Group 1 - The Hang Seng Internet Technology Index rose by 2.64% on July 23, with the Hang Seng Internet ETF (159688) increasing by 2.76% and trading volume exceeding 150 million [1] - Major component stocks such as Yisou Technology, China Civil Aviation Information Network, Kuaishou-W, Baidu Group-SW, and Tencent Holdings saw significant gains, with Yisou Technology rising over 11% [1] - A global RWA data industry conference is scheduled for July 30 in Hong Kong, aimed at promoting the establishment of the "Hong Kong RWA Global Industry Alliance" and showcasing the latest experimental results in green finance and carbon credits [1] Group 2 - Southbound funds have been actively buying Hong Kong stocks, with net purchases reaching approximately 797.4 billion HKD this year, nearing last year's total of 808 billion HKD [2] - Southbound funds are becoming a key support force for the market, with a diversified allocation into information technology and communication services, while maintaining a core focus on financial stocks [2] - The outlook for the Hong Kong stock market remains positive, supported by the long-term undervaluation of the RMB and the appeal of Hong Kong stocks as core RMB assets [2] Group 3 - The initial DeepSeek market trend led to a revaluation of Chinese assets, which was interrupted by tariff disturbances in April, but since May, the revaluation has been driven by financial, consumer, and pharmaceutical sectors [3] - The Hang Seng Index has returned to 24,000 points, and while negative pressures are expected in the third quarter, recent marginal changes indicate that the pressure may be milder than anticipated [3] - The technology sector, comprising nearly one-third of the Hong Kong market, is highlighted as a key area for investors to focus on for potential revaluation opportunities [3]

【导读】标普500指数再创新高，科技巨头亚马逊、马斯克再度加码AI，原油下跌、黄金提振 见习记者储是 美东时间7月22日，美股三大指数涨跌不一，标普500指数再创新高，科技股巨头涨跌不一，热门中概股普涨。 亚马逊、马斯克xAI继续加码AI领域；关税谈判陷入停滞，原油价格持续走弱，黄金价格因美元走弱而提振。 美股三大指数涨跌不一，市场在消化近期涨幅 截至收盘，道琼斯工业指数上涨0.40%，报收于44502.44点；纳斯达克指数下跌0.39%，报收于20892.69点；标普500指数上涨0.06%，报收于6309.62点，再 创新高。 Baird投资策略分析师Ross Mayfield指出，市场在消化近期涨幅，目前处于蓄势观望阶段。接下来一两周，两大重磅催化剂即将落地：一是8月1日的关税 大限，二是美股七巨头密集披露的关键财报。 大型科技股涨跌不一 大型科技股涨跌不一，谷歌上涨0.50%，苹果上涨0.9%，特斯拉上涨1.1%。英伟达下跌2.54%，Meta下跌1.16%，微软下跌0.94%，亚马逊下跌0.78%。 热门中概股普涨 热门中概股普涨，纳斯达克中国金龙指数收涨1.7%。大全新能源涨16.79%，蔚来涨超 ...

当地时间周二（7月22日），美国股市三大股指收盘涨跌不一，其中标普500指数继续上行，创收盘历史新高。 中概股普遍上涨，纳斯达克中国金龙指数涨1.7%。 日元兑美元跳水，特朗普称将对日本商品征收15%关税，日本将向美国投资5500亿美元。 标普500指数创历史收盘价新高 当地时间7月22日，美国股市三大股指收盘涨跌不一，其中道琼斯工业指数收盘涨0.4%，报44502.44点，标准普尔500指数收盘涨0.06%，报6309.62点，纳 斯达克综合指数收盘跌0.39%，报20892.69点。值得注意的是，当天标准普尔500指数创出历史收盘价新高。 美股大型科技股涨跌互现。英伟达跌超2%，Meta跌逾1%，微软跌近1%，亚马逊跌0.8%，特斯拉涨逾1%，苹果涨近1%，谷歌涨0.65%。 美股银行股多数上涨，富国银行涨逾2%，花旗集团涨超1%，美国银行涨0.53%，摩根大通涨0.11%，高盛跌0.81%，摩根士丹利跌0.29%。 能源股集体上涨，康菲石油、斯伦贝谢涨逾2%，西方石油涨超1%，埃克森美孚涨0.41%，雪佛龙涨0.24%。 航空股涨跌互现，美国航空涨超1%，西南航空涨0.81%，美联航跌逾1%，达美航空跌 ...

