Real-time News

On Tuesday, August 4, the Hang Seng Index closed down 156.48 points, or 0.6%, at 25,852.92; the Hang Seng Tech Index closed up 10.0 points, or 0.21%, at 4,885.61; the H-share Index closed down 77.89 points, or 0.9%, at 8,574.26; and the Red Chip Index closed down 30.55 points, or 0.73%, at 4,145.41.

Snap (SNAP.N) rose 8% in pre-market trading after the company reported second-quarter revenue that beat expectations.

US chip stocks rose in pre-market trading, with Micron Technology (MU.O), SanDisk (SNDK.O), and Intel (INTC.O) all up more than 3%, while SK Hynix (SKHY.O) and Western Digital (WDC.O) rose more than 2%.

On August 4th, Saudi Aramco CEO Amin Nasser stated that last month's attacks on its assets did not have a material impact on its operations, and that the company is working to expand its oil export capacity due to the ongoing impact of the war with Iran on the Strait of Hormuz. This comes after the Saudi energy giant reported that its critical infrastructure was targeted in the July attacks. This is the company's first acknowledgment of the attacks since the incidents began. Oil traders had been closely examining footage from last month showing suspected oil tank fires and flare burning across Saudi Arabia. "Some of the company's facilities were attacked, but the impact on operations or finances was not significant," Nasser said. "The same was true in July. Even with the July attacks, there was no material impact on our capabilities."

Abu Dhabi National Oil Company (ADNOC) said the new deployment allows engineers to oversee up to three times the number of drilling rigs and helps avoid up to two days of downtime.

Saudi Aramco CEO: Oil exports to Asia via the Suez Canal take 20-25 days longer than those via the Strait of Hormuz.

According to TASS, citing the Russian Ministry of Defense, Russia has struck a logistics center in the Sumy region of Ukraine.

Saudi Aramco CEO: Saudi Aramco is considering developing new potential export routes.

Saudi Aramco: Governments around the world are seeking to increase oil reserves.

The China Earthquake Networks Center officially reported that a magnitude 2.9 earthquake occurred at 15:21 on August 4 in Haifeng County, Shanwei City, Guangdong Province (23.04 degrees north latitude, 115.42 degrees east longitude), with a focal depth of 10 kilometers.

August 4th - Apple's annual sales in India surpassed $10 billion for the first time in the last fiscal year, highlighting surging demand for its high-priced electronics and Apple's continued expansion of its retail channels in India. Sources familiar with the matter revealed that Apple's revenue in India achieved double-digit growth in the 12 months ending March this year, compared to approximately $9 billion in sales the previous year. The sources indicated that the iPhone, Apple's flagship product, accounted for the vast majority of sales, while demand for the iPad and MacBook also increased. This previously undisclosed data is a significant boon for Apple in exploring new growth markets. Although the Indian market still represents a relatively small portion of Apple's global business, this South Asian nation is gradually becoming one of Apple's most important sales regions outside of the United States and China.

The Stoxx Europe 600 index hit a new high, up 0.7% at the moment.

On August 4th, when a Russian assault force approached Ukrainian defensive positions on a stretch of the front line east of Donetsk, they encountered an unexpected adversary: a combat robot equipped with a flamethrower. According to the chief engineer of the Ukrainian 93rd Independent Mechanized Brigade, as Russian troops occupied positions near a forested area, the robot began its operation, turning the surrounding dry summer grass into a "sea of fire." Ukrainian machine gun teams then launched an attack, mopping up the surviving attackers. This robot, deployed last August in the "Dobropillia axis," is part of Ukraine's expanding unmanned ground vehicle (UGV) force. These vehicles are equipped with a variety of weapons, from rifles to rocket-propelled grenade launchers. Ukraine aims to produce at least 50,000 such robots this year for battlefield use, enhancing the combat effectiveness of human forces confronting Russian troops.

Powerchip Technology: The overall market environment remains favorable for semiconductor companies, and we expect strong revenue and profit performance this year.

Minutes of the Bank of Korea meeting: One member stated that the current interest rate hike measures alone are unlikely to be sufficient.

On August 4th, Atsushi Takeuchi, a former Bank of Japan board member who participated in the Tokyo foreign exchange market intervention more than a decade ago, stated that if the yen shows signs of weakening again, Japan and the United States will "definitely" intervene jointly once more. Takeuchi said that the recent joint action by the US and Japan was highly effective, creating a market consensus that the yen would not continue its unilateral weakening. "It is now clear that, thanks to US support, virtually nothing can prevent the Japanese authorities from intervening," he said. "The US standing behind Japan and taking action has huge symbolic significance." "If I were managing a hedge fund, I wouldn't consider betting on USD/JPY right now." He indicated that the JPY/USD exchange rate is likely to fluctuate between 155 and 162 in the short term. "If the yen can maintain a level above 160 for another week or so, the market will see that level as a short-term bottom and begin to push the yen higher." "If the yen shows signs of weakening, Japan and the United States will definitely intervene again."

Bank of Korea meeting minutes: One member stated that the timing and pace of any further interest rate hikes should be determined primarily by inflation.

Spain's unemployment rate rose 0.85% month-on-month in July, compared with -1.24% in the previous month.