Wealth Daily
Walmart’s Surprise Earnings Miss Jolts Markets
Today’s Must-Know News
Overnight Markets
S&P 500 fell 0.87% Thurs, contributed by declines in AAPL -1.75%, AMZN -2.16%, WMT -9.15%, LLY -2.81%, GOOGL -1.17%, GOOG -1.02%, NVDA -0.33% & MSFT -0.65%, even as MU +3.97% & MRVL +5.79% gained. Walmart’s 2QFY27 comparable sales rose just 2.6% below the 3.8% consensus, marking its first same-store sales miss in at least five years. Meanwhile, Alibaba (9988.HK +1.61%; BABA +1.26%) fell Thurs after 1QFY27 net profit sank 75% yoy and capex rose 75% to RMB67.7bn, as heavy AI spending offset 45% growth in AI cloud and compute revenue. Micron rose on plans to invest USD10bn over the next decade in a Boise AI-memory research lab, with groundbreaking expected in 2027. Nvidia denied that it plans a China-specific LPU (Language Processing Unit) by year-end, contradicting a report that customers had already placed orders. Nvidia reports 2QFY27 earnings Aug 26 (Wed) after-market, with focus is on whether revenue will beat its USD92bn guidance, Data Center growth, margins, Rubin/Vera demand and China revenue. Broadcom (AVGO +0.43%) is in talks to raise more than USD60bn to fund AI chips and infrastructure for Anthropic and other customers. Anthropic is preparing for a potential IPO that could match or exceed SpaceX’s (SPCX -4.05%) USD75bn record offering, after raising USD65bn in May at a USD965bn valuation. Shein is targeting a Hong Kong debut on Sep 1. Crypto-linked shares rallied after Trump urged Congress to pass the Clarity Act, with COIN +7.58%, MSTR +7.81%, CAN +16.16% and HOOD -0.7%, while Bitcoin (XBT +5.25%) gained to hit USD72,633.79. Energy (XLE +0.27%, OXY +2.38%, XOM +0.84%, CVX flat) also gained as oil rose on tougher US sanctions threats against Iran. Gold (XAU +0.02%) held on to USD4,516.58/oz Thurs even as the US 30-year yield rebounded about 5.6bps to 5.248% & dollar (DXY +0.07%) firmed, ahead of Aug 27-29 Jackson Hole symposium. AMZN, WMT, LLY, NVDA, MSFT, AVGO, XLE, OXY & 9988.HK are our Core Recommendations; GOOGL is our Trading Buy.
Americas
Trump crypto push lifts digital-asset shares. Coinbase (COIN +7.58%), Strategy (MSTR +7.81%), Circle (CRCL +6.45%), Canaan (CAN +16.16%) and Robinhood (HOOD -0.7%) rose as Bitcoin topped USD 70,000 after Trump urged passage of the Clarity Act. Crypto, AI and betting firms have also become major 2026 political donors, with congressional-race spending reaching USD 517 mn through 1Q26. (Bloomberg)
Treasury may boost bond buybacks further. US Treasury Secretary Scott Bessent said buybacks of longer-dated Treasuries could exceed USD 4 bn per operation after the Treasury doubled planned purchases next quarter. The 30-year Treasury yield last stood at 5.24%, about 10 basis points below Tuesday’s peak. (Reuters)
Anthropic targets record-sized IPO. Anthropic expects its potential IPO to match or exceed SpaceX’s (SPCX -4.05%) record offering as it prepares for a possible public filing by end-August. The AI firm raised USD 65 bn in May at a USD 965 bn valuation. (Bloomberg)
Consumer concerns weigh on Walmart shares. Walmart (WMT -9.15%) raised its fiscal 2027 net sales growth forecast to 4%-5%, while US e-commerce sales rose 24% and Walmart Connect advertising revenue jumped 43%. Shares fell after the retailer reported its slowest comparable sales growth in six years and warned high gasoline prices could squeeze shoppers. (Reuters) WMT is our Core Recommendation.
