Friday, August 14, 2026 — China/HK stocks fall as liquidity tightens ahead of Unitree IPO; Nikkei extends weekly gains on softer US inflation; yen intervention puts BOJ rate path in spotlight.

Geopolitics: Bessent says Washington will hit Tehran with measures "that have never been seen"—oil and shipping risk premia are underpricing this tail. China military: SCMP satellite images show a 50% boost to China’s Type 054B missile capacity—quiet defense bid, but it adds to regional friction. Japan macro: Yen intervention puts BOJ rate-hike path in focus; Nikkei’s weekly gain on soft US CPI is real, but carry unwind risk is not gone. China/HK: Liquidity tightening into the Unitree IPO is the issue—China/HK stocks falling says local cash is scarce; PBOC semiannual conference adds policy uncertainty. Tech/AI: SMIC says AI spillover effects are boosting peripheral chip prices—not sure people appreciate China semis get an AI halo even with geopolitics capping upside. India: SEBI proposes a colour-coded credit risk-o-meter for debt securities and asset thresholds for accredited investors; Air India A320 lost flight controls for 4 seconds—regulatory and operational risk both on scre

Geopolitics: Bessent says Washington will hit Tehran with measures "that have never been seen"—oil and shipping risk premia are underpricing this tail.