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Market news: Amazon (AMZN.O) will use Android on its new Fire tablet.
According to the Wall Street Journal: Bank of America has set aside $4 billion to develop new technologies such as artificial intelligence.
On August 20th, at the Hong Kong Exchanges and Clearing Limited (HKEX) 2025 interim results conference, HKEX Group CEO, Chan Yi-ting, stated: "HKEX has consistently adhered to the principle of strategic investment to maintain its global competitiveness. HKEX will not skimp on capital expenditures, and we continue to increase investment in areas such as optimizing our data platform and upgrading our trading and settlement systems." Chan Yi-ting addressed the hotly debated issue of extending trading hours. "Regarding the issue of extending trading hours, we note that Nasdaq plans to implement 24/7 trading in the second half of 2026. HKEX will adhere to a prudent and gradual approach, drawing on the experience of international peers and conducting research based on the actual local market conditions. This process will be gradually implemented after trading systems are upgraded, risk management systems are strengthened, and the supporting regulatory framework matures." Chan Yi-ting stated that HKEX is actively discussing with market participants the possibility of shortening the settlement cycle in the spot market. HKEXs technical systems will be able to support T+1 settlement by the end of this year, but the timing of T+1 settlement in the market requires consultation with multiple market participants.
Russian Foreign Minister Lavrov: (On the EU issue) We see their clumsy attempts to change Trumps position on Ukraine.
The MBA mortgage application activity index in the United States for the week ending August 15 was 277.1, compared with 281.1 in the previous week.