法國總統馬克龍：英國、法國、意大利、荷蘭等國已準備在霍爾木茲海峽展開行動。

JP Morgan downgraded Xiyu Technology (MINIMAX-W 00100.HK) to Neutral and cut its price target 63.6% to HK$400 from HK$1,100, saying the stock has not released a new domestic SOTA model since M2 and remains behind peers on pure model capability. The bank said Xiyu has reduced M3 pricing toward DeepSeek’s range, while Zhipu AI (02513.HK) has doubled API prices year-to-date with rising volumes. JP Morgan warned industry monetization is converging on API, coding, agents and enterprise workflows, making model-leading capability increasingly decisive for pricing power rather than product breadth or scale. It raised Xiyu’s revenue forecasts for 2026–27 by 34–74% but trimmed 2028–30 forecasts by 5–21%, and kept an Overweight on Zhipu AI citing continued SOTA releases and clearer commercialisation.

法國總統馬克龍：伊朗協議對市場的實質性影響需數週時間纔會顯現。