深夜，中国资产再爆发！

Core Viewpoint - The article discusses the recent positive inflation data in the U.S. and its implications for potential interest rate cuts by the Federal Reserve, as advocated by Treasury Secretary Mnuchin and President Trump [1][8][10]. Group 1: U.S. Economic Context - U.S. Treasury Secretary Mnuchin expressed optimism about the Federal Reserve's upcoming September meeting, suggesting a possible 50 basis point rate cut and a total reduction of 150 to 175 basis points [1][9]. - Following the announcement, U.S. stock indices opened higher, with notable strength in Chinese assets, as evidenced by the Nasdaq Golden Dragon China Index rising over 2% [1][3]. Group 2: Performance of Chinese Assets - Chinese assets have seen significant foreign investment, with $5.04 million net inflow into U.S.-listed Chinese asset ETFs last week, driven by funds like American Century Avantis Emerging Markets Equity [5]. - Major Chinese tech stocks performed well, with Tencent Holdings ADR up nearly 7%, Meituan ADR up 4%, and Alibaba, NetEase, and Baidu all rising over 3% [6][7]. Group 3: Tencent's Financial Performance - Tencent reported Q2 revenue of 184.5 billion yuan, a 15% year-over-year increase, and operating profit (Non-IFRS) of 69.25 billion yuan, up 18%, both exceeding market expectations [7]. - The company has increased its investment in AI, with R&D spending rising 17% to 20.25 billion yuan and capital expenditure up 119% to 19.11 billion yuan [7].