Daily Buzz: 30 July 2026

US Vows 'Hard' Response to Latest Iran Attacks

President Donald Trump said the US will hit Iran "very hard" after it attacked a US air base in Jordan and a US-owned gas storage tanker at Egypt's port of Damietta. Earlier, US and Saudi Arabia struck sites in Iraq used by Iran-backed militias to attack Saudi oil facilities. The resumption of fighting broke a multiday lull in attacks. Tehran claimed it struck oil tankers sailing outside Iran's authorized channels in the Strait of Hormuz, and Iran-backed Houthis claimed they forced a Saudi oil tanker to turn around in the Red Sea where they have declared a maritime embargo against Saudi Arabia. Benchmark Brent crude futures jumped back above US$90 a barrel on dashed hopes of any foreseeable end to the conflict.

Moonshot AI Secures US$3.5 Billion in Latest Fundraiser

China's Moonshot AI, developer of the recently released, world-first open-weight Kimi K3 AI model, reportedly raised US$3.5 billion in its latest fundraising round, raising its valuation to US$35 billion. Due to strong investor demand that exceeded targets by more than three times, the round closed early. The next round will aim to raise Moonshot's valuation to US$50 billion as the company moves toward an initial public offering.

Japan Quake Death Toll Climbs to 14

Japan said the death toll from an earthquake that struck the southwest of the country on Tuesday has risen to 14 after more casualties were pulled from a 200-store Aeon shopping mall in the city of Kumamoto after the quake triggered an explosion that collapsed floors of the complex. Rescue teams continue to search for people still reported missing. The 7.1-magnitude quake was shallow, heightening damage to houses and buildings in a country where quake standards of construction are rigorous. A Kumamoto chip plant run by Taiwan Semiconductor Manufacturing Corp was slowly resuming operations after a series of aftershocks, a company spokesman said.

Top Business

China Slams US Curbs on Robot Imports

China rebuked the US decision to restrict imports of advanced foreign-made robots on claims that they risk national security and fair competition. Foreign Ministry spokesperson Mao Ning said Beijing firmly opposed Washington's use of national security concerns to suppress Chinese companies. "Protectionism will not improve US competitiveness," she said, adding that China will take all necessary measures to safeguard the legitimate rights of its companies. The US Federal Communications Commission announced restrictions covering foreign-made humanoid robots, four-legged robots and power inverters. The move targets a sector where China has gained a dominant position. Analysts estimate Chinese companies account for about 85 percent of the global humanoid robot market, highlighting growing technology competition between the world's two largest economies.

Microsoft Earnings Beat Forecasts, Meta's Fall Short

Microsoft beat analysts' forecasts with a 31 percent increase in net income to US$35.8 billion in its fiscal fourth quarter ended June 30 and an 18 percent rise in revenue to US$90 billion. Revenue from its Azure cloud-computing business surged 43 percent to US$39.3 billion. Capital expenditure rose more than 70 percent from a year earlier to US$41 billion, though it dropped from US$32 billion in the previous quarter. Microsoft forecast capital spending this calendar year at US$190 billion. The company's share rose 7.5 percent in after-hours trading in New York.

By contrast, Meta shares tanked up to 10 percent in extended trading after the owner of Facebook, Whatsapp and Instagram platforms delivered weaker-than-expected second-quarter revenue, with its Reality Labs unit, which develops AI-powered virtual reality devices and wearables, losing US$4.6 billion. The company posted a 14 percent drop in net income to US$15.9 billion on a 28 percent rise in revenue to US$60.8 billion. The company forecast up to US$145 billion in 2026 capital spending, mostly on AI. "This is ultimately a tale of two AI investment strategies," Stephen Evans, chief investment officer at Pave Finance, told CNBC. "One company is increasing profits while spending heavily, while the other is allowing those costs to eat into its bottom line."

StanChart Posts Record First-Half Profit, Announces Buyback

UK-based Standard Chartered, Hong Kong's third-largest bank, reported a 10 per cent rise in first-half profit to record US$3.4 billion as wealth-management gains offset a one-time charge tied to the Middle East conflict. Operating income rose 6 percent to US$11.6 billion, and the bank's net interest margin slipped to 2.04 percent from 2.05 a year earlier. The bank announced a US$1 billion share buyback.

The World Cup as a Private Business? No, Says Europe

Europe's governing football body has cried foul on FIFA President Gianni Infantino's plan to create a US$20 billion company with private investors–including the family of Donald Trump son-in-law Jared Kushner – to run competitions like the World Cup. "It is not FIFA's to sell. None of us are the owners of football," the Union of European Football Associations said in a scathing pushback.

"The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially." Infantino is a known buddy of US President Trump.

Economy & Markets

MSCI to Add CXMT to Its China Share Index

MSCI, an operator of widely watched global indices, announced it will add Chinese memory chipmaker CXMT to the MSCI China All Shares Index on August 10, following the company's successful US$8.6 billion initial public offering in Shanghai, putting it directly on the radar of global institutional investors. The news sent CXMT shares surging 12.7 percent Wednesday on their third day of trading to close at 52.95 yuan (US$7.83), compared with their offer price of 8.66 yuan a share.

South Korea Stock Market Plunges Again

South Korea's benchmark Kospi index extended its recent sharp declines on Wednesday, falling nearly 6 percent as a semiconductor selloff deepened and concerns grew over market volatility. The index has suffered its worst two-day drop on record after a nearly 11 percent plunge on Tuesday, dragged lower by losses in major chipmakers Samsung Electronics and SK Hynix, which account for more than half of the Kospi's weighting. South Korea's finance minister Koo Yun-cheol said the government may adjust rules governing single-stock leveraged exchange-traded funds, which have been blamed for exacerbating the market selloff.

