Alibaba’s massive share offering drags down Hong Kong’s stock market; Michael Burry says he will not consider buying again unless the share price is cut in half.

According to Bitget market data, Hong Kong-listed large language model concept stocks have continued to slump. Zhipu fell over 11% intraday, while MINIMAX dropped more than 10%.

C Yushu-W opened lower and trended downward today. By the close of trading, it was priced at 603.08 yuan, down over 10%, with a total market capitalization of 243.9 billion yuan. Calculated based on the previous trading day's closing price, Yushu Technology's market cap evaporated by more than 20 billion yuan intraday, and by over 200 billion yuan compared to its opening on the first day of listing.

Well-known cryptocurrency trader Lu Yao stated in a recent post that the current crypto market remains in a major bear cycle, but may have entered the first half of the late bear phase—a stage dubbed the "monkey market," marked by sharp, erratic price swings. The ongoing rally is expected to continue, with Bitcoin potentially testing $90,000 to $100,000. However, based on its duration and prior declines, the bear cycle has not yet concluded, and the market may still face significant volatility ahead. Crypto investors should avoid being fully invested or holding no positions at this stage; instead, they should trade with a moderate position size, selling on sharp rises and buying on deep dips, adopting a flexible strategy that steers clear of both extreme bullishness and bearishness. The market remains in a "super high volatility" phase, with 99.9% of altcoins still not worth purchasing. Investors should control their positions and exercise caution.

Caixin reported that China's National Development and Reform Commission (NDRC) has released the *Revised Draft Measures for the Administration of Overseas Investment* for public consultation, with the consultation period running from August 21 to September 20, 2026. The draft expands the scope of investors beyond enterprises to cover domestic enterprises, other organizations, and individual residents, and clarifies that reinvestment by investors overseas is also classified as outbound investment. For outbound investment regulation, investors shall obtain an outbound investment approval document or filing notice before implementing the investment, covering matters such as outbound investment classification, regulatory division of labor, and the procedures and time limits for approval and filing. For the newly added individual resident investors, the approval authority is the NDRC, while the filing authority is the provincial-level development and reform department of the individual's household registration place or habitual residence.

Iran's Persian Gulf Strait Administration stated that vessels violating Iran's Strait of Hormuz passage regulations may face fines, detention, or seizure.

According to Lookonchain monitoring, in the past 30 minutes, Binance’s institutional custody platform Ceffu deposited 136.54 million USDC into Binance, then withdrew 1,524 BTC (worth approximately $117.89 million) and 59,484 ETH (worth approximately $145.92 million) from Binance.