πŸ“Š Market Snapshot

  • Gold (XAUUSD): 4290.81 (+1.19% intraday, pulled back from 4298.68 high)
  • WTI Crude (USOIL): 76.83 (-0.70% ↓)
  • S&P 500: 7709.96 (-0.18%, previous close)
  • Dow Jones: 53885.10 (-0.85%, previous close)

Gold pulled back after hitting an intraday high of 4298.68, just $10 short of the 4300 milestone. WTI crude fell below $77 as UAE production surge and Hormuz Strait shipping disruption sent mixed signals. A-shares closed higher across the board; European markets opened slightly up.

πŸ”₯ Key News This Hour

1. SK Hynix Commits $38.4B to Chip Expansion in South Korea

SK Hynix announced a $38.4 billion investment to expand chip operations in South Korea. The plan includes 19.1 trillion KRW ($13.47B) for the M17 fab in Cheongju and 35.2 trillion KRW for phase-two fab construction in Yongin, with completion targeted by 2031. The Yongin facility will produce HBM and next-generation DRAM. The company also declared a quarterly cash dividend of 375 KRW per share. This marks one of the largest single semiconductor investments in recent memory, signaling strong HBM capacity expansion.

2. A-Shares Close: All Three Major Indices Up Over 1%

Shanghai Composite +1.02% at 3940.04, Shenzhen Component +1.42% at 14311.01, ChiNext +1.35%. CRO concept stocks surged with multiple limit-ups; CPO concept strengthened. Total turnover reached 266.44 billion yuan, up 135.6 billion from the previous day. Main capital inflow was 36.44 billion yuan.

3. UAE Hits Record 4.1M Barrels/Day After Exiting OPEC

Just three months after leaving OPEC, Abu Dhabi National Oil Company is expanding capacity at a stunning pace, with the 5 million bpd production target moved up to 2027. Saudi Arabia has been forced to cut prices in response. Meanwhile, Kpler data shows only 6 oil tankers passed through the Strait of Hormuz this week, indicating severe shipping disruption. Supply-side expansion and transport-side bottlenecks are creating a tug-of-war.

4. China’s Ministry of National Defense Responds to Japan’s Cruise Missile Test

Defense Ministry spokesperson Senior Colonel Chen Xi stated that Japan’s accelerating development of offensive weapons is “increasingly brazen and extremely dangerous,” warranting high vigilance from regional countries. The ministry also reaffirmed China’s sovereignty over Huangyan Island and vowed to resolutely counter any maritime provocations.

5. HKEX IPO Fundraising Reaches 328.2B HKD in First 7 Months, +154% YoY

From January to July 2026, 104 new companies listed on HKEX, up 96% year-on-year. IPO fundraising totaled 328.2 billion HKD, a 154% increase from the same period last year. Hong Kong’s financing function continues to recover.

🧭 Assessment

SK Hynix’s $38.4B expansion plan is the most significant news this hour β€” HBM demand expectations continue to heat up, and memory chip giants are voting with real money.

UAE’s record 4.1M bpd production coupled with Hormuz Strait shipping disruption intensifies the crude oil tug-of-war β€” supply-side expansion and transport-side bottlenecks create a hedge, leaving short-term oil direction unclear.

A-shares closed up over 1% across all three indices, with turnover consistently above 2.6 trillion yuan and CRO/CPO concepts leading β€” risk appetite remains strong, but tonight’s non-farm payroll data could impact global risk assets.

Gold pulled back to around 4290, just a step away from 4300 β€” tonight’s NFP data will determine whether gold can hold above 4300: weak data could drive a breakout, while strong data may trigger a pullback of the week’s gains.

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