Real-time News

The yield on Japan's two-year government bonds rose 1.5 basis points to 1.445%.

According to the official measurement of the China Earthquake Networks Center, a 3.7-magnitude earthquake occurred in Shaya County, Aksu Prefecture, Xinjiang (41.00 degrees north latitude, 83.31 degrees east longitude) at 11:59 on July 9, with a focal depth of 22 kilometers.

July 9th - The Japanese bond market is signaling declining confidence in the central bank's ability to curb inflation, while government spending plans further exacerbate fiscal pressures. This week, yields on 10-year and 20-year Japanese government bonds surged to multi-decade highs as renewed concerns arose about Prime Minister Sanae Takaichi's commitment to fiscal discipline and monetary policy normalization. On Wednesday, the spread between 10-year and 2-year JGB yields widened to 143 basis points, the highest level since 2004, reflecting heightened market concerns about long-term inflation and price risks, while expectations for short-term Bank of Japan rate hikes weakened. Kento Minami, senior economist at Daiwa Securities, stated, "The recent steepening of the yield curve is a warning sign from investors, indicating a gap between the risks the market is measuring and the government's fiscal and monetary policies."

On July 9th, in a report titled "Investment Strategy: Going Long on China's AI Value Chain," Goldman Sachs analyst Louis Mille wrote, "China's AI industry has officially come into our view." The reason given is that "the unprecedented combination of massive government support, surging global demand, and structural capital rotation makes China's AI one of the most compelling growth stories in the technology sector today." Goldman Sachs presented three key points to support its investment argument: Chinese AI companies' market capitalization is severely mismatched with market size, leaving ample room for valuation upside; the Chinese AI industry chain possesses unique competitive advantages that are currently undervalued by the market; and the Chinese AI sector is outperforming other Chinese assets, with funds structurally increasing their allocation.

On July 9th, it was learned that XPeng Group held its first all-staff meeting for its Robotaxi business and announced the official launch of employee internal testing. He Xiaopeng stated that in the next ten years, all embodied intelligent carriers will essentially become robots. Robotaxi is a crucial step for XPeng from new energy vehicles to "robot cars," and a key piece in XPeng's physical AI landscape. Based on the development trend of software and hardware integration in the AI era, XPeng will focus on vehicle platforms, autonomous driving software, and AI capabilities to become a Robotaxi software and hardware service provider serving global partners. By providing complete solutions, XPeng will promote the global deployment of Robotaxi.

July 9th - According to China.com, the State Council Information Office will hold a press conference at 10:00 AM on Tuesday, July 14th, 2026, where Wang Jun, Deputy Director of the General Administration of Customs, will introduce the import and export situation in the first half of 2026 and answer questions from reporters.

July 9th - Following the second consecutive day of US strikes against Iran, the fragile ceasefire agreement between the two countries is increasingly unstable, bringing traffic in the Strait of Hormuz to a near standstill on Thursday. Ship tracking data shows that observable traffic on this vital global energy corridor is concentrated primarily on the northern side of the waterway, via Iranian-approved routes, while the US-backed Oman corridor is virtually deserted. Among large vessels, only one very large crude carrier (VLCC) sanctioned by the US has left the Persian Gulf, while one container ship flying the Iranian flag was seen in the strait. However, it cannot be ruled out that some vessels may have passed through the strait with their transponders switched off. This contrasts sharply with recent daily activity in the Strait of Hormuz. Kpler data shows that in the three weeks since the US and Iran reached a temporary agreement to reopen the Strait of Hormuz, the average daily transit of cargo ships has been 34, peaking at 59 on June 24th, compared to less than 20 on most days during the war.

July 9th - According to a press conference held today by the National Forestry and Grassland Administration, as part of the APEC China Year series of events, under the guidance of the Ministry of Natural Resources, the National Forestry and Grassland Administration, the People's Government of Guangdong Province, and the People's Government of Shenzhen Municipality will convene the APEC Forestry Ministerial Meeting in Shenzhen from July 27th to 28th. The theme of the meeting is "Building a Green Asia-Pacific and Sharing Ecological Benefits".

