing its second quarter earnings report after the market closes on July 22nd (Wednesday) Eastern Time.

Midterm elections enter the heart of asset pricing! Arizona primaries kick off, Trump's "election integrity" agenda faces a key stress test.

Trump's election appeal is being put to the test in the key primary of Arizona.

Hong Kong property market: Over 1,000 second-hand residential units registered in July, stabilizing at over 600 transactions.

As of today (as of the 20th), there have been 393 registrations of second-hand residential properties worth over 10 million Hong Kong dollars, a decrease of about 42.3% compared to the 681 registrations in the same period last month.

The China Securities Regulatory Commission holds a series of symposiums with listed companies, industry organizations, experts and scholars to listen to opinions and suggestions.

From the afternoon of July 20th to the 21st, members of the Party Committee of the China Securities Regulatory Commission held separate discussions to listen to opinions and suggestions from all parties on promoting the stable and healthy development of the capital market.

Ali Qwen3.8-Max-Preview latest version released

According to the official WeChat account of Qwen, the latest version of Ali Qwen 3.8-Max-Preview has been launched. It is reported that this version has improved capabilities and the front-end performance will be better.

Global iron ore exports Hub Group, Inc. Class A strike crisis postponed! Progress made in the labor negotiations at the Port of Hedland for BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US).

Mining giant BHP and the union representing workers at the port of Hedland in Western Australia made progress in negotiations on Tuesday. However, both sides failed to reach an agreement at the end of the day, with the union stating that negotiations will continue next week.

SK Hynix American stocks rose more than 7% in pre-market trading.

As demand for AI surges, costs soar! Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) is reportedly considering raising prices by up to 10% in 2027 due to concerns of "chip inflation" escalating.

According to media reports citing informed sources, TSMC has begun discussions with clients, planning to raise chip manufacturing prices by up to 10% in 2027 to cover the continuously rising production costs.

Northbound funds | Northbound trading net bought 7.167 billion, Northbound trading re-added positions in AI hardware stocks, and bought over 1.1 billion Hong Kong dollars of KNOWLEDGE ATLAS (02513) throughout the day.

On July 21, the Hong Kong stock market saw a net inflow of 7.167 billion Hong Kong dollars in Northbound trading. Among them, the net inflow in the Shanghai-Hong Kong Stock Connect was 1.309 billion Hong Kong dollars, and the net inflow in the Shenzhen-Hong Kong Stock Connect was 5.859 billion Hong Kong dollars.

There is a change in the leadership of the British political arena, with the new Chancellor of the Exchequer taking over the "hot potato": fiscal borrowing exceeding expectations, putting pressure on the bond market again.

Britain's borrowing excesses have issued a warning to the new government of Burnham.

HSBC strategist warns: US stocks may face a risk of correction before the midterm elections. Investors should consider reducing their positions after the end of earnings season.

Max Ketner, Chief Multi-Asset Strategist of HSBC Holdings, said that stock investors should consider reducing some of their positions after the end of this earnings season.

The news states that Samsung has begun supplying V10 NAND flash memory to NVIDIA.

According to reports, Samsung Electronics is expanding its cooperation with NVIDIA in the NAND flash memory field. Industry insiders revealed that Samsung Electronics has built a V-NAND production capacity of over 100,000 wafers per month and is currently mass producing its tenth generation V10 product to supply to NVIDIA. It is reported that Samsung has allocated about 60% of its V-NAND capacity to V9 flash memory in order to meet NVIDIA's demand for NAND in the second half of the year. In addition, Samsung has started trial production of 500-layer V11 flash memory, which began at the beginning of this year and plans to double the related production in the second half of the year.

National supercomputer Internet on-line Kimi K3 API service

On July 21st, the National Supercomputing Internet recently launched the Kimi K3 model API call service, allowing enterprises and developers to quickly access large model capabilities without the need for cumbersome environment configuration. Currently, this API is compatible with OpenAI and Anthropic interface specifications, supporting the rapid and cost-effective development of diverse AI applications. In addition, the National Supercomputing Internet has also introduced the "100,000 Blocks Co-creation Plan" and opened a one-stop MaaS service.

Asian stock markets rebounded to end three consecutive declines! Middle East mediation efforts are pushing oil prices lower, and the market is waiting for AI to welcome the "big test" of financial reports.

On Tuesday, as efforts to mediate in the Middle East led to a fall in oil prices from a one-month high, Asian stock markets ended their previous three-day losing streak. Meanwhile, investors are preparing to welcome the upcoming corporate earnings season.

Hong Kong: CPI increased by 2% year-on-year in June.

Hong Kong's CPI increased by 2% year-on-year in June.

BlackRock, Hillhouse, and Temasek are reportedly set to become cornerstone investors in the Hong Kong listing of China International Capital Corporation Limited.

Insiders say that BlackRock, Hillhouse Capital, and Temasek are expected to become cornerstone investors in the potential $8 billion Hong Kong IPO of Zhongji Xuchuang. Insiders revealed that investment firms Sequoia Capital, Morgan Asset Management, Wellington Management Co., and Yunfeng Fund also plan to participate as cornerstone investors in the transaction. Due to the sensitive nature of the information, the insiders requested anonymity. They stated that these cornerstone investors are expected to subscribe to nearly half of the shares. Insiders say that Zhongji Xuchuang plans to start accepting investor subscriptions as early as Wednesday, which could become the largest stock offering in Hong Kong in seven years. They mentioned that the initial size of the offering is around $7 billion, but oversubscription options could push the final size to $8 billion. The insiders added that discussions are still ongoing, and details including the lineup of cornerstone investors could still change. Hillhouse Capital, Morgan Asset Management, Temasek, and Sequoia Capital declined to comment. BlackRock, Wellington, and Yunfeng Fund did not respond to requests for comment sent via email. Zhongji Xuchuang also did not provide a response.

