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Real-time News
Israel Defense Forces: During the night, the Israel Defense Forces attacked and destroyed four weapons storage facilities belonging to the Hamas terrorist organization.On July 16th, Baidu Group issued an announcement stating that its board of directors has authorized management to proceed with the voluntary conversion of its listing on the Main Board of the Hong Kong Stock Exchange into a primary listing, expected to take effect this year. Upon completion of the relevant procedures, Baidu will achieve a dual primary listing in Hong Kong and Nasdaq. The announcement stated that once the dual primary listing takes effect, it will enhance the liquidity of the companys securities, expand its investor base, and provide greater flexibility for accessing both capital markets. Market analysts believe that if the process proceeds smoothly and the inclusion conditions for the Stock Connect program are met, Baidu is expected to catch the adjustment window for the Stock Connect program in September this year.On July 16th, Futures News reported that trading in Irans semi-finished product import and export market was sluggish this week, influenced by escalating geopolitical tensions, the de facto closure of the Strait of Hormuz, and a new round of US naval activities implemented since July 14th. Notably, a bulk carrier carrying 43,000 tons of billets collided and sank in the Strait of Hormuz, increasing uncertainty in shipping in the area. This led to a large number of vessels being stranded at anchor or canceling voyages, and all international shipping tenders were forced to halt. Some steel mills attempted to offer FOB prices of $410-415/ton, but international buyers generally withdrew from the market, with only a small number of billet road transport transactions recorded at the Afghan border. Meanwhile, due to tight supply, domestic billet prices rose to $423/ton, resulting in a severe price inversion between domestic and international markets. Overall, the disruption of shipping routes and the severing of import channels (due to new US sanctions) are forcing Iranian steel mills to focus their limited resources entirely on the domestic market, and the international trade flow of semi-finished products will face long-term and significant disruptions in the short term.Baidu (BIDU.O) rose 1.8% in pre-market trading.Market news: Google has been fined €854,250 in Italy for its gambling ads, and the court has rejected its appeal.
