Real-time News

Fitch affirmed SoftBank's rating at "BBB+" with a stable outlook.

Barclays raised its price target for Alibaba (BABA.N) from $195 to $200.

Citigroup raised its price target for Marvell Technology (MRVL.O) from $225 to $275.

Wells Fargo lowered its price target for Walmart (WMT.N) to $120 from $140.

Barclays raised its price target for Estée Lauder (EL.N) from $80 to $97.

On August 21st, Xiaomi Automotive Technology Co., Ltd. filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The vehicles within the recall scope have emergency mechanical handles that are difficult to identify and operate due to their similar color to the interior. In extreme situations such as a severe collision leading to the failure of the vehicle's low-voltage system, this could hinder occupants from quickly opening the doors to escape and prevent rescue by those outside the vehicle, posing a safety hazard. Xiaomi Automotive Technology Co., Ltd. will affix warning labels to the emergency mechanical handles of the recalled vehicles free of charge; and will also upgrade the software via Over-The-Air (OTA) technology to optimize the central locking logic and window lowering strategy to reduce the safety hazard. Since some vehicles already have warning labels affixed, these vehicles do not require additional affixing during this recall.

On August 21, Toyota Motor (China) Investment Co., Ltd. filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The recall, number S2026M0090V, involves 18 imported TOYOTA SUPRA 2.0T vehicles manufactured between September 6, 2022, and February 28, 2023. Due to a manufacturing defect in the starter motor, these vehicles may experience abnormal wear after repeated starts, leading to difficulty starting the vehicle. In extreme cases, this could cause a short circuit within the starter motor, resulting in localized overheating and a fire risk.

On August 21, it was reported that Zhaoqing Xiaopeng New Energy Investment Co., Ltd. has filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The recall, number S2026M0101V, involves the recall of 134,588 Xiaopeng G6 vehicles produced between April 7, 2023 and December 22, 2025; 94,688 Xiaopeng P7+ vehicles produced between July 23, 2024 and December 10, 2025; and 35,566 Xiaopeng X9 vehicles produced between August 8, 2023 and September 26, 2025. The vehicles within this recall scope have an emergency mechanical grab handle that is difficult to identify and operate due to its color being similar to the interior trim. In extreme situations such as a severe collision causing the vehicle's low-voltage system to fail, it may affect the ability of passengers to quickly open the doors and escape, posing a safety hazard. Zhaoqing Xiaopeng New Energy Investment Co., Ltd. will affix warning labels free of charge to the emergency mechanical handles inside the recalled vehicles to reduce this safety risk.

Beike (BEKE.N) shares rose 5.5% in pre-market trading.

According to Hong Kong Stock Exchange filings, Tencent Holdings (00700.HK) repurchased 667,000 shares on August 21, at a cost of HK$300.3 million.

On August 21, SanDisk (SNDK.O) announced a portfolio of high-endurance SSDs designed for modern network-attached storage (NAS) environments, including the SANDISK NAS 600 SATA SSD and the SANDISK NAS 800 NVMe SSD. These products are designed for multi-user or demanding creative professional workloads, aiming to provide the reliable, stable performance, high endurance, and scalability required for demanding NAS workloads.

On August 21st, the Shanghai Municipal Housing Administration Bureau and the Shanghai Municipal Finance Bureau issued a notice regarding the implementation of a "trade-in" housing subsidy program. The notice stipulates that the subsidy amount for home purchase loans for newly built commercial housing will be determined at 1% of the total loan amount (including housing provident fund loans, commercial loans, and combined loans). For loans not exceeding 5 million yuan, the subsidy will be 1% of the total loan amount; for loans exceeding 5 million yuan, the subsidy will be capped at 50,000 yuan. The total subsidy fund is 200 million yuan, and will be discontinued once exhausted. The "trade-in" subsidy amount is set at 30,000 yuan per unit. Eligible applicants can apply for the subsidy by submitting relevant materials for the "trade-in" program to the real estate transaction center in the district where the newly purchased commercial housing is located, after completing the transfer registration of the second-hand housing and obtaining the real estate registration certificate (pre-registration) or real estate ownership certificate for the newly built commercial housing. After approval, the district real estate transaction center will notify the applicant of the subsidy disbursement and transfer the subsidy to the applicant's bank account.

On August 21st, KPMG UK Senior Economist Dennis Tartakov stated that UK government borrowing continues to veer off track. Net public sector borrowing in July was £1.8 billion, up from £1.1 billion in the same period last year. Since the start of the fiscal year in April, the gap between forecasts and actual borrowing has remained around £2.3 billion. "Normally, July sees strong personal income tax revenue, but that's not enough to put public sector borrowing levels back on track for the fiscal year," Tartakov said, adding that the Burnham government's promised cost-of-living bailout measures are likely to keep borrowing high in the near term. However, market demand for more debt is limited.

On August 21, it was learned that Russian Deputy Foreign Minister Sergei Ryabkov stated in an interview that Russia is open to dialogue with the United States on the Ukraine issue, but will not compromise its principles. Ryabkov pointed out that the US has demonstrated a willingness to engage in constructive dialogue and understand Russia's position. However, the more crucial issue at present is whether "Washington can influence the decisions of the Kyiv regime and its European backers, who are still fantasizing about inflicting a strategic defeat on Russia." Ryabkov stated that US Secretary of State Marco Rubio has indicated the need for new solutions, and Russia is willing to listen to these proposals. He emphasized that Russia is open to dialogue with the US, but this does not mean that Russia will abandon its principles.

On August 21, it was reported that the Japanese government will allocate an additional 150 billion yen (approximately US$944 million) to support chip startup Rapidus, increasing spending in an effort to compete with companies like TSMC. According to a source familiar with the matter, Japan's Ministry of Economy, Trade and Industry will seek more funding for the domestic chip foundry in the 2027 fiscal year budget. This government-backed joint venture, established in 2022, aims to manufacture cutting-edge 2-nanometer chips by 2027 and help Japan reduce its dependence on TSMC. Policymakers consider Rapidus's success and its technological independence in AI, robotics, and quantum computing crucial to national security.

Bernstein raised its price target for NetEase (NTES.O) from $150 to $160.

On August 21, the National Development and Reform Commission (NDRC) released a draft revision of the "Measures for the Administration of Outward Investment" for public comment. In recent years, some countries and regions have experienced instability and policy changes, leading to increased political and security risks. Some investors have underestimated these risks and failed to respond effectively, ultimately suffering losses. To address these issues, the draft revision implements the provisions of the "Regulations" regarding monitoring, early warning, and risk prevention for outward investment, improves the reporting system for overseas reinvestment, and establishes a reporting system for preliminary work on a small number of large-scale projects that are crucial to my country's diplomatic relations with relevant countries. Investors informing the regulatory authorities of these matters will help to jointly prevent and respond to overseas risks.

August 21 - According to the Philippine Institute of Volcanology and Seismology, a 5.1-magnitude earthquake struck near Agusan del Norte province in southern Philippines at approximately 5:12 p.m. on August 21, with a depth of 10 kilometers. The earthquake was felt in several nearby areas. No damage is expected.

Southbound capital saw a significant net outflow of HK$7.63 billion today. In the Shanghai-Hong Kong Stock Connect, Alibaba-W and Xiaomi Group-W experienced net outflows of HK$1.118 billion and HK$590 million respectively; Pop Mart saw the largest net inflow at HK$209 million. In the Shenzhen-Hong Kong Stock Connect, Tencent Holdings and Meituan-W saw net outflows of HK$570 million and HK$341 million respectively; both saw the largest net inflow at HK$496 million.