The tech-heavy Nasdaq in New York fell 1.7 percent on Wednesday, while the Dow Jones average lost 2.2 percent in its worst point drop since April 2025.

US Fed Leaves Rates Unchanged Despite Inflation

The US Federal Reserve left interest rates unchanged at between 3.5 percent and 3.75 percent. Chairman Kevin Warsh said there is no "magic wand" to ease cost-of-living pressures on Americans but repeated his pledge to bring down inflation that is running ahead of Fed targets.

Fitch Ratings Issues Warning on AI Boom

Fitch Ratings service warned that the AI boom and a selloff in technology shares are emerging as major global credit risks, adding to investor concerns that spending on AI may be running far ahead of prospective returns. In its third-quarter Global Risk Outlook, the agency said the AI boom has become increasingly intertwined with economic growth and capital markets, particularly in the US, raising the risks of any major selloff. It said concerns about who's paying for the AI spending boom and rising tech competition from China are affecting share prices of major technology companies. Fitch said largely AI-driven corporate bond issues in the first half of this year jumped 26 percent, with Amazon, Alphabet, Nvidia, Meta, Oracle and SpaceX together issuing US$182 billion of investment-grade bonds.

Hedge Fund Returns Bask in AI Investments

Global hedge funds are on track for blockbuster returns this year, profiting from investments in the artificial intelligence boom, Reuters reported, citing a note Goldman Sachs sent to clients. In the first half, hedge funds returned an average of 7 percent, exceeding their long-term average of 4.1 percent for the sixth consecutive six-month period. A July survey of 341 investors backing hedge funds showed nearly half planned to increase holdings in the second half.

Corporate

Kingsoft Office Signals Jump in Half-Year Earnings

Beijing-based Kingsoft Office, which develops WPS Office tools, flagged a 264 percent jump in first-half profit to as much as 2.7 billion yuan (US$399 million) on a 28 percent revenue increase to a record 3.4 billion yuan. Its flagship WPS Office is a rival to Microsoft Office, with 678 million users last year. Kingsoft attributed its earnings forecast to a deeper integration of tools with office uses, citing the launch of its new Lingxi Professional edition that can handle complex office tasks.

Singapore Air Swings to Loss From Profit

Singapore Airlines reported a S$76 million (US$59 million) net loss for its fiscal first quarter ended June 30, the first quarterly deficit since the end of the Covid pandemic. The flagship carrier cited losses at its associate Air India and higher jet fuel costs from the Middle East conflict. The airline's loss, which exceeded forecasts, turned from profit of S$186 million a year earlier.

Robot Maker DexForce Mulls IPO in Hong Kong

Chinese humanoid robot manufacturer DexForce Technology is weighing an initial public offering in Hong Kong that could raise several hundred million US dollars, Bloomberg reported. The company is in talks with potential IPO advisors. DexForce make software and hardware products, including the EmbodiChain embodied intelligence development platform, the DexForce W1 Pro general-purpose humanoid robot and the DexSense pure-vision sensor. The company raised 1 billion yuan (US$148 million) in its latest fundraising round, taking the company's valuation above 10 billion yuan.

China Insulin Injection Wins US Drug Regulatory Approval

China's Tonghua Dongbao Pharmaceutical has received approval from the US Food and Drug Administration to market its rapid-acting insulin injection, the first of its kind in China to win US approval. The injection, jointly developed with Nanjing-based King-Friend Pharmaceutical, gives Tonghua Dongbao access to one of the world's largest diabetes treatment markets.

Ping An Good Doctor Unveils 11 Longevity Centers

Hong Kong-listed Ping An Healthcare & Technology, operating as Ping An Good Doctor, announced 11 longevity centers across China, marking the creation of an integrated online and offline ecosystem for long-term health management. The initiative is aimed at early disease detection and chronic disease management, as China's population aged 60 or above reaches 323 million.

Pop Mart Opens First Foreign Dessert Shop With Toy-Inspired Goodies

Beijing-based Pop Mart, seeking other revenue streams as the buying craze for "blind box" toys like its Labubu monster dolls fades, is opening its first international dessert shop in Singapore. The venue features toy-inspired goodies like black sesame Labubu popsicles and double cheesecake Molly. Pop Mart said it is considering opening dessert shops in the US, Europe and elsewhere in Southeast Asia after opening its first outlet in the Chinese city of Qinhuangdao in April.

Meitu Upgrades AI Retouching Tool to Expand Market

Meitu has released its latest version of Meitu Yunxiu, its professional AI portrait-retouching tool designed for commercial photography, wedding portraiture and travel shoots. New features include a photo selection system and an algorithm for smoothing skin and facial structure. To date, over 30,000 commercial photography studios have adopted Meitu Yunxiu, processing more than 500 million photos annually.

Budweiser APAC Posts Revenue Decline on Weak China Sales

Hong Kong-listed Budweiser APAC, which sells beer in the Asia-Pacific, said first half revenue fell 1.4 percent from a year earlier to US$3.2 billion, delivering a 0.15 percent rise in profit to US$481 million. The company cited a weak performance in China, where second-quarter revenue decreased 8.6 percent and beer volumes dropped 9.7 percent.