Tariff refunds fund Walmart price cuts. Walmart (WMT -9.15%) is using part of its USD2.9bn refund from Trump tariffs overturned by the Supreme Court to cut prices on 11,000 products; its share selloff was instead driven by weaker sales momentum, higher fuel costs and soft guidance. Reuters) WMT is our Core Recommendation.
Google expands cross-border e-commerce support. Google (GOOGL -1.17%) opened its Cross-border E-commerce Acceleration Center in Guangzhou, offering overseas marketing, international brand-building and digital technology services to cross-border e-commerce businesses. The center will support companies in sectors including intelligent manufacturing, gaming, fast fashion and beauty. (Reuters) GOOGL is our Trading Buy.
Broadcom weighs major AI chip financing. Broadcom (AVGO +0.43%) is in talks with lenders to raise more than USD 60 bn in debt for an AI chip financing deal benefiting Anthropic and other firms, with the total raise potentially reaching USD 100 bn. Blackstone (BX -2.58%) and Apollo Global Management (APO -2.73%) are also discussing participation in the financing. (Reuters) AVGO is our Core Recommendation.
Nvidia denies report on China AI chip. Nvidia (NVDA -0.33%) denied a report that it plans to begin shipping a language processing unit tailored for Chinese customers by year-end, saying it has no China-specific LPU product on its roadmap. The denial comes after The Information reported that Nvidia planned small-batch shipments of the AI chip and had already received orders from several customers. (Reuters) NVDA is our Core Recommendation.
Micron plans major US research investment. Micron (MU +3.97%) plans to invest USD 10 bn over the next decade in a new research lab in Boise, Idaho, to advance memory technologies, compute systems and chip manufacturing. The facility, expected to break ground in 2027, comes as AI infrastructure growth drives demand for high-bandwidth memory. (Reuters)
AI gains boost S&P 500 earnings. Alphabet (GOOGL -1.17%) and Amazon (AMZN -2.16%) AI investment gains lifted estimated 2Q S&P 500 earnings growth to 52% yoy versus 33% excluding them, driven by USD 77.1 bn of unrealised gains at Alphabet and USD 53.4 bn of pre-tax other income at Amazon. (Reuters) AMZN is our Core Recommendation; GOOGL is our Trading Buy.
Nvidia expands AI model push with Poolside. Nvidia (NVDA -0.33%) will reportedly pay USD 6 bn to license Poolside’s AI models and hire most of its engineering team, while investing another USD 1 bn at a USD 12 bn valuation. Poolside will remain independent. (Bloomberg) NVDA is our Core Recommendation.
Disney loses bid for urgent FCC hearing. Disney (DIS +0.36%) failed to secure an expedited hearing over the FCC’s review of licenses for its eight ABC stations. A judge set a Sept. 24 filing deadline and early Oct hearing, while the FCC agreed to give 48 hours’ notice before any hearing order. (Reuters)
Anthropic softens enterprise data-retention model. Anthropic plans to let enterprise customers keep required 30-day retained data on their own cloud infrastructure, with Salesforce (CRM -0.32%) among more than 100 customers involved in developing the system. The proposed change follows its June decision to require retention for traffic using advanced models and comes after OpenAI unveiled a safety approach designed to detect misuse without retaining customer data. (Reuters)
Polymarket military wagers draw national-security scrutiny. Research identified 152 Polymarket wallets betting on military and defence events with a 97.2% average win rate and USD8mn of collective profits, raising concerns that apparent insider activity could signal forthcoming US operations to copycat traders or foreign intelligence agencies. (Reuters)
Nebius taps record-scale convertible funding. Nebius (NBIS -1.69%) raised its convertible offering to USD5bn, potentially USD5.75bn, to finance data-centre expansion and AI services for customers including Meta (META -0.04%) and Microsoft (MSFT -0.65%), with Nvidia (NVDA -0.33%) holding about 9.3%. (Reuters) META, MSFT & NVDA are our Core Recommendations.
