UBS cut its target price on MINISO to $14 from $19.84 and kept a Buy rating, according to ETNet. The bank said MINISO's revenue rose 17% year on year to RMB 5.81 billion, while adjusted net profit fell 10% to RMB 588 million in the second quarter, in line with the company's profit warning. Revenue from China, overseas and TOP TOY increased 23%, 9% and 17%, respectively. UBS said overseas growth slowed as distributor sales declined, driven by Asia-Pacific and Latin America markets. It added that the higher-margin distributor model contributed less revenue, causing second-quarter adjusted operating margin to fall 3 percentage points year on year. The bank said the stock is trading at 8 times and 7 times forecast 2026 and 2027 adjusted net profit, and believes this largely reflects continued pressure from overseas distributor channel restructuring. UBS said management expects further distributor store closures and margin pressure in the near term, but sees downside risks increasingly priced in. It also said domestic operations remain resilient and should continue to support earnings through store upgrades and productivity improvements. UBS added that management has slowed store expansion, which should ease operating expense pressure and support profitability. It expects overseas business to contribute more than 40% of group profit in 2025, falling to below 30% in its 2026 forecast.

JPMorgan said weak market sentiment and likely continued outflows from leveraged exchange-traded funds mean South Korean retail investors are unlikely to buy stocks in large size in the near term, according to ETNet. Analysts Rajiv Batra, Mixo Das and others said in a research note that corporate buybacks have become another new source of demand for South Korean domestic stocks, while buying from long-only funds has also started to recover. They added that emerging-market investors and global investors still have room to add exposure, but emerging-market investors are currently significantly underweight South Korea and are no longer constrained by investment mandate terms. The note said investors are currently overweight Chinese electric vehicle stocks, consumer stocks, Indian banks, and South Korean holding groups and banks.

According to Jin10, preliminary shipping data showed that four bulk carriers passed through the Strait of Hormuz on Tuesday, below the previous day's 10 and the roughly 13-a-day average over the past 10 days. Kpler's preliminary data released on Wednesday showed the four vessels included one very large crude carrier, one Panamax tanker, one Kamsarmax bulk carrier, and one medium-sized tanker. Of the four ships, one entered the Strait of Hormuz and three exited. Because some vessels typically switch off transponders while sailing, the data may still change. Meanwhile, 18 bulk carriers passed through the Bab el-Mandeb Strait on Tuesday, including seven inbound and 11 outbound, compared with an average of about 24 a day over the past 10 days. The vessels passing through the strait included two Aframax tankers and one Suezmax tanker.

According to Jin10, traders said the Reserve Bank of India sold dollars before the open to support the Indian rupee as oil prices surged.

According to Onchain Lens, a whale transferred 95 bitcoin to Galaxy Digital, with the holdings valued at about $7.32 million. According to Odaily, the transfer is suspected to be for an over-the-counter sale.

Anthropic has added a "context lock" to Claude's encrypted hidden reasoning. According to Odaily, encrypted reasoning generated by Claude 5.1 through the API must remain consistent with the system prompt, tools, and conversation history used at the time of generation, and the reasoning becomes invalid if the context is changed. The mechanism is mainly intended to prevent model distillation attacks. It further binds the reasoning to the specific conversation context, closing a path that could previously be used to extract the reasoning process by modifying the context.

Anthropic, AI Agent, LLM, Claude, Token, Fable 5.1 is here. Claiming to be the world's strongest, Anthropic is also getting involved in "cached price" issues. According to Jinse Finance, cached prices have dropped by 75%.

