Middle East tensions remained elevated, while sharp post-results downswings in Alphabet Inc. (GOOGL.US) and Tesla, Inc. (TSLA.US) weighed on the three major US stock indices, which fell about 1-2%.

Dampened by external market weakness, the HSI opened down 278 pts this morning (24th) and remained subdued throughout the session. The index once dived nearly 400 pts to an intraday trough of 24,812 before closing at 24,963, down 247 pts or 0.98%. Total market turnover for the day shrank to HKD209.877 billion. The HSCEI closed at 8,271, down 81 pts or 0.98%. The HSTECH closed at 4,629, down 68 pts or 1.47%.

Hong Kong-listed tech shares echoed the weakness in overseas technology stocks. TENCENT (00700.HK) closed down 2.38%; BABA-W (09988.HK) slumped 4.26%; BIDU-SW (09888.HK) and KUAISHOU-W (01024.HK) each slid more than 2%.

Solar and glass sectors saw more notable declines. XINYI GLASS (00868.HK) closed down 5.14%, making it the worst-performing blue chip; XINYI SOLAR (00968.HK) tumbled 4.09%. Rising expectations for US interest rate hikes also dragged down resource and metal stocks broadly. CMOC (03993.HK) fell off 4.49%; CHALCO (02600.HK) and ZIJIN MINING (02899.HK) shed more than 3%; CHINAHONGQIAO (01378.HK) slipped 2.67%. Gold jewelry stocks came under pressure, with LAOPU GOLD (06181.HK) cratering 4.29%; CHOW TAI FOOK (01929.HK) closed down 2.32% for the day after Daiwa downgraded the stock to Outperform.

Hong Kong and Mainland Chinese property developers were also suppressed by interest rate hike concerns. CHINA RES LAND (01109.HK), LONGFOR GROUP (00960.HK) and HANG LUNG PPT (00101.HK) each lost more than 3%; CHINA OVERSEAS (00688.HK) lost 2.06%; SHK PPT (00016.HK) also faded 1.87%.

BOC HONG KONG (02388.HK) set a record high, rising against the broader market by 5.98% to close at HKD51.25, after JPMorgan upgraded the stock to Overweight and raised its TP to HKD53.3; BANK OF E ASIA (00023.HK) also shot up 6.03%. However, international banks were softer, with HSBC HOLDINGS (00005.HK) dipping 0.06% and STANCHART (02888.HK) falling 1.15%.
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Featuring humanoid robots with 41 degrees of freedom, pipe‑inspection robots with ±1mm positioning accuracy, and 51 industrial‑grade AI agents

SHANGHAI, July 24, 2026 /PRNewswire/ -- Operations in high-end equipment manufacturing often involve confined spaces, complex objects, and fine manipulation tasks that demand sustained and stable precision. At the recent 2026 World Artificial Intelligence Conference and High-Level Meeting on Global AI Governance (WAIC 2026), Shanghai Electric (SEHK: 02727, SSE: 601727) showcased its comprehensive portfolio of embodied intelligence solutions tailored to a range of industrial scenarios.

Themed "AI for All: Smart Squad, Shining Without Limits," Shanghai Electric highlighted its capabilities across embodied AI robots, robot core components, and AI-native smart factory solutions, demonstrating end-to-end capabilities spanning complete robot systems, critical parts, industrial software, and smart factory architecture.

"The true value of embodied intelligence lies in understanding real industrial tasks: combining the strength, precision, and stability of machines with human experience and judgment to drive a genuine paradigm of 'machine-assisted, human-machine collaboration,'" said Wang Chunlei, deputy general manager of the Robotics Business Unit at Shanghai Electric Automation Group.

Shanghai Electric's robotics portfolio covers five key industrial scenarios: connector insertion, electrical operations, flexible sorting, intelligent assembly, and pipe processing. Highlights include:

• "SUYUAN" bipedal humanoid robot: With 41 degrees of freedom for enhanced mobility, it is equipped with a multimodal visual sensing system on the head and torso, along with a dual-battery hot-swap system. It is well-suited for inspection, material handling, and assembly tasks.
• "TUOYUAN" industrial wheeled humanoid robot: Powered by an embodied intelligence foundation model and force-position hybrid control, it is capable of multi-spec connector insertion, material sorting, and loading/unloading of automotive sheet metal parts.
• "Mermaid" bionic wheeled humanoid robot: Capable of autonomously identifying buttons, knobs, and air switches, it generates real-time operation paths.
• Autonomous pipe inner-wall chamfering robot: Designed for confined spaces, it can position and process thousands of hole edges with accuracy within 1 millimeter while transmitting data in real time.

Shanghai Electric also showcased its portfolio of core components ranging from power-output to end effectors. Among them, the planetary roller screw offers more than three times the load capacity of traditional ball screws, while the DexHand dexterous hand is designed to meet diverse gripping and manipulation requirements.