Greater China
China, Hong Kong stocks rebound on healthcare surge. CSI300 rose 0.09% and HSI gained 0.8% Thurs as healthcare stocks surged following positive cancer-treatment results from Moderna (MRNA -23.55%) and Merck (MRK -2.11%), while tech shares recovered from Wednesday’s selloff. Unitree (688836.SZ -18.7%) fell after soaring in its Shanghai debut. (Reuters)
Robots edge toward an AI breakthrough. Unitree (688836.SZ -18.7%) CEO Wang Xingxing said humanoid robots are nearing a “ChatGPT moment” that could let them perform most tasks in unfamiliar environments from simple voice or text instructions, while the company’s shares fell after surging nearly sixfold on their Shanghai debut. (Reuters)
Shein targets Sept. 1 Hong Kong listing. Shein plans to launch its Hong Kong IPO on Aug. 24 and target a Sept. 1 listing, with a valuation of USD 26-27 bn. UBS (UBSG SW -0.37%) asset management arm is among the cornerstone investors. (Reuters)
Alibaba profit tumbles on AI spending. Alibaba (9988.HK +1.61%; BABA +1.26%) revenue rose 45% and capex jumped 75%. CEO Eddie Wu said Alibaba aims to replace commercial chips in its data centres with its own T-head chips to boost margins. (Reuters) 9988.HK is our Core Recommendation.
Ping An profit rises on investment gains. Ping An (2318.HK -0.37%) 1H net profit rose 36% yoy to CNY 92.6 bn, while operating profit increased 8.3%. Total investment income jumped 42% to CNY 136.9 bn, with realized and unrealized investment gains rising about 20-fold to CNY 60.4 bn. (Bloomberg)
Ant profit flattens as AI spending rises. Ant Group contributed CNY 1.56 bn of profit to Alibaba (9988.HK +1.61%; BABA +1.26%), implying quarterly profit of about CNY 4.7 bn as higher AI, healthcare and payments investment weighed on growth. (Bloomberg) 9988.HK is our Core Recommendation.
Ant International upgrades AI model for banks. Ant International launched Falcon Time-Series Transformer Model 2.0 and partnered with six major banks, including Citi (C -2.42%), HSBC (0005.HK -0.56%; HSBA LN +0.36%) and StanChart (2888.HK -1.37%), as financial institutions accelerate AI adoption to manage liquidity risks. The model is tailored to financial applications and aims to address gaps in general-purpose AI models. (Reuters) 0005.HK is our Core Recommendation.
Pop Mart warns of 2026 sales-target miss. Pop Mart (9992.HK +2.13%) said it will likely miss its 20% full-year sales-growth target as overseas momentum cools and inventory builds, with Labubu sales normalizing after last year’s surge. The company plans a CNY 2-5 bn share buyback within six months while continuing new product launches. (Bloomberg)
Kuaishou drops on weak 3Q outlook. Kuaishou (1024.HK -11.01%) plunged Thurs after weak 3Q guidance and a halving of full-year profit guidance triggered analyst downgrades, amid soft macro conditions and tighter live-streaming e-commerce regulation. Morgan Stanley cut the stock to equal-weight and lowered its target price to HKD 40 from HKD 65. (Bloomberg)
NetEase 2Q profit misses estimates. NetEase (9999.HK -0.51%) 2Q adjusted net income per ADS was CNY 12.02, below the CNY 15.59 consensus, while revenue rose above expectations to CNY 30.11 bn. Games revenue reached CNY 25.02 bn versus CNY 24.28 bn expected, helping gross profit beat estimates at CNY 21.22 bn. (Bloomberg)
Xiaomi unveils new-generation humanoid robot. Xiaomi (1810.HK +1.17%) unveiled its next-generation humanoid robot CyberOne at the 2026 World Robot Conference, with the robot standing 1.7 metres tall and weighing 66 kg. CyberOne has begun trial roles in logistics operations at Xiaomi’s final assembly workshop, achieving a 90% success rate in sorting and recycling tasks. (Reuters)
Baidu launches autonomous rides in Dubai. Baidu (9888.HK +2.45%; BIDU -0.97%) said its fully driverless Apollo Go vehicles have begun autonomous ride-hailing services for Uber passengers in selected areas of Dubai, marking the first implementation of a long-term strategic partnership. The companies plan to deploy thousands of Apollo Go vehicles across multiple global markets. (Reuters)
