Stock Market Overview
Overview of US stocks
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Closing performance of the three major indices: On August 4th, the S&P 500 index rose 1.79% to 7,736.52 points; the Dow Jones Industrial Average rose 1.71% to 54,085.88 points; the Nasdaq Composite Index rose 2.59% to 26,584.99 points. Driven by strong earnings and falling oil prices, both the S&P 500 and the Dow Jones Industrial Average set new closing records.
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Segment performance: AI software, chip and data center industry chain transactions are active, and funds are flowing back into high beta technology stocks. Palantir saw a significant increase of about 29.3% due to improved performance and full-year revenue guidance, Caterpillar rose about 6.5%, Nvidia rose 2.6%, Broadcom rose 6.6%, and Micron Technology rose 7.6%. The energy sector lagged behind, mainly due to a significant drop in international oil prices.
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Major announcements and economic data: The list of key financial reporting companies includes Palantir Technologies, Caterpillar, McDonald's, AMD, Pfizer, Uber, and Super Micro Computer. No key macro data such as CPI, non-farm payrolls, or FOMC resolutions were released overnight; Brent crude oil fell below $80 per barrel, which is the main macro variable in the market.
Overview of Hong Kong Stock Exchange
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Market closing performance: On August 4th, the Hang Seng Index fell 0.60% to 25,852.92 points, ending its six consecutive trading days of gains; the Hang Seng Technology Index rose 0.21% to 4,885.61 points.
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Southbound capital: On the day, the net purchase of Southbound capital was about 2.57 billion Hong Kong dollars, which was significantly narrower than the previous trading day of about 11.03 billion Hong Kong dollars. The funds mainly flowed into Alibaba, Huahong Semiconductor and SMIC, while Meituan and Tencent had net outflows.
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Segment performance: The semiconductor and medical CXO sectors led the gainers, with SMIC rising nearly 5%, Huahong Semiconductors rising more than 6%, and WuXi AppTec rising more than 11%. Banks, oil, and some high-dividend sectors led the losers, with most domestic banks falling more than 3%. The relative strength of tech stocks caused the Hang Seng Technology Index to outperform the Hang Seng Index.
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Major announcements and IPO dynamics: WuXi AppTec announced that its operating income for the first half of the year was about RMB 28.897 billion, a year-on-year increase of 38.93%, and raised its full-year performance guidance. Chuangke Industry held a 2026 interim performance investor and analyst briefing; Ingenia Therapeutics promoted arrangements for listing in Hong Kong.
Overview of South Korean Stock Market
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Market closing performance: On August 4th, KOSPI rose 1.62% to 6,358.95 points; KOSFIL rose 5.88% to 780.72 points. KOSFIL rebounded continuously and clearly outperformed the market.
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Foreign and institutional capital flow: The market shows a recovery of growth stocks and small and medium-sized stocks, and the semiconductor equipment sector of the KOSDAQ has received concentrated buying from institutions.
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Weighted sector performance: The semiconductor and technology growth sectors have rebounded, with KOSDAQ biotech and small and medium-sized tech stocks performing well; the battery and new energy sectors have rebounded as risk appetite has improved. The KOSPI has seen relatively limited gains, indicating that large semiconductor stocks like Samsung Electronics and SK Hynix have not rebounded as strongly as small and medium-sized growth stocks.
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Major Events: The Korean financial sector continues to study tightening investment restrictions on single-stock leveraged ETFs, including increasing trading margins and limiting the proportion of related products in personal financial assets.
Crypto Market Overview
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BTC (+0.83% | current price 64,266 USDT) In an environment where regulatory uncertainty continues and risk sentiment remains low but short-term acceptance is improving, BTC is fluctuating and strengthening. The hourly and 4-hour moving average structures are bullish, and the short-term moving average is running above the medium-term moving average, but the daily structure is still bearish, indicating that the short-term repair has not yet reversed the larger-scale pressure. The EMA is short-term upward and leading the long-term cycle, the MACD is increasing positive momentum, and the RSI is in a neutral-to-bullish area. In terms of Bollinger Bands, the price is running above the middle band and close to the upper band, indicating short-term momentum. However, a sustained breakout still requires volume to match. The first support zone is between 63,910 USDT and 63,470 USDT, with further support at 63,327 USDT; the main resistance zone is between 64,424 USDT and 65,000 USDT.
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ETH (+0.47% | current price 1,874.82 USDT) ETH rebounded slightly in an environment where major cryptocurrencies are recovering simultaneously and the narrative of tokenized finance is heating up, but market sentiment remains cautious. The hourly moving average structure is bullish, the short-term moving average is located above the medium-term moving average, and the 4-hour structure is still bearish while the daily line remains bullish, indicating short-term improvement and medium-term pressure. The EMA is moving up short-term, the main cycle is gradually converging, the MACD continues positive momentum, and the RSI is in the neutral zone. In terms of Bollinger Bands, the price is above the middle band and close to the upper band, with limited bandwidth. The trend is more towards repair within the range. The first support zone is between 1,868 USDT and 1,856 USDT, with further support at 1,849 USDT; the main resistance zone is between 1,882 USDT and 1,900 USDT.
