In a significant diplomatic exchange, U.S. Commerce Secretary Gina Raimondo discussed a range of pressing issues with Chinese Commerce Minister Wang Wentao. This included concerns about American companies like Intel and Micron, as well as discussions about China's recent export restrictions on gallium and germanium. Their extensive two-hour meeting and subsequent two-hour lunch highlighted the depth of these discussions. Learn more about the implications of these talks and their potential impact on U.S.-China relations in this video.

Oil prices held steady as fears of U.S. interest rate hikes were counteracted by potential supply disruption from a tropical storm. Brent crude settled around $84.42 a barrel, while U.S. West Texas Intermediate crude rose to $80.10.

Country Garden, China's largest property developer, experiences a surge in its stock price to 0.94 Hong Kong Dollars following the sale of a minority stake in a mixed development project in Guangzhou for 1.3 billion yuan. Additionally, the company extends the creditor voting deadline for a 3.9 billion yuan onshore private bond. Meanwhile, Malaysia's central bank assesses the financial stability risk for banks connected to Country Garden, stating that exposure to the developer is minimal, accounting for less than 0.1% of total banking system loans and bonds by June 2023. 

Chinese automaker BYD has made a major move in the tech world! BYD's electronics unit has just sealed a $15.8 billion deal to acquire Jabil Inc's mobile electronics manufacturing business in China. This strategic decision is set to broaden BYD Electronic's customer base, expand its product offerings, and reinforce its presence in the smartphone components market. 

NVIDIA's stock rose 2% to $468, driven by strong quarterly results and a $25 billion share buyback. Despite tripling in value this year, its forward price/earnings ratio dropped to 33x earnings, the lowest in eight months, amidst projections of doubled revenue and quintupled net income.

Sector and Industry Performance Update for Standard and Poor's 500 Index Stocks.

Stocks on Wall Street closed higher as 3M and Goldman Sachs gained ground ahead of key inflation and jobs data releases. The major indexes saw gains, influenced by Federal Reserve Chair Jerome Powell's remarks on possible interest rate hikes, with attention now on the impending economic reports.

Indeks Harga Pengeluar Malaysia yang mengukur harga barangan di pintu kilang, turun negatif 2.3 peratus pada Julai 2023 berbanding negatif 4.8 peratus pada Jun 2023.

Malaysian banks face the challenge of digital shift amid legacy systems. Backbase and IDC's Infobrief, "Accelerating Customer-Centric Transformation by Balancing Build and Buy," explores a collaborative strategy. Riddhi Dutta, Backbase's VP, Asia, discusses adoption hurdles, long-term benefits, and addressing unique customer needs in Malaysia's banking landscape.

MIDF Research menjangkakan trend pemulihan sektor penerbangan berterusan pada separuh kedua tahun ini didorong pengenalan semula lebih banyak laluan dan peningkatan dalam kekerapan penerbangan. Firma penyelidikan itu berkata, kehadiran syarikat penerbangan utama dijangka meluaskan jangkauan pasaran Malaysia Airports Holdings Berhad (MAHB).