China A-share gear-reducer sector rallied intraday; Zhongda Lide hit the daily limit, while Ruidi Zhiju, Fengguang Precision and Lvde Xiebo advanced.

Sources say that Kazakhstan’s oil and gas condensate production fell 14% in July compared to June due to the disruption of exports from the Caspian Pipeline Alliance.

Domestic News: 1. The People's Bank of China held its 2026 second-half work conference: It will continue to implement a moderately loose monetary policy. 2. The State Administration of Foreign Exchange held its 2026 second-half foreign exchange management work exchange meeting: It will continue to steadily expand institutional opening-up in the foreign exchange field. 3. The China Cotton Association: Opposes US sanctions and suppression of Chinese cotton textile enterprises. 4. State Grid: Electricity load in many areas has reached record highs; multiple measures are being taken to ensure power supply. International News: 1. Brazil's Workers' Party officially confirmed Lula as its presidential candidate. 2. The immigrant crisis in the Spanish enclave of Ceuta has resulted in 72 deaths. 3. OPEC+ agreed to increase September's oil production quota by 188,000 barrels per day. 4. Japanese officials: Japanese Finance Minister Satsuki Katayama will officially announce on Monday a coordinated Japan-US action to curb the yen's depreciation; the intervention is not yet over. 5. Middle East situation— ① Trump: Received a request from Iran and has agreed to cancel the strikes against Iran; the Iranian military called this a "lie." (Trump calls off strikes against Iran for the eighth time) ② Iranian President: The memorandum of understanding with the United States will be the core of our future diplomatic relations. ③ Iranian media: Reports that Iran has agreed to reopen the Strait of Hormuz are fake news. ④ Iranian Foreign Ministry: Negotiations between Iran and Oman are nearing completion. The Strait of Hormuz will not return to its pre-war state, and the reopening issue is unrelated to the Oman negotiations. ⑤ Israel claims Netanyahu learned of the US call to halt strikes against Iran through Trump's social media. ⑥ Iranian Parliament National Security Committee: Mediators are assisting in restoring the memorandum of understanding between Iran and the United States, and all parties have exchanged views on all issues. ⑦ Trump: US-Iran negotiations will begin tomorrow (morning of the 4th Beijing time), and an agreement has been reached on the Strait of Hormuz.