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China A‑share liquid‑cooled server stocks extended losses. Jinfu Technology hit its fourth consecutive limit down; Cambridge Technology, Feilong Co. and Guangxun Technology recorded three straight limit‑down sessions. Daoming Optics, Far East Co., Xi

2026-07-21

China A‑share liquid‑cooled server stocks extended losses. Jinfu Technology hit its fourth consecutive limit down; Cambridge Technology, Feilong Co. and Guangxun Technology recorded three straight limit‑down sessions. Daoming Optics, Far East Co., Xiaosong Co., Fenghua High‑Tech, Dayuan Pump, Xingrui Technology and Aihua Group also touched limit down; Hongfuhan plunged more than 10%, while Zhen'an Technology, Bojie Co., Haorsai, Dongyangguang and Chuanrun Co. followed lower.

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2026-07-21

U.S. Treasury Secretary Bessenter: (Regarding U.S. government funding) We do not need another shutdown.

U.S. Treasury Secretary Bessenter: (Regarding U.S. government funding) We do not need another shutdown.
2026-07-21

Internationally: 1. Goldman Sachs: Brent crude oil prices could break through $120 if tensions in the Middle East continue. 2. Goldman Sachs: Hedge funds are selling US tech stocks at a record pace. 3. Capital Economics: The US Treasury yield curv

Internationally: 1. Goldman Sachs: Brent crude oil prices could break through $120 if tensions in the Middle East continue. 2. Goldman Sachs: Hedge funds are selling US tech stocks at a record pace. 3. Capital Economics: The US Treasury yield curve may invert. 4. Capital Economics: Gold remains valuable as a hedge against a stock market crash. 5. Mitsubishi UFJ: Further significant gains in the pound are unlikely. 6. Commerzbank: The ECB's response to rising energy prices is crucial for the euro. Domestically: 1. UBS Securities: After short-term volatility, we remain optimistic about technology and AI as the main themes for the second half of the year. 2. Galaxy Securities: Moutai has raised prices multiple times this year, signaling a bottoming out of high-end liquor consumption. 3. China Merchants Securities: The market is showing a differentiated bottoming pattern of "growth stocks squeezing out bubbles and value stocks stabilizing." 4. Huatai Securities: External disturbances have triggered technical adjustments, and the market has the conditions for stabilization and rebound. 5. Huaxi Securities: The technology sector is expected to usher in a medium- to long-term investment window. 6. Huachuang Securities: AI support policies, a complete industrial system, and ample policy support provide multiple supports for the market. 7. Yuekai Securities: Short-term overseas risk factors remain, and the market may experience fluctuations and corrections. 8. Kaiyuan Securities: With the economy stabilizing and improving, the technology sector is expected to resume its upward trend in a healthier manner after the adjustment.
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