China A-share PCB-related stocks slid; Honghe Technology hit the daily limit down, International Composite Materials and Tongguan Copper Foil fell over 9%, and Tiantong, Zhongfu Circuit and Guanghe Technology dropped more than 8%.

ISRAELI MILITARY said it is working to degrade HEZBOLLAH's infrastructure and to create conditions for offensive operations.

CITIC Securities says current AI and technology-sector trading is very stretched but not yet at historical extremes. The firm attributes the rally to pronounced macro divergence between new and old domestic drivers across investment, production and profits—traditional demand is weakening while AI-related activity is expanding. Similar divergence exists abroad: the US is the epicenter of AI spending and demand, while South Korea is capturing outsized hardware profits; global AI expansion is lifting demand for China’s AI-related products. CITIC’s calculations show this episode differs from four prior concentrated rallies by a stronger macro fundamental split. Because much of China’s production, exports and trading momentum reflects overseas spillovers, the report flags near-term market risks from the persistence of external macro divergence, the degree to which profit expectations are realised, and whether corporate expansion is funded by internal cash rather than debt; over the medium term it highlights the potential for further Chinese AI capex to raise its contribution to GDP growth.