U.S. President Donald Trump warned of intensified retaliatory strikes against Iran, fueling expectations of a rate hike by year-end amid rising crude oil prices; the dollar extended gains to ¥162.59/$1.1403.

[London Market Overview] On the 20th, the dollar-yen pair showed limited downside in Tokyo trading. Amid thin liquidity due to the Tokyo market holiday, dollar-buying driven by higher crude oil prices and elevated U.S. interest rates receded, pushing the pair down from ¥162.57 to ¥162.30. However, sustained high levels in crude oil prices and U.S. rates supported continued dollar demand, leading to a modest recovery in the afternoon session. • The euro-yen rose from ¥185.59 to ¥185.82. • The euro-dollar climbed from $1.1424 to $1.1445. [Monetary Policy]

Fisco Japan04:43

Moonshot AI Ignites a Shift in AI-Driven Trading: Assessing Winners and Losers in the New Landscape

China's semiconductor ecosystem, memory chip manufacturers, AI agents, and software developers are all winners, while AI model developers and high-end chipmakers are viewed as losers.

wallstreetcn04:33

Have China-based internet giants hit bottom? Bernstein: AI costs are being overly pessimistically interpreted; focus on Tencent.

Bernstein believes the most pessimistic phase for Chinese internet stocks may have passed, and market concerns over AI inference costs have been significantly overstated. With Tencent's HY3 launch and Alibaba Cloud accelerating its growth, conditions are accumulating for a valuation recovery in the sector. Among them, Tencent remains the top pick, with a target price of HK$780, implying approximately 69% upside from current levels.

wallstreetcnJul 20 22:08

On-site Coverage of the World Artificial Intelligence Conference: Fund Managers Survey Three Key Areas

The strongest signal emerging from this year’s exhibition is that AI is rapidly moving beyond 'concept demonstrations' and into the physical world—many of the new products showcased are no longer lab prototypes but mature, mass-producible, and deployable solutions.

China Securities JournalJul 20 21:16

WAIC 2026 Spotlight | Tickets resold outside the venue for RMB 1,300; robots 'split up' inside the exhibition hall

① This year’s WAIC embodied intelligence exhibition area has shown a clear shift—the 'job roles' of robots are beginning to differentiate. The industry is moving from the stage of building general-purpose robots toward deep specialization by specific scenarios. ② Yao Maoqing, Partner at Zhiyuan, believes that the 'GPT-3.5 moment' could arrive by the end of 2027 or early 2028; however, You Yangwei, Head of Bionic Control for Xiaomi Robotics, expressed greater caution: 'That’s a somewhat optimistic estimate.'

cls.cnJul 20 18:37

Express News | Ministry of Foreign Affairs: China and the United States have maintained communication regarding arrangements for interactions between their heads of state within the year.

BreakingsJul 20 15:43