MINIMAX-W (00100.HK) fell by more than 10%.

New York silver futures fell below $58 per ounce, down 1.21% on the day.

Iranian Foreign Ministry spokesman: Those parties that provided territory, bases and infrastructure in Europe to the US and Israel for military operations cannot escape their responsibility for complicity and its consequences.

Iranian Foreign Ministry spokesman: NATO Secretary General Rutte has repeatedly acknowledged the involvement of European countries in the military aggression against Iran, which once again confirms that Europe is not neutral in this war.

July 9th - Goldman Sachs predicts that if the 60-day negotiations continue and Iranian oil waivers are reinstated, oil flows in the Persian Gulf will recover by the end of July, requiring an additional 6.6 million barrels per day to be transported through the Strait of Hormuz. However, if negotiations break down, tanker attacks escalate, and the US may impose a blockade on Iranian oil, Persian Gulf flows could decline further.

On July 9, Iran's Permanent Representative to the United Nations, Illavani, sent a letter on July 8 to UN Secretary-General António Guterres and the Security Council's President for the month, Zenon Ngai Mukongo, Permanent Representative of the Democratic Republic of Congo to the UN, condemning in the strongest terms the United States' repeated acts of aggression and its continued violations of the UN Charter and other norms of international law. The letter stated that the latest round of US aggression blatantly violates relevant provisions of the UN Charter and contravenes the provisions of the Islamabad Memorandum of Understanding. The US's repeated and deliberate violations of its commitments fundamentally betray the Memorandum of Understanding and must bear full international responsibility for all legal and political consequences arising from its illegal actions and the dangerous escalation of the situation. Given the seriousness of the situation, Iran reiterated the responsibilities entrusted to the UN Secretary-General and the Security Council by the UN Charter, particularly in cases involving aggression and threats to international peace and security. Iran urgently called on the Secretary-General and the Security Council to take immediate, effective, and decisive measures to compel the United States to cease its continued illegal acts of aggression and prevent further escalation.

Samsung Electronics shares erased earlier gains and are currently down 2.2%.

Goldman Sachs: If the 60-day negotiations continue and the Iranian oil waivers are restored, the Persian Gulf oil supply is expected to recover by the end of July; this would require an increase of 6.6 million barrels per day in oil supply from the Strait of Hormuz.

On July 9th, HSBC Global Research issued a report lowering its earnings forecast for Alibaba (09988.HK) to reflect continued higher AI investment. The target price for the Hong Kong-listed shares was reduced from HK$172 to HK$166, primarily due to a reduction in the US-listed share target price from US$176 to US$170. The "Buy" rating was maintained. The bank lowered its adjusted net profit forecast for the company's fiscal year 2027 by 3.7% to RMB 99.404 billion. Looking ahead to the first fiscal quarter ending June 30th, revenue is expected to rise 8% year-on-year to RMB 267.934 billion, while adjusted net profit is expected to fall 41% to RMB 20.877 billion. The bank also noted that if Alibaba's China e-commerce business profitability bottoms out in the first fiscal quarter, its share price may be further revalued.

July 9th, Futures News: The current crude oil market is highly fragile and sensitive, especially regarding the erratic behavior of the United States, making it prone to significant fluctuations. The previous decline in oil prices was a precise reflection of the concentrated release of resources following the opening of the Strait of Hormuz. However, with escalating geopolitical tensions, oil prices are expected to re-enter an upward trend, driven by a prolonged supply recovery cycle and rising panic. It is anticipated that WTI and Brent will test the $75 and $80/barrel levels respectively in the short term. If the conflict continues, a return to above $90/barrel would not be surprising; if the conflict subsides quickly, oil prices will likely trade between $65 and $75/barrel.