烏克蘭總統澤連斯基：計劃在週三與美國總統特朗普討論空中防禦問題。

Short term (within 3 months): SK Hynix’s U.S. listing, which would raise about $29 bln, is likely to reallocate liquidity across the AI/memory cohort, so Hynix and Micron are more likely to move together than to show pure market-share transfer. A Hynix rally accompanied by a Micron sell-off would signal tighter-than-expected AI-sector liquidity and would likely prompt more cautious positioning ahead of an Aug–Oct pullback. Mid term (6–18 months): competition will center on HBM4. Current share split is roughly SK Hynix 56%, Micron ~21%; 2026 HBM4 forecasts point to Hynix 54%, Samsung 28%, Micron 18%. The ~$29 bln raised will be directed to new fabs and EUV tools, materially increasing Hynix’s capital edge. The industry remains supply-constrained and profitable, but Micron can no longer rely on being the sole U.S.-listed memory play to avoid competitive pressure. Political support for Micron from Trump could blunt downside risk, so a severe mid-term loss appears unlikely. Long term (2027+): outcomes hinge on who weathers a possible 2028–29 oversupply. Hynix’s ~$29 bln equity infusion strengthens its balance sheet and liquidity buffer relative to Micron, representing the most enduring structural disadvantage for Micron if a prolonged downturn occurs. — Analyst Emily Scarlet

港股低開高走，恆生科技指數漲超1%，恆指漲0.7%。科網股回暖，美團(03690.HK)漲4.7%，小米集團(01810.HK)漲3.5%，百度(09888.HK)漲2.5%，阿里巴巴(09988.HK)漲近2%。