The Politburo met on July 30 and said H2 economic work should accelerate the conversion to new growth drivers and implement a more proactive fiscal policy alongside a moderately accommodative monetary policy. It called for full use of existing stock policies, timely design of practical incremental measures, stronger countercyclical adjustment, deeper reform and opening-up, balancing development and security, expansion of domestic demand, supply-side optimization, and measures to safeguard and im

Zelenskiy said Ukraine's defense hinges on whether partners, especially the United States, are willing to provide missile-defense systems.

Goldman Sachs says Asia-focused fundamental long-short equity hedge funds are suffering the largest single-month drawdown on record after a broad selloff in AI-theme stocks erased most concentrated gains. As of July 28, these funds averaged an 18.6% decline month-to-date. They had been among the best-performing funds in 1H after early bets on AI hardware leaders SK Hynix and Samsung Electronics, with some funds posting gains above 100%. Since a July 22 peak when year-to-date returns reached about 40%, the group has given back roughly 21 percentage points. Goldman says crowded AI trades that drove the 1H rally are the primary cause of this month’s unusually large losses; funds with greater AI exposure suffered larger declines. Facing the volatility, managers have been taking profits and cutting risk: as of July 27, Asian hedge funds reduced exposure for eight consecutive trading days, with the five-day cumulative exposure cut hitting a record high.