现货金银短线走跌，现货黄金失守4270美元/盎司，日内跌0.68%；现货白银跌超1%，报62.58美元/盎司。

BlackRock now recommends overweighting emerging-market equities, saying AI-driven demand for scarce inputs and stronger corporate profitability should help EM outperform, Wei Li and other strategists wrote in a Monday note. The firm singled out South Korea and Taiwan as central to semiconductor and memory supply chains and flagged Latin America as providing bulk commodities and infrastructure exposure for AI buildout. The change reverses a June downgrade to neutral—then justified by AI concentration and leverage risks, especially in Korea—with BlackRock saying Korea’s de-leveraging after July’s large sell-off supports the return to overweight.

Hong Kong midday: the HSI slipped 0.23% while the Hang Seng Tech Index rose 0.76%. Half-day turnover reached HKD 96.248 bln. Sector gainers included PCB components, gaming software, semiconductors and mobile games; laggards were lithium batteries, film & TV and banks. Notable stock moves: 06809.HK up over 7%, 03200.HK up nearly 5%, 09999.HK (NetEase-S) up over 3%; 00100.HK down over 5%, 03750.HK (CATL) and 00762.HK (China Unicom) down over 3%.