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1. The four major US cloud providers—Google, Microsoft, Amazon, and Meta—continue to significantly raise their AI capital expenditure forecasts. Combined capital expenditures are projected to exceed $860 billion in 2026, representing a year-on-year increase of approximately 80%; and are expected to further rise to approximately $1.2 trillion in 2027, a year-on-year increase of approximately 38%. 2. This expansion is not solely based on optimistic expectations, but is supported by over $2.3 trillion in long-term customer contracts and order backlogs, representing a quarterly increase of approximately 16%, significantly improving demand visibility. 3. AI sales at each company continue to maintain high growth rates of 80%-100%, and profit margins for both cloud and AI businesses are improving. The short-term cost is pressure on free cash flow. As capital expenditures rise to over 100%-115% of operating cash flow, the industry's free cash flow profit margin is expected to fall to approximately -1% in 2026, and further to -5% to -6% in 2027-2028. However, it is expected to recover thereafter as returns on AI investments materialize. 4. The five largest hyperscale manufacturers have raised approximately $270 billion this year, primarily through long-term debt and equity financing. This is largely to optimize balance sheets and maintain liquidity, and does not necessarily indicate a tight cash flow. 5. The main beneficiaries in the industry chain include computing chips, storage, semiconductor equipment, power semiconductors, and optical communications. (Source: Bank of America)

Japanese Finance Minister Satsuki Katayama declined to comment on whether foreign exchange intervention was carried out today.

Japanese Chief Cabinet Secretary Minoru Kihara: Japan and the United States maintain close communication on foreign exchange issues. If necessary, Japan will not hesitate to take further foreign exchange action.

The Hang Seng Tech Index extended its gains to 1%, with Alibaba (09988.HK) rising over 5% and Baidu (09888.HK) gaining over 3%.

The Hang Seng Index (HSI) opened 102.88 points higher, or 0.4%, at 25,987.31 on Monday, August 3rd; the Hang Seng Tech Index opened 32.7 points higher, or 0.68%, at 4,861.92 on Monday, August 3rd; the Hang Seng China Enterprises Index opened 46.97 points higher, or 0.55%, at 8,659.12 on Monday, August 3rd; and the Hang Seng Red Chip Index opened 3.68 points higher, or 0.09%, at 4,196.8 on Monday, August 3rd.

Hong Kong stocks opened higher, with the Hang Seng Index up 0.4% and the Hang Seng Tech Index up 0.68%. Alibaba (09988.HK) opened up 3.42% and Concord New Energy (00182.HK) opened up 14.08%, after announcing that it had signed a power purchase agreement with Tesla.

Australia's TD-MI inflation index rose 1% month-on-month in July, compared with a previous reading of -0.40%.

Australia's TD-MI inflation index rose 4% year-on-year in July, down from 3.90% previously.

NI225 fell by 2.00% within the day.

Japan's final manufacturing PMI for July was 54.5, below the expected 54.7 and the previous reading of 54.7.

Jun Mimura, Japan's top foreign exchange official: The limitations of the FIMA tool do not mean that overall foreign exchange intervention is constrained.

Jun Mimura, Japan's top foreign exchange official: The FIMA repurchase tool is just one of the intervention methods.

Jun Mimura, Japan's top foreign exchange official: The government will maintain close cooperation with the Bank of Japan.

Jun Mimura, Japan's top foreign exchange official, declined to comment on the remarks made by the Bank of Japan and US President Trump.

Jun Mimura, Japan's top foreign exchange official, stated that joint intervention could be the culmination of the US-Japan monetary alliance and that further joint intervention would not be hesitated.

Australia's S&P/ASX 200 index opened down 22.00 points, or 0.25%, at 8954.80 on Monday, August 3.

U.S. Defense Secretary Hergsays: (Regarding Iran) The fact is, the Department of Defense is ready—and always has been ready—at its best level since World War II. The guns are loaded, the bullets are in the magazines.

Japan's Ministry of Finance: We remain vigilant and maintain close contact with the U.S. Treasury Department.

Japan's Ministry of Finance stated that the intervention was aimed at addressing the recent excessive and disorderly fluctuations in the yen. It will not hesitate to conduct further foreign exchange intervention with the United States and plans to use the Federal Reserve's foreign and international monetary authority repurchase facilities in the future.

Japan's Ministry of Finance: A coordinated yen-buying intervention was conducted with the United States last Friday; the Ministry of Finance and the United States jointly purchased yen.