寇图资本管理公司认为，亚马逊最新将2026年CapEx上调至2200亿美元，谷歌指引1950—2050亿美元（图取中值2000亿），微软约1750亿，Meta为1300—1450亿（中值约1380亿），合计约7330亿美元。 美国FY2026国防拨款基础可自由支配预算为8387亿美元，因此比例约87%。 真正的信号是AI建设已经从科技行业支出升级为宏观级资本开支周期：四家公司一年投资规模已接近一个超级大国的国防预算，而且Alphabet、Amazon仍称算力供不应求。 资金会继续向GPU/ASIC、HBM、数据中心、电网、冷却和建筑设备传导，同时巨额折旧和现金支出开始成为科技公司利润与自由现金流的新约束。

Reserve Bank of Australia held its policy rate unchanged for a second consecutive meeting, in line with economists’ and money-market expectations, saying it would pause to assess developments. Renewed Middle East conflict lifted oil prices, but July inflation undershot forecasts, removing market odds of an August hike and giving the board room to wait on Strait of Hormuz developments. RBA forecasts show inflation remaining above 2.5% until early 2028. The bank warned a rapidly deteriorating housing market — prices have started to fall after three hikes in 1H and the downturn accelerated after the federal budget tightened tax concessions for property investors — could hit household consumption and GDP; larger-than-expected house-price falls would further weaken growth.

Minmetals Resources (01208.HK) reported 1H 2026 revenue up 61% YoY to $4.54 billion and profit after tax up 141% YoY to $1.366 billion. Profit attributable to equity holders rose 164% YoY to $897 million; basic EPS 7.36 US cents. Net cash from operating activities increased 89% YoY to a record $2.234 billion.