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An ailing tech fund that plummeted 58% as a result of Beijing's anti-corruption crackdown has recently roared back to become the largest U.S. ETF betting on the Asian nation. On Tuesday, the KraneShares CSI China Internet Fund (ticker KWEB) added $181 million in new capital, bringing its total assets to $6.2 billion, the most recent session for which data is available. The exchange-traded fund has now surpassed the $6.1 billion iShares MSCI China ETF as the market leader (MCHI). Source: Bloomberg

Who does not love some Amazon ? Well the spread between Amazon and QQQ has been blowing up. Amazon's stock has lagged the broader market by the highest degree in its existence. In the past three weeks, it has set ten six-month lows relative to the S&P 500. Source: TME

Xiaomi Corp. will buy autonomous driving technology startup Deepmotion for about $77.4 million, sealing a deal to help further its ambitions of getting into the fast-expanding field. The company announced the acquisition after reporting better-than-expected results for the second quarter, when a recovery in key markets like India helped it overtake Apple Inc. to become the world’s second-largest phone vendor by shipments. Revenue surged 64% to 87.79 billion yuan ($13.6 billion) in the quarter ended June, surpassing the 85.01 billion yuan average of estimates. Source: Bloomberg

As earnings from a number of companies failed to meet investor expectations, Chinese technology stocks fell sharply, snapping a three-day rally. In Hong Kong, the Hang Seng Tech Index was down 2.7%. Live steaming giant Kuaishou Technology and electronics component maker AAC Technologies Holdings Inc both fell by at least 13% after missing estimates, dragging the index down. Source: Bloomberg

Card networks like Visa Inc. and Mastercard Inc. set the interchange fees that businesses pay to credit-card issuers when consumers use credit cards. Merchants also pay fees to the networks and other intermediaries involved in processing the payments. The total dollar amount of these merchant fees from Visa and Mastercard credit cards more than doubled between 2012 and 2019 to $67.6 billion, according to the Nilson Report. Credit-card usage declined in the pandemic, causing fees to fall 15% to $57.3 billion. Source: WSJ