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July 23 - Stronger-than-expected Australian employment growth in June prompted the interest rate market to increase bets on an August rate hike by the Reserve Bank of Australia (RBA). At the market open, the probability of a rate hike at the RBA's August policy meeting was 25%, and the probability of a rate hike for the remainder of 2026 was 80%. After the employment data was released, these probabilities rose to 33% and 95%, respectively. IG market strategist Tony Sycamore stated that with high inflation, the RBA will be concerned about the tightening labor market.

Piper Jaffray: Lowered its target price for Alphabet (GOOG.O) from $445 to $395.

On July 23, the official WeChat account of Guangdong Provincial Bureau of Statistics released data showing that, according to the unified accounting results for regional GDP, Guangdong achieved a GDP of 7,228.105 billion yuan in the first half of the year, a year-on-year increase of 4.5% at constant prices. Specifically, the added value of the primary industry was 224.894 billion yuan, an increase of 3.8%; the added value of the secondary industry was 2,732.761 billion yuan, an increase of 4.7%; and the added value of the tertiary industry was 4,270.45 billion yuan, an increase of 4.5%.

July 23 – The "15th Five-Year Plan for the Revitalization and Development of Traditional Chinese Medicine" was released today, comprehensively outlining the work plan for traditional Chinese medicine during the 15th Five-Year Plan period. The plan clarifies the guiding principles, development goals, and indicators for comprehensively promoting the development of traditional Chinese medicine during this period. The plan proposes that by 2030, a more complete traditional Chinese medicine service system covering the entire population and the entire life cycle will be established; new breakthroughs will be achieved in the prevention and treatment of major diseases using traditional Chinese medicine; the quality of grassroots services will be improved and upgraded; basic research capabilities will be significantly enhanced; the innovation and creativity of the traditional Chinese medicine industry will be greatly strengthened; and the cultural and international influence of traditional Chinese medicine will be further enhanced. The revitalization and development of traditional Chinese medicine will reach a new level, ensuring that everyone has access to traditional Chinese medicine services.

On July 23, according to Qichacha APP, Chengdu Jisu Engine Technology Co., Ltd. was recently established, with a business scope including natural science research and experimental development; engineering and technology research and experimental development; and agricultural science research and experimental development. Qichacha's equity penetration analysis shows that the company is indirectly wholly owned by Douyin Co., Ltd.

July 23 – Mizuho Securities economist Yusuke Matsuo stated that Bank of Japan Governor Kazuo Ueda is expected to reiterate his stance of seeking further interest rate hikes at next week's press conference, but this is unlikely to reverse the yen's weakening trend. "The market has largely priced in the Bank of Japan's expectation of raising interest rates every six months, so such a statement alone is unlikely to significantly boost the yen's exchange rate. Given market expectations that the central bank will clarify the timing and magnitude of the next rate hike, any stance interpreted as dovish could exacerbate the yen's weakness in an environment of overall dollar strength." The market widely expects the Bank of Japan to keep its policy rate unchanged at 1% next week to assess the impact of the previous rate hike.

On July 23, the China Federation of Logistics and Purchasing released the "2026 Digital Procurement Development Report." According to the report, the penetration rate of digital procurement among Chinese enterprises continues to increase, creating conditions for full-cycle digital management from bidding and tendering to procurement and contract fulfillment. Overall, my country's total digital procurement volume reached 23.2 trillion yuan in 2025, with a digital penetration rate of 11.8%, an increase of 0.3 percentage points from the previous year. Since 2022, the penetration rate of digital procurement has increased year by year. Enterprise surveys show that in terms of large-scale models and intelligent agent applications, AI applications in 20 scenarios across eight stages of bidding and tendering are gradually being implemented, and the penetration rate of AI applications in procurement e-commerce exceeds 50%.

Southern Securities' double-leveraged long position in Hynix (07709.HK) surged over 10%, while Southern Securities' double-leveraged long position in Samsung Electronics (07747.HK) rose over 8%.

On July 23, the highest 7-day annualized yield of Tencent Wealth Management's "Current Account +" was 1.4810%, and the lowest was 0.7550%. The highest 7-day annualized yield of WeChat Pay's "Lingqian Tong" was 1.0310%, and the lowest was 0.9230%. The highest 7-day annualized yield of Alipay's "Yu'ebao" was 1.0640%, and the lowest was 0.9750%.

On Thursday, July 23, the Hang Seng Index opened 73.87 points higher, or 0.3%, at 24,966.53; the Hang Seng Tech Index opened 9.45 points higher, or 0.2%, at 4,677.68; the H-share Index opened 15.54 points higher, or 0.19%, at 8,266.61; and the Red Chip Index opened 6.42 points higher, or 0.16%, at 4,127.7.