Shanghai Electric launched 51 AI models and agents under its "StarCloud Intelligent Manufacturing" series across three domains: R&D and design, production and manufacturing, and operations and maintenance—covering critical equipment processes such as process optimization and wind power facility maintenance.

These industrial agents are embedded in robotic decision-making systems and the operational logic of AI-native smart factories, transforming industrial expertise into digitized, reusable capabilities. They support production-line scheduling, quality inspection, and predictive maintenance, driving the evolution of manufacturing systems from experience-driven to data-driven operations.

Shanghai Electric also released the "AI-Native Smart Factory Technology White Paper," proposing an active evolution architecture that enables real‑time, closed‑loop optimization of production data, giving the factory self‑perception, self‑decision, and self‑execution capabilities. Built on First Principles, the AI‑native smart factory vertically integrates process flows, industrial software, agents, and smart equipment to dismantle traditional hierarchies while horizontally bridging data silos. The architecture features three core layers: the AI factory brain as the "control center," industrial agents and embodied robots as the "execution network," and the physical twin as the "digital mirror."

Leveraging its deep industrial expertise and comprehensive solution capabilities, Shanghai Electric will continue to drive the implementation of AI in industrial settings, tackle technical challenges facing embodied intelligence in complex scenarios, accelerate the large‑scale deployment of AI‑native smart factories, and deliver replicable solutions across diverse manufacturing environments.

CHANGSHA, China, July 24, 2026 /PRNewswire/ -- Zoomlion Heavy Industry Science & Technology Co., Ltd.'s ("Zoomlion" or "the Company") service teams across multiple product lines, including engineering cranes and construction hoisting machinery, have continued to support customers in multiple international markets this summer. Equipment delivery, emergency repairs, compliance work, and exhibition support under high-temperature conditions in Europe, along with tower crane safety training in Saudi Arabia, reflect how Zoomlion is translating its "MORE THAN YOU CARE" service commitment into practice through day-to-day customer support and full-lifecycle equipment services.

Zoomlion continues to strengthen its localized service network and spare parts support across Europe. During the summer heat, it also provided frontline teams with heat-protection supplies and logistical support. In the Netherlands, the service team supported the delivery of a ZCT100 crane under challenging high-temperature conditions and carried out detailed inspections and adjustments to help ensure the machine entered service in optimal operating condition. Also in the Netherlands, the team completed RDW-related compliance adjustments and maintenance for a ZAT1600 all-terrain crane helping the customer meet local operating requirements while protecting equipment reliability and asset value.

In Bosnia and Herzegovina, a large ZAT1200 crane working at a chemical plant experienced a boom fault that interrupted operations. Zoomlion's service engineer traveled to the site, identified the fault, and completed repairs and commissioning work, allowing the machine to return to service quickly and helping to reduce downtime for the customer. In Turkey, the team responded to an outrigger extension and retraction fault on a customer's ZRT1100, completing on-site repairs and adjustments to restore the machine's operating performance.

Zoomlion's service support also extended to exhibition operations. In Spain, service engineers supported equipment setup, commissioning, and on-site readiness at an industry exhibition in Zaragoza, helping ensure the Company's crane products were presented in stable operating condition.

Beyond Europe, Zoomlion's construction hoisting machinery service team recently carried out a "MORE THAN YOU CARE" service campaign at the Seven project in Dammam, Saudi Arabia. The team provided specialized tower crane safety training for 23 on-site personnel, including operators, signalers, safety managers, and installation staff. Through a combination of theoretical instruction and on-site guidance, the training helped strengthen safety awareness, standardize operating practices, and support safer project execution.

Zoomlion will continue strengthening its global service network, spare parts capabilities, and local teams to deliver reliable full-lifecycle support and greater value to customers worldwide.

The "Magnificent 7" suffered their biggest single-day slump in stock prices overnight (23rd) since tariff threats in April 2025, losing USD797 billion in market cap, as major Wall Street firms grew concern over massive spending by major technology companies in the AI sector.

Meanwhile, the reignited Iran conflict also cast a shadow over the global macroeconomic outlook. The Roundhill Magnificent Seven ETF (MAGS.US), which tracks the "Magnificent 7", plunged 4.6% overnight (23rd).

Earnings released by Alphabet Inc. (GOOGL.US) and Tesla, Inc. (TSLA.US) after the close on Wednesday (22nd) sparked panic among traders and raised doubts over whether the AI-driven trade that propelled equities higher over the past three years can sustain.

Alphabet raised its capex forecast for this year to as much as USD205 billion, whereas Tesla CEO Elon Musk also said this year would be a year of massive capex.

Tesla, Inc. (TSLA.US) cascaded 14.5%, marking its worst single-day performance since March 2025, while Alphabet nosedived 7.1%, its largest decline since May 2025. Microsoft Corporation (MSFT.US) dropped 2.2%, Amazon.com, Inc. (AMZN.US) slumped 4.6%, and Meta Platforms, Inc. (META.US) also slid 3.4%. All three companies are scheduled to release earnings next week.
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As oil prices advance, investors are increasingly preparing for a Federal Reserve rate hike.

