China plans to deploy a constellation of more than 1,000 remote sensing satellites to monitor Central Asia, according to Chinese state media outlets Xinhua and People's Daily.

The first batch, consisting of five satellites from the Tianwu Constellation, is expected to be launched into orbit by the end of 2026.

Joint regional project aims to strengthen environmental monitoring amid data concerns

The project is being presented as a joint initiative with Kazakhstan, Uzbekistan, and Tajikistan. According to the official announcement, it is designed to monitor environmental changes and help mitigate the impact of natural disasters and climate change.

However, remote sensing satellites are also known as "eyes in the sky" because of their ability to collect a wide range of data for both civilian and military purposes. The satellites will be owned by China, and all data collected will be processed within China, while Central Asian countries will receive only limited access to that information.

Beijing expands influence in AI, water management, and infrastructure across Central Asia

Kai-Fu Lee, founder and CEO of Beijing-based startup 01.AI, which is backed by Alibaba and Xiaomi, hosted a strategic seminar for the Kazakh government attended by most cabinet ministers and senior officials.

The seminar was aimed at advising policymakers on selecting, implementing, and deploying artificial intelligence models. Central Asia has become an increasingly competitive battleground between US and Chinese AI models seeking regional dominance.

Kai-Fu Lee also serves on the Artificial Intelligence Council of Kazakh President Kassym-Jomart Tokayev, advising the president on AI-related matters.

Meanwhile, Beijing Zhongguancun Tongli Technology Service Co., Ltd. signed an agreement with the Astana AI Film Festival Foundation to jointly finance, produce, and distribute AI-generated media content, according to Kazakhstan's Kazinform news agency.

In water resource management, China continues to deepen cooperation with Central Asian countries.

Kazakhstan's Ministry of Water Resources and Irrigation signed an agreement with the Chinese Embassy in Astana to launch a joint degree program between the Kazakh National University of Water Management and Irrigation and North China University of Water Resources and Electric Power. The initiative will allow Kazakh water management specialists to study in China, according to DKNews.kz.

The agreement also includes the establishment of a joint training center.

In Uzbekistan, officials from the Ministry of Water Resources met with China's Beijing Hrunan Technology Co., Ltd. to discuss modernizing water management infrastructure in the Jizzakh region, according to the country's official UzA news agency.

Kazakhstan

The governor of Kazakhstan's Abai Region announced the signing of memorandums of understanding with China's DDS Group to establish an industrial city with investments totaling $1.5 billion.

Officials also revealed an agreement with China's Jiachen Group to build an aluminum smelter with an investment of $1 billion.

Details of both agreements, including financing arrangements and ownership structures, have not yet been disclosed.

Separately, state-controlled China Nonferrous Metal Mining (CNMC) established a new subsidiary in Kazakhstan under the name GLY Minerals Ltd.

Given the scale of CNMC's existing operations in Kazakhstan, the new company is widely expected to oversee another major project.

One CNMC subsidiary is currently building a $1.56 billion copper smelter in the Abai Region, while another holds a 70% stake in a copper mining company in the Aktobe Region, where CNMC plans to invest an additional $600 million.

Kyrgyzstan

State-owned Eldik Bank will borrow up to 1 billion yuan, equivalent to just under $150 million, from the China Development Bank, according to Economist.kg.

The bank intends to use the funding to support small and medium-sized enterprises operating in infrastructure, green energy, manufacturing, and agriculture.

The report added that the agreement is significant because it provides long-term financing for local entrepreneurs, helping them modernize their production facilities.

Turkmenistan

Three Turkmen universities have signed agreements with China's Ministry of Education to launch Chinese language programs in Turkmenistan, conduct joint research and educational activities, strengthen cultural ties, and establish a unified education, culture, and information platform, according to Turkmen Portal.

At the same time, China's ambassador to Ashgabat awarded ten scholarships to Turkmen students to pursue higher education in China, according to the Turkmen government's official website.

China has also launched a freight rail service linking Qinghai Province in central China with the Balkan Region of Turkmenistan.

The region serves as a key logistics hub for transporting goods to Iran, Turkey, and European markets, according to Orient.tm.

