[Wall Street Journal Survey: Singapore's Non-Oil Exports May Accelerate by 26.5% in July] 1. According to the median forecast of a Wall Street Journal survey of five economists, Singapore's non-oil domestic exports are likely to grow by 26.50% year-on-year in July, accelerating from 20.7% in June. 2. DBS Bank economists noted in a report that exports of electronic products such as memory chips and servers will continue to be the main engine of growth, driven by continued demand related to artificial intelligence. Non-electronic product exports may rebound due to a favorable base effect, but petrochemical product shipments are expected to remain weak due to ongoing disruptions in the Strait of Hormuz. 3. Relevant trade data will be officially released next Monday.

[Intervention Concerns Continue to Escalate, Foreign Investors Net Sell Japanese Stocks for Second Consecutive Week] 1. Data from Japan's Ministry of Finance shows that in the week ending August 8, foreign investors net sold 368.5 billion yen (approximately US$2.31 billion) worth of Japanese stocks, marking the second consecutive week of net outflows. The previous week saw net selling of 392.5 billion yen. 2. The main reason for the continued reduction in foreign holdings is market expectations that Japanese authorities may take further measures to support the yen, thereby weakening investors' willingness to buy Japanese stocks. Previously, Japan's Ministry of Finance confirmed that it had coordinated with the United States to intervene and buy yen, stating that it would "not hesitate to take further measures." After the intervention, the yen rose to a near three-month high of 155.21 against the dollar, but subsequently gave back some of its gains to around 159.43. 3. While a stronger yen typically increases the dollar value of foreign holdings of Japanese stocks, it also weakens their purchasing power to buy new shares in dollars. However, the Nikkei index still rose 1.93% last week, boosted by gains in US technology stocks and artificial intelligence-related sectors. 4. Regarding Japanese long-term bonds, foreign capital saw a slight outflow of ¥58.7 billion last week, compared to a net inflow of ¥558.9 billion the previous week; short-term treasury bills, however, attracted a net inflow of ¥215.9 billion. 5. Meanwhile, Japanese investors increased their overseas asset allocation, with net purchases of ¥963.5 billion in foreign stocks during the week, marking the largest weekly purchase since April 4th; at the same time, they made net purchases of ¥1.63 trillion in foreign long-term bonds, the highest level since May 9th, and sold approximately ¥781.4 billion in short-term treasury bills.

According to foreign exchange traders, the Reserve Bank of India may have recently sold US dollars to alleviate the downward pressure on the rupee against the dollar.