AIA posts 10% rise in new business value. AIA (1299.HK -0.34%) reported a 10% increase in 1H value of new business to USD 3.21 bn, with Hong Kong operations also posting 10% growth, driven by strong demand from local and mainland Chinese customers. The insurer declared an interim dividend of HKD 0.539 per share and said it remained confident in its growth outlook. (Reuters)
CK Hutchison seeks over USD 1.5 bn from Panama. CK Hutchison (0001.HK +0.22%) launched international arbitration against Panama, seeking more than USD 1.5 bn in damages over measures it says destroyed its port concessions at Balboa and Cristóbal. The dispute complicates its planned sale of dozens of ports to a consortium including BlackRock (BLK -1.65%) and Mediterranean Shipping Company. (Reuters)
China-Switzerland trade deal removes most tariffs. China and Switzerland agreed a new trade accord granting tariff-free treatment to 99.8% of current Swiss exports to China, including watches, pharmaceuticals and precision instruments. The deal also improves market access for Swiss investors and tightens labor and environmental provisions. (Bloomberg)
Asia ex. China
Samsung plans USD 72 bn shareholder return. Samsung (005930.KS +6.02%) is set to announce a shareholder return programme worth more than USD 71.75 bn later this month, including a special dividend and plans to return 50% of free cash flow. The plan is expected to be approved at a board meeting as the chipmaker benefits from an AI-driven memory boom. (Reuters)
SK Hynix surges on capital returns as workers take stock bonuses. SK Hynix (000660.KS +5.3%; SKHY +4.43%) announced a KRW40tn buyback and cancellation and pledged more than 50% of 2025-27 free cash flow for shareholder returns, while workers tentatively agreed to receive 60% of 2026 bonuses in shares rather than cash. (Reuters) SKHY is our Trading Buy.
EMEA and Others
European shares edge lower on oil worries. The Stoxx 600 fell 0.12% Thurs, extending its losing streak to seven sessions. Germany’s DAX and France’s CAC 40 also declined 0.41% and 0.57% respectively while UK's FTSE edged up 0.04%. Energy stocks rose as oil prices climbed, while travel and leisure stocks fell, with JD Sports (JD LN -14.32%) plunging after cutting its FY27 profit outlook after a slump in 2Q revenue. (Reuters)
StanChart clients turn to hedge funds amid volatility. Standard Chartered (STAN LN -0.05%; 2888.HK -1.37%) is helping wealth clients allocate part of their portfolios to hedge funds as market volatility rises. The bank said strategies such as equity market-neutral and multi-strategy funds can provide stable, low-correlated returns and help investors navigate choppy markets. (Reuters)
Siemens devices face active cyber threat warning. Siemens (SIE GR -0.43%) said it had detected no increase in cyberattacks or previously unknown vulnerabilities after US agencies warned its S7 Series controllers were under active threat. The advisory said the devices could be targeted across manufacturing, energy, water, chemicals and food sectors. (Reuters)
Traders’ corner
Our Technical View
Price printed a shooting star candlestick pattern following a clear rejection at the resistance zone.
Although the RSI remains above its neutral 50-midline, the long upper shadow highlights an abrupt intraday loss of buyer control at key levels.
A confirmed bearish follow-through close today would validate this reversal structure, setting the stage for a corrective move lower towards lower support floors.
Our Technical View
Price staged a decisive breakout from a bull flag consolidation range yesterday, creating a rising window gap that confirms aggressive buy-side demand.
The RSI pivots upward from its neutral 50-midline into positive territory.