The inaugural train, carrying 55 shipping containers, is expected to complete the journey in 14 to 15 days.

Uzbekistan

The Uzbekistan Textile and Garment Industry Association signed a memorandum of understanding with China's Xinjiang Production and Construction Corps to promote the long-term development of mutually beneficial partnerships, according to UzDaily.uz.

Wall Street's major indexes advanced on Thursday, supported by strong gains in semiconductor stocks that helped offset geopolitical concerns following renewed hostilities between the United States and Iran. Meanwhile, Meta Platforms shares declined after a Reuters report revealed plans to produce its own artificial intelligence chip.

The US military announced on Wednesday that it had launched another round of strikes against Iran aimed at ensuring continued shipping through the Strait of Hormuz. Tehran responded with attacks targeting US assets in Kuwait and Bahrain, deepening the confrontation as the fragile ceasefire agreement came under increasing strain.

Semiconductor rally offsets geopolitical concerns and lifts US indexes

The Philadelphia Semiconductor Index (SOX) surged about 5% in early trading, putting it on track for a second consecutive session of gains.

Applied Materials led the sector higher, with its shares jumping 9.4% to become one of the S&P 500's top performers, while the information technology sector gained 1.5%.

Micron Technology also climbed 9% after announcing plans to invest more than $250 billion in the United States by 2035 to meet growing demand for memory chips driven by artificial intelligence.

In contrast, Meta Platforms fell 1% after Reuters, citing an internal memo, reported that the company plans to begin production of its in-house AI chip in September. The decline weighed on the communication services sector, limiting gains in the S&P 500.

Investor sentiment toward AI-related stocks has been volatile in recent sessions amid concerns over whether the sector can sustain the rally that has pushed US equities to record highs in 2026 despite ongoing tensions in the Middle East.

"The S&P 500 and Nasdaq delivered exceptionally strong performance during the first half of the year, largely driven by memory chip companies," said Michael Hewson, Chief Market Analyst at iFOREX.

"There are concerns about whether these companies can continue delivering record revenue and profit growth, and when that coincides with the breakdown of the Middle East ceasefire, it creates a negative mix for markets," he added.

IBM shares fell 2.7%, while Microsoft lost 1.4% after Bloomberg reported that Starbucks had turned to artificial intelligence solutions that reduce its reliance on the two companies.

As of 10:06 a.m. ET, the Dow Jones Industrial Average was up 87.73 points, or 0.17%, at 52,436.12.

The S&P 500 gained 30.23 points, or 0.40%, to 7,512.94, while the Nasdaq Composite rose 160.02 points, or 0.62%, to 26,030.68.

On the economic front, the number of Americans filing new claims for unemployment benefits declined last week, signaling continued resilience in the labor market despite slower job growth in June.

On the monetary policy front, the Federal Reserve, led by Kevin Warsh, left interest rates unchanged at its June meeting. However, the minutes released on Wednesday showed that a small number of policymakers saw a case for raising borrowing costs before the committee ultimately agreed to keep rates on hold.

According to LSEG data, markets continue to price in at least one 25-basis-point Federal Reserve rate hike before the end of the year.

Among individual stocks, PepsiCo fell 4.7% despite reporting second-quarter revenue that exceeded analysts' expectations.

Market breadth was positive, with advancing stocks outnumbering decliners by 1.71-to-1 on the New York Stock Exchange and by 1.85-to-1 on the Nasdaq.

The NYSE recorded 28 new 52-week highs and 22 new lows, while neither the S&P 500 nor the Nasdaq Composite posted new intraday highs or lows during the session.

Copper prices climbed on Thursday, supported by expectations of tighter supplies amid ongoing tensions in the Middle East, despite pressure from expectations that the US Federal Reserve will maintain a more hawkish monetary policy.

In trading, September copper futures rose 2.7% to $6.27 per pound as of 15:05 GMT.

Bernstein raises copper price forecast on tightening supply outlook

Research firm Bernstein has revised its 2026 copper price forecast higher, projecting an average price of $12,419 per metric ton, with prices expected to average around $11,750 per ton during the second half of the year.

