The final week of July 2026 brings a packed global financial calendar. Centered on the Chinese market and the global tech supply chain, five events form the core rhythm of this week (7-27 to 8-2).
Focal Point 1: NBS January-June Industrial Profit Data
On July 27, China's National Bureau of Statistics will release profit data for industrial enterprises above the designated size for January-June. The data is a key reading for judging the health of China's manufacturing sector and the position of its inventory cycle — the market will focus on year-over-year growth changes in memory, panels, and new energy vehicles.
Focal Point 2: CXMT IPO
China's DRAM leader CXMT (Changxin Memory Technologies) is expected to list on the STAR Market this week. As the only domestic memory manufacturer with scaled DDR5 and HBM R&D capabilities, CXMT's IPO pricing and debut performance will directly reshape the valuation anchor of China's memory supply chain. Samsung's Q2 warning-triggered global memory selloff makes the timing of CXMT's IPO even more dramatic.
Focal Point 3: Fed July Rate Decision
The Fed's July FOMC meeting will announce its decision this week. The market broadly expects the benchmark rate to remain unchanged, but the forward guidance language will be key. The dot plot path, characterization of inflation stickiness, and the latest assessment of the labor market will feed directly into global tech valuations.
Focal Point 4: Japanese and Korean Memory Giants' Earnings
Samsung and SK Hynix Q2 earnings are expected to be released in early August. Samsung has already issued a profit warning this week, and the market will watch whether SK Hynix offers equally cautious guidance. The two reports together will determine the pricing path for HBM and DDR5.
Focal Point 5: U.S. Tech Giants' Earnings Season
Microsoft (7-29), Meta, Apple, Amazon, and other U.S. tech giants will report earnings successively this week. AI capex pace, AWS/Azure growth, and the recovery in consumer electronics demand will be the core sector pricing variables.
Potential Impact of Overlapping Events
The five events are interconnected: the Fed rate decision affects tech valuations; CXMT's IPO and Japanese/Korean earnings affect memory pricing; industrial profit data reflects China's manufacturing fundamentals; U.S. tech earnings shape AI capex expectations. Any single event exceeding expectations could trigger sector-level chain reactions.
Source: Financial Morning Report (QQ News), NBS announcement, Fed FOMC schedule, Microsoft Investor Relations.
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