This signals structural strength, pointing toward a sustained continuation move higher.
S&P 500 fell 0.87% Thurs, contributed by declines in AAPL -1.75%, AMZN -2.16%, WMT -9.15%, LLY -2.81%, GOOGL -1.17%, GOOG -1.02%, NVDA -0.33% & MSFT -0.65%, even as MU +3.97% & MRVL +5.79% gained. Walmart’s 2QFY27 comparable sales rose just 2.6% below the 3.8% consensus, marking its first same-store sales miss in at least five years. Meanwhile, Alibaba (9988.HK +1.61%; BABA +1.26%) fell Thurs after 1QFY27 net profit sank 75% yoy and capex rose 75% to RMB67.7bn, as heavy AI spending offset 45% growth in AI cloud and compute revenue. Micron rose on plans to invest USD10bn over the next decade in a Boise AI-memory research lab, with groundbreaking expected in 2027. Nvidia denied that it plans a China-specific LPU (Language Processing Unit) by year-end, contradicting a report that customers had already placed orders. Nvidia reports 2QFY27 earnings Aug 26 (Wed) after-market, with focus is on whether revenue will beat its USD92bn guidance, Data Center growth, margins, Rubin/Vera demand and China revenue. Broadcom (AVGO +0.43%) is in talks to raise more than USD60bn to fund AI chips and infrastructure for Anthropic and other customers. Anthropic is preparing for a potential IPO that could match or exceed SpaceX’s (SPCX -4.05%) USD75bn record offering, after raising USD65bn in May at a USD965bn valuation. Shein is targeting a Hong Kong debut on Sep 1. Crypto-linked shares rallied after Trump urged Congress to pass the Clarity Act, with COIN +7.58%, MSTR +7.81%, CAN +16.16% and HOOD -0.7%, while Bitcoin (XBT +5.25%) gained to hit USD72,633.79. Energy (XLE +0.27%, OXY +2.38%, XOM +0.84%, CVX flat) also gained as oil rose on tougher US sanctions threats against Iran. Gold (XAU +0.02%) held on to USD4,516.58/oz Thurs even as the US 30-year yield rebounded about 5.6bps to 5.248% & dollar (DXY +0.07%) firmed, ahead of Aug 27-29 Jackson Hole symposium. AMZN, WMT, LLY, NVDA, MSFT, AVGO, XLE, OXY & 9988.HK are our Core Recommendations; GOOGL is our Trading Buy.
Americas
Trump crypto push lifts digital-asset shares. Coinbase (COIN +7.58%), Strategy (MSTR +7.81%), Circle (CRCL +6.45%), Canaan (CAN +16.16%) and Robinhood (HOOD -0.7%) rose as Bitcoin topped USD 70,000 after Trump urged passage of the Clarity Act. Crypto, AI and betting firms have also become major 2026 political donors, with congressional-race spending reaching USD 517 mn through 1Q26. (Bloomberg)
Treasury may boost bond buybacks further. US Treasury Secretary Scott Bessent said buybacks of longer-dated Treasuries could exceed USD 4 bn per operation after the Treasury doubled planned purchases next quarter. The 30-year Treasury yield last stood at 5.24%, about 10 basis points below Tuesday’s peak. (Reuters)
Anthropic targets record-sized IPO. Anthropic expects its potential IPO to match or exceed SpaceX’s (SPCX -4.05%) record offering as it prepares for a possible public filing by end-August. The AI firm raised USD 65 bn in May at a USD 965 bn valuation. (Bloomberg)
Consumer concerns weigh on Walmart shares. Walmart (WMT -9.15%) raised its fiscal 2027 net sales growth forecast to 4%-5%, while US e-commerce sales rose 24% and Walmart Connect advertising revenue jumped 43%. Shares fell after the retailer reported its slowest comparable sales growth in six years and warned high gasoline prices could squeeze shoppers. (Reuters) WMT is our Core Recommendation.