Domestic Market Overview - The domestic market experienced a strong upward trend with both volume and price increasing, as the Shanghai Composite Index closed at 3559.79 points, up 0.72%, and the Shenzhen Component Index closed at 11007.49 points, up 0.86% [1][9] - Among the 30 first-level industries, 27 saw an increase, with construction materials, construction, and steel leading the gains, while only banking, comprehensive finance, and computers experienced slight declines [1][9] - The total trading volume in the A-share market reached 172.71 billion yuan, showing an increase compared to the previous day [1][9] Overseas Market Overview - The three major U.S. stock indices closed mixed, with the Dow Jones down 0.04%, the S&P 500 up 0.14%, and the Nasdaq up 0.38% [2] - The Chinese concept stocks showed mixed performance, with Huya rising over 16% [2] Key News Highlights - The Ministry of Commerce reported that the national online retail sales increased by 8.5% from January to June [3][14] - The China Internet Network Information Center (CNNIC) released its 56th statistical report, indicating that as of June, the number of internet users in China reached 1.123 billion, with an internet penetration rate of 79.7% [3][15] - The State Council published the "Housing Rental Regulations," effective from September 15, 2025, aimed at regulating housing rental activities and promoting high-quality development in the rental market [3][11][12] Market Drivers - The National Energy Administration reported that the total electricity consumption in June was 867 billion kWh, a year-on-year increase of 5.4%, with a cumulative electricity consumption of 4841.8 billion kWh from January to June, up 3.7% [10][19] - On the same day, 4005 stocks in the A-share market rose, with 382 stocks increasing by over 5%, indicating a strong market sentiment [10]

Core Viewpoint - The Hong Kong stock market showed a slight recovery after an early dip, with the Hang Seng Index rising by 0.25% and reaching a new high since early April, driven by significant gains in infrastructure and high-speed rail stocks [1] Group 1: Market Performance - The Hang Seng Index increased by 0.25%, peaking at 25,120 points, marking a new high since early April [1] - The National Enterprises Index and Hang Seng Technology Index saw minor increases of 0.01% and 0.07% respectively, both reaching new highs during the session [1] Group 2: Sector Performance - Infrastructure stocks, particularly in the high-speed rail sector, experienced notable gains, with China Communications Construction rising by 8.6%, and China Railway Construction and CRRC Corporation both increasing by over 5% [1] - Gold prices returned to $3,400, leading to a general rise in gold stocks amid increasing risk aversion [1] - The semiconductor sector remained active with continuous catalysts, while hydroelectric power concepts and related stocks also saw upward movement [1] Group 3: Individual Stock Movements - Kuaishou rose by 1.5%, while Baidu and Tencent saw slight increases; Meituan fell nearly 2%, and JD.com and Alibaba had declines of less than 1% [1] - China Longgong experienced a dramatic surge of 48% at one point, while cement stocks showed mixed results, with Huaxin Cement dropping over 11% after a previous rise of 85.6% [1] - Apple-related stocks, domestic banks, and airline stocks generally declined [1]

Market Performance - On July 21, U.S. stock markets experienced a high and then a pullback, with the Nasdaq and S&P 500 indices reaching all-time highs, and the Nasdaq briefly surpassing 21,000 points [1][5] - At the close, the Dow Jones Industrial Average fell by 0.04%, the Nasdaq rose by 0.38%, and the S&P 500 increased by 0.14% [5] - Major tech stocks showed mixed performance, with Google up by 2.80%, Amazon up by 1.43%, and Meta up by 1.23%, while Tesla and Nvidia saw declines of 0.35% and 0.60% respectively [6][8] Chinese Concept Stocks - The Nasdaq Golden Dragon China Index fell by 0.28%, with notable gains in stocks like NetEase up over 23%, while companies like New Oriental and Century Internet dropped by over 6% [10][11] Commodity Market - As of 6:12 AM Beijing time, spot gold rose by 0.08% to $3,399.482 per ounce, while COMEX gold futures increased by 1.55% to $3,411.7 per ounce [2][15] - Crude oil prices saw slight declines, with ICE Brent down by 0.25% and NYMEX WTI down by 0.41% [17][18] Credit Outlook - Fitch Ratings indicated that policy risks are casting a shadow over the U.S. credit outlook, downgrading the outlook for 25% of U.S. industries to "deteriorating" for 2025 due to increased uncertainty and expected prolonged high interest rates [3][12] Earnings Season - As the earnings season begins, the S&P 500 reached a historical high, with analysts emphasizing the importance of navigating this period without significant missteps to maintain market momentum [12]

Core Viewpoint - The S&P 500 and Nasdaq indices reached all-time highs, driven by major stocks like Google A, while investors are focused on the earnings reports of the seven tech giants and trade negotiations [1] Market Dynamics - The Dow Jones Industrial Average fell by 19.12 points, or 0.04%, closing at 44,323.07 points; the Nasdaq rose by 78.52 points, or 0.38%, closing at 20,974.17 points; the S&P 500 increased by 8.81 points, or 0.14%, closing at 6,305.60 points [3] Sector Performance - Among the 11 sectors of the S&P 500, the telecommunications sector rose by 1.9%, while the energy sector fell by 0.96%. The technology sector showed a modest increase of 0.13% [4] Popular Stock Performance - Major tech stocks had mixed results: Google A increased by 2.72%, Amazon by 1.43%, Meta by 1.23%, Apple by 0.62%, while Tesla decreased by 0.35% and Nvidia by 0.60% [5] Notable Stock Movements - Century Aluminum surged over 9%, and companies like Americas Silver and Pan American Silver rose nearly 5%. Verizon's stock increased by over 4% after raising its annual earnings guidance. Block's stock jumped over 7% as it is set to be included in the S&P 500 index [6]

