Overnight Market Commentary 0728: China's Two Breakthrough Lines, Overseas' Two-Tier Pricing

English summary

Market overview: Geopolitical pressure eased, hardware slumped. Geopolitical easing translated into 'soft oil, bond bull.' Trump confirmed a pause on strikes to give negotiations a chance, warning 'time is short, either quick progress or total failure.' Brent plunged 8.70% to $88.36, WTI fell 7.50% to $82.61, a second straight day of sharp declines; U.S. Treasury yields also fell ahead of the FOMC meeting. Equities: Dow +0.51%, S&P nearly flat, SOX -2.23%, Nasdaq 100 -0.32%, Nvidia -4.99%, the biggest daily drop since June 5. The selloff concentrated in semiconductor equipment and memory. Memory: SanDisk -11%, SK Hynix ADR -7.47% to $143.02, below IPO price; Equipment: ASML Europe -7%+, worst day since June 8, BE Semiconductor -8.5%, Soitec -5%, Infineon -3%. ...