Chinese markets closed higher after a broad rally. Shanghai Composite +1.41%, Shenzhen Composite Index +2.44%, ChiNext +3.14%, STAR 50 Index +4.14%. Turnover on Shanghai and Shenzhen totaled 2.39 trillion yuan, up 244.6 billion yuan from the prior session; more than 4,300 stocks advanced. Semiconductor supply chain led gains—glass substrates, advanced packaging, CPO and optical-fiber-related names outperformed—while storage-chip segments posted strong gains and multiple chip suppliers hit daily

China's National Bureau of Statistics said in a Jan–Jul 2026 market report released Aug 17 that new commercial housing sales area fell 11.8% YoY (0.2 ppt worse than Jan–Jun) and sales value fell 13.1% YoY, a 0.5 ppt narrowing. The report said property inventories continued to decline. Policymakers retain a year-long goal of stabilizing the real estate market; policy focus is expected to stay on accelerating existing measures—boosting housing consumption, unblocking first-/second‑hand housing replacement chains, and mobilizing stock land and completed-for-sale housing—to speed results. Entering the September–October season, policy effects plus supply of improvement projects and replacement demand may support marginal transaction recovery in core cities, but inter-city and project-level divergence is likely to persist in the near term.

Xiaomi Group (01810.HK) will report Q2 results on Tuesday. A Visible Alpha survey of analysts expects Q2 net profit of RMB 6.01 bln, down from RMB 11.9 bln a year earlier; revenue is forecast at RMB 109.82 bln, down 5.3% YoY. CITIGROUP cites weak sales across smartphones, IoT, internet and EV businesses plus higher memory costs and intensifying competition as margin headwinds, and projects Q2 gross margin may narrow to 19.7%.