GMT EIGHT - OPPORTUNITIES IN CHINA

Tracking the concept of Hong Kong stocks | Policy, industry, and capital resonance, innovative drugs usher in a critical window (with concept stocks)

Under the resonance of multiple positive variables, the long-term growth logic of innovative drugs continues to repair. In the second half of the year, valuation repair and performance realization certainty continue to rise, and market confidence in the long-term growth of the industry continues to rebound.

SpaceX has canceled the major test flight of the "Starship" rocket.

HK Bull/Bear Outstanding Qty Ratio(45:55) | July 17th

As of July 17th, the latest bull-bear ratio of the Hang Seng Index is 45:55.

Overnight US stocks | Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) raised its full-year capital spending, causing market concerns. The three major indexes fell, with the Philadelphia Semiconductor Index down more than 4%.

As of the close, the Dow fell 105.67 points, or 0.20%, to 52552.97 points; the Nasdaq fell 387.28 points, or 1.47%, to 25881.95 points; the S&P 500 index fell 38.64 points, or 0.51%, to 7533.76 points.

Short positions in SpaceX (SPCX.US) stock have increased as the price drops, with short positions accounting for approximately 29% of the outstanding shares.

As SpaceX's stock price continues to decline, the bears are quickly increasing their bets.

Dallas Federal Reserve President Logan called for a moderate rate hike. The slight cooling of monthly inflation is not enough to restore price stability.

Dallas Federal Reserve President Loretta Mester said on Thursday that despite the slight improvement in this week's US inflation data, there is still a significant gap to reach the Federal Reserve's 2% inflation target.

The code generation capability has not reached its goal. Alphabet Inc. Class C (GOOGL.US) delays the release of the Gemini 3.5 Pro large language model.

Due to the delay in the release of the flagship artificial intelligence model, Alphabet's stock price fell by 4% on Thursday.

Google reportedly delays the release of Gemini 3.5 Pro due to continuous improvement in model programming capabilities.

Insiders revealed that the release of Google's flagship AI model, Gemini 3.5 Pro, has been delayed for several months from its original plan, as the company has invested more time in improving the model's capabilities, especially its programming abilities. According to 10 current and former employees, the delayed release of Gemini 3.5 Pro has caused dissatisfaction among Google engineers, AI researchers, and management, as they are concerned that with Anthropic and OpenAI launching models that outperform Gemini, Google may lose its market-leading advantage. The sources mentioned that Google needs to go through multiple stakeholder approvals before releasing the model, as well as integrating AI capabilities into products such as Search, Maps, and YouTube, all of which could slow down the product release schedule.

US Stock Market Move | Data center operator Csquare (CSQR.US) launches on the US stock market, with the stock price dropping over 1% after opening.

As of press time, the stock has fallen more than 1%, trading at $20.77.

US Stock Market Move | QumulusAI (QMLS.US) enters the US stock market, with the opening stock price dropping and triggering a circuit breaker.

As of the time of drafting, the stock has fallen by 39.53% to $22.98.

Inflation cools to boost US bond market, traders accelerate closing positions on bets of Fed rate hikes.

After consecutive releases of mild signals in the consumer and producer price data in the United States, the mood in the bond market has clearly turned optimistic.

US Stock Market Move | Corning Inc (GLW.US) fell nearly 9% in the morning session, a cumulative drop of 38% from its previous historical peak.

On Thursday, Corning (GLW.US) dropped nearly 9% in the morning session, down 38% from its previous historical high, and is now trading at $158.64.

A-share evening hotspots | Many stocks release performance and order benefits during the big drop! Involving Moore Thread, Hygon Information Technology, etc.

During the market downturn, many stocks released positive news regarding their performance and orders. This involves leading companies such as Molex and HG information.

US Stock Market Move | Huang Renhun hits back at SemiAnalysis's product delay theory, NVIDIA Corporation (NVDA.US) tumbles by 3%.

