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Last updated: July 23, 2026, 11:30 PM ET

Tech and Markets React to AI Spending and Earnings

Recent tech earnings, with Tiger Brokers noting the business is expanding quickly. However, concerns over runaway artificial intelligence spending in market value from the Magnificent Seven on Thursday. Chinese stock turnover shrank to its lowest in over three months, as investors grew cautious on the nation's technology sector.

Commodities and Currency Movements

Oil prices, threatening economic stability and pushing Treasury yields to their highest levels of President Trump’s second term. This surge in oil prices contributed to the Philippine peso against the dollar, pressuring the central bank. Meanwhile, China's gold imports surged to a two-year high in June following a slump in international prices, indicating robust demand. The U.S. dollar index remains in a solid uptrend based on weekly charts, according to Stone X. Gold, in early Asian trade and renewed prospects of a Federal Reserve rate hike, according to XM.

International Finance and Regulatory Developments

India's SEBI to invest clients’ money in overseas securities and firms poised for IPOs. In a significant move, Manipal Health Enterprises Ltd. seeking raise in an initial public offering, continuing a trend of large share sales in India. Separately, HSBC to Allianz for $2.1 billion, marking the latest step in the lender's simplification strategy. Japanese authorities decisively as needed, a stance underscored by a US Treasury report. The yen is on track for its worst week since May, nearing 165 versus the dollar despite intervention warnings.

Corporate Leadership and Economic Support

Macquarie Group Ltd.'s first female CEO, Shemara Wikramanayake, is stepping down after leading the financial conglomerate to record profits and share prices. China's central bank to the economy in five months via its medium-term lending facility, aiming to bolster growth ahead of a key Politburo meeting.