China’s ChiNext Index fell 2.65% as of the close on July 24, 2026, while Huaxia ChiNext ETF (159957) lost 2.46% with turnover of 10.91% and trading volume of 286 million yuan. The ChiNext Momentum Growth Index slipped 2.18%, and Huaxia ChiNext Growth ETF (159967) fell 2.09% with turnover of 18.08% and trading volume of 1.078 billion yuan, according to Jiemian News. Jiemian News reported that Alphabet said second-quarter 2026 capital expenditure reached $44.9 billion, double a year earlier, and raised full-year guidance to $195 billion to $205 billion, mainly for AI infrastructure expansion. Guangda Securities said Google Cloud revenue rose 82% year on year and backlog reached $514 billion, underscoring strong demand for computing power. It added that servers, AI chips, optical modules, power supplies and liquid cooling are likely to benefit first from earlier equipment delivery. Separately, Shenwan Hongyuan Research said China’s “fixed income plus” fund size approached 3 trillion yuan in the second quarter of 2026, led by hybrid bond funds, which added more than 300 billion yuan in the quarter. It said technology accounted for 45% of top holdings in such funds, with electronics the main area of accumulation, while cyclical sectors were cut by 9% to 14%. New fixed income plus fund launches in June reached 33.2 billion yuan, the highest in nearly two years.
