Spot gold fell to $4,050/oz, down 0.77% intraday.

China A-share biopharmaceuticals sector spiked intraday; Nuoweizan jumped over 10%, with Nuosiland, Saisheng Pharma, Sanyuan Gene, Haofan Biotech and Sansheng Guojian also rallying.

Nomura reiterated a buy on Lenovo Group (00992.HK) and raised its target price to HK$35 from HK$16, based on 20x FY2027 EPS, implying about 46% upside. The broker said momentum in Lenovo’s general server business may exceed expectations; despite the stock rallying more than 100% since May, Nomura expects further upside because the market has not fully priced the server opportunity, its FY2027/28 earnings forecasts run roughly 10% above consensus, and Lenovo is in a re-rating phase with peers such as Dell trading near 30x one-year forward P/E. Nomura lifted its FY2027/28 EPS forecasts by 12%.