On Thursday, NVIDIA (NVDA.US) fell by 3%, with its market value dropping below $500 billion, now trading at $206.69.

The coldness in the US real estate market has not dissipated, and builder confidence has dropped for two consecutive months to its lowest point of the year.

Due to factors such as high mortgage rates, rising costs of land and construction materials, the confidence of American home builders has declined for the second consecutive month, falling to the lowest level of the year.

US Stock Market Move | SpaceX's stock price fell below its IPO issuance price, down 33% from its peak after going public.

On Thursday, SpaceX (SPCX.US) continued to weaken, falling by nearly 1% to trade at $134.91. The company's stock price has dropped below its highly anticipated initial public offering (IPO) price of $135.

For over 30 years, the "long bond bull market" of U.S. Treasuries has rarely changed direction. Hoisington warns that the long-term bond bull market in the United States may be coming to an end.

For a long time, the Hoisington Investment Management Co. has been firmly bullish on US government bonds. Now, they have rarely changed their position.

US Stock Market Move | The plan to issue a $1 billion convertible bond has raised concerns of equity dilution, causing AST SpaceMobile (ASTS.US) to fall more than 13%.

On Thursday, AST SpaceMobile (ASTS.US) fell more than 13% in early trading, with the stock price halved from its historical high at the end of May, now trading at $57.09.

Asmi expands production, TSMC increases investment, and Anthropic's profits leap: Is the theory of "excessive computing power" being challenged, and is the AI bull market moving towards the era of compound reasoning?

From large orders of lithography machines to soaring profits of Anthropic, data centers are bidding farewell to the era of burning money, and AI computing infrastructure is entering a new era of cash flow reassessment. Exponential View estimates that revenue from generative AI in the past 12 months is approximately $110 billion, with a current monthly annualized revenue rate of around $175 billion; SemiAnalysis predicts that Anthropic will achieve profits exceeding $1 billion in the third quarter of 2026.

US Stock Market Move | Storage concept stocks continue to decline at the opening, with SK Hynix (SKHY.US) falling more than 7%.

On Thursday, storage concept stocks opened lower.

US Stock Market Move | Q2 revenue and profits both exceed expectations, Abbott Laboratories (ABT.US) rises over 12%.

As of the time of writing, the stock has increased by more than 12%, reaching $99.96.

US Stock Market Move | Improve full year performance outlook UnitedHealth Group Incorporated (UNH.US) opened up nearly 9%

On Thursday, UnitedHealth Group (UNH.US) opened nearly 9% higher, with a year-to-date increase of 40%, now trading at $453.55.

US Stock Market Move | Lively Comes to Acquire AtaiBeckley Inc. for up to $3.8 Billion, with shares soaring over 30% at the opening.

On Thursday, AtaiBeckley Inc. (ATAI.US) soared over 30% at the opening, hitting a new high for the year, currently trading at $7.05 per share.

Gas station revenue plummeted, "masking" real consumption power: US June retail "cold outside and hot inside", core consumer spending increased by 0.5% month-on-month, exceeding expectations.

Retail sales in the United States in June saw a slight increase, as falling gasoline prices led to a sharp drop in gas station revenue but also freed up household budget space, driving consumption in various sectors such as e-commerce and automotive.

Philadelphia Semiconductor Index opens down more than 2%

The Philadelphia Semiconductor Index opened down 2.16%. Among the components, Nvidia's stock price fell by 0.99%, TSMC's stock price fell by 2.53%, Broadcom's stock price fell by 2.67%, Micron Technology's stock price fell by 3.4%, AMD's stock price fell by 3.01%, and Applied Materials' stock price fell by 0.39%.

US market opening: The three major stock indices have mixed movements.

