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Futong Technology (00465.HK) surged over 100% in the afternoon.

2026-07-20

Futong Technology (00465.HK) surged over 100% in the afternoon.

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2026-07-20

China Merchants Securities research center says the current correction is structural deleveraging after overcrowding in a single tech theme, not a systemic leverage crisis, and the mid-term repair foundation is gradually consolidating. Market risk cl

China Merchants Securities research center says the current correction is structural deleveraging after overcrowding in a single tech theme, not a systemic leverage crisis, and the mid-term repair foundation is gradually consolidating. Market risk clearing is concentrated: no large‑scale off‑exchange high‑leverage financing; risks are focused on AI and semiconductors, while value sectors are providing strong support, producing a differentiated bottoming pattern described as "growth purges bubbles, value stabilizes the base." The cleanup is in its latter phase: on‑exchange margin financing balances have declined for 11 consecutive trading days and marginal selling pressure is easing; equity ETFs saw record weekly net inflows; previously strong tracks such as optical modules have experienced catch‑down falls, a consistent pattern with late‑stage panic liquidation, limiting systemic scope for further index declines.
2026-07-20

Peskov said Russia is open to dialogue with European countries and has not been the initiator of deteriorating relations.

Peskov said Russia is open to dialogue with European countries and has not been the initiator of deteriorating relations.
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