1、沪深两市8月21日总成交量为1.88万亿，较上日明显回落，刷新今年4月以来新低，并跌破20日均线（2.32万亿，8月以来一直围绕该均线上下波动）。 2、8月21日衡量A股杠杆水平的融资买入额占A股流动市值之比略微降至10.03%，年内一直围绕着10%波动，但5月以来波动明显加剧。 -------- 注：1、两市成交量反映了各大机构、游资、广大散户对A股看法，高于均线代表总成交量升高，市场情绪偏乐观，低于均线代表总成交量下降，市场情绪降温。 2、2015年以来，A股杠杆水平大部分时候维持在6%-10%，杠杆率超过10%意味着市场活跃度较高，可能接近或者处于牛市。达到15%以上意味着市场有过热风险，需要警惕风险。

At Hot Chips 2026, SK Hynix packaging engineering VP Jaesik Lee said the company will adopt advanced packaging—including Intel's EMIB—for next‑generation HBM and plans to transition to 3D packaging. SK Hynix is exploring hybrid bonding to overcome the 16‑layer stacking limit and intends to increase TSV counts, raise IO speeds through tighter logic‑process integration, and optimize power‑delivery networks to mitigate power and thermal challenges.

China's summer grain procurement has reached peak season: the National Food and Strategic Reserves Administration said on Aug. 24 that industry purchasers have cumulatively bought more than 90 million tonnes of wheat. Southern early indica rice is hitting the market. Since August, authorities have activated minimum purchase-price contingency plans for early indica rice in Jiangxi and Hunan and for wheat in Henan to provide a policy floor and stabilise market expectations. The administration said it will combine market-based procurement with policy stockpiling, monitor rainfall, direct provinces to strengthen drying and storage to cut post-harvest losses, optimise procurement timing, and deepen producer-buyer coordination to keep grain sales smooth and markets stable.