The Dow rose by 0.26%, the S&P 500 index fell by 0.19%, and the Nasdaq fell by 0.42%. SanDisk fell by 5.39%, Arm Holdings Plc fell by 5.23%, Coherent Corp fell by 4.97%, UnitedHealth rose by 8.35%, and JB Hunt Transport Services rose by 7.17%. As for the "big seven" companies: Google rose by 0.96%, Amazon rose by 0.80%, Microsoft rose by 0.42%, Apple rose by 0.25%, Meta Platforms fell by 0.22%, Nvidia fell by 1.24%, and Tesla fell by 1.36%.

The number of initial unemployment claims in the United States dropped to 208,000, showing greater resilience in the labor market than expected.

As of the week ending on July 11, the number of initial unemployment benefit claims decreased by 8,000 people to 208,000. The median forecast from economists surveyed was 217,000 people.

HAITONG INT'L Zhang Yidong: Hong Kong AI market is expected to return to an upward trend and further expand to a wider AI industry chain.

In August, with the easing of overseas macro liquidity and micro liquidity shocks, combined with the strengthening of the southward interactive transfer and the absorption capacity, the AI market is expected to return to an upward trend and further expand from the scarcity of AI assets to a broader AI industry chain.

Spot gold fell below $3980 per ounce, dropping 2.00% within the day.

Performance recovery engine of Boeing Company (BA.US) roars! Three delayed aircraft models sprint for certification, cash flow and balance sheet welcome a key turning point.

Boeing is recovering from years of mistakes, and the certification process for its three long-delayed jetliners is also nearing completion. The certification of the 737 Max 7 is expected to be completed this year, with 95% of the certification delivery work already completed and all necessary test flights finished.

Multiple business lines are fully exerting efforts! Abbott Laboratories (ABT.US) Q2 revenue and profits exceed expectations, against the trend raised its 2026 full-year profit guidance.

The financial report shows that Abbott's second quarter revenue was $12.59 billion, a year-on-year increase of 13.0%, exceeding market expectations; adjusted earnings per share were $1.31, exceeding expectations by $0.03.

Overthrow Wall Street! From the market periphery to the pricing hub, this group of "whales" is rewriting the rules of the US stock game.

According to Goldman Sachs statistics, retail investors currently account for approximately 30% of the daily trading volume in US stocks. In May of this year, the trading volume of retail investors exceeded the previous record set during the "MEME stock" frenzy in January 2021 by 10%, and in June, it hit a new all-time high.

Zhongyuan Real Estate: The latest CVI report is 77.62 points, down 4.2 points from last week, the first time it has dropped below 80 points since February this year.

The latest CVI report for this week is 77.62 points, a decrease of 4.20 points from last week's 81.82 points, marking the first time since early February this year that it has fallen below 80 points.

International travel boom drives surge in demand for aircraft engines, GE Aviation (GE.US) adjusts full-year performance outlook.

This global largest jet engine manufacturer has the ability to avoid disruptions related to the war with Iran and profit from strong travel demand.

Spot gold fell below $4020 per ounce, down 1.00% intraday.

Lilly (LLY.US) splurges $3.8 billion to enter the psychedelic drug track! Acquires Atai Beckley (ATAI.US) at a 26% premium.

Eli Lilly (LLY.US) has agreed to acquire AtaiBeckley Inc. for up to $3.8 billion, highlighting the growing interest of major pharmaceutical companies in the once fringe area of psychedelic medicine.

The Baltic Dry Index fell by 3.04% to 2840 points.

A-share announcement highlights | Significant fluctuations in the value of biological assets pose risks of two consecutive daily limit ups in 5 days Joinn Laboratories (603127.SH) warns of risks

5 days ago, the value of the new drug Zhaoyan was listed on the stock exchange. The fair value of biological assets is affected by multiple uncertain factors, posing a risk of significant value fluctuations.

Preview of US Stock Market | The three major stock index futures are not all rising or falling, and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) reported better-than-expected earnings yet still faced selling pressure.

Before the US stock market opens on Thursday, July 16th, the futures of the three major US stock indexes are mixed.

Step out of the shadow of historic collapse! UnitedHealth Group Incorporated (UNH.US) significantly raises full-year guidance, blowing the horn of recovery with better-than-expected financial report.

