On July 29, U.S. President Donald Trump stated that the U.S. would deliver a strong response after the U.S. military intercepted an Iranian ballistic missile attack on Jordan that evening. In an interview with Fox News on Wednesday morning local time, Trump said, 'We will hit them very hard... We will strike them forcefully, and they will suffer a heavy blow.' Trump noted that the U.S. military had only a few minutes to respond to the sudden attack and successfully intercepted all incoming missiles before they could hit their targets. He said he watched a video of the interception operation, which showed U.S. personnel reporting missile coordinates in real-time during the interception. Trump also stated that the U.S. military's night-time strikes against Iran-backed Iraqi Shiite militia groups, carried out in coordination with Saudi Arabia, were conducted after consultation with the Iraqi government. He described these militia groups as 'a cancer on the world' and said the U.S. is considering further warnings to Iranian proxy forces. (Jin Shi)

On July 29, after Trump commented on the Iran issue, crude oil futures hit intraday highs, while S&P 500 futures and Nasdaq 100 futures turned lower.

International crude oil prices surged in the short term, with WTI crude rising 6.00% intraday, now at $83.02 per barrel. Brent crude is currently up about 5.5% at $86.7 per barrel. (Jin Shi)

Market data shows that S&P 500 Index futures and Nasdaq 100 Index futures have turned lower. (Jinshi)

On July 29, the General Office of the CPC Shenzhen Municipal Committee and the General Office of the Shenzhen Municipal People's Government recently issued the "Implementation Plan for Accelerating the Development of New Quality Productive Forces and Further Cultivating and Strengthening Strategic Emerging Industry Clusters and Future Industries." The plan proposes to use high-quality smart manufacturing and brand building as engines to enhance the "depth of presence" in the global market. It aims to accelerate the integration of artificial intelligence with technologies such as low-altitude flight, additive manufacturing, and brain-computer interfaces, and to promote product innovation, enriching the development of AI terminal products including AI phones, AI glasses, and smart wearables. It also seeks to accelerate the application of advanced quality technology innovation and promote a leap in the quality of key products. In emerging fields such as artificial intelligence, the low-altitude economy, and autonomous driving, efforts will be made to formulate more national and international standards. (Jinshi)

July 29 – GigaDevice (603986.SH) announced that its shareholder Zhu Yiming reduced his holdings by a total of 11.1106 million shares (representing 1.58% of total share capital) through centralized auction and block trade from May 6 to June 12, 2026, with a total reduction amount of approximately 4.4 billion yuan. After the completion of the reduction plan, Zhu Yiming and his concert party Hong Kong Yingfude Co., Ltd. collectively hold 47.7009 million shares, representing 6.80% of total share capital. Zhu Yiming pledged not to reduce his holdings of the company's shares for 12 months starting from July 29, 2026.

On July 29, South Korea's Ministry of Finance stated that the country is committed to taking additional measures to stabilize the stock market, including restrictions on leveraged ETF trading. Specifically, regulators will limit retail investors' exposure to leveraged ETF investments.

On July 29, GigaDevice announced that it received a letter from Chairman Zhu Yiming proposing the repurchase of the company's A-shares. The total amount of funds for the proposed repurchase is no less than RMB 1 billion (inclusive) and no more than RMB 2 billion (inclusive). The repurchased shares will all be used for cancellation and to reduce registered capital. The repurchase price will not exceed 150% of the average trading price of the company's shares in the 30 trading days prior to the board's resolution on the share repurchase. (Jin Shi)

On July 29, J.P. Morgan stated that the large-scale deleveraging experienced by the South Korean stock market since mid-June indicates that the unwinding of leveraged ETFs has largely been completed, with hedge funds having executed about 90% of the deleveraging process and leverage levels having fallen back to a more reasonable range. J.P. Morgan strategists, including Mixo Das, wrote in a report that, taken together, the current positioning in the South Korean stock market is quite attractive, with low valuations and strong earnings growth momentum. "With the market correction, the scale of such funds has now dropped to $17 billion," the report said, noting that the rapid inflow of funds into leveraged ETFs has notably slowed in recent days. However, the recent plunge in stock prices could still trigger further deleveraging in the coming days. At the same time, many investors remain cautious given the risk of a rate hike at the Federal Open Market Committee meeting and high expectations for upcoming earnings reports from mega-cap tech companies.