GMT EIGHT - OPPORTUNITIES IN CHINA

A large amount of copper flowed into the United States before Trump's decision on copper tariffs! The import volume in July hit the highest level in at least 12 years, with global inventories continuing to shift to the U.S.

As U.S. President Trump is about to make a decision on whether to impose tariffs on imported refined copper, global copper trade is accelerating its flow to the United States.

AWS's strong growth boosts market confidence. Amazon.com, Inc. (AMZN.US) has surpassed a market capitalization of $3 trillion for the first time, leading the stock performance among the "Big Seven" this year.

Driven by the strong growth of its cloud computing business, Amazon's stock price continued to rise on Monday, at one point increasing by 5.3%, and the company's market value surpassed $3 trillion for the first time in history.

US Stock Market Move | Cloud computing service concept stocks experienced a broad rally, with CoreWeave (CRWV.US) soaring over 13%.

On Monday, shares of cloud computing service companies rose broadly, with CoreWeave (CRWV.US) soaring more than 13%.

In July, the ISM Manufacturing PMI in the United States reached a new high not seen in over four years! The employment index returned to the expansion zone, and the construction of AI infrastructure is driving sustained demand for semiconductors.

The manufacturing sentiment in the United States improved further in July, achieving the best performance in over four years.

US Stock Market Move | NVIDIA Corporation (NVDA.US) rose over 2%. Goldman Sachs Group, Inc.: AI profits will continue to drive the bull market in US stocks.

On Monday, Nvidia (NVDA.US) opened lower but quickly rebounded, rising over 2% as of the time of writing, with a price of $205.57.

US Stock Market Move | Boeing Company (BA.US) rose over 5%, with its stock price reaching a new high in more than three weeks.

As of the time of publication, the stock has risen over 5%, reporting at $227.915.

US Stock Market Move | Circle (CRCL.US) fell over 6.8% as the "Clarity Act" was not included in Monday's review schedule.

As of the time of publication, the stock has dropped over 6.8%, reported at $58.34.

US Stock Market Move | Storage chip concept stocks experienced a broad decline, with Seagate Technology Holdings PLC (STX.US) dropping over 6%.

On Monday, storage chip concept stocks fell broadly, with Seagate Technology (STX.US) dropping over 6% and Western Digital (WDC.US) declining over 5%.

US Stock Market Move | Most of the technology stocks are up, with Amazon.com, Inc. (AMZN.US) rising over 5%.

On Monday, most major technology stocks rose, with Amazon (AMZN.US) and Microsoft (MSFT.US) both up over 5%.

Wedbush: Tower Semiconductor Ltd (TSEM.US) SiPho capacity is accelerating, Q2 revenue is expected to exceed expectations.

Investment bank Wedbush released a report stating that Tower Semiconductor (TSEM.US) will announce its second quarter earnings after the U.S. stock market closes on Tuesday, August 4, and it is expected that its revenue will exceed market expectations.

U.S. stock market opens: All three major indexes rise.

The Dow Jones Industrial Average rose by 1.08%, the S&P 500 index increased by 0.44%, and the NASDAQ gained 0.37%. Builders FirstSource climbed by 4.98%, Norwegian Cruise Line rose by 4.21%, United Continental Airlines saw an increase of 4.19%, Pool Corporation was up 3.87%, Costa gained 3.82%, and AppLovin rose by 3.79%. Regarding the "Seven Sisters": Microsoft increased by 3.05%, Amazon rose by 2.88%, Google gained 2.01%, Meta Platforms was up 1.27%, Apple rose by 0.85%, Tesla increased by 0.53%, and Nvidia fell by 1.29%.

The U.S. Treasury is expected to refuse to change its guidance on Treasury bond issuance. The short-term debt "dependency" may face the risk of interest rate shocks.

Before the quarterly debt strategy statement is released on Wednesday, most primary dealers expect the U.S. Treasury to reaffirm its previous position that it will not increase the issuance of medium- and long-term government bonds (notes and bonds) "for at least the next few quarters."

From "never sell" to actively offloading! Strategy (MSTR.US) reduced its holdings by 1,638 bitcoins at a loss and plans to expand its cashing-out target to $5 billion.

Strategy sold approximately $105 million worth of Bitcoin to purchase STRC preferred shares to pay dividends.

The U.S. and Japan have joined forces to intervene and intensify the weakening of the dollar, while doubts surrounding Federal Reserve policies remain the biggest "driving force."

