港股黃金股走低，赤峯黃金(06693.HK)、山東黃金(01787.HK)、招金礦業(01818.HK)、紫金黃金國際(02259.HK)跌超4%，紫金礦業(02899.HK)、中國黃金國際(02099.HK)、潼關黃金(00340.HK)跌超2%。

港股大模型概念股盤初走低，智譜(02513.HK)跌9.30%，MINIMAX-W(00100.HK)跌5.03%。

Foreign investors have withdrawn roughly $110bn from the South Korean equity market YTD, a record, largely to avoid allocation imbalance after the market’s rapid rally, leaving domestic retail investors to absorb most buying. After net buying 42.4 trn KRW in June, retail investors have net purchased 13.2 trn KRW of KOSPI stocks so far this month. Margin financing for KOSPI stocks was 280 trn KRW as of July 14, down from a record 298 trn KRW on June 24. Lyon Securities chief equity strategist Alexander Redman said Korea remains the firm’s largest overweight but the firm has begun trimming positions; he flagged concern the market is increasingly retail-driven with heavy use of margin.