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On August 26, Baidu (09888.HK) announced on the Hong Kong Stock Exchange that all resolutions presented in the notice of the shareholder extraordinary meeting issued on July 27, 2026, were officially approved during the meeting held on that day. Following past precedents, if Baidu can complete the conversion by September 3, ahead of the inspection date, it is expected to be officially included in the current adjustment window for Hong Kong Stock Connect as early as the week of September 7.

On August 26, Australia's second largest pension fund, the Australian Retirement Trust (ART), is making a contrary bet on the yen. Managing approximately AUD 370 billion (about USD 265 billion) in assets, ART has been steadily increasing its yen holdings over the past six months, with its yen allocation reaching a multi-year high. As the yen approaches 160 against the dollar, ART is adding to its positions, with some funds coming from a reduction in dollar exposure. ART's senior portfolio manager, Jimmy Louca, stated that the market may be overestimating the impact of energy prices on the yen while underestimating the possibility of interest rate hikes by the Bank of Japan. Current interest rate swaps indicate an approximately 80% probability of a rate hike by the Bank of Japan in September, with the market fully pricing in a hike in October. A Reuters survey shows that 57% of economists expect the Bank of Japan to raise rates to 1.25% in September. Meanwhile, ART is currently underweight in U.S. Treasuries by about 0.5 percentage points, citing reasons such as persistently high U.S. inflation, resilient economic conditions, and competition for capital between AI investment booms and government spending. Louca anticipates that the yield on 30-year U.S. Treasuries may rise further towards 5.5%.

On August 26, Australia's second largest pension fund, the Australian Retirement Trust (ART), is making a contrary bet on the yen. Managing approximately AUD 370 billion (about USD 265 billion) in assets, ART has been continuously increasing its yen holdings over the past six months, with its overweight position in yen reaching a multi-year high. As the yen approaches 160 against the dollar, ART has added to its position, with some funds coming from a reduction in dollar exposure. ART's senior portfolio manager, Jimmy Louca, stated that the market may have overestimated the suppressive effect of energy prices on the yen while underestimating the likelihood of interest rate hikes by the Bank of Japan. Current interest rate swaps indicate an approximately 80% probability of a rate hike by the Bank of Japan in September, with the market fully pricing in a hike in October. A Reuters survey shows that 57% of economists expect the Bank of Japan to raise rates to 1.25% in September. Meanwhile, ART is currently underweight in U.S. Treasuries by about 0.5 percentage points, citing reasons such as persistent inflation above target in the U.S., resilient economic performance, and competition for capital between the AI investment boom and the government. Louca anticipates that the yield on 30-year U.S. Treasuries may rise further towards 5.5%.