On Monday (August 3), the US dollar index fell further. The joint intervention by the US and Japan to support the yen, combined with the dollar selling pressure triggered by last week's Federal Reserve meeting, contributed to the continuing downward trend of the dollar.

The Trump family's supported American Bitcoin (ABTC.US) has reported losses for three consecutive quarters, while increasing its Bitcoin holdings to 8,000 coins against the trend.

American Bitcoin (ABTC.US) has reported losses for the third consecutive quarter.

The demand for AI infrastructure is strong! KKR (KKR.US) has successfully raised a record $19.2 billion for its infrastructure fund, fully betting on data centers and energy transformation.

KKR has raised $19.2 billion for the largest infrastructure fund in the company's history.

Domestic futures night market opens.

Polycrystalline silicon has risen continuously by 8.99%, while red dates have dropped continuously by 5.35%, urea has dropped continuously by 3.81%, Shanghai crude oil has dropped continuously by 3.62%, and fuel oil has dropped continuously by 3.43%.

The new AI story amid the sluggish stock market: the valuation of South Korean chip unicorn DeepX soars 4 times to $2.2 billion.

The South Korean AI chip design company DeepX Co. has recently completed a new round of financing, with its valuation skyrocketing approximately four times compared to the previous round, reflecting the continued strong investment enthusiasm in companies related to the artificial intelligence industry chain.

A-share Announcement Highlights | Advanced Micro-Fabrication Equipment Inc. China (688012.SH): Net profit for the first half of the year is expected to increase by 282.48% - 310.81% year-on-year.

The company Zhongwei disclosed its performance forecast, expecting a net profit attributable to the parent company of 2.7 billion to 2.9 billion yuan in the first half of 2026, an increase of 282.48% to 310.81% year-on-year.

China Academy of Information and Communications Technology: By 2025, the scale of China's artificial intelligence industry will exceed 1.2 trillion yuan, with a year-on-year growth of 40%.

According to estimates, by 2025, the scale of China's artificial intelligence industry will exceed 1.2 trillion yuan, a year-on-year increase of 40%.

Momentum stocks are expected to rebound! Morgan Stanley's Wilson: High-quality stocks are taking over from chips to lead the rally, and the S&P 500 is aiming for 8,000 points by the end of the year.

As sectors with strong profits replace chip stocks to lead the market rally, momentum stocks are expected to bounce back from their sharp decline.

Macau Monetary Authority: In June, both the deposits and loans of Macau residents declined month-on-month.

The statistics released by the Monetary Authority of Macao on August 3 show that the broad money supply fell in June 2026.

Federal Reserve's "third-in-command": Inflation has not changed the baseline for decline, interest rates are at a reasonable level.

According to reports, Fed's Williams stated that interest rates are at a reasonable level.

Preview of US Stock Market | All three major stock index futures rose, oil prices plummeted, and U.S. stocks are gearing up for non-farm payroll data and a heavy earnings report week.

On August 3rd (Monday), U.S. stock index futures rose across the board before the market opened.

Soaring prices prompt tax reduction proposals! Japan plans to significantly lower the consumption tax on food as fiscal and inflation risks intensify.

Despite opposition from former Japanese Prime Minister and other party officials due to concerns over the funding sources for tax cuts, the ruling Liberal Democratic Party (LDP) of Japan is still proceeding with plans to suspend the consumption tax on food as scheduled.

Relief from AI chip production capacity anxiety! ASML's core supplier Zeiss: confident in meeting demand, initiating headquarters expansion and new factory construction.

ASML's key supplier, Zeiss, has stated that it can meet the demand for critical artificial intelligence components.

Luckin Coffee's net revenue for the second quarter was 15.89 billion RMB, a year-on-year increase of 29%, compared to the estimated 15.43 billion RMB. The net profit for the second quarter was 1.49 billion RMB, a year-on-year increase of 19%. The adjusted net income per ADS for the second quarter was 5.44 RMB.

Hang Seng Index Company: In July, the Hang Seng Index and the Hang Seng H-Share Index ETF rose by 13.1% and 13.9%, respectively.

The Hong Kong stock market (represented by the Hang Seng Composite Index) rose by 10.9% in July. The Hang Seng Index and the Hang Seng China Enterprises Index increased by 13.1% and 13.9%, respectively.

Hong Kong Monetary Authority: The credit conditions for small and medium-sized enterprises in the second quarter remained generally stable.

The Hong Kong Monetary Authority has announced the results of the "SME Loan Survey" for the second quarter of 2026.