UnitedHealth (UNH.US) has raised its full-year performance outlook and reported quarterly profits that far exceeded Wall Street expectations, helping to solidify the company's profit recovery after experiencing a historic collapse.

At the time when the stock price of SpaceX (SPCX.US) is falling, Starship V3 is striving to carry the faith in "Starlink, lunar landing, and space AI" through its 13th test flight.

SpaceX will conduct a major test flight of its Starship rocket from the interstellar base in southern Texas on Thursday. This giant rocket is crucial for Elon Musk's ambitions to establish a data center in space, expand the Starlink communication network, and send humans to the moon and Mars.

New Stock News: Eudon Micro Medicine has submitted its prospectus to the Hong Kong Stock Exchange for the third time. It has accumulated approximately 1.66 billion yuan in continuous losses during the reporting period.

According to the disclosure by the Hong Kong Stock Exchange on July 16, InnoCare Pharma has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Citigroup and China International Capital Corporation (CICC) as joint sponsors.

SpaceX's listing effect attracts "outside the circle capital": Space investment in the second quarter of 75 billion U.S. dollars, approaching record highs.

According to a report released by the British investment firm Seraphim Space on Thursday, fueled by SpaceX's milestone IPO raising nearly $86 billion, the global space startup funding in the second quarter of 2026 is approaching historic highs.

Changxin Technology: The preliminary online subscription rate is 0.40995452%.

Changxin Technology Announcement: According to data provided by the Shanghai Stock Exchange, the number of valid online subscribers for this issuance is 9,428,778 households, with a total of 816,920,125,000 valid shares subscribed. The preliminary online subscription rate is 0.40995452%. The total number of allocation numbers is 1,633,840,250, with the range of numbers from 100,000,000,000 to 101,633,840,249.

New stock news | Yino Well Medicine has submitted its application to the Hong Kong Stock Exchange for the third time

According to the disclosure by the Hong Kong Stock Exchange on July 16th, Yuanuo Medical has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Citigroup and China International Capital Corporation Limited serving as joint sponsors.

Northbound funds | Northern funds have a net purchase of 5.039 billion, continuing to grab shares of science and technology stocks and large models, while selling AI hardware stocks throughout the day.

On July 16, the Hong Kong stock market saw a net purchase of 5.039 billion Hong Kong dollars from Northbound funds. Among them, the Shanghai-Hong Kong Stock Connect recorded a net purchase of 2.001 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect recorded a net purchase of 3.038 billion Hong Kong dollars.

Market news: Iraq suspends oil exports after drones attack tankers.

Southbound funds saw a significant net inflow of 5.039 billion yuan today. In terms of the Shanghai-Hong Kong Stock Connect, Zhipu and Alibaba-W had net inflows of 1.84 billion Hong Kong dollars and 1.91 billion Hong Kong dollars respectively, while Xiaomi Group-W had the highest net outflow of 687 million Hong Kong dollars. In terms of the Shenzhen-Hong Kong Stock Connect, Alibaba-W and Tencent Holdings had net inflows of 1.642 billion Hong Kong dollars and 1.541 billion Hong Kong dollars respectively, while Jiantao laminated panels had the highest net outflow of 1.07 billion Hong Kong dollars.

South Korea's regulators have launched a "combination punch" to cool down the market! They have raised margins and urgently halted the listing of single stock leveraged ETFs.

South Korea will temporarily halt new listings of individual stock leveraged exchange-traded products (ETPs) to curb market volatility.

Total (TTE.US) expected to exceed profit forecast in Q2: Brent oil quarterly average price approaches $100, boosting upstream, with LNG business being the only drag.

Total announced on Thursday that its second-quarter performance is expected to increase overall profits due to higher oil prices and soaring refining margins driven by the Iran conflict. However, the performance of the integrated liquefied natural gas (LNG) division is expected to decrease significantly due to the downturn in the European market and setbacks in natural gas trading.

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