[UK House Prices Drop Significantly in July, Multiple Factors Suppress Demand] (1) In the four weeks to July 11, asking prices for new homes in the UK fell by 1.0% compared to the previous month, a drop far greater than the average for the same period over the past 10 years (0.2%). (2) The decline was mainly due to multiple factors, including the Men's World Cup, record-breaking high temperatures distracting buyers, and high home purchase costs suppressing demand. (3) Other key data: Asking prices fell by 0.4% year-on-year (compared to 0.5% in the previous month); the average interest rate for two-year fixed mortgages fell to 4.92% (compared to 5.07% in June), but was still higher than 4.25% in February; house sales agreements in the first half of 2026 decreased by 6% year-on-year, but were roughly the same as in the first half of 2024; the number of homes for sale decreased slightly by 1% year-on-year, but remained close to the high level of the same period over the past 12 years.

Spot gold has just broken through the $3,990.00/ounce mark, and is currently trading at $3,989.81/ounce, down 0.70% on the day; COMEX gold futures are currently trading at $3,993.50/ounce, down 0.63% on the day.

[US Missile Strike on Iranian Oil Hub: Three Countries Claim Further Iranian Attacks] On March 19, following another round of airstrikes against Iran, the US military attacked Abadan, a major Iranian oil city. On the same day, the Iranian military announced that it had successfully shot down a US MQ-9 drone and intercepted a US cruise missile in western Iran. Jordan, Kuwait, and Bahrain also claimed to have been attacked by Iran on the same day. (CCTV News)

According to Iran's Mehr News Agency, Iran has activated its air defense system in Konarak.

Iranian semi-official Tasnim stated that several explosions were heard in the southwestern Iranian ports of Mahshahr and Imam Khomeini.

[Public Funds' Q2 Reports Debate on AI: Valuation Bubble or Continued Industry Prosperity] (1) With the release of public funds' Q2 2026 reports, whether there is a bubble in the artificial intelligence (AI) sector has become one of the most discussed topics among fund managers. (2) Looking back at the first half of the year, the global economy and capital markets showed extreme K-shaped divergence. Reflected on AI investment, fund managers' views were also clearly opposed: one side believed that the valuation of some AI assets had overdrawn the future, and the characteristics of local bubbles were becoming more and more obvious; the other side believed that this round of AI market was supported by real industrial demand and orders, which was fundamentally different from the historical technology bubble, and the industry prosperity was expected to continue. (3) Under the divergence, the actual portfolio adjustments of fund managers also showed significant differences: some chose to realize profits and reduce positions, while others continued to increase their investment in core tracks such as computing power and chips, and the investment game around the AI industry chain further heated up.