HK Movers | Chip Stocks Drop With Hua Hong Grace Down 7%, SMIC Down 3%

Microsoft (MSFT) shares rose above the $460 mark following the release of its Q4 FY2026 earnings report, leaving the stock just $1 shy of its previous high of $466.32. The results highlighted that the primary catalyst for the stock's strength is evidence that AI monetization has entered an accelerated track, further reflecting investors' heightened focus on the return on investment (ROI) for AI spending.

TradingKey - On July 31, Eastern Time, AMD (AMD) closed at $476.15, representing a market capitalization of approximately $776.41 billion, down 1.90% for the day. After a previous round of sharp volatility, the share price has seen a cumulative retracement of nearly 18.5% from its all-time high of $584.

Microsoft surged 16% adding $450B in a single day. Amazon jumped 10%. Meta crashed 10%. Apple fell 4%. The KOSPI gained 17.9% — the largest one-day gain in its history. Here is everything that happened in the most important week for AI stocks in 2026 and what traders do next.

The biggest tech earnings week is over. Now comes the hangover test. Palantir reports Monday. AMD reports Tuesday. SanDisk reports Wednesday. NFP drops Friday. Here are the 5 stocks and 3 macro events that define the week of August 3 to 7, 2026.

TradingKey - Situational Awareness, an AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, has recently been hit hard by a significant correction in AI stocks. Under the pressure of leverage, the fund was forced to liquidate a large portion of its public market holdings and is currently seeking new financing support. Once regarded by Silicon Valley as one of the most representative AI investors, Aschenbrenner has now become one of the most high-profile victims of the recent plunge in the AI sector.