Global Spotlight Next Week! US & Japan Central Bank Rate Decisions + MAG7 & Memory Giants Earnings + Key Domestic Meetings + CXMT Listing

Overview of Major Financial Events for the Week of July 26 - August 3 in "Wallstreetcn Calendar", all times in Beijing Time:

Wallstreetcn Financial Calendar reminds investors that next week brings a "Super Week" to global capital markets, with a dense convergence of central bank decisions, economic data, corporate earnings, and geopolitical developments.

Triple Central Bank Decisions. On July 30, the Federal Reserve will announce its interest rate decision. The market expects no change, with Chair Warsh signaling whether rate hikes might resume in September. On July 31, the Bank of Japan follows suit; Bloomberg expects it to hold rates steady at 1.0% but emphasize vigilance against inflation overshoot, potentially hiking another 25 basis points in December. The Bank of England will also announce its decision on July 30, expected to maintain rates at 3.75%.

US-China Macro Data and Key Domestic Meetings Set the Tone. The July Politburo meeting is typically held in the latter part of the month. Tianfeng Securities expects it to set a tone of "more proactive fiscal policy and moderately loose monetary policy," focusing on "self-reliance" to cope with subsequent tariff and geopolitical uncertainties. US PCE data will test inflation trends. On July 30, the US June PCE price index will be released, with rising oil prices breaking $100 due to Middle East tensions posing upside risks. Additionally, China's July PMI will test the strength of the economy.

Tech Earnings "Super Bowl", CXMT and Zhongji Innolight Listings. On July 29, Microsoft, Meta, and SK Hynix will report first; on July 30, Apple, Amazon, and Samsung Electronics will follow; and on July 31, Kioxia will conclude the series. Four MAG7 giants and the three major US-Japan-Korea memory chip leaders will present results simultaneously. The market will examine AI cloud growth momentum, HBM shipment dynamics, and turning points in general memory pricing. The listing of CXMT on the STAR Market and Zhongji Innolight in Hong Kong will also inject new vitality into the tech supply chain.

Tariffs and Middle East Tensions Continue to Escalate. US tariffs of 10%-12.5% on dozens of countries and regions are about to take effect; Houthi attacks on Saudi oil tankers and threats to block the Bab el-Mandeb Strait persist. Trump is reportedly "close" to deciding on a "massive attack" on Iran, keeping oil prices above $100 per barrel and sharply increasing global supply chain risks.

Economic Indicators

• Federal Reserve Interest Rate Decision

In the early hours of July 30, the Federal Reserve will announce its interest rate decision. The market expects no change, followed by a press conference by Chair Warsh. With current inflation pressures and tariff uncertainties coexisting, the market will focus on Warsh's comments on the future interest rate path to judge whether rate hikes might resume in September.

• Bank of Japan Interest Rate Decision

The Bank of Japan will announce its interest rate decision on July 31. The market expects the BOJ to keep rates unchanged at 1.0%, following a 25 basis point hike in June. After the June hike, the central bank may emphasize vigilance against inflation overshoot, as Middle East tensions push up oil prices and the yen remains weak.

• Bank of England Policy Rate

The Bank of England will announce its interest rate decision on July 30. The market expects it to hold rates steady at 3.75%. Investors will focus on Governor Bailey's comments on the pace of future rate cuts and the impact of rising energy prices due to Middle East tensions on the UK's inflation outlook.

• China PMI

China's official manufacturing PMI will be released on July 31. On July 27, China's June industrial profits data for enterprises above designated size will also be released. Previously, the June manufacturing PMI rose to 50.3, returning to expansion territory, while the non-manufacturing business activity index continued to expand.

• Fed's "Preferred Inflation Indicator"

On July 30, the US will release the June PCE price index, the Federal Reserve's "preferred inflation indicator." Tensions in the Middle East have pushed oil prices back above $100, potentially posing upside risks to inflation data. Market bets on the probability of Fed rate hikes are rising.

• South Korea July Exports and Tokyo CPI

South Korea's July import and export data will be released on August 1, with particular attention on chip export performance. Data shows that South Korea's chip exports surged 199.4% year-on-year in June, driven mainly by AI-related demand. Whether July data can sustain this strong momentum will be an important barometer of global semiconductor demand.

Tokyo's July CPI will be released on the morning of July 31. This data is seen as a bellwether for national inflation in Japan and is expected to reinforce the Bank of Japan's view that inflation is moving toward 2%. Subsequently, the Bank of Japan will announce its interest rate decision.

Earnings and IPO Dynamics

• CXMT Lists on STAR Market on July 27

CXMT announced that it will list on the STAR Market (688825) on July 27, 2026, becoming the largest IPO on the board. There will be no price fluctuation limits for the first five trading days after listing. Given the inherent strong cyclical nature of the memory chip industry, there is significant uncertainty in stock price volatility. The announcement also reminded investors to participate rationally.

• Zhongji Innolight Lists in Hong Kong on July 30

Zhongji Innolight applied to issue 54.5 million shares via Hong Kong IPO. The top end of the indicative price range is HK$1,010 per share, raising no more than HK$55 billion. Trading is expected to begin on July 30.

• Earnings from Corning, Microsoft, Meta, SK Hynix, Apple, Amazon, Samsung Electronics, Kioxia, etc.