That estimate is slightly below the broader market consensus of $12,515 per metric ton.

The firm also expects copper to average around $10,700 per metric ton by 2030, as supply deficits emerge toward the end of the decade.

Bernstein said recent movements in copper prices have been driven by a combination of macroeconomic, geopolitical, and supply-demand factors.

The ongoing conflict in the Middle East has pushed energy prices higher, weighing on industrial sentiment, while a stronger US dollar and growing expectations of a more hawkish Federal Reserve have broadly pressured commodity markets.

At the same time, supply-side factors have provided support for copper prices after several mining companies lowered their production forecasts, while continued stockpiling activity in the United States has further tightened conditions in the physical copper market.

Bernstein said its updated outlook reflects a balance between short-term headwinds from monetary policy and currency movements, and the underlying support provided by constrained physical copper supplies.

Bitcoin (BTC) posted a modest recovery during Thursday's trading, climbing back above the $63,000 mark after failing to break through the key resistance area near $64,000 earlier this week.

Mixed flows into spot Bitcoin exchange-traded funds (ETFs) since the beginning of the week reflect continued caution among institutional investors, while renewed tensions between the United States and Iran have weighed on risk appetite, limiting the upside for the world's largest cryptocurrency.

Geopolitical tensions and rate hike expectations cap gains

Relations between Washington and Tehran escalated again this week after US forces launched a fresh wave of strikes against Iran in response to attacks on commercial vessels in the Strait of Hormuz.

Iran retaliated by targeting US military facilities and assets in Bahrain and Kuwait, while US President Donald Trump declared on Wednesday that the ceasefire agreement with Iran was "over."

At the same time, minutes from the Federal Open Market Committee's June 16-17 meeting, released on Wednesday, revealed divisions among Federal Reserve officials over the future path of interest rates.

The minutes showed growing concern over inflation, while worries about the labor market eased slightly.

Following the release, derivatives markets raised the probability of a Federal Reserve rate hike at the July meeting to more than 27%, up from less than 20% last Thursday, according to CME Group's FedWatch tool.

Those developments, combined with rising geopolitical risks, dampened investor appetite for risk, leaving Bitcoin unable to establish a foothold above the key $64,000 resistance level.

Institutional demand remains cautious despite modest positive signals

As noted in a previous report, institutional demand improved modestly during the first two trading sessions of the week after several weeks of net outflows.

However, data from SoSoValue showed that spot Bitcoin ETFs recorded net outflows of $84.86 million on Wednesday, highlighting continued caution among institutional investors amid escalating geopolitical tensions.

Analysts warn that if the outflow trend resumes and accelerates, Bitcoin could face another wave of price correction.

On the other hand, CryptoQuant's weekly report, released on Wednesday, pointed to several modestly positive signals.

According to the report, Bitcoin's performance in July could benefit from a recovery in overall demand, which has returned to levels close to neutral after experiencing its sharpest contraction since 2022.

The data showed that the 30-day change in total demand, including both the spot and perpetual futures markets, fell to around negative 650,000 BTC in early June, its weakest reading since 2022, as Bitcoin dropped to around $58,000.

Since then, demand has gradually recovered toward neutral levels, with speculative demand in the futures market turning slightly positive, while the contraction in spot market demand has slowed to its weakest pace since mid-May.

A CryptoQuant analyst said that a shift in demand into positive territory would confirm that Bitcoin's demand momentum is beginning to recover.

From a technical perspective, Bitcoin traded at $63,018 on Thursday after a modest rebound from rejection near the $64,000 level.

The cryptocurrency still maintains a bearish short-term outlook, trading below a series of key exponential moving averages. The 50-day EMA stands at $65,445, the 100-day EMA at $69,086, and the 200-day EMA at $75,139, suggesting that any rebound is likely to remain part of a broader corrective trend.

Momentum indicators, however, have improved modestly. The Relative Strength Index (RSI) has recovered toward the neutral 49 level, while the Moving Average Convergence Divergence (MACD) indicator remains in positive territory, reflecting easing selling pressure rather than a clear signal that a new uptrend has begun.