Nomura cuts China's Q3 GDP forecast to 4.3% y-o-y
China's economy is feeling the heat: Nomura just cut its Q3 real GDP growth forecast to 4.3% y-o-y from 4.5% as key indicators like car sales and new-home sales keep dropping.
Policy support remains subdued, though Nomura expects policy efforts to speed up in September and October.
Alibaba, NetEase and J&T Express surge
It's not all bad news: Alibaba's AI and cloud businesses are booming, with cloud revenue jumping 45% year-over-year and expected to keep climbing.
NetEase saw operating profit rise 33% in Q2 2026 (the June quarter), driven by "broad-based gross-margin improvement and particularly strong margin expansion in games as well as operating leverage," though higher taxes hit its bottom line.
J&T Express reported a 40% revenue increase in the first half of 2026 (1H26), riding strong parcel demand in Southeast Asia and China.