Last Friday, Japan spent a whopping $34 billion to rescue the yen! This round of intervention may set a new monthly record.

According to an analysis of data from the Bank of Japan's accounts, Japanese authorities may have intervened in the foreign exchange market by injecting about $34 billion last Friday to support the yen.

The Stock Exchange of Hong Kong: The second phase of the arrangement to lower the minimum price fluctuation for stocks takes effect today.

On August 3, the Hong Kong Stock Exchange officially implemented the second phase arrangement for reducing the minimum price fluctuations of stocks in the Hong Kong securities market.

Northbound funds | Northbound trading recorded a net purchase of 11.031 billion. Northbound funds increased their positions in Hong Kong stock ETFs and technology stocks, with a rush to buy the TRACKER FUND OF HONG KONG (02800), exceeding 4.7 billion Hong Kong dollars.

On August 3, the Hong Kong stock market saw a net purchase of 11.031 billion Hong Kong dollars from Northbound funds. Among this, the Shanghai-Hong Kong Stock Connect had a net buying of 6.428 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect recorded a net purchase of 4.603 billion Hong Kong dollars.

Notice from the Shanghai Futures Exchange on the Launch of Arbitrage Instructions

To meet market demands and improve market operation efficiency, the Shanghai Futures Exchange will launch arbitrage orders starting from August 24, 2026. Initially, arbitrage orders will apply to futures varieties of copper, gold, rebar, and natural rubber. Subsequently, the scope will be expanded to other varieties, and related arrangements for cross-variety arbitrage combinations will be announced by the exchange in due course. Arbitrage orders are only supported for futures varieties, with a minimum order quantity of 1 lot and a maximum order quantity of 500 lots.

Southbound funds net purchased 11.031 billion Hong Kong dollars today.

In terms of the Hong Kong Stock Connect (Shanghai), the Yingfu Fund and Tencent Holdings saw net purchases of HK$4.75 billion and HK$1.498 billion respectively; Semiconductor Manufacturing International Corporation (SMIC) topped the net sell figures with an amount of HK$371 million. As for the Hong Kong Stock Connect (Shenzhen), Alibaba-W and Tencent Holdings recorded net purchases of HK$3 billion and HK$935 million respectively; SMIC also led the net sell figures here with an amount of HK$692 million.

Ministry of Commerce: Foreign companies have filed a Section 337 investigation request concerning specific secondary cylindrical batteries, battery components, and products containing these components.

LG Energy Solution Ltd. of South Korea and LG Energy Solution Arizona, Inc. of the United States have filed a complaint with the U.S. International Trade Commission under Section 337 of the Tariff Act of 1930, alleging that certain secondary cylindrical batteries, components thereof, and products containing the same exported to the U.S., imported into the U.S., or sold in the U.S. infringe their patent rights.

The Bank of Korea has purchased domestic refined gold bars for the first time in 13 years.

The Bank of Korea will resume purchasing physical gold for the first time in 13 years, seeking to buy domestically refined gold bars. The heightened geopolitical risks have strengthened the rationale for diversifying South Korea's foreign exchange reserves.

The sharp rise in the yen has triggered a sell-off in Japanese stocks. Strategists say there is still a buffer between the exchange rate and the companies' assumed benchmarks, and the risk of profit downgrades is not significant.

The significant rise of the yen has triggered a sell-off in the Japanese stock market.

The demand for AI data centers and electrical infrastructure is heating up, leading Prysmian to invest $3.8 billion to acquire Atkore (ATKR.US).

The demand for AI data centers and electrical infrastructure is heating up, and Prysmian has invested $3.8 billion to acquire Atkore (ATKR.US).

Wall Street Giants: The Most Intense Selling in U.S. Stocks May Have Passed, But "Bottom Fishing" Still Carries Risks

Investors buying the dips in the US stock market need to pay attention to warning signals from the market.

The rebound of the yen is expected to "assist" the foreign exchange market! Citibank and Barclays both voiced their opinions: Asian currencies are likely to welcome a new round of appreciation.

According to analyses by Citigroup and Barclays Bank, the rise of the Japanese yen is expected to boost various Asian currencies due to a high correlation between some Asian currencies and the yen's trend.

Premier Li Qiang of the State Council recently signed a State Council order, announcing the revised "Regulations on the Protection of Layout Designs of Integrated Circuits," which will take effect on October 15, 2026.

