In a July 25 interview with foreign media, Nvidia CEO Jensen Huang discussed US-China AI competition, saying exceptional talent will find strong solutions and that China is destined to produce world-class AI technology; the industry should continue to learn from and cooperate with Chinese talent.

Data from the Korea Exchange and Yonhap Infomax published on the 26th showed that as of the 24th retail investors’ net purchases of ETFs this year reached 69.5 tln won, approaching 70 tln won. That amount is roughly 70% of retail buying on the main board. Retail net purchases on the main board totaled 109.9 tln won, with ETFs accounting for 63.2% of those retail main-board flows (about 630,000 won of every 1,000,000 won). ETF inflows have continued to rise despite a pullback in Korean equities this month.

Monday — Germany IFO (Jul); UK CBI retail (Jul); US June durable goods orders (MoM) and Dallas Fed activity. Tuesday — US ADP (week to Jul 11), FHFA house prices (May MoM), S&P/Case‑Shiller 20‑city (May YoY), Conference Board consumer confidence (Jul), Richmond Fed manufacturing; RBA chair BULLOCK speaks. Wednesday — API crude inventories (week to Jul 24); Australia unadjusted CPI (Jun YoY); Swiss ZEW (Jul); UK mortgage approvals (Jun); EIA crude, Cushing and SPR stocks (week to Jul 24); SK Hynix Q2 results. Thursday — FOMC rate decision and press conference with KEVIN WARSH; BOE rate decision, minutes and BAILEY press conference; BOC minutes. Major US data: June core PCE (MoM and YoY), personal spending (Jun), Q2 preliminary real GDP (annualized) and preliminary PCE‑based core inflation (Q2 annualized), initial jobless claims; Germany, France and euro‑area Q2 preliminary GDP; euro‑area June unemployment and July sentiment surveys; German July CPI flash; EIA weekly gas stocks. Tech earnings after US close: Meta, Microsoft, Qualcomm, Arm. Friday — BOJ rate decision and economic outlook; BOJ governor UEDA press conference; China official manufacturing PMI (Jul); Japan unemployment (Jun); UK Nationwide house prices (Jul); euro‑area and France CPI flash (Jul); Germany unemployment (Jul); Canada GDP (May MoM); US Q2 labor‑costs, Chicago PMI (Jul), Michigan final consumer sentiment and 1‑yr inflation expectation; domestic China starts new refined‑oil price adjustment window; Amazon and Apple report after US close (Jul 30). Saturday — US oil rig count (week to Jul 31). Sunday — OPEC+ monthly ministerial meeting on oil policy.