Onshore renminbi closed at 6.7956 per US dollar at 16:30 on July 7, down 31 pips from the previous session.

French President Macron arrived in Syria on July 7, becoming the first EU head of state to visit since the fall of the Assad regime in 2024. Reconstruction cooperation is the visit’s core focus; TotalEnergies and CMA CGM’s chief executive joined the delegation. Macron is expected to meet President Assad, reiterate French support for a free, pluralistic Syria, and press Syria not to deploy forces to Lebanon. The agenda also covers counterterrorism cooperation and upgrading Franco-Syrian diplomatic ties.

Daiwa cut Li Ning (02331.HK) rating from Buy to Outperform and trimmed its PT to HKD17.2 from HKD27. The broker cited short-term sales and margin uncertainty and said long-term upside may be limited as the Li Ning brand approaches about 40 billion yuan in scale.