市场消息：谷歌已收到印度政府的命令，要求将Telegram应用从其Play商店下架，原因是对医疗考试欺诈的担忧。

Ukrainian President Zelenskiy said the G7 supports Ukraine’s accession to the EU and reiterated that all accession negotiation clusters will be opened.

HSBC Research says Chinese internet stocks have lagged YTD on investor concerns about higher AI spending and disruptive AI agents, ongoing regulatory scrutiny and US listings on a military-related entity list, and weak consumption. The bank notes large-cap Chinese internet names trade at a c.47% PE discount to US peers and China AI concepts at c.40%. HSBC flags that market fears of a MaaS token price war may be overblown. It estimates Alibaba’s MaaS business is materially undervalued—using $1.5bn annualised revenue as of June and a 21x P/ARR multiple implies potential value of $13 per share; cloud gross-margin expansion and a possible chip-unit spin-off add upside. HSBC also says external financing of Kuaishou’s Keling unit could be a key catalyst; on $500m ARR and 21–30x P/ARR it implies HK$22–32 per share.