According to CME's FedWatch tool, federal funds rate futures indicate that the probability of the Fed raising rates at its September policy meeting is about 82%, up from less than 53% a week ago.

The market still generally expects the Fed to keep interest rates unchanged at 3.50-3.75% at next week's meeting. Even so, expectations for rate hikes have reinforced, with federal funds rate futures trading implying a nearly 38% probability of a 0.25-ppt rate hike, compared with less than 12% a week earlier.

Global crude benchmark Brent oil futures climbed above USD100 per barrel on Thursday for the first time since late May, as a new round of retaliatory attacks between the US and Iran escalated. AAA data showed that average US gasoline prices rose to USD4 per gallon this week, the highest level in more than a month.
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AASTOCKS Financial News
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SHANGHAI, July 23, 2026 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company"), a leading and fast-growing express delivery company in China, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2026 and its unaudited interim financial results for the half year ended June 30, 2026, after the U.S. market closes on August 18, 2026.

ZTO's management team will host an earnings conference call at 8:30 P.M. U.S. Eastern Time on Tuesday, August 18, 2026, which is 8:30 A.M. Beijing Time on Wednesday, August 19, 2026.

Dial-in details for the earnings conference call are as follows:

A replay of the conference call may be accessible through August 24, 2026 by dialing the following numbers:

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://zto.investorroom.com.

About ZTO Express (Cayman) Inc.

ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company") is a leading and fast-growing express delivery company in China. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network coverage in China.

ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.

For more information, please visit http://zto.investorroom.com.

For investor inquiries, please contact:

Investor Relations
Tel: (86) 21 5980 4508
Email: [email protected]

Chinese server customers are signing long-term procurement commitments for CPUs with US chip giants Intel Corporation (INTC.US) and Advanced Micro Devices, Inc. (AMD.US), Reuters, citing sources, reported.

The long-term agreements under discussion reportedly usually lock in procurement volumes rather than prices, report said. Most agreements are supply commitments of around one year, although Intel and AMD are also discussing two-year or longer commitments with some customers.
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Tesla, Inc. (TSLA.US) CEO Elon Musk said Micron Technology, Inc. (MU.US) has recently allocated a large amount of memory chips to Tesla, with very reasonable supply terms that help meet the company's chip demand.

The rapid development of global AI systems has driven demand for memory chips. Musk is working on producing in-house semiconductors and has launched a project named Terafab aimed at manufacturing chips at an unprecedented scale.
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AASTOCKS Financial News
Website: www.aastocks.com

Alphabet Inc. (GOOGL.US) and Tesla, Inc. (TSLA.US) kicked off the tech earnings release season on Wednesday (22nd), with one theme swiftly coming up: AI spending is coming under intense market scrutiny.

Both companies reported negative free cash flow in the latest quarter and warned investors that capital expenditures will continue to expand. Although revenue at both companies beat expectations, it failed to prevent after-hours share declines, with Tesla diving 4% and Alphabet slipping more than 3%.

The situation may serve as a warning sign for the tech sector, especially as most other mega-cap tech companies are set to release quarterly results next week. Meta Platforms, Inc. (META.US) and Microsoft Corporation (MSFT.US) will report on Wednesday (29th), while Amazon.com, Inc. (AMZN.US) and Apple Inc. (AAPL.US) will announce earnings the following day (30th).

So far, the AI boom has largely been driven by historic infrastructure spending from a handful of companies, including major investments in model developers such as OpenAI and Anthropic. However, the recent launch of lower-cost open-source models in China, paired with growing caution among US enterprises on AI service spending, has sparked concerns over future returns on such investments.

Before earnings were released on Wednesday, Alphabet shares had already declined for a third consecutive month after surging in April, while Tesla shares were down 11% in July and had lost 17% YTD. The tech-heavy Nasdaq has retreated around 5% since hitting a record high in early June.
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NVIDIA Corporation (NVDA.US) CEO Jensen Huang said the US does not need to fear China's open-source AI models, but should instead fear the expanding wave of restrictions and bans. He said China's AI models are highly impressive and that outstanding open-source models should be adopted.

Earlier, OpenAI and Anthropic accused Chinese rivals of stealing their models and warned that China's open-source models threaten the US lead in the AI sector. However, Huang rejected this view, saying open-source models allow more people to experience AI for the first time, thereby expanding the market size.

Prior to this, Moonshot AI launched its new-generation large language model (LLM) Kimi K3, triggering the most intense AI panic since DeepSeek shook financial markets in January 2025. Kimi K3 combines three rare characteristics: near state-of-the-art performance, substantially lower pricing, and open-source weights that developers can quickly download and customize.

Huang said it is impossible for China to push US companies out of the market, with the probability being zero. He added that Wall Street and the White House have completely misunderstood Kimi K3. He said cheaper open-source models will allow more individuals and enterprises to benefit from AI, while increasing market demand for NVIDIA chips, data centers and computing power.
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