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8/10
22:16
China's A-share commercial aerospace concept stocks collectively fell in early trading on August 11, with China Satellite's share price nearing the daily limit down, and both Chaojie Co., Ltd. and Ruixin Materials experiencing declines of over 10%.
22:14
The Hong Kong index compiler plans to increase the number of Hang Seng Tech Index (HSTECH) constituents from 30 to 50. Under the proposed dual-selection framework, the top 40 stocks will be chosen by market capitalisation, while the remaining 10 will be picked based on revenue.
21:52
Bloomberg reported that regional crude oil inventories at independent refineries in Shandong province, China (i.e., "teapots"), are decreasing, which could incentivize them to increase purchases of Iranian crude. According to Energy Aspects, inventories in the Shandong region have fallen to 360 million barrels, the lowest level in eight months. This move would provide a much-needed boost for Iran after a period of slow sales.
20:48
South Korea's exports rose 45.3% year-on-year to $21.3 billion in the first 10 days of August, driven by strong global demand for memory chips. This marked the highest amount ever recorded for the period. Imports also increased by 23.1% year-on-year to $19.5 billion.
20:29
Tencent Holdings Ltd.'s early success with WorkBuddy may give the Chinese internet giant a chance to catch up after lagging peers in the artificial intelligence race for the past few years.
20:20
Sean Johnstone, a TMT expert for Europe at Goldman Sachs, pointed out in his latest report that HBM (High Bandwidth Memory) and DRAM orders are sold out until 2027, with long-term agreements having price floors and gross margins remaining in the mid-to-high 70% range. He stated that structural AI demand will continue to tighten supply until 2028. However, he also noted that the month-over-month increase in memory chip prices has slowed, and is expected to peak in Q2-Q3 2027, followed by a potential mild and slight decline. Memory costs in NVIDIA's next-generation "Vera Rubin" superchip already account for approximately 62% of the overall bill of materials, and NVIDIA is evaluating HBM stacking solutions with fewer layers to reduce costs. Additionally, Apple is testing products from Chinese memory chip manufacturer CXMT to alleviate memory supply pressure caused by AI demand.
20:04
The tender offer provides liquidity to employees and values the frontier AI lab at the same $852 billion as its most recent fundraising round in March. While OpenAI confidentially filed with the SEC in June for a potential IPO later this year, the tender offer suggests a public offering may not be imminent. This move allows employees to realize stock compensation value without the complexities of an IPO, a common practice for tech companies staying private longer.
19:57
Nick Timiraos, a Federal Reserve correspondent, noted that given recent Fedspeak, the core PCE inflation measure in the next few months could be important in determining whether policymakers maintain their forecast of gradual disinflation with no policy change.
19:15
Currency traders are stepping up bullish options bets on the Taiwan dollar, signaling a shift in sentiment after the currency suffered its worst July since 2015.

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