Tencent Holdings (00700.HK) said in its interim results that in 1H it repurchased 50.03 million shares on the HKEX for about HK$24.4 billion; the repurchased shares have been cancelled. The company said the buybacks are aimed at enhancing long-term shareholder value.

VIX本週一度跌破15，回到2月底美伊衝突升級前水平，明顯低於約20的長期均值。與此同時，油價仍接近90美元、美債收益率處於高位，說明股票市場對宏觀風險的定價正在與商品和債券市場脫鉤。 這主要還是依靠“雙主題市場”：AI投資繼續支撐科技與成長板塊，能源企業又受益於高油價，不同行業漲跌相互抵消；個股波動仍大，但相關性下降後，標普500整體波動被壓低。VIX衡量的正是指數未來30天預期波動，並不等同於全球風險水平。

BLS: July CPI up 0.1% MoM SA; core CPI (ex food and energy) up 0.2% MoM. YoY headline CPI +3.4%, core +2.5%. CNBC reports the modest monthly prints, following a similarly soft June, indicate the earlier energy-driven pickup in inflation is easing and could reduce the Fed’s near-term rate-hike urgency. Inflation remains materially above the Fed’s 2% target, price moves are volatile and remain exposed to developments in the Middle East.