News

According to the Financial Times: U.S. small-cap stocks surged as investors looked beyond large technology stocks.

Baidu (09888.HK)'s decline widened to 10%.

Japan's 5-year government bond yield fell 3.5 basis points to 1.960%.

Last week, a New York Times reporter received a subpoena citing "alleged violations of federal criminal law" just two days after publishing a story that contradicted Trump's claims about a new Air Force One gifted from Qatar. Journalists involved strongly suspect that the subpoenas were hastily issued by Trump out of anger over news coverage. Joe Kahn, executive editor of The New York Times, said in a memo to staff that the subpoenas were "impulsive" and condemned the "blatant intimidation of individual journalists" to prevent reporting. Kahn said the law protects newsgatherers from such retaliatory abuses of prosecutorial power, The courts must reaffirm this protection and stop this overreach. We are confident they will do so in this case. Although "abuse" of legal powers by journalists has always been highly controversial, officials in previous administrations have sometimes argued that it is a last resort after other avenues of investigation have been exhausted. This time, sending the subpoena seems more like the first action taken. FBI Director Kash Patel was summoned to the White House for a meeting on the leak investigation on Friday, shortly before the subpoena was served to a New York Times reporter. Renowned First Amendment lawyer Floyd Abrams said, He couldn't think of any precedent where the president himself could intervene in such a matter so directly. It is even more unimaginable that there is any situation where there is such sufficient evidence that the president personally made the decision to force the media to hand over their sources. “And most importantly,” Abrams continued, “I can’t think of any topic where the public wants to know the truth so urgently and where that desire to know is so completely legitimate.”

Michael Burry, the prototype of the movie "The Big Short," recently released a detailed analysis report on Fannie Mae and Freddie Mac, pointing out that U.S. President Trump's decisions may trigger the next housing crisis. Both companies are government-backed and guarantee the vast majority of U.S. mortgages. The key to the entire investment deal lies in a decision that the U.S. Treasury Department has yet to make. If the government forgives the $193 billion in debt that the two companies still nominally owe, the company's stock price may immediately increase by 3 to 4 times, and in the long term, the increase may even reach 6 to 7 times. But if the debt is not forgiven, Shares of both companies are set to fall into the low single digits. Burry also dug into the filings of the two companies with the U.S. Securities and Exchange Commission (SEC) and found that: Fannie Mae’s bad loan write-offs surged from $61 million to $243 million in one year; its largest mortgage partner was forced to buy back $221.6 million worth of fraudulent loans.

President Trump: The reflecting pool will be repaired soon and will be better than before. Sixty monuments and fountains in Washington, D.C., have been cleaned and fully renovated, and the crime rate has dropped to an all-time low! Washington has never looked better, and security has never been better.

President Trump: ABC “fake news” and its unreliable anchor David Muir claimed the reflecting pool was being drained to deal with “flaking paint” and “algae blooms.” This report is "fake news" and seriously distorts the facts, deliberately avoiding the real cause of the problem - deliberate sabotage.

Japan Exchange Group CEO: Personally, I think the yen exchange rate is far below a reasonable level.

General Administration of Customs: China imported 29.272 million tons of crude oil in June, compared with 33.081 million tons in May.

General Administration of Customs: China imported 247.61 million tons of crude oil from January to June.

U.S. Central Command: The U.S. military completed a new round of strikes against Iranian military targets.

Reuters: The Trump administration is blocking U.S. citizens in the Democratic Republic of Congo from taking commercial flights to the United States due to the risk of an Ebola outbreak, White House officials said.

NI225 fell 0.76% to 66,728.38 points.

Japan's 2-year government bond yield fell 1.0 basis points to 1.435%. Japan's 20-year government bond yield fell 4 basis points to 3.705%.

President Trump: Today we emptied our beautiful Reflecting Pool to repair the scars and damage caused by vandals two weeks ago.

The Hang Seng Technology Index's decline expanded to 1%; Baidu (09888.HK) fell at the beginning of the session and now its decline has expanded to 5%.

Japan's 5-year government bond yield fell 1.5 basis points to 1.980%. Japan's 30-year government bond yield fell 3.0 basis points to 3.875%.

Australia's NAB business climate index in June was 3, compared with the previous value of 3.

Australia's NAB business confidence index in June was -5, compared with -14 in the previous month.

HSI opened down 32.2 points, or 0.13%, to 24181.52 points on July 14 (Tuesday);Hong Kong’s Hang Seng Technology Index opened down 11.82 points, or 0.25%, to 4664.61 points on July 14 (Tuesday); The state-owned enterprise index opened down 0.81 points, or 0.01%, at 8065.16 points on July 14 (Tuesday);The red chip index opened at 3886.36 points, up 3.32 points, or 0.09%, on July 14 (Tuesday).