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Onshore yuan closed at 6.7993 per USD at 16:30 on July 8, weakening 37 pips (0.0037) versus the previous trading day.

2026-07-08

Onshore yuan closed at 6.7993 per USD at 16:30 on July 8, weakening 37 pips (0.0037) versus the previous trading day.

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2026-07-08

Morningstar analyst Chelsey Tam said China’s planned data-center build for government and SOE AI workloads could dent demand for Alibaba’s public-sector cloud and cut Alibaba’s annual cloud-revenue forecast from fiscal 2030 onward by 10%. Morningstar

Morningstar analyst Chelsey Tam said China’s planned data-center build for government and SOE AI workloads could dent demand for Alibaba’s public-sector cloud and cut Alibaba’s annual cloud-revenue forecast from fiscal 2030 onward by 10%. Morningstar lowered its Alibaba ADR fair value by 7% to $241 but still regards the stock as undervalued, saying fears over logistics losses and rising compute costs are overstated. It added Alibaba’s limited US operations mean US Legislative risk should have only a limited impact.
2026-07-08

Hong Kong tech and internet stocks strengthened: SenseTime (00020.HK), Alibaba (09988.HK), Tencent Holdings (00700.HK) and Baidu (09888.HK) rose more than 3%, while Meituan (03690.HK) and Bilibili (09626.HK) gained over 2%.

Hong Kong tech and internet stocks strengthened: SenseTime (00020.HK), Alibaba (09988.HK), Tencent Holdings (00700.HK) and Baidu (09888.HK) rose more than 3%, while Meituan (03690.HK) and Bilibili (09626.HK) gained over 2%.
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