GMT EIGHT - OPPORTUNITIES IN CHINA

Tesla, Inc. (TSLA.US) Q2 delivery fees increase modestly, AI narrative heating up, automotive business remains the cornerstone.

Analysts predict that Tesla's global car delivery volume in the second quarter is expected to increase slightly compared to the same period last year, but still significantly lower than the peak levels in recent years.

US Stock Market Move | Reddit (RDDT.US) rose over 10% in early trading, hitting a five-month high.

On Wednesday, Reddit (RDDT.US) rose more than 10% in early trading, hitting a five-month high, now trading at $192.22.

A-share evening hotspots | What signal? Why do dozens of companies issue warnings in succession in the evening?

On the evening of July 1st, multiple stocks once again issued a dense release of risk warning announcements.

The European Central Bank sends different signals internally! The Governor of the Central Bank of Estonia supports further interest rate hikes, Lagarde said the risks are becoming more balanced.

The European Central Bank is still debating internally whether further interest rate hikes are necessary.

US Stock Market Move | The planned "Century Merger" falls through, Shutterstock (SSTK.US) plunges nearly 30% and Getty Images (GETY.US) drops over 8%.

On Wednesday, following the failure of the "Century Merger", Shutterstock (SSTK.US) plummeted nearly 30% in early trading, while Getty Images (GETY.US) dropped over 8%.

US Stock Market Move | Microsoft Corporation (MSFT.US) rose more than 3%, and there are rumors that the company is planning a new round of layoffs.

On Wednesday, Microsoft (MSFT.US) opened higher, with an increase of over 3% as of the time of writing.

US manufacturing expansion slowed in June. Cost index saw the largest drop in almost four years.

In June, manufacturing activity in the United States expanded for the sixth consecutive month, indicating that the country's factory sector continues to grow with support from capital expenditure, investment in artificial intelligence, and defense demand.

US Stock Market Move | The valuation frenzy is cooling down, SpaceX (SPCX.US) drops more than 7%.

On Wednesday, SpaceX (SPCX.US) continued to decline at the opening, with intraday losses expanding to 7%, after a cumulative increase of 12% over the previous two trading days.

US Stock Market Move | Popular Chinese concept stocks mostly rise. PDD Holdings Inc. Sponsored ADR Class A (PDD.US) surged almost 6%.

On Wednesday, most popular Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index up nearly 2%.

US Stock Market Move | Wash said that inflation risks in the United States have decreased, with gold and silver stocks generally rising. Gold Fields Limited Sponsored ADR (GFI.US) rose more than 4%.

On Wednesday, gold and silver stocks generally rose.

Federal Reserve Chairman Powell: Inflation risks easing, we will continue to achieve the 2% inflation target and maintain policy independence.

After Powell's speech, the three major indexes of the US stock market narrowed their losses, with the Dow turning positive, the Nasdaq narrowing its decline to 0.31%, and the S&P 500 index slightly falling by 0.05%.

US Stock Market Move | AI application software stocks rose against the market trend, with Palantir (PLTR.US) gaining nearly 6%.

On Wednesday, US stocks of AI application software companies rose against the trend, with Applovin (APP.US) up over 6% and Palantir (PLTR.US) up nearly 6%.

US Stock Market Move | Walmart Inc. (WMT.US) opened with a 5% decrease, down nearly 20% from its peak in May.

On Wednesday, Walmart (WMT.US) opened with a 5% increase in losses, down nearly 20% from the peak in May, now trading at $107.77.

Meta (META.US) wants to turn AI capital expenditures into "computing power balance sheets"! From the AI arms race to entering the cloud computing world, Meta wants to take full advantage of the benefits of the AI reasoning era.

The core logic behind Meta's establishment of AI cloud business is to strive to transform the expensive computing assets such as huge ASIC/TPU/GPU formed by the "super-intelligent" arms race, data center CPUs, data center power chains and optical interconnection networks, and expensive storage components from a simple internal cost center into an AI computing infrastructure platform that can be rented externally.

US Stock Market Move | The concept of storage stocks fell, Micron Technology, Inc. (MU.US) dropped 6%.

On Wednesday, storage concept stocks fell, with Sandisk (SNDK.US) dropping 7.5%, Western Digital (WDC.US) falling over 4%, and Micron Technology (MU.US) declining by 6%.

US Stock Market Move | Meta Platforms (META.US) is planning to enter the cloud computing market. Its stock price jumped over 8% at the opening.

On Wednesday, it was reported that Meta Platforms (META.US) is building a cloud business, causing its stock price to open up over 8%.

Spot gold breaks through $4080 per ounce, up 1.84% intraday.