来自北京大学，清华大学的研究团队联手京东（JD.com）在 ACM MM 2025 发表了一种以事件为中心低成本高效的 Training-Free 视频异常检测框架 EventVAD，论文第一作者邵轶骅目前为北京大学学术访问学生，项目负责人为来自京东 （JD.com）的算法研究员马傲，目前代码和数据已全面开源。 现有视频异常检测（Video Anomaly Detection, VAD）方法中，有监督方法依赖大量领域内训练数据，对未见过的异常场景泛 化能力薄弱；而无需训练的方法虽借助大语言模型（LLMs）的世界知识实现检测，但存在细粒度视觉时序定位不足、事件 理解不连贯、模型参数冗余等问题。 为此，来自北大、清华和京东（JD.com）的研究团队提出了一种全新的视频异常检测框架 ——EventVAD。该框架通过动态 图架构与多模态大模型（MLLMs）的时序事件推理结合，在减少模型参数的同时，显著提升了异常检测的精度和效率。实验 结果显示，EventVAD 在 UCF-Crime 和 XD-Violence 两大数据集上均超越现有 SOTA 方法，成为无需训练场景下的新标杆。 论文标题：EventVAD: Tra ...

Core Viewpoint - The article discusses the mixed performance of major US tech stocks, with Tesla showing a notable increase, while other companies like Microsoft and Nvidia experienced declines. Additionally, it highlights the pressure from former President Trump on the Federal Reserve to lower interest rates despite positive economic indicators in the US [1][2][3][4][5][6]. Group 1: US Tech Stocks Performance - Tesla's stock rose by 2.67%, reaching $327.946, while other tech giants like Google, Apple, and Amazon saw modest gains, and Microsoft, Facebook, and Nvidia experienced declines of -0.30%, -0.41%, and -0.81% respectively [2][1]. - The overall mixed performance reflects varying investor sentiment and market reactions to economic data and external pressures [1][2]. Group 2: Economic Indicators and Federal Reserve Pressure - Recent economic data shows positive trends, including an increase in US retail sales, a rise in consumer confidence to a five-month high, and a decrease in unemployment claims, indicating a robust job market [4][5][6]. - Despite these positive indicators, Trump has repeatedly urged the Federal Reserve to consider a significant interest rate cut, suggesting a potential savings of $1 trillion over a year if rates were lowered by 3 percentage points [3][6]. - Market expectations indicate that the likelihood of a rate cut by the Federal Reserve at the end of July is low, with a more probable adjustment in September based on upcoming inflation data [6]. Group 3: Chinese Stocks and Market Sentiment - Chinese stocks have shown strong performance, with indices like the Nasdaq China Golden Dragon Index and the Wind China Technology Leaders Index both rising over 2% [7][8]. - Notable individual stocks such as Tiger Brokers and Futu Holdings saw increases exceeding 8%, reflecting positive sentiment towards Chinese tech companies [9]. - The influx of capital into Chinese assets is attributed to a global reassessment of their value, with the Hang Seng Index leading major global indices with over a 20% increase this year [10][11].

Market Overview - On July 18, Hong Kong stocks experienced a significant rally, with the Hang Seng Technology Index rising by 1.65% to close at 5538.83 points, and the Hang Seng Index increasing by 1.33% to 24825.66 points. The total market turnover reached 2386.91 million HKD, with net inflows from southbound funds amounting to 59.31 million HKD [2][3]. Company Highlights - Alibaba's stock rose by 2.93% on July 18, reflecting strong performance in the internet technology sector [4]. - Alibaba's international station in Jinan launched a cross-border e-commerce incubation center, covering an area of 20,000 square meters, aimed at providing services for local enterprises to expand into global markets [6]. - Bilibili's stock surged by 4.06% following the introduction of the "Shanghai Nine" policy, which supports content creators and encourages cultural exports [7]. - China New Economy Investment saw a dramatic increase of 394.38% in its stock price, following the announcement that its founder acquired 50.71% of the company's shares [8]. Semiconductor Sector - Semiconductor stocks showed mixed performance on July 18, with notable gains for companies like SMIC, which rose by 1.73%, and Kanton, which increased by 5.33%. However, Fudan Microelectronics experienced a decline of 1.30% [13]. - TSMC reported a net profit of 398.3 billion TWD for Q2, marking a year-on-year increase of 60.7%, exceeding market expectations [14]. - NVIDIA resumed sales of its H20 chips to China, and AMD plans to restore chip exports to China after receiving U.S. government approval [15]. Analysts predict continued high growth in the semiconductor sector driven by AI investments and increased capital expenditures [15]. Huawei and Related Stocks - Huawei's concept stocks, particularly Huya Technology, surged by 15.56%, reaching a new high since February 27, with a trading volume of 9.52 million HKD. This increase is attributed to Huawei's upcoming offline exhibition of the Ascend 384 super node at the World Artificial Intelligence Conference [16].