Weibo (WB.O) reported Q2 adjusted net income of $102.7 mln.

MORGAN STANLEY says Xiaomi Group (01810.HK) reported Q2 adjusted net profit of RMB 6.219 billion, down 43% YoY and up 2% QoQ. Smartphone revenue and gross margin materially beat the bank's expectations; electric vehicle and IoT revenue slightly missed. Management said storage price rises should normalize in H2, which would lessen the negative impact on handset margins. MORGAN STANLEY expects smartphone gross margins to remain resilient in H2 and views this as a potential positive surprise and re-rating catalyst. Firm maintains Overweight rating and HK$32 target price.

Domestic News: 1. A super El Niño event may form this winter, with a high probability of being the strongest on record. 2. Major changes to housing provident funds: withdrawals can be made for home renovations and property management fees; no income threshold is set for renting. 3. The State Financial Regulatory Commission supports mainland insurance institutions investing in Hong Kong exchange-traded funds (ETFs) through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. 4. GigaDevice: Net profit increased by 1091.5% year-on-year in the first half of the year. 5. Taiwanese power semiconductor manufacturers are preparing for a third wave of price increases. 6. Shanghai Stock Exchange: Trading has been suspended for investors involved in abnormal transactions related to Aili Home Furnishings in accordance with regulations. International News: 1. Reports indicate that Anthropic is expected to launch its IPO process within weeks. 2. India is considering lowering import tariffs on sugar to curb soaring domestic sugar prices. 3. Sources: The US-Canada tariff exemption proposal has been submitted to Trump for approval. 4. OpenAI: The company has temporarily slowed down the training of some cutting-edge models for two weeks to enhance security and monitoring. 5. Overnight Market Update—The 10-year US Treasury yield rose to 4.75%, a new high since January last year; spot gold fell nearly 2%, silver fell nearly 4%, SK Hynix fell 9%, and Micron fell 7%. 6. Middle East Situation— ① The UAE announced a suspension of trade, commercial, and financial transactions with Iran. ② The UAE claimed that two ballistic missiles from Iran were fired towards the UAE, targeting maritime traffic. Iran denied this. ③ Israel launched an airstrike on a Syrian military airport. ④ Iranian media: Iran's Supreme Leader will soon preside over a religious event in Tehran. ⑤ Trump: No talks have been held with Iran, and there are no plans for them in the future. ⑥ US officials: Trump instructed his team not to negotiate until Iran is ready to sign an agreement. ⑦ US media: The US is considering reducing its military presence in the Gulf region after the war.