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Altcoins: Over the past 24 hours, the cryptocurrency market has rebounded moderately against the backdrop of divergent US regulatory agendas, cautious macro liquidity expectations, and a resurgence of local tech narratives. BTC has rebounded above 64,000 USDT, ETH has slightly followed, and GT is trading sideways; ComputeFi, AI data services, and Web3 infrastructure tokens have been active, but the gains have mainly been concentrated in a few stocks. Today's cryptocurrency market fear-greed index is 25, down 3 points from the previous day, entering the "extreme fear" range. The divergence between price recovery and weak sentiment indicates that the market remains cautious about the progress of supervision, policy path, and the sustainability of the rebound. The sharp rise of some tokens has not yet led to an increase in overall risk appetite.
Trending Tokens
CYS Cysic (+80.27%, market cap $80.609 million)
According to Gate market data, CYS is currently priced at 0.5145 USDT, an increase of 80.27% in 24 hours. Cysic is building a ComputeFi infrastructure that converts global computing resources into verifiable and tokenized on-chain assets through hardware acceleration, zero-knowledge proof systems, and a verifiable computing market.
CYS has not released any verifiable major project announcements in the past 24 hours. This round of increase is mainly driven by the heating up of the narrative of ComputeFi and zero-knowledge computing power, the concentration of buying and the rapid expansion of transactions. After the daily increase is significantly higher than the market, the price is more sensitive to profit taking, and it is necessary to observe whether the supply of computing power, network usage, and transaction depth can increase simultaneously in the future.
SKYAI SKYAI (+27.23%, market cap $50.15 million)
According to Gate market data, SKYAI is currently priced at 0.05284 USDT, an increase of 27.23% in 24 hours. SKYAI is an AI data ecosystem driven by model context protocols, providing multi-chain data services, data liquidity, and MCP markets for large language models. It has aggregated large-scale on-chain data sets from multiple public chains.
The rise of SKYAI is related to the recovery of the AI sector and the increasing market attention to on-chain data services and intelligent agent infrastructure. The effect of the gain list has further attracted short-term funds. There have been no new independent major announcements in the past 24 hours, and the continuation of the market still depends on the volume of data calls, developer adoption, and the verification of real market demand for MCP. The volatility risk after the concentrated rise needs to be continuously monitored.
BICO Biconomy (+25.77%, circulating market cap of $20.284 million)
According to Gate market data, BICO is currently priced at 0.021533 USDT, with a 24-hour increase of 25.77%. Biconomy is a developer infrastructure that simplifies the Web3 user experience. It supports cross-chain applications, token payment of Gas, and Gas-free interaction through APIs and account abstraction tools, helping applications reduce the user threshold.
BICO did not retrieve any project-level events in the past 24 hours that could explain the increase alone. This round of rebound is more of a technical repair after a rapid decline, with rotation in the Web3 infrastructure sector and increased short-term trading. Its low market cap makes the price sensitive to concentrated buying, and it will be necessary to observe whether developer integration, account abstraction usage, and liquidity continue to improve in the future.
Alpha Insights
NEAR co-founders propose the establishment of an agreement sovereign fund
NEAR co-founder Illia Polosukhin proposed the establishment of a protocol sovereign fund on August 4, 2026, using the existing and future national treasury, historical income, and subsequent income of the protocol as the source of funds, and holding NEAR to obtain income. The proposal plans to use part of the income to support verifiers, MPC services, and ecosystem public goods. The initial national treasury is expected to be about 30 million NEAR, currently worth about 53 million US dollars, and will be open for community discussion for two weeks.
The plan aims to shift from one-time destruction of tokens to sustainable asset management, covering long-term public expenditure through income and gradually reducing effective inflation. If governance and risk control are mature, the financial stability of the protocol may be enhanced; however, the fund's centralized holding of native tokens may amplify price and liquidity risk, and the actual effect still depends on the source of income, transparency of expenditure, and community authorization boundaries.
Mastercard has completed the acquisition of BVNK, a stablecoin infrastructure company
Mastercard announced the completion of its acquisition of stablecoin infrastructure company BVNK on August 4, 2026. The company plans to integrate BVNK's technology into its global payment network to expand the application of stablecoins and tokenized assets for financial institutions, fintech companies, and enterprises. Key scenarios include inter-enterprise payments, fund distribution, settlement, and treasury management. The final transaction amount was not disclosed, but the previously announced agreement valuation cap was $1.8 billion.
The acquisition indicates that traditional payment networks are incorporating stablecoins from experimental products into their core settlement infrastructure, shifting the competition focus to compliance access, cross-border coverage, and enterprise-level liquidity management. If the synergy effect can be realized, the institutional use of stablecoins may expand; at the same time, regulatory licenses, on-chain risk isolation, and existing customer migration costs remain key variables in the integration phase.
BlackRock has launched two tokenized money market funds for institutions
BlackRock launched two on-chain money market products for institutions on August 4, 2026, primarily investing in cash, short-term US Treasury bonds, and overnight repurchase guaranteed by US Treasury bonds. One is an Ethereum tokenized share of an existing money fund, and the other is designed for stablecoin reserve management, supporting daily dividend reinvestment and multi-chain access, aiming to connect traditional cash management with digital asset settlement needs.
This is a significant change in this issue of Financial Marekt, showing that tokenization is expanding from experimental securities to cash management and stablecoin reserves. High-quality short-term assets can improve reserve transparency and capital efficiency, but the liquidity of on-chain shares, accredited investor restrictions, cross-chain operation risks, and interest rate cycle sensitivity will determine whether the product can achieve sustainable scale.
Reference materials:
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Disclaimer
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