CITIGROUP raised its PT on Salesforce (CRM.N) to $204 from $187.

With the end‑of‑August filing deadline approaching, a new round of approvals for fund advisory licenses has entered its final sprint. Since the pilot began in 2019 the number of licensed fund advisers has risen from 5 to 60; industry participants say the expansion, coinciding with the window to convert the pilot into a routine regime, marks a key transition toward normalizing fund advisory services.

A-shares closed mixed: Shanghai Composite +0.19%, Shenzhen Composite -0.56%, ChiNext -0.92%, Beijing Stock Exchange 50 Index +2.67%. Turnover across Shanghai and Shenzhen was 2.4 trillion yuan, about 13.3 billion yuan higher than the previous session. More than 3,200 stocks fell. Grain/agriculture names led gains, with multiple seed and agricultural stocks — including Qiule Seed, Shennong Seed, Da Bei Nong, Dunhuang Seed, Nongfa Seed, Jingliang Holdings and Longping Hi-Tech — hitting daily limit-ups. Pork names were active: Luoniushan posted a second straight limit-up and Tianbang Food hit the limit. Domestic OS/software plays jumped in the afternoon, with Chengmai Technology, Qilin Xinan and ChinaSoft among limit-ups. Dairy, fertilizer, combustible-ice and glass-substrate sectors outperformed. Kuaishou-related names led declines; Shengyang, Ruijie Networks and Zhongguang Tianze fell more than 7%. Compute-rental stocks underperformed, with Hongbo, Xingyun Technology and Xinkai Xinneng lower; cloud gaming, futures, CRO and Zhipu AI concepts also lagged. The most expensive A-share IPO of the year surged 516.44% on its debut, closing at 1,152 yuan/share.