Next week marks the peak of the dense earnings season: Microsoft, Meta, and SK Hynix release earnings on July 29; Apple, Amazon, and Samsung Electronics follow on July 30; Kioxia reports results on July 31. Key companies in the semiconductor and AI supply chains, including Qualcomm, Seagate Technology, Western Digital, Corning, Bloom Energy, Amphenol, and Rambus, will also release earnings.

Memory chip giants from the US, Japan, and Korea (SK Hynix, Samsung Electronics, Kioxia, Western Digital, Seagate Technology) will report consecutively. The market focuses on shipments of high-end AI memory like HBM and pricing trends for general memory.

The earnings of the four MAG7 tech giants—Microsoft, Apple, Amazon, and Meta—will test the effectiveness of AI commercialization, with cloud service growth, AI feature implementation, and advertising recovery being core highlights.

Additionally, Corning and Amphenol, as important links in the AI infrastructure hardware supply chain, and Bloom Energy, as a clean energy supplier for AI data centers, will reflect the vigor of data center capital expenditures through their order situations.

• Overview of Earnings Call Times

Amazon Q2 earnings call: July 30 at 2:00 PM PT. Beijing time: July 31 at 5:00 AM.

Seagate Technology FY2026 Q4 and full-year earnings call: July 28 at 2:00 PM PT. Beijing time: July 29 at 5:00 AM.

Corning Q2 earnings call: July 28 at 8:30 AM ET. Beijing time: 8:30 PM.

Meta Q2 earnings call: July 29 at 1:30 PM PT. Beijing time: July 30 at 4:30 AM.

Apple Q3 earnings call: July 30 (Thursday) at 2:00 PM PT. Beijing time: July 31 (Friday) at 5:00 AM.

Microsoft FY2026 Q4 earnings call: July 29 at 2:30 PM PT. Beijing time: July 30 at 5:30 AM.

Samsung Electronics Q2 earnings call: July 30 at 10:00 AM KST. Beijing time: 9:00 AM.

SK Hynix Q2 earnings will be released at 8:00 AM Beijing time on July 29, followed by a conference call.

Kioxia FY2026 Q1 financial results will be released at 3:30 PM JST on July 31.

Financial Events

• Politburo Meeting Typically Held in Late July

The July Politburo meeting is generally held in late July. Tianfeng Securities expects the meeting to set a tone for implementing more proactive fiscal policy and moderately loose monetary policy, further strengthening monetary-fiscal coordination, focusing on "self-reliance" to cope with the potential impacts of subsequent "Trump uncertainties" and escalating overseas geopolitical risks, striving to start the "15th Five-Year Plan" well.

• South Korea Raises Cash Deposit Requirement for Leveraged ETF Trades to 30 Million Won Starting July 31

The South Korean Financial Services Commission stated on July 24 that South Korea will advance the implementation of stricter deposit requirements for retail investors trading single-stock leveraged ETFs to July 31, earlier than the originally scheduled August date. The deposit requirement is 30 million won in cash. The cash deposit requirement has been raised from 10 million won to 30 million won; stocks, ETFs, and bonds will no longer count towards the minimum deposit. The new rule applies to the purchase of domestic and overseas-listed single-stock leveraged ETFs in Korea. Companies failing to complete system upgrades by July 31 will be advised to restrict new transactions for these products.

• OPEC+ Meeting

At the July meeting, OPEC+ agreed to increase oil production quotas by another 188,000 barrels per day in August and decided to hold the next meeting on August 2, 2026.

• Microsoft: Xbox Price Increase Effective August 1

Microsoft: Updating Xbox prices globally, effective August 1. The 512 GB Xbox console will increase by $100, and the 1 TB console will increase by $150.

• Sinocera Material: Raises Zirconia Powder Sales Prices by 10%-40%

Sinocera Material announced that the company decided to raise sales prices of zirconia powder by approximately 10%-40% starting July 27, 2026. This price adjustment is due to the continuous rise in raw and auxiliary material prices.

• Acon Electronics Raises Prices for All Products Starting August 1

AC-DC power supply supplier Acon Electronics' price increase notice states that new prices for all products will apply to orders starting August 1, 2026.

• MIIT Lithium Battery and Similar Products Standard Working Group: Holds Discussion on 10 Solid-State Lithium Battery Industry Standards

Securities Times learned from the MIIT Lithium Battery and Similar Products Standard Working Group that, according to relevant document requirements, the China Electronics Standardization Institute manages and organizes the drafting of solid electrolyte series industry standards. The secretariat of the working group has established a standard project team and completed the compilation of the draft for comments. After research, it was decided to hold a discussion meeting on the draft for comments of 10 solid-state lithium battery industry standards from July 27 to July 28, 2026.

• ChinaJoy to be Held from July 31 to August 3

ChinaJoy will be held from July 31 to August 3, the world's largest digital entertainment exhibition, featuring games, metaverse, VR/AR, esports, and AI interactive devices. Additionally, the 2nd China International Game Developers Conference will be held from July 28 to 30, where the four-country editions of the "China Game Overseas Guide" (US, Germany, Saudi Arabia, Indonesia) will be released.

• CME Plans to Launch 24/7 Gold Contracts

The Chicago Mercantile Exchange (CME) plans to launch 24/7 trading for WTI crude oil and gold contracts. 24/7 trading for 1-ounce gold futures contracts will officially start on July 26.