Tariff refunds fund Walmart price cuts. Walmart (WMT -9.15%) is using part of its USD2.9bn refund from Trump tariffs overturned by the Supreme Court to cut prices on 11,000 products; its share selloff was instead driven by weaker sales momentum, higher fuel costs and soft guidance. Reuters) WMT is our Core Recommendation.
Google expands cross-border e-commerce support. Google (GOOGL -1.17%) opened its Cross-border E-commerce Acceleration Center in Guangzhou, offering overseas marketing, international brand-building and digital technology services to cross-border e-commerce businesses. The center will support companies in sectors including intelligent manufacturing, gaming, fast fashion and beauty. (Reuters) GOOGL is our Trading Buy.
Broadcom weighs major AI chip financing. Broadcom (AVGO +0.43%) is in talks with lenders to raise more than USD 60 bn in debt for an AI chip financing deal benefiting Anthropic and other firms, with the total raise potentially reaching USD 100 bn. Blackstone (BX -2.58%) and Apollo Global Management (APO -2.73%) are also discussing participation in the financing. (Reuters) AVGO is our Core Recommendation.
Nvidia denies report on China AI chip. Nvidia (NVDA -0.33%) denied a report that it plans to begin shipping a language processing unit tailored for Chinese customers by year-end, saying it has no China-specific LPU product on its roadmap. The denial comes after The Information reported that Nvidia planned small-batch shipments of the AI chip and had already received orders from several customers. (Reuters) NVDA is our Core Recommendation.
Micron plans major US research investment. Micron (MU +3.97%) plans to invest USD 10 bn over the next decade in a new research lab in Boise, Idaho, to advance memory technologies, compute systems and chip manufacturing. The facility, expected to break ground in 2027, comes as AI infrastructure growth drives demand for high-bandwidth memory. (Reuters)
AI gains boost S&P 500 earnings. Alphabet (GOOGL -1.17%) and Amazon (AMZN -2.16%) AI investment gains lifted estimated 2Q S&P 500 earnings growth to 52% yoy versus 33% excluding them, driven by USD 77.1 bn of unrealised gains at Alphabet and USD 53.4 bn of pre-tax other income at Amazon. (Reuters) AMZN is our Core Recommendation; GOOGL is our Trading Buy.
Nvidia expands AI model push with Poolside. Nvidia (NVDA -0.33%) will reportedly pay USD 6 bn to license Poolside’s AI models and hire most of its engineering team, while investing another USD 1 bn at a USD 12 bn valuation. Poolside will remain independent. (Bloomberg) NVDA is our Core Recommendation.
Disney loses bid for urgent FCC hearing. Disney (DIS +0.36%) failed to secure an expedited hearing over the FCC’s review of licenses for its eight ABC stations. A judge set a Sept. 24 filing deadline and early Oct hearing, while the FCC agreed to give 48 hours’ notice before any hearing order. (Reuters)
Anthropic softens enterprise data-retention model. Anthropic plans to let enterprise customers keep required 30-day retained data on their own cloud infrastructure, with Salesforce (CRM -0.32%) among more than 100 customers involved in developing the system. The proposed change follows its June decision to require retention for traffic using advanced models and comes after OpenAI unveiled a safety approach designed to detect misuse without retaining customer data. (Reuters)
Polymarket military wagers draw national-security scrutiny. Research identified 152 Polymarket wallets betting on military and defence events with a 97.2% average win rate and USD8mn of collective profits, raising concerns that apparent insider activity could signal forthcoming US operations to copycat traders or foreign intelligence agencies. (Reuters)
Nebius taps record-scale convertible funding. Nebius (NBIS -1.69%) raised its convertible offering to USD5bn, potentially USD5.75bn, to finance data-centre expansion and AI services for customers including Meta (META -0.04%) and Microsoft (MSFT -0.65%), with Nvidia (NVDA -0.33%) holding about 9.3%. (Reuters) META, MSFT & NVDA are our Core Recommendations.
