On July 20, the three major A-share indices declined, with the Shenzhen Component Index falling by 2%, the ChiNext Index down by 1.34%, and the Shanghai Composite Index decreasing by 0.51%.
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Shenzhen Component Index Falls by 2%
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US Announces 50% Tariff on Some Canadian Products
On July 21, the White House issued a statement on July 20 local time saying that the US will impose an additional 50% ad valorem tariff on some Canadian products in response to 'discriminatory measures taken by Canada against the US in the trade of automobiles and auto parts.' The new tariff is said to take effect at 12:01 a.m. Eastern Time on August 19 and will be imposed on top of existing relevant tariffs, taxes, and other charges. -
US Military Launches New Round of Strikes on Iran
On July 21, the U.S. Central Command stated on July 20 local time that at 4:00 p.m. Eastern Time that day, the U.S. military began a new round of strikes on Iran as directed by the president. The U.S. Central Command said the operation aims to further degrade Iran's ability to threaten commercial shipping in the Strait of Hormuz. -
ETH Breaks Through $1900
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BlackRock Plans to Raise Over $12 Billion in Debt for Data Centers
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Google (GOOG.O) Developing 'Frozen V2' Chip
According to The Information: Google (GOOG.O) is developing a 'Frozen V2' chip to more efficiently serve its Gemini AI model. Google's new 'Frozen' chip is expected to be 6 to 10 times more efficient than its existing TPU. Google plans to deploy the Frozen V2 chip as early as 2028. -
China Merchants Securities Terminates Primary Market Making for 6 Funds Including China-Korea Semiconductor
Recently, the Shanghai Stock Exchange announced that, upon the filing application of China Merchants Securities Co., Ltd., China Merchants Securities will terminate its primary market making services for 6 QDII funds starting from July 20, 2026. In response, China Merchants Securities told reporters on the 20th that this is purely a commercial decision and does not involve any judgment on market direction. -
Samsung, SK Hynix, and Micron Abandon In-House CXL Controller Development
On July 20, according to South Korean tech media ZDNet Korea, Samsung Electronics, SK Hynix, and Micron Technology have all scaled back or abandoned commercialization plans for CXL expansion device controllers. Specialized chip design companies such as Montage Technology, Astera Labs, and PrimeMass are filling this void. This shift indicates a reshaping of the division of labor within the CXL ecosystem, where memory manufacturers will focus on production, while design leadership moves to independent chip design firms. For the capital market, this not only benefits relevant chip design companies but also means that the three major memory manufacturers will not engage in new competition around complete CXL solutions in the short term, with their core profit models still revolving around traditional DIMM memory products. -
BitMine Adds 7,430 ETH Last Week, Buys Back Approximately 5.5 Million Common Shares
As of July 19 Eastern Time, BitMine's total holdings of cryptocurrency, cash, and its 'Moon Project' amounted to $11.5 billion. BitMine holds 5,777,468 ETH (an increase of 7,430 ETH from the previous week), representing 4.8% of Ethereum's total supply of 120.7 million ETH. Additionally, it holds 207 BTC, $180 million in Beast Industries shares, $58 million in Eightco Holdings (Nasdaq: ORBS) shares, and $385 million in unencumbered cash. As of July 19, 2026, the total amount of ETH staked by Bitmine is 4,917,189 (valued at $9.2 billion based on ETH price of $1,879 per ETH). Bitmine Chairman Tom Lee stated, 'Bitmine repurchased approximately 5.5 million common shares last week at an average price of $15.6156 per share. We believe that repurchasing common shares will enhance shareholder value.' -
U.S. Media: Trump Administration May Ban Advanced Chinese AI Models, Kimi's Rise Sparks Concerns
On July 20, according to Axios, the Trump administration is signaling that it may ban advanced Chinese AI models—a significant move that could solidify the dominance of OpenAI and Anthropic. Sources familiar with the matter said that within the Trump administration, there had previously been attempts to impose a de facto ban on foreign open-source models. The rise of the Chinese large model Kimi last week has reignited these efforts. -
Starmer Officially Steps Down as UK Prime Minister: My Work is Complete
UK Prime Minister Starmer delivered a farewell speech at Downing Street, stating, "My work is complete. Over the past six and a half years, I have led our party out of the historic defeat of 2019, transforming it into a party capable of facing the nation, and we achieved an overwhelming victory in the 2024 election. Since then, it has been the honor of my life to serve as Prime Minister for you and this great country. I believe that today’s Britain is stronger and fairer than it was two years ago. However, what I will always remember is the humbling aspect of this job, which is being able to witness the greatest things of this country in action from the front row. Every day, I see countless acts of resilience—resilience, perseverance, integrity, and compassion from those who serve the nation." Starmer concluded, "We must remember the greatness of Britain. As we debate how to solve problems, there are certain things we inherit from our nation and character that give us the confidence to believe we can make the country better. We can create a Britain where every child can go further based on their talents, and if we do not succumb to division, we can unite different people under a common banner. Therefore, as I now pass the baton to Andy Burnham, I wish him all the best. He has my full support... I thank the people of Britain for the opportunity to serve. I leave with dignity, I leave with a smile, and I am proud of all we have achieved." (Jinshi)
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