Earnings Preview | The Battle of the AI Chip Titans Escalates! AMD (AMD.US) Earnings Report Will Test the Strength of NVIDIA Corporation as a "Challenger"

As a key competitor in computing power for NVIDIA, AMD's financial report will serve as a crucial barometer for the market's assessment of whether the global demand for AI computing power can continue to thrive.

The blockade threat from the Houthis has failed! The signal from the oil tanker "breaks through" the Bab el-Mandeb Strait, and crude oil exports from Saudi Yanbu Port are back to being busy.

As more and more ships pass through the Bab el-Mandeb Strait with their tracking signals turned off, Saudi Arabia's key crude oil export port, Yanbu, seems to be experiencing the busiest day since the Houthi armed group's threats disrupted shipping in the region.

Two departments: Enhance the capacity to ensure power supply and meet the high-reliability power requirements of various computing facilities.

The National Development and Reform Commission and the National Energy Administration have issued the "14th Five-Year Plan for the Construction of a New Power System." The plan proposes to enhance the capability of power supply security to meet the high-reliability electricity needs of various computing facilities. It aims to integrate energy resource allocation with the construction of computing facilities, and collaboratively plan the layout of computing and power projects, achieving a synergy between power enhancement and computing promotion. Relying on the development of computing facilities, it will adopt new models such as integrated source-network-load-storage and direct green electricity connection, enabling green electricity aggregation transactions and on-site consumption, thus increasing the proportion of green electricity for computing facilities. It also aims to strengthen the recovery and utilization of the waste heat resources from computing facilities.

The National Development and Reform Commission and the National Energy Administration have issued the "14th Five-Year Plan for the Construction of a New-type Power System." By 2030, a preliminary new-type power system will be established: a basic formation of a green and low-carbon power supply structure, with non-fossil energy accounting for 50% of the total electricity generation; the power supply capacity will continue to enhance, the mutual support and security resilience of the power system will be significantly improved, and the adequacy of electricity supply will be maintained at a reasonable level, effectively meeting the electricity needs for economic and social development as well as the people's pursuit of a better life; a safe, reliable, green, low-carbon, strong, resilient, intelligent, and flexible new power grid will be initially established, fully realizing the resource allocation platform functions and service capabilities, achieving 2.8 billion kilowatts.

Earnings Report Preview | After a 47% plummet in July, is the earnings report a major test for SanDisk (SNDK.US)? Can it prove the "misjudgment" with AI demand?

The storage chip giant SanDisk (SNDK.US) will release its fourth quarter and annual results for fiscal year 2026 after the market closes on Wednesday (August 5) Eastern Time.

Hong Kong stocks closed: The Hang Seng Index rose by 0.483%, and the Hang Seng Technology Index rose by 0.961%.

Xinyi Solar gained 13.409%, MINIMAX-W rose 7.285%, Alibaba-W increased by 6.838%, Hang Lung Properties grew by 4.801%, New Oriental-S climbed 4.638%, SenseTime-W went up 4.138%, and Lenovo Group rose 3.688%.

Hong Kong Monetary Authority: The Faster Payment System will undergo a system upgrade from 1:00 AM to 11:00 AM on August 9th, during which service will be suspended.

The Hong Kong Monetary Authority announced that the Faster Payment System will undergo a system upgrade on August 9, during which service will be suspended from 1 a.m. to 11 a.m.

Hong Kong Stock Exchange launches 5-year Chinese government bond futures contracts. Tang Jiacheng: This will further enrich the offshore RMB product ecosystem and promote the internationalization of the RMB.

On August 3, the Hong Kong Stock Exchange launched a 5-year China government bond futures contract, marking an important step in the development of Hong Kong's fixed income and currency (FIC) ecosystem and further promoting the development of Hong Kong's offshore renminbi market.

Baiyue's dark side may apply for an IPO this month, raising approximately $3 billion.

According to reports, the Dark Side of the Moon plan is expected to submit its IPO application in Hong Kong as early as this month, potentially raising around $3 billion. Information shows that recently, the Dark Side of the Moon just completed an over $3.5 billion Series F financing, with a post-investment valuation rising to $35 billion. It is reported that due to the financing amount exceeding the target by more than three times, this round of financing has already closed ahead of schedule, and the previously scheduled Series G round set to begin in August has started early, with a pre-investment valuation rising to $50 billion. A source close to the Dark Side of the Moon remarked in communication with a media outlet, They raised $3.5 billion in the last round, and now they're only looking to raise $3 billion in the IPO; it sounds a bit fake. However, as of the time of publication, the Dark Side of the Moon has not publicly responded to or confirmed this matter.

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