CMBI lowered its FY2026 Non‑IFRS net profit forecast for Tencent Holdings (00700.HK) by ~1% and cut its price target to HK$735 from HK$750, while maintaining a Buy rating. The downgrade reflects continued AI investment; CMBI still regards Tencent’s AI investment ROI as favorable and cites H2 2026 catalysts—WeChat AI agent Xiaowei rollout, continued upgrades to the Hunyuan large model and rising compute-driven cloud growth—that could support fundamentals and valuation recovery.

美聯儲理事沃勒：我希望美聯儲當初從未購買過抵押貸款支持證券。

July 14 — Ministry of Industry and Information Technology minister Li Lecheng met in Beijing with Saudi Communications and Information Technology Minister Abdullah Al‑Swaha to discuss deepening China‑Saudi cooperation in information and communications. Li said MIIT is willing to step up policy exchanges on digital infrastructure and artificial intelligence and to encourage and support practical partnerships between Chinese and Saudi firms. Al‑Swaha said Saudi Arabia is willing to explore cooperation on talent development and capacity building, welcomed more Chinese investment in Saudi Arabia, and seeks to deepen collaboration on subsea cables and cloud computing.