Alibaba (09988.HK) said on its fiscal 2027 Q1 analyst call that AI has become the core growth engine for Alibaba Cloud. AI-related products generated annualized recurring revenue (ARR) above RMB49.5 billion (USD7.3 billion) this quarter, accounting for 35% of Alibaba Cloud’s external commercial revenue; AI product gross margins are materially higher than the cloud average.

Saudi foreign minister said Riyadh will continue to press for de-escalation and prevent renewed tensions or conflict, and called for the Strait of Hormuz, Bab al-Mandeb and all sea lanes to remain open and secure.

Fed minutes contained no views supporting rate cuts, marking a clear shift in policy discussion versus a year ago. Markets had expected cuts as inf cooled, but price pressures have persisted — amplified after the Trump administration's involvement in the Israel–Iran conflict — and oil and gas flows via the Strait of Hormuz remain constrained nearly six months after the outbreak. Recent data show a modest easing in inf and an unexpected payroll decline in July, leaving markets priced for the Fed to hold at the Sept. 15–16 meeting. Officials remain divided on the need for further hikes but are more cautious on labour-market strength and risks to achieving full employment; the Fed chair's reluctance to outline his policy path leaves markets without clear guidance.