TSMC plans to raise the price of advanced and mature process chip production services by up to 10% in 2027.

Hong Kong stocks closed: Hang Seng Index fell 0.043%, Hang Seng Technology Index rose 1.319%

Zhipu rose by 37.339%, Huahong Microelectronics rose by 18.404%, MINIMAX-W rose by 15.174%, SMIC rose by 8.530%, China Resources Land fell by 2.784%, China Resources Vanguard Lifestyle fell by 3.288%, and Master Kong Holdings fell by 3.489%.

The job market has stopped falling and stabilized, with wage growth hitting a nearly five-year low! The Bank of England is pleased to see a "reassurance pill" as the probability of staying put next week rises.

Before the Bank of England announces its latest interest rate decision next week, official data released in the UK shows further signs of stabilization in the labor market, which is expected to provide support for the Bank of England to hold interest rates steady next week.

Insiders: BlackRock and Hillhouse Capital plan to invest in Innolight and support its listing in Hong Kong.

Tencent Cloud executives recently stated at a sub-forum of the World Artificial Intelligence Conference that in order to reduce the cost of reasoning to the extreme, the company will deploy domestic computing power on a large scale. The company is expected to deploy NPO (Near Packaging Optics) super nodes in the fourth quarter of 2026, and is calling for unified industry standards for NPO both domestically and internationally.

State Administration for Market Regulation: During the 13th Five-Year Plan, a high-level testing platform for strategic emerging industries such as integrated circuits, new energy, biopharmaceuticals, and humanoid robots will be established with a forward-looking layout.

The State Administration for Market Regulation held a press conference today to introduce the development achievements of China's inspection and testing services industry during the "14th Five-Year Plan" period. During the "15th Five-Year Plan" period, the State Administration for Market Regulation will implement pilot projects to promote industrial optimization and upgrade innovation in inspection and testing, as well as a three-year action plan to improve the quality of the national quality inspection center. They will strategically layout high-level testing platforms for emerging industries such as integrated circuits, new energy, biomedicine, humanoid robots, and promote service model innovation through digital transformation. Strengthening deep collaboration with industry leaders and research institutes, jointly conquering key core technologies, and promoting the upgrade of inspection and testing from a single service to "industry chain collaboration," shifting from "post-quality control" to "innovation empowerment throughout the process." Coordinating the construction of green low-carbon, food safety, and high-risk industrial product testing capabilities to safeguard the quality and safety of industrial development and people's livelihoods.

Hong Kong Buildings Department: A total of 13 sets of architectural plans were approved in May.

In May, the Hong Kong Buildings Department approved a total of 13 sets of building plans, including 3 on Hong Kong Island, 4 in Kowloon, and 6 in the New Territories.

In 2026, childcare subsidies have been distributed to 25.16 million people.

As of now, a total of 27.51 million applications for childcare subsidies for the year 2026 have been submitted. 27.13 million applications have been approved, and subsidies have been distributed to 25.16 million people.

Zhushao Xing has a heavy position in Zhongji Xuchuang.

On July 21st, the well-known fund manager Zhu Shaoxing's "Exclusive Fund" - Fuguo Tianhui Selected Growth, disclosed its second quarter report for 2026. It is worth noting that as of the end of the second quarter, Zhongji Xuchuang and Zejing Pharmaceuticals have entered the top ten major holdings of the fund for the first time, becoming the sixth and seventh largest holdings, with their holdings valued at over 700 million yuan and 500 million yuan respectively. At the same time, China Ping An and Binjiang Group once again entered the top ten major holdings of the fund, while XCMG, Zijin Mining, Ruifeng New Materials, and Guizhou Maotai collectively exited the top ten major holdings of the fund. As of the end of the first quarter of 2026, the fund had been heavily invested in Guizhou Maotai for 25 consecutive quarters, holding 280,000 shares of Guizhou Maotai with a holding market value exceeding 400 million yuan at that time. In addition, the fund continues to hold a heavy position in Ningbo Bank, with the number of shares held remaining unchanged from the previous quarter. As of the end of the second quarter of 2026, the fund has been heavily invested in Ningbo Bank for 24 consecutive quarters, with a holding market value of 1.485 billion yuan. The fund has also increased its holdings in Spring Air Power and Guangzhou Steel Gas, reduced its holdings in Guoci Materials by nearly 70%, and also reduced its holdings in Jerry Shares and NINGDE Times.

Cardiovascular disease biotechnology company Scribe (SCTX.US) IPO pricing $13-15 per share, aiming to raise $100 million.

Scribe Therapeutics announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 7.2 million shares at a price of $13 to $15 per share, raising $100 million.

A-share closing review | Shanghai Composite Index closes up 1.79% Technology leaders rebound together, with stocks like Zhongji Innolight (300308.SZ) rising more than 10%.

As of the close, the Shanghai Composite Index rose 1.79% to 3864.37 points, with a turnover of 139.65 billion yuan; the Shenzhen Component Index rose 4.81% to 14264.29 points, with a turnover of 154.83 billion yuan.

New Stock News | It is reported that Zhongji Innolight (300308.SZ) has started a pre-IPO roadshow for its Hong Kong listing, with plans to raise up to $8 billion.

If the listing is successful, Zhongji Xuchuang is expected to become the largest IPO in the Hong Kong market since Alibaba in 2019.

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OpenAI: The security incident of the Facebook AI open source community Hugging Face was triggered by multiple OpenAI models, including GPT-5.6 SOL, as well as a more powerful pre-release model.

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