US-Iran Sanctions Shockwaves: Washington rolled out “Operation Economic Outcast,” targeting Iran-linked sectors like digital assets, technology, gold, aviation and shipping, and warning countries and firms—including some Hong Kong-linked entities—that they face secondary sanctions risk; China Pushback: Beijing’s foreign ministry said the measures have “no basis in international law,” vowed “all necessary measures” and insisted cooperation with Iran won’t be disrupted; Local Court Fallout: A Hong Kong court verdict in the Tiananmen vigil “inciting subversion” case is being framed by activists as an attempt to erase June 4 memory, with overseas rights groups and Beijing both weighing in; Hong Kong Trade & Economy: July exports jumped 50.7% on AI-driven electronics demand, while the city’s trade deficit nearly disappeared as imports rose more slowly; Hong Kong IPO Watch: Shein’s Hong Kong listing plans keep shifting amid valuation cuts and scrutiny, with filings also drawing criticism over how much of proceeds go to sustainability; Public Health & Services: Hong Kong’s Chinese Medicine Hospital is set to start 24-hour inpatient services in December, as the government continues to expand healthcare capacity.