Greater China
China, Hong Kong stocks rebound on healthcare surge. CSI300 rose 0.09% and HSI gained 0.8% Thurs as healthcare stocks surged following positive cancer-treatment results from Moderna (MRNA -23.55%) and Merck (MRK -2.11%), while tech shares recovered from Wednesday’s selloff. Unitree (688836.SZ -18.7%) fell after soaring in its Shanghai debut. (Reuters)
Robots edge toward an AI breakthrough. Unitree (688836.SZ -18.7%) CEO Wang Xingxing said humanoid robots are nearing a “ChatGPT moment” that could let them perform most tasks in unfamiliar environments from simple voice or text instructions, while the company’s shares fell after surging nearly sixfold on their Shanghai debut. (Reuters)
Shein targets Sept. 1 Hong Kong listing. Shein plans to launch its Hong Kong IPO on Aug. 24 and target a Sept. 1 listing, with a valuation of USD 26-27 bn. UBS (UBSG SW -0.37%) asset management arm is among the cornerstone investors. (Reuters)
Alibaba profit tumbles on AI spending. Alibaba (9988.HK +1.61%; BABA +1.26%) revenue rose 45% and capex jumped 75%. CEO Eddie Wu said Alibaba aims to replace commercial chips in its data centres with its own T-head chips to boost margins. (Reuters) 9988.HK is our Core Recommendation.
Ping An profit rises on investment gains. Ping An (2318.HK -0.37%) 1H net profit rose 36% yoy to CNY 92.6 bn, while operating profit increased 8.3%. Total investment income jumped 42% to CNY 136.9 bn, with realized and unrealized investment gains rising about 20-fold to CNY 60.4 bn. (Bloomberg)
Ant profit flattens as AI spending rises. Ant Group contributed CNY 1.56 bn of profit to Alibaba (9988.HK +1.61%; BABA +1.26%), implying quarterly profit of about CNY 4.7 bn as higher AI, healthcare and payments investment weighed on growth. (Bloomberg) 9988.HK is our Core Recommendation.
Ant International upgrades AI model for banks. Ant International launched Falcon Time-Series Transformer Model 2.0 and partnered with six major banks, including Citi (C -2.42%), HSBC (0005.HK -0.56%; HSBA LN +0.36%) and StanChart (2888.HK -1.37%), as financial institutions accelerate AI adoption to manage liquidity risks. The model is tailored to financial applications and aims to address gaps in general-purpose AI models. (Reuters) 0005.HK is our Core Recommendation.
Pop Mart warns of 2026 sales-target miss. Pop Mart (9992.HK +2.13%) said it will likely miss its 20% full-year sales-growth target as overseas momentum cools and inventory builds, with Labubu sales normalizing after last year’s surge. The company plans a CNY 2-5 bn share buyback within six months while continuing new product launches. (Bloomberg)
Kuaishou drops on weak 3Q outlook. Kuaishou (1024.HK -11.01%) plunged Thurs after weak 3Q guidance and a halving of full-year profit guidance triggered analyst downgrades, amid soft macro conditions and tighter live-streaming e-commerce regulation. Morgan Stanley cut the stock to equal-weight and lowered its target price to HKD 40 from HKD 65. (Bloomberg)
NetEase 2Q profit misses estimates. NetEase (9999.HK -0.51%) 2Q adjusted net income per ADS was CNY 12.02, below the CNY 15.59 consensus, while revenue rose above expectations to CNY 30.11 bn. Games revenue reached CNY 25.02 bn versus CNY 24.28 bn expected, helping gross profit beat estimates at CNY 21.22 bn. (Bloomberg)
Xiaomi unveils new-generation humanoid robot. Xiaomi (1810.HK +1.17%) unveiled its next-generation humanoid robot CyberOne at the 2026 World Robot Conference, with the robot standing 1.7 metres tall and weighing 66 kg. CyberOne has begun trial roles in logistics operations at Xiaomi’s final assembly workshop, achieving a 90% success rate in sorting and recycling tasks. (Reuters)
Baidu launches autonomous rides in Dubai. Baidu (9888.HK +2.45%; BIDU -0.97%) said its fully driverless Apollo Go vehicles have begun autonomous ride-hailing services for Uber passengers in selected areas of Dubai, marking the first implementation of a long-term strategic partnership. The companies plan to deploy thousands of Apollo Go vehicles across multiple global markets. (Reuters)
