Huawei Technologies is poised to re-enter the international smartphone market with a launch in Malaysia next week, potentially signaling a broader global comeback. The Pura 90 series marks the company's first 5G-equivalent device for overseas markets since U.S. sanctions disrupted its chip supply. Analyst Ivan Lam of Counterpoint Research suggests this move indicates Huawei has overcome significant technical hurdles, though its primary focus will remain on its domestic user base for the next two years.

In the AI space, Bernstein analysts view Tencent's recent Hy3 model launch as a positive development. While not a frontier model, Hy3 possesses the necessary capabilities for Tencent to develop agentic services across its ecosystem. This upgrade validates the company's recent AI team restructuring. Bernstein anticipates the next model iteration by late 2026 or early 2027, with monetization expected through merchant subscriptions for enhanced traffic.

Meanwhile, Goldman Sachs believes Steel Dynamics and SGH are likely no longer pursuing a takeover of Blue Scope Steel, citing recent earnings call comments and SGH's share buyback. Goldman Sachs reinstated Blue Scope with a buy rating and an A$37.70/share target, pointing to positive near-term steel price tailwinds, a strong balance sheet, and improving free cash flow, with the stock trading at a discount to global peers.