Institutions: Pressure on the Federal Reserve to raise interest rates is growing, while inflation levels remain significantly above the target.

Yesterday, 230,862 new accounts were created on #Tron, up 42.87% and marking the highest daily total in the past month.

According to Reuters, Gulf sources revealed that Oman has put forward a proposal to Iran aimed at establishing a mechanism for the joint management of the Strait of Hormuz by regional countries, adopting a voluntary toll model to fund initiatives including navigation management, environmental protection, and search and rescue operations. Sources noted that under the proposal, Iran would not hold sole control over the Strait of Hormuz. The plan draws on the management model of the Strait of Malacca, allowing relevant parties using the strait to voluntarily contribute funds for maintaining channel safety and related services. To date, Oman’s proposal has secured regional backing.

According to Bitget market data, South Korea's KOSPI index closed down 732.12 points, or 10.84%, at 6023.63 points. It fell more than 11% intraday to below 6000 points and has shed nearly 30% this month. SK Hynix dropped over 14%, while Samsung Electronics fell more than 13%. Japan's Nikkei 225 index closed down 2566.27 points, a 3.95% decline, at 62364.92 points. Japanese chipmaker Kioxia plummeted more than 18%.

According to South Korea’s JoongAng Ilbo, South Korea’s financial regulatory authorities today decided that if overheating in single-stock leverage product investments fails to abate, additional regulatory measures including individual investment caps will be implemented. The authorities are currently focusing on studying a plan to limit individual stock leverage investments to within 20% of total financial investment holdings. Today, Financial Services Commission Chairman Lee Eog-yun stated at a forum that they will first closely monitor the policy effects of supplementary measures such as enhanced margin requirements that took effect on July 31. Lee added that if demand does not sufficiently cool, additional measures will be researched and prepared in advance. It is understood that the plan under study involves setting aggregate management rules, capping the share of individual stock leverage in total financial investment holdings at 20%. For instance, if an investor’s total financial investment holdings amount to 100 million won, they can allocate a maximum of 20 million won to single-stock leverage products.

China's A-share main indices fluctuated lower: the ChiNext Index plunged over 7%, the Shenzhen Component Index fell more than 4%, the Shanghai Composite Index dropped around 1.4%, and the STAR 50 Index slumped over 6%. Sectors leading the declines included computing power hardware, coal, precious metals, and semiconductor chips. Nearly 3,000 stocks declined across the Shanghai, Shenzhen and Beijing bourses. The semiconductor sector continued its weakness, with memory chips leading the losses. Key stocks in the sector saw sharp drops: Zhongji Innolight recorded a turnover of 38.004 billion yuan, down 13.38%; Accelink Technologies had a turnover of 25.354 billion yuan, down 14.46%; GigaDevice saw a turnover of 17.208 billion yuan and hit the 10% daily downside limit; Dongshan Precision had a turnover of 13.951 billion yuan, also hitting the 10% daily downside limit; TF Micro recorded a turnover of 12.923 billion yuan, down 9.99%; Cambricon had a turnover of 11.187 billion yuan, down 8.85%; Montage Technology posted a turnover of 10.207 billion yuan, down 8.13%; JCET had a turnover of 8.229 billion yuan, down 5.57%.

According to Bitget's market data, Nanfang's 2x long SK Hynix has fallen by over 30%, while Nanfang's 2x long Samsung Electronics has dropped by more than 27%.