On July 17, Xiaomi repurchased 3.8 million Class B shares for HKD 102 million.

On July 17, SanDisk's stock price recovered a 7% decline and has now turned positive. Micron Technology's pre-market decline narrowed to flat, after previously dropping 5% two hours earlier. SK Hynix's ADR pre-market gains expanded to 4%, after having previously dropped nearly 4%.

The People's Bank of China (PBOC) reported that as of the end of June 2026, foreign institutions hold 3.2 trillion yuan in interbank market bonds, accounting for approximately 1.8% of the total custody volume in the interbank bond market. In terms of bond types, foreign institutions hold 2.01 trillion yuan in government bonds, representing 62.8%; 0.75 trillion yuan in policy financial bonds, accounting for 23.4%; 0.28 trillion yuan in interbank certificates of deposit, making up 8.8%; and 0.16 trillion yuan in other types of bonds, which is 5.0%. (Wall Street Journal)

On July 17, the Islamic Revolutionary Guard Corps (IRGC) issued a statement saying that in response to the US military's attack on non-military targets in southern Iran the previous night, the IRGC launched ballistic missiles and drones in two phases, destroying several US refueling and fighter aircraft. The statement noted that the US military had attacked multiple non-military targets in the southern Iranian port city of Abbas, including bridges, residential areas, and a water pumping station, using military bases in Jordan on the night of the 16th. The statement did not specify the exact timing of the IRGC's counterattack. According to reports from several Iranian media outlets, including Tasnim News Agency, the US military's attacks on that day targeted infrastructure such as airports, bridges, and train stations in southern Iran, resulting in multiple casualties.

The Islamic Revolutionary Guard Corps (IRGC) has released satellite images showing the destruction of US military facilities located in Jordan. (Jinshi)

On July 17, the Hong Kong stock market saw the Southbound Double Long Hynix ETF drop by 20.68%, closing at HKD 44.8, marking a new low since April 24. This represents a 76% decline from its historical high of HKD 193.65 reached on June 25, resulting in a staggering drop of 76% in just 15 trading days. The underlying stock of SK Hynix in the South Korean market has also retreated 38% from its previous high. At a forum hosted by the Korean Chamber of Commerce today, SK Group Chairman Choi Tae-won stated, "The demand for memory chips is growing exponentially, which is why the stock prices of SK Hynix and Samsung Electronics have surged rapidly since last year." When asked about the recent decline in SK Hynix's stock price, he mentioned that stock prices typically rise with market expectations and then correct after an excessive rise. "I believe that the demand for memory chips will continue to exist, so over time, the stock price trend will show an upward trajectory."

On July 17, the China Meteorological Administration officially delivered the "MAZU" Djibouti 2.0 version, an intelligent meteorological early warning solution, to Djibouti at the Meteorology-themed sub-forum of the 2026 World Artificial Intelligence Conference and High-Level Meeting on Global AI Governance. The 2.0 version is expected to be implemented in Djibouti by the end of this year. This solution can be replicated and promoted in cities, ports, airports, new energy stations, tourist attractions, and other weather-sensitive areas in different countries. Leveraging the China Meteorological Administration's "menu-style supply and customized service" platform, it provides an integrated intelligent "measurement-report-warning" solution for more developing countries, actively supporting the United Nations' Global Early Warning Initiative. (Xinhua News Agency)

On July 17, UBS projected that the capital expenditure of hyperscale cloud providers will soar by 76% this year to $673 billion, but the growth rate is expected to slow to 25% next year, and by 2028, the growth rate will further decline to just 6%.

On July 17, Axios reported that former officials from the Obama and Biden administrations are launching a public policy initiative aimed at defining the center-left's stance on artificial intelligence. With the U.S. midterm elections approaching, Democrats across the country are taking action on AI, including advocating for a moratorium on data center construction and running for office with AI safety as part of their campaign platforms. The American Innovation Policy Forum revealed that it is working to shape the Democratic vision for AI ahead of the 2028 election. The organization plans to hold a series of consultations nationwide to understand community concerns about AI and relay this feedback to Washington. These discussions will form the basis for policy recommendations, with forum researchers planning to brief congressional members starting this fall. Officials who held senior positions in the Obama and Biden administrations, as well as experts from related fields, will form an advisory committee to provide policy guidance for this initiative and the forum's researchers. Alex Roark, founder of the forum and a former FCC official during the Biden administration, cited Utah as an example where a data center construction plan was announced and then retracted, reflecting the consequences of not adequately involving the community in the decision-making process. He stated, 'In the same month that this project was proposed, the governor was on television urging all residents, 'We are experiencing an unusually severe heat wave, and everyone needs to conserve water.' Yet, at the same time, they were advancing the largest data center project in U.S. history.' He emphasized that the organization aims to explore how long-term AI policy in the U.S. should be formulated—not only concerning data center construction but also encompassing broader AI regulation, ultimately establishing a national policy framework. The American Innovation Policy Forum is expected to announce the first batch of forum researchers in the coming weeks.

On July 17, U.S. corporate executives are selling stocks at the second-fastest rate in over 20 years. For some investors, this is a typical warning sign, as it indicates that those most familiar with the company's operations are cautious about the current market. According to data from EPFR Global Market Intelligence, insiders in U.S. companies sold a total of $77.6 billion in stocks in the first half of 2026, a 20% increase compared to the same period last year. The only larger sell-off in the past two decades occurred in 2021, driven by massive stimulus funds during the pandemic. EPFR analyst Winston Chua and others wrote in their report, 'Insider trading behavior indicates that corporate executives do not have a strong desire to increase their stock holdings at current valuation levels.' Additionally, insider buying activity remains sluggish. In the first half of 2026, they purchased only $6.9 billion worth of company stocks, slightly above the seven-year low of $6.7 billion recorded in the same period last year.