Hang Seng Index futures opened 0.50% higher at 25,041 points, a premium of 148 points.

On July 23, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued a notice regarding the "15th Five-Year Plan for Renewable Energy Development." The notice states that during the 15th Five-Year Plan period, the newly started offshore wind power capacity nationwide will be approximately 100 million kilowatts, reaching a cumulative installed capacity of over 100 million kilowatts by 2030. It also emphasizes the need to coordinate hydropower development with ecological protection, taking into account flood control, water supply, irrigation, and navigation needs, aiming to reach approximately 410 million kilowatts of conventional hydropower capacity nationwide by 2030. Furthermore, it prioritizes the development of distributed renewable energy in central and southern regions, promoting diversified development and intensive spatial utilization across multiple scenarios. During the 15th Five-Year Plan period, the newly installed capacity of distributed renewable energy nationwide will exceed 300 million kilowatts.

The Bank of Japan announced that it will directly purchase ¥355 billion of 1-3 year Japanese government bonds, ¥335 billion of 5-10 year Japanese government bonds, and ¥100 billion of 10-25 year Japanese government bonds starting July 24.

On July 23, futures market news: The SC crude oil main contract opened slightly higher, rising more than 3% intraday, reaching a new high since June 12. Cinda Futures stated that Wednesday's expectations for easing tensions failed to materialize, with Trump denying recent negotiations with Iran and threatening to expand military action, including a strike on the suspected nuclear facility at Mount Kailash, causing oil prices to record four consecutive days of gains. Currently, the market is still dominated by expectations of supply disruptions. While the Strait of Hormuz remains nominally open, the eleventh consecutive day of attacks continues to disrupt shipping from the Gulf. The Houthi threat to Saudi shipping in the Red Sea remains unresolved, and the Caspian Pipeline Union terminal in the Black Sea has been attacked again, presenting three risks simultaneously. If the attack expands to nuclear facilities, Iran has explicitly stated its intention to retaliate against the entire Gulf's energy infrastructure, thus increasing the risk of supply shortages. It is worth noting that the market has been overbought for several days with crowded positions; if negotiations resume, profit-taking could be equally severe. The EIA's unexpected 1.4 million barrel inventory buildup this week suggests that the near-term supply is not as tight as the premium suggests.

On July 23, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued a notice regarding the "15th Five-Year Plan for Renewable Energy Development." The notice emphasizes promoting the integrated development of offshore wind power, including offshore photovoltaic power and ocean energy. It encourages the integration of offshore wind power with offshore oil and gas, seawater desalination, marine ranching, and seabed computing, and promotes the integrated construction of offshore wind power facilities for marine observation, ecological monitoring, and earthquake monitoring. The notice also explores the construction of offshore energy islands to create new models for the comprehensive development and efficient utilization of green energy at sea.

Japanese Finance Minister Satsuki Katayama: I will not comment on specific foreign exchange levels.

July 23rd, Futures News: As of the fourth working day on the 23rd, the change rate was 12.34%, with the average price of reference oil types at $87.48/barrel. Domestic gasoline and diesel prices increased by 640 yuan/ton. The price adjustment window for this round is at 24:00 on July 31st. 1. Shandong Local Refineries: Yesterday, boosted by the rise in crude oil prices, the market concentrated on restocking, and the production-to-sales ratio of gasoline and diesel at local refineries improved significantly. Furthermore, the rise in international crude oil prices at the close provided a positive boost, and it is expected that the price of refined oil products from Shandong local refineries will continue to rise by 50-100 yuan/ton today. 2. East China: On Thursday, crude oil prices continued to rise at the close, further boosted by positive news. However, most diesel prices have already reached their target price. It is expected that the prices of gasoline and diesel from major oil companies in East China will remain stable with a slight upward trend today. Traders will operate on a small-scale, just-needed basis, resulting in a sluggish trading atmosphere. 3. South China: On Thursday, international crude oil prices continued to rise at the close, and positive news provided stronger support. It is expected that the price of gasoline and diesel in South China will continue to rise at high levels today. Terminal enterprises are cautious about chasing higher prices, and the market will mostly purchase on an as-needed basis. 4. North China: On Thursday, crude oil prices continued to rise, and positive news further boosted the market. It is expected that gasoline and diesel prices from major suppliers in North China will maintain an upward trend, while diesel prices will be limited by the price cap. Traders will maintain a focus on just-in-time demand, and will cautiously maintain a short position at high levels. 5. Central China: On Thursday, crude oil prices continued to rise, and positive news deepened. It is expected that gasoline and diesel prices from major suppliers in Central China will remain firm at high levels today. Demand is flat, and traders are mostly reducing inventory and observing the market, resulting in a stable trading environment.

Guotai Junan International (01788.HK): Trading suspended briefly from July 23.