According to a tech media report on Tuesday, the memory chip supply shortage is expected to persist until 2027, with industry sources revealing that the three major memory manufacturers have essentially completed capacity allocation negotiations for the coming year. In short, all projected memory supply for 2027 from Samsung, SK Hynix, and Micron has been fully sold out, with no new capacity expansion plans in place. The report states that the three suppliers have allocated all their DRAM and HBM capacity for 2027, and customers will ultimately receive only 60% to 70% of their initial requests. Industry insiders point out that the most severe phase of the memory shortage is expected to arrive in 2027. While allocation volumes are largely finalized, final shipping prices will be determined closer to the delivery date. According to TrendForce’s latest spot price trend report, the upward momentum in DRAM spot prices has weakened since late July, with prices for 4Gb DDR4 and 2Gb DDR3 rising slightly amid limited trading volume. This affects the memory chip segment of Hong Kong-listed stocks.
US stock markets saw mixed results among large-cap tech stocks overnight, with SpaceX experiencing a market cap loss of $225 billion. As of the close, the Dow Jones Industrial Average rose 263.24 points, or 0.49%, to 54,349.12 points. The S&P 500 fell 12.97 points, or 0.17%, to 7,723.55 points. The Nasdaq Composite dropped 221.55 points, or 0.83%, to 26,363.44 points. Large-cap tech stocks traded mixed, with SpaceX falling over 13%, wiping out $225 billion in market cap and being surpassed by Meta in total value. AMD dropped over 7%, Google fell more than 4%, while Nvidia rose over 3%, marking its fifth consecutive daily gain to a high since early June, pushing its market cap above $5.3 trillion. Oil and gas stocks broadly declined, with EOG Resources falling over 6%, and ConocoPhillips and Occidental Petroleum dropping over 2%. Mining stocks surged, with Agnico Eagle Mines rising nearly 10%, Gold Fields gaining over 9%, and Kinross Gold up nearly 9%. Solar stocks plunged, as SolarEdge fell over 30% and SunPower dropped more than 10%. Most Chinese concept stocks declined, with the Nasdaq China Golden Dragon Index falling 1.09%. The Hang Seng Index ADR fell, closing at 25,717.11 points, down 198.71 points or 0.77% from the Hong Kong close. WTI crude oil futures for the front-month contract fell $0.69 to close at $75.08 per barrel, a decline of 0.91%. COMEX gold futures for the front-month contract rose $155.40, or 3.74%, to close at $4,308.0 per ounce.
Key Market Developments
The Shanghai Stock Exchange announced on August 5 that, in accordance with the relevant provisions of the Shanghai-Hong Kong Stock Connect implementation rules, the list of eligible stocks for the Hong Kong stock connect under the Shanghai-Hong Kong Stock Connect has been adjusted. MINIMAX-W (00100), Luxshare Precision (02475), and Three Circle Group (06951) have been added, effective from the next Hong Kong stock connect trading day. BeiGene (06160) has raised its full-year 2026 revenue and other performance guidance ranges. The company announced that product revenue for the first half of 2026 reached RMB 21.797 billion, up 25.6% year-over-year, with total operating revenue of RMB 22.220 billion, up 26.8%. Net profit attributable to parent company shareholders was RMB 3.271 billion, a surge of 627.1% year-over-year. This growth was driven by sales of BRUKINSA (zanubrutinib), products licensed from Amgen, and TEVIMBRA (tislelizumab). Adjusted operating profit, excluding non-cash items like share-based compensation and depreciation, reached RMB 6.508 billion, up 101.9%, with adjusted net profit of RMB 5.863 billion, up 127.0%. Total assets stood at RMB 62.499 billion, up 9.1% from the start of the period, and equity attributable to parent company was RMB 35.427 billion, up 15.6%. Based on this strong performance, BeiGene has raised its full-year 2026 guidance, now expecting total revenue of RMB 44.9 billion to RMB 46.2 billion.
Akeso (09926) announced that its overseas partner, Summit Therapeutics, will initiate a Phase II/III global registrational study of ivonescimab combined with enfortumab vedotin versus pembrolizumab combined with EV for first-line treatment of locally advanced or metastatic urothelial carcinoma. The China portion of the HARMONi-GU1 study will be led by Akeso, while Summit will manage the study in the US, Europe, and other regions. Muyuan Foods (02714) reported that in July 2026, it sold approximately 6.66 million commercial pigs, a 4.82% increase year-over-year. The average selling price was RMB 10.64 per kilogram, down 25.59%, resulting in revenue of about RMB 8.897 billion, a 23.56% decline, primarily due to fluctuations in the pig market. Dacheng Fund announced that its fund, which tracks the CSI All-Share Securities Index, will invest in stocks of related parties, Everbright Securities (06178) and Zhongtai Securities, to minimize tracking error and protect investor interests, with regular management and reporting. Yuejiang (02432) officially launched its first embodied amphibious humanoid robot, the Yuejiang Deer Meng, standing nearly 1.3 meters tall. It features the company’s proprietary Airwing Embodied Big Model, enabling multimodal emotional perception, 3D spatial understanding, and autonomous learning, with a platform for secondary development and educational use. CSPC Pharmaceutical Group (01093) announced it has received a $10 million milestone payment from AstraZeneca under a strategic R&D collaboration agreement, following the signing of a joint venture contract to build a next-generation biologics production base in Shijiazhuang, China. CSPC will hold 51% and AstraZeneca 49% of the joint venture, which will initially focus on producing and supplying biologic drug substance for the global market. China Chunlai (01969) plans to acquire Dublin Business School for $127.5 million to expand its overseas higher education presence. The transaction has been notified to the Irish Department of Enterprise, Tourism and Employment under the Foreign Direct Investment Act, which confirmed on July 30, 2026, that no review is required. Rongchang Bio (09995) expects first-half 2026 net profit attributable to parent company of approximately RMB 4.7 billion, achieving a turnaround to profitability, with revenue estimated at about RMB 5.85 billion, a 433% increase year-over-year. Uni-President China (00220) reported first-half 2026 results, with revenue of RMB 17.321 billion, up 1.37%, and profit attributable to equity holders of RMB 1.402 billion, up 8.99%, with basic earnings per share of RMB 32.47 cents.
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