RBNZ says the neutral interest rate is uncertain.

海外科技新聞證實，OpenAI旗下的 GPT-5.6旗艦模型（Sol、Terra及Luna序列）已獲美國商務部批准，鎖定於本週四（7月9日）面向公衆全面鋪開；而馬斯克旗下SpaceX AI（整合了Cursor編程數據）的Grok 4.5也宣佈完成私有Beta測試，於明日正式公測。加上即將上線的Google Gemini 3.5 Pro與DeepSeek V4正式版，全球AI實驗室正從“季度更新”被逼入“按周甚至按月跌代”的軍備競賽。大廠急於將模型推向市場，本質上是爲了在二季度財報季到來前，用終端算力產出來對衝華爾街對天價CapEx的嚴格審視。 Constellation Research及市場公開數據顯示，前沿模型的競爭邏輯正在發生深刻分化：一方面是OpenAI與Grok追求萬億/萬億級（1.5T+V9架構）的極端推理能力；另一方面則是DeepSeek V4憑藉極高的Token成本收益比（如每百萬Token低至$0.09）迅速收割開源市場及Agent場景份額。這一對比使得市場意識到：如果高成本旗艦模型不能帶來相匹配的壟斷級商業回報，流量將加速向極致性價比的推理端與專用芯片（ASIC）傾斜。

Daiwa raised its target price on WuXi AppTec (02359.HK) to HK$190 from HK$138, kept a Buy rating and named the stock a China CXO top pick. The broker lifted adjusted non‑IFRS net profit forecasts for this year and next by 13.5% and 21.3%. WuXi reported Q1 recurring operating revenue up 39.4% YoY and adjusted non‑IFRS net profit up 71.7% YoY, beating consensus and company guidance, driven by small‑molecule CDMO contribution, increased project deliveries and a low Q1 2025 base. Daiwa left full‑year TIDES revenue growth guidance at 40% and said the strong Q1, rising backlog and healthy new order intake support confidence in 2026 TIDES delivery and the potential for upward revision to FY2026 guidance. Inclusion on China’s 1260H list is not expected to affect the company’s near‑ to medium‑term outlook, Daiwa added.