UBS cuts Qualcomm (QCOM.O) price target to $170 from $190.

As of the afternoon of the 30th, E Fund ChiNext ETF (159915) recorded turnover of 16.3 bln yuan, surpassing its prior intrayear second-high on July 17, 2026; July net inflows were 32.03 bln yuan and AUM stood at 65.8 bln yuan. Hua Xia Sci‑Tech Innovation 50 ETF (588000) logged turnover of 14.5 bln yuan, its third-highest this year; July net inflows totaled 38.92 bln yuan and AUM reached 86.3 bln yuan.

Galaxy Securities says July domestic fresh milk prices rose 0.3% YoY, the first positive reading in nearly five years, indicating a gradual supply–demand rebalancing. Raw milk prices began rising in March, reinforcing signs of a cyclical trough and recovery. Given current milk-source structure and downstream demand rebound, Galaxy expects the post-turn growth path may mirror 2016 — a modest, gradual uptrend — which should ease downstream competition, reduce impairment losses and support earnings recovery at related listed companies.