Data from the China Association of Fund and Asset Managers showed that in July 2026 securities and futures firms filed 3,583 private asset-management products, +16.94% MoM and +91.20% YoY. New product launch size was CNY122.82bln, +13.94% MoM and +15.90% YoY. Total private asset-management product AUM at securities and futures firms was CNY13.20tln at end-July, up CNY73.44bln from end-June (+0.56% MoM).

BofA reaffirmed NVIDIA (NVDA.O) as its top pick, maintaining a Buy rating and $350 price target. The bank forecasts FY2028 revenue growth of roughly 70%, well above a 45% market consensus, and says demand still exceeds supply. BofA raised EPS estimates citing a faster ramp of Rubin chips, rising AI revenue per GW, and durable long-term demand. Main downside risk is gross-margin pressure from higher memory costs, which could push margins down to about 72–73%.

UKMTO said a tanker in the Strait of Hormuz was struck by an unidentified aerial object, causing a fire that has since been extinguished.