CUSTOMS says China's foreign trade will face some pressure in H2, but sustained innovation momentum, strong enterprise dynamism and high openness mean trade fundamentals remain solid and the positive development momentum is likely to continue.

CMBI lowered its FY2026 Non‑IFRS net profit forecast for Tencent Holdings (00700.HK) by ~1% and cut its price target to HK$735 from HK$750, while maintaining a Buy rating. The downgrade reflects continued AI investment; CMBI still regards Tencent’s AI investment ROI as favorable and cites H2 2026 catalysts—WeChat AI agent Xiaowei rollout, continued upgrades to the Hunyuan large model and rising compute-driven cloud growth—that could support fundamentals and valuation recovery.

A股油气开采及服务板块持续走高，蓝焰控股、中曼石油涨停，通源石油涨超20%，潜能恒信、科力股份涨超15%，首华燃气涨超10%，新天然气、石化油服、海油发展、新潮能源、中油工程跟涨。