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The most significant event for the Hong Kong market is the State Council's approval of the "Fifteenth Five-Year Plan for Expanding Consumption," which aims to promote the sustained and healthy development of the real estate market and consolidate the stable and positive trend of the capital market.

State Council Approves "15th Five-Year Plan" for Expanding Consumption: The plan targets a social retail sales total of 60 trillion yuan by 2030, focusing on expanding service consumption, upgrading goods consumption, and cultivating experience-based consumption to boost economic growth.
Global AI Sector Resurgence and Stock Market Volatility: Global AI stocks experienced a sharp synchronized decline, dragging down major indices like the Nikkei 225 and A-share benchmarks (ChiNext, Shenzhen), with over 4,600 A-share companies falling while defensive sectors like high-dividend stocks rose.
Strong Half-Year Profit Forecasts in Chemical and Organic Silicon Industries: Driven by rising commodity prices and emerging demand, 73% of A-share companies disclosing half-year profit forecasts reported gains, with the organic silicon and chemical sectors leading the performance surge.
Four Departments Launch Initiative for Internet Infrastructure Quality: The Ministry of Industry and Information Technology, along with three other departments, issued guidelines to improve the quality of core internet resources (IP addresses, domains) and enhance satellite internet infrastructure to support the "Digital China" strategy.
China's Property Sector Faces Significant Headwinds: Major property firms like China Overseas Land and Group reported a 41% year-on-year drop in sales, while insurers like China Life are pivoting to invest heavily in semiconductor industries via new equity funds, signaling a shift from real estate reliance.
Central Bank Injects Liquidity via Reverse Repo Operations: The People's Bank of China conducted a 224 billion yuan 7-day reverse repo operation at a fixed rate of 1.40%, resulting in a net liquidity injection of 21.7 billion yuan to support market stability.
New Regulations on Securities Trading and Market Compliance: New trading rules implemented a week ago have altered market dynamics, while financial regulators issued strict penalties for firms like Hualin Securities over employee management issues, signaling a broader crackdown on compliance.
China's Electric Vehicle and Cooling Appliances Gaining Global Traction: Exports of air conditioners to the EU rose 43.2% due to European heatwaves, and new EV models like Xiaomi's SU7 are selling rapidly, with a 2-hour pickup time, highlighting China's manufacturing competitiveness.
14 Departments Promote Rehabilitation Auxiliary Equipment Industry: A new three-year action plan was released to expand the rehabilitation equipment industry, aiming for a 2028 market structure featuring strong entities, brand upgrades, and innovation-led growth to support the "15th Five-Year Plan" for social welfare.
Inflation Concerns and Central Bank Rate Expectations Rise Globally: Rising oil prices and persistent inflation have increased the likelihood of rate hikes by the Bank of England and European Central Bank, with expectations that the US Federal Reserve may also hike rates in September.

The Tokyo Stock Exchange (TSE) rebounded by 500 yen as investors bought back AI and semiconductor stocks, including key industry players like Kioxia.

The European Central Bank will launch a trial of the "digital euro" starting in late 2027, with staff using mobile payment apps at restaurants and shops.
The Tokyo Stock Exchange (TSE) rebounded by 500 yen, with AI and semiconductor stocks regaining ground, while Kioxia also saw buying interest.
Due to cashless trends reducing the circulation of 1-yen coins, the first mass production of 1-yen coins since 2011 will begin, driven by self-checkout cash needs.
Japan's Minister of Economy, Trade, and Industry will conduct an investigation into the real state of payment agencies following the bankruptcy of "All Japan Payment" and will be cautious about introducing new regulations.
The bankruptcy of "All Japan Payment" prompted an investigation into payment agency operators, with the Minister warning about the risk of increasing merchant fees.
Japan's Minister of Finance aims to enhance the appeal of government bonds by expanding product offerings and accelerating their implementation.
The TSE briefly fell by nearly 1,000 yen, with AI and semiconductor stocks being sold; the morning closing price was 66,678 yen and 36 sen.
The TSE showed a slight rebound, rising by over 200 yen, with investors recognizing undervalued AI and semiconductor stocks and regaining buying interest.
Due to system disruptions, some KFC stores will close or suspend sales of certain products after July 15, with no clear resolution for recovery.
Airbnb's domestic user share reached 50%, with increased dispersion to non-tourist areas and utilization of local revitalization strategies.

The U.S. June CPI fell 0.4%, likely cooling the path toward Fed rate hikes, which sparked a Bitcoin surge.

Mizuho downgraded Circle to "underperform" and cut its price target to $50, citing threats from Open USD.
JPMorgan warned that Hyperliquid's rising adoption poses a significant threat to Circle's USDC economics.
Japan's largest card network has partnered with Circle to introduce stablecoins to 40 million merchants.
The U.S. and UK are aligning regulatory rules for tokenized finance across the world's largest financial markets.
The ECB selected firms including Deutsche Bank and Revolut to participate in the digital euro pilot program.
Fidelity's Lai stated that the real strategic value of tokenization for pension funds is balance-sheet management.
U.S. June CPI fell 0.4%, suggesting a cooling trend that may delay potential Federal Reserve rate hikes.
Hut 8's price target was raised to $165 by Benchmark as its pivot into AI reshapes its valuation.
June CPI data sparked a Bitcoin surge, though a potential Fed rate hike in September remains a looming concern.
The Ethereum Foundation spun off EthSystems to target banks with blockchain-based privacy technology.

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