美國民主黨參議員沃倫施壓美國國防部和人工智能公司披露合同信息。

Hong Kong stocks opened lower and briefly rallied before reversing. The Hang Seng Index fell 0.42% to 23,517.7. The Hang Seng Tech Index closed down 0.28% at 4,528.55 after an intraday rise of over 2%. Internet and e-sports names outperformed while memory chips, nuclear power and nonferrous metals lagged. Movers: Nuobikan (02635.HK) +8%, Zhipu (02513.HK) +5%, Meituan (03690.HK) +4.3%, Tencent Holdings (00700.HK) +2.8%. Decliners: Lanqi Technology (06809.HK) -10.5%, Yangtze Optical Fibre & Cable (06869.HK) ~-10%, Kuaishou Technology (01024.HK) -9.5%, Kingboard Laminates (01888.HK) ~-9%, GigaDevice (03986.HK) -8.4%, China Life Insurance (02628.HK) -4.6%, Mengniu Dairy (02319.HK) and Nongfu Spring (09633.HK) down over 4%.

Daiwa said channel checks show sporting-goods retail sales value (RSV) slowed QoQ in Q2 and monthly volatility rose, reducing Xtep’s (1368.HK) near-term predictability. The bank flagged that a core-brand transformation will disrupt wholesale channels and require upfront investment, likely diluting near-term revenue and margins; Saucony can sustain high growth but Xtep’s core brand faces slowing growth and intensifying competition. Daiwa trims EPS forecasts by about 12%, lowers its PT to HKD3.9 from HKD5.2 and downgrades the stock to Hold from Outperform.