Nasdaq China Golden Dragon Index rose more than 0.5%, Shengfeng Logistics rose 6.39%, Zhongjin Medical rose 3.30%, Century Internet rose 2.55%, E-Compass Technology rose 3.10%, and Wanguo Data rose 3.06%.

Spot gold broke through $4050 per ounce, rising 1.08% intraday.

U.S. stock market opening: all three major stock indexes fall together.

The Dow Jones fell by 0.31%, the S&P 500 fell by 0.44%, and the Nasdaq fell by 0.60%. Among individual stocks, Sandisk fell by 7.05%, Seagate fell by 6.58%, Corning fell by 6.11%, and Micron fell by 5.82%. The "Seven Sisters" group of technology stocks saw Meta Platforms rise by 6.05%, Microsoft rise by 1.52%, Tesla rise by 0.94%, Apple rise by 0.74%, Google rise by 0.57%, Amazon rise by 0.15%, and Nvidia fall by 2.77%.

Oracle Corporation (ORCL.US) annual report points out the risk of data center investment, will the pressure test of US stock AI narrative be welcomed?

Cloud computing giant Oracle (ORCL.US) issued a new warning to investors in its annual financial report, stating that all investments in data centers may not generate returns.

In June, the US "small non-farm" unexpectedly cooled, with an increase of only 98,000, but layoffs plummeted, and wage increases supported the Fed's confidence in raising interest rates! The market is closely watching tomorrow's non-farm data.

Wednesday's release of the latest data shows that the widely known "mini non-farm" ADP employment data in the United States fell short of expectations in June. However, combining indicators such as a sharp decrease in layoffs and accelerated wage growth, the US labor market still shows strong resilience.

The image library giant "Century Merger" in the AI copyright era failed! Getty abandons $3.7 billion acquisition, Shutterstock (SSTK.US) stock price plummets.

Shutterstock's stock price plummeted after Getty canceled the merger and the sale of their editing business.

The tide continues to rise on Wall Street: Goldman Sachs and others are bullish on US stocks in the second half of the year, while Bank of America is wary of a summer "squat".

Goldman Sachs said that global stock markets are expected to continue their hot momentum from the second quarter, with profit growth of technology companies being a key driving factor.

Google's parent company Alphabet Inc. Class C (GOOGL.US) has been ordered to compensate Klarna (KLAR.US) nearly $2 billion for abusing its dominant position in search to favor its own price comparison service.

Due to abusing its dominant position in the price comparison shopping service market, Google has been ordered by a Swedish court to pay nearly 2 billion US dollars in compensation to Pricerunner, a subsidiary of Klarna Group Plc.

When Wall Street strategists rely on the same AI system: trading becomes more crowded, risks become more concentrated, and errors spread faster.

The core of market attention has shifted from "can technology help investors beat the market" to "how will market structure evolve when a large number of investors rely on the same machines".

The wave of "nuclear power revival" is sweeping over! Oklo (OKLO.US) reactor commercialization welcomes a key milestone, sprinting towards first criticality.

After obtaining approval, Groves will move from the document stage to the final pre-start review phase of the US Department of Energy, which includes preparation status review and start approval before the reactor can receive nuclear fuel and undergo start-up testing.

Preview of US Stock Market | Three major stock index futures fell together. Washington will appear at the European Central Bank forum tonight.

On July 1st (Wednesday) before the stock market opens, futures for the three major US stock indexes all fell.

Selected A-share Announcements | Billion-dollar giant Xiamen Tungsten(600549.SH) sudden announcement: Subsidiary is currently "basically shut down"

Xiamen Tungsten Industry announced that its holding subsidiary Luoyang Yulu Mining Co., Ltd. has ceased production due to the suspension of tailings supply by Luoyang Molybdenum Industry.

The circle of currency is getting colder! After Bitcoin falls below $60,000, Citi cuts its target price for Bitcoin and Ethereum.

Recently, several well-known Wall Street institutions, including Citigroup, have significantly reduced their bullish expectations for Bitcoin or other crypto assets.

"Either pay up or prepare for war!" Iran is determined to collect "toll fees" for the Strait of Hormuz, and may implement them by mid-August.

According to two senior Iranian officials, Iran is determined to seek international recognition of its control over the Strait of Hormuz and its right to levy tolls on ships entering and exiting the Persian Gulf, even if it has to resort to the use of force.

Behind the 100% surge in the South Korean stock market in half a year: foreign capital fleeing 148 trillion Korean won, retail investors leveraging nearly 100 trillion.

With the significant increase in the weight of South Korean stocks in global investment portfolios due