Market Overview - The Hang Seng Index is facing resistance at 26,000 points, influenced by the extension of the US-China tariff truce and a more dovish stance from the US Federal Reserve, which may lead to interest rate cuts [2][5] - The overall market is active with a positive risk appetite, and capital is rotating among different sectors [2] Short-term Sector Outlook - Focus on the upcoming release of China's August Caixin Services PMI and the US Federal Reserve's Beige Book [3] Macro Focus - The Chinese express delivery industry is accelerating its "anti-involution" measures, with price increases in core e-commerce areas [4] - In August, over 2.65 million new A-share accounts were opened on the Shanghai Stock Exchange, a year-on-year increase of 165% [4][9] - The implementation of the "Shanghai Six Measures" has led to a significant increase in second-hand housing transactions in Shanghai [4][9] Corporate News - XGIMI Technology plans to issue H-shares for an IPO in Hong Kong [4][11] - NIO reported a narrowed adjusted loss in Q2, but its guidance for Q3 fell short of expectations [4][11] - Alibaba and Bosch are deepening their strategic partnership, focusing on AI-driven business innovation [4][11] - Tencent has launched an open-source intelligent agent framework, Youtu-Agent, aimed at various practical applications [4][11] Economic Indicators - The logistics industry in China maintained an expansionary trend in August, with a logistics prosperity index of 50.9% [9] - The wholesale sales of new energy passenger vehicles in China reached 1.3 million units in August, a year-on-year increase of 24% [9] - The total value of residential property transactions in Hong Kong rose by 48% year-on-year in August [10]