Apple Retakes Global Market Cap Crown, Surpassing Nvidia Once More
Apple’s stock ticked up while Nvidia’s dipped, and just like that, Apple is back on top as the world’s most valuable company. As of 9:50 PM on July 27, Apple shares were up 0.96%, trading at $336.22 a pop, giving it a total market cap of $4.94 trillion. Meanwhile, Nvidia dropped 2.64% to $201.38 per share, bringing its market cap to $4.87 trillion.
ChangXin Technology’s Blockbuster Debut: Mutual Funds See $68.5B in Paper Gains, Private Equity Bags $9B
On July 27, ChangXin Technology closed its first trading day at 49 yuan per share. According to reports from financial media, a total of 93 mutual fund companies, with 5,419 subscription accounts, snagged 1.234 billion shares, netting a paper profit of about 497.9 billion yuan (roughly $68.5 billion). Among the winners, E Fund, Southern Fund, and ICBC Credit Suisse raked in around 68.03 billion yuan, 55.98 billion yuan, and 47.12 billion yuan, respectively. On the private side, 113 firms with 2,460 accounts grabbed 161 million shares, pocketing a paper gain of about 65.09 billion yuan (around $9 billion). Notably, Jiukun made about 6.21 billion yuan, while High-Flyer and Shanghai Yanfu each bagged around 6.19 billion yuan, and Hainan Century Frontier earned roughly 6.05 billion yuan. Keep in mind, these paper profits are based on all allotted shares, and 70% of them are locked up for six months.
Alibaba’s $7.6 Billion Bet on ChangXin Pays Off, Now Worth Nearly $170 Billion
July 27 marked a historic day for China’s A-share market as N ChangXin made its debut on the STAR Market. The stock opened at 49.50 yuan, hit a high of 55.03 yuan, and dipped to a low of 38.11 yuan before closing at 49 yuan—a jaw-dropping 465.82% gain. With a turnover rate of 66.4%, it saw a staggering 1411.87 billion yuan in single-day trading volume, making it the first stock in A-share history to surpass the 100 billion yuan mark. And who’s walking away with a massive grin? Alibaba. According to ChangXin’s STAR Market prospectus, Alibaba Group, through two entities, holds nearly 5% of the company, having poured in about 7.6 billion yuan (around $1.04 billion). Based on the closing market cap on debut day, Alibaba’s stake is now worth over 170 billion yuan (roughly $23.4 billion), meaning a paper profit of more than 160 billion yuan—a return of over 20 times its initial investment.
WeChat Video Launches Full-Scale Crackdown on Livestreaming Violations
On July 27, WeChat Video announced a major crackdown on “illegal group livestreaming” behaviors. Following the “Qinglang·Online Entertainment Group Livestream Chaos Cleanup” directive from China’s Cyberspace Administration, the platform is stepping up efforts to clean up the digital space and protect both creators and users. For hosts and livestreams caught breaking the rules, penalties will be handed out based on the severity of the offense. These include warnings, reduced recommendations (throttling), stream interruptions, and restrictions on broadcasting privileges. Repeat offenders or those involved in extreme cases could face a permanent ban.
Nearly 300 Companies Dive In, Buying Back Over $13 Billion in Hong Kong Stocks; Tencent and Xiaomi Lead the Charge
Since 2026, despite the Hong Kong stock market’s major indices wobbling downward, nearly 300 listed companies—led by Tencent Holdings, AIA Group, and Xiaomi Corporation—have been aggressively buying back their own shares, signaling strong confidence in their value. Data from Wind shows that as of July 27, Hong Kong-listed companies have repurchased a total of 7.518 billion shares this year, worth a combined 1006.67 billion Hong Kong dollars (over $13 billion). That’s a more than 50% jump in the number of shares bought back compared to the same period last year.
Samsung Confirms HBM5 Will Use 2nm GAA Process; Speeds to Surpass HBM4E by Over 50%
On July 27, Samsung Electronics released an interview with Koo Ja-hyun, head of its Semiconductor Business Technology Development Office. Koo revealed that the next-generation HBM5 memory is expected to run more than 50% faster than the HBM4E. “The base die for HBM5 will be built on a 2nm process using GAA (Gate-All-Around) architecture, and we’ll achieve higher-density TSV (Through Silicon Via) integration,” he said.
Koo added that Samsung plans to leverage the experience and technical know-how gained from their 4nm HBM4 base die to bring the 2nm process to HBM5 ahead of schedule. They also aim to expand collaborations with clients in mobile, HBM, AI, HPC, automotive electronics, and robotics, driving the semiconductor ecosystem forward.
Douyin Upgrades Its Age-Appropriate Recommendation Algorithm
On July 27, Douyin Group announced a major upgrade to the core engine of its “minor mode”—the age-appropriate recommendation algorithm. The goal? Ease parents’ worries and better meet the needs of young users. Once a user enables minor mode and sets their birth date, a tailored recommendation algorithm kicks in. Currently, Douyin’s exclusive content pool for minors adds about 6,000 quality pieces daily, with a total inventory of 7.7 million items. This system not only pushes content suitable for a child’s age but also filters out anything beyond their cognitive level or inappropriate for them to watch.
Apple Resolves Six Service Outages, Including App Store
As of July 27, Apple’s system status page shows that all affected services, including the App Store, have been fully restored.
Other services that are back up and running include Apple Music, Apple TV, Apple Music subscription services, Apple Care, and Apple School Manager.
IFlytek Plans to Buy Back Shares Worth Up to $27.6 Million
On July 27, IFlytek (002230.SZ) announced that it intends to repurchase its own A-shares through a centralized bidding process, using either its own funds or self-raised capital. The total buyback amount will not exceed 200 million yuan (about $27.6 million) and will be no less than 100 million yuan (around $13.8 million), with a maximum purchase price of 62.13 yuan per share. The shares bought back will be used entirely for equity incentives or employee stock ownership plans, with the repurchase period set for 12 months from the date of board approval.