China Resources Land reported first-half 2026 core net profit of 10.16 billion yuan, up 1.6% year on year, even as total revenue fell 28.5% to 67.87 billion yuan and attributable net profit dropped 17.16% to 9.84 billion yuan, according to Jiemian News. The company said recurring businesses, including shopping malls, office buildings, hotels and property management, generated 22.61 billion yuan in revenue, up 9.9%, and 6.65 billion yuan in core net profit, up 10.4%, lifting their share of core profit to 65.5%. Development sales remained under pressure, with revenue down 39.1% to 45.26 billion yuan and settled area down 38.3% to 1.98 million square meters. Contracted sales, however, rose 5.6% to 116.5 billion yuan, while contracted area fell 23.2% to 3.16 million square meters. The company said its gross margin for residential development was 10%, compared with 73.3% for operating property leasing, and overall gross margin improved 1.4 percentage points to 25.4%. Chairman Li Xin said the company had completed an upgrade from a first growth curve centered on residential development to a second growth curve focused on urban investment, development and operations. As of June 30, China Resources Land had 271.18 billion yuan in borrowings, 98.91 billion yuan in cash and a net gearing ratio of 41%. Its weighted average financing cost fell 9 basis points from the end of 2025 to 2.63%. The company added 16 projects in the first half, with 32.49 billion yuan in attributable investment, and 99% of that investment was in first- and second-tier cities. It also said total land reserves reached 39.23 million square meters. The results came after China's Ministry of Housing and Urban-Rural Development, China's Ministry of Natural Resources and China's National Financial Regulatory Administration issued a notice on August 28 to improve the commercial housing sales system, alongside supporting credit and capital market measures. China Resources Land President Xu Rong said the policy could help stabilize new-home supply and prices, protect buyers' rights and push the industry toward quality-led competition.

Morgan Stanley kept its Overweight rating on China Resources Mixc Lifestyle (01209) and nudged its target price up from HK$48.02 to HK$48.06, according to ETNet. The broker cut its 2026-28 earnings per share forecasts by 0.5%, 1.2% and 2.5%, citing a solid first-half 2026 performance, slower retail sales growth amid a nationwide consumption headwind despite resilient commercial management business, and a lower selling and administrative expense ratio driven by ongoing cost-efficiency measures. It said the revised target price is based on a 4.7% 2026 forecast dividend yield and a 100% payout ratio, implying a 20 times 2027 forecast price-to-earnings ratio.

According to Jin10, New Zealand's RBNZ Chair Breman said the official cash rate (OCR) may be raised further and that the impact of previous rate hikes will be assessed.

According to Jin10, market sources said Honda plans to cut the cost of some key components, including software-defined vehicles, by 30%.

Astra is the first OpenAI model formally classified as Critical under the company's Preparedness Framework — the highest cybersecurity capability designation

Singapore is reconsidering a key pillar of its stablecoin policy, opening the door for certain foreign-issued and jointly issued tokens to potentially qualify under its regulatory framework.

BTC has climbed back above and moved away from the 200-day moving average. The market is generally underweight and short positions are concentrated, which is characteristic of the early stages of a bull market. The current situation is more like the late stages of a bear market. A true bull market will require clear signals from dollar liquidity, fiscal policy, and the US Treasury market.

Systemic Risks and a Four-Layer Defense System for Artificial Intelligence, AI Agents, and AI Programming (Jinse Finance), Taming the Illusions in AI Programming: From Engineering Governance to System Determinism.

Perpetual Contracts, DeFi, Options, Perp DEX, Cryptocurrency, Crypto Options: Is Now the Window of Opportunity? Jinse Finance: What are the real changes right now? Is this truly a turning point for crypto options?

Prediction markets are no longer the domain of just two companies; crypto exchanges and on-chain protocols are all vying for a piece of the action.

By voluntarily giving up the freedom to sell cryptocurrency, they gained the freedom not to be forced to sell it.

US households have historically high equity allocations, and stock valuations have already priced in extremely high growth expectations. After the bear market clears out, crypto assets are expected to offer differentiated investment opportunities, and the current market presents a good entry window.

According to sources close to the Federal Reserve, the energy crisis, initially seen as a short-term shock, continues unabated, making the Fed's September meeting increasingly challenging. The 10-year Treasury yield has surged to its highest level since Trump's presidency: an endless war is pushing the Fed into a corner.