各類對衝基金策略8月截至23日收益回落至約+0.8%，上週一度超過+2%；美國擁擠交易明顯受損，但已有跡象顯示最差階段可能過去。更關鍵的是，美國對衝基金20日滾動總資金流已觸底並開始改善。自2018年以來，每年這一指標都會在9月中旬前轉正，意味着未來幾周存在重新增加總倉位的季節性可能。與此同時，近期動量（追漲殺跌的量化或趨勢跟蹤策略）回撤較深，歷史上深度回撤後的收益表現明顯更分化，因此對動量後續方向保持謹慎。（上述觀點來自摩根大通8月23日報告）

The U.S. Navy is testing a new air-to-air missile reported capable of striking targets beyond 290 miles (465 km), exceeding the range of known comparable weapons. The AIM-424 Malice, developed by Raytheon, an RTX unit, is roughly the same dimensions as the AIM-120 AMRAAM, allowing carriage in F-35 and F-22 internal weapon bays. Peter Layton, former Royal Australian Air Force officer and visiting fellow at Griffith Asia Institute, said the range could enable strikes on high-value aircraft such as command-and-control planes or tankers, but the weapon may be more valuable for defending naval vessels.

恆生科技指數跌幅擴大至3%，恆生指數現跌1.82%；阿里巴巴(09988.HK)持續走低，現跌9.35%。