AIA posts 10% rise in new business value. AIA (1299.HK -0.34%) reported a 10% increase in 1H value of new business to USD 3.21 bn, with Hong Kong operations also posting 10% growth, driven by strong demand from local and mainland Chinese customers. The insurer declared an interim dividend of HKD 0.539 per share and said it remained confident in its growth outlook. (Reuters)
CK Hutchison seeks over USD 1.5 bn from Panama. CK Hutchison (0001.HK +0.22%) launched international arbitration against Panama, seeking more than USD 1.5 bn in damages over measures it says destroyed its port concessions at Balboa and Cristóbal. The dispute complicates its planned sale of dozens of ports to a consortium including BlackRock (BLK -1.65%) and Mediterranean Shipping Company. (Reuters)
China-Switzerland trade deal removes most tariffs. China and Switzerland agreed a new trade accord granting tariff-free treatment to 99.8% of current Swiss exports to China, including watches, pharmaceuticals and precision instruments. The deal also improves market access for Swiss investors and tightens labor and environmental provisions. (Bloomberg)
Asia ex. China
Samsung plans USD 72 bn shareholder return. Samsung (005930.KS +6.02%) is set to announce a shareholder return programme worth more than USD 71.75 bn later this month, including a special dividend and plans to return 50% of free cash flow. The plan is expected to be approved at a board meeting as the chipmaker benefits from an AI-driven memory boom. (Reuters)
SK Hynix surges on capital returns as workers take stock bonuses. SK Hynix (000660.KS +5.3%; SKHY +4.43%) announced a KRW40tn buyback and cancellation and pledged more than 50% of 2025-27 free cash flow for shareholder returns, while workers tentatively agreed to receive 60% of 2026 bonuses in shares rather than cash. (Reuters) SKHY is our Trading Buy.
EMEA and Others
European shares edge lower on oil worries. The Stoxx 600 fell 0.12% Thurs, extending its losing streak to seven sessions. Germany’s DAX and France’s CAC 40 also declined 0.41% and 0.57% respectively while UK's FTSE edged up 0.04%. Energy stocks rose as oil prices climbed, while travel and leisure stocks fell, with JD Sports (JD LN -14.32%) plunging after cutting its FY27 profit outlook after a slump in 2Q revenue. (Reuters)
StanChart clients turn to hedge funds amid volatility. Standard Chartered (STAN LN -0.05%; 2888.HK -1.37%) is helping wealth clients allocate part of their portfolios to hedge funds as market volatility rises. The bank said strategies such as equity market-neutral and multi-strategy funds can provide stable, low-correlated returns and help investors navigate choppy markets. (Reuters)
Siemens devices face active cyber threat warning. Siemens (SIE GR -0.43%) said it had detected no increase in cyberattacks or previously unknown vulnerabilities after US agencies warned its S7 Series controllers were under active threat. The advisory said the devices could be targeted across manufacturing, energy, water, chemicals and food sectors. (Reuters)
Traders’ corner
Our Technical View
Price printed a shooting star candlestick pattern following a clear rejection at the resistance zone.
Although the RSI remains above its neutral 50-midline, the long upper shadow highlights an abrupt intraday loss of buyer control at key levels.
A confirmed bearish follow-through close today would validate this reversal structure, setting the stage for a corrective move lower towards lower support floors.
Our Technical View
Price staged a decisive breakout from a bull flag consolidation range yesterday, creating a rising window gap that confirms aggressive buy-side demand.
The RSI pivots upward from its neutral 50-midline into positive territory.
This signals structural strength, pointing toward a sustained continuation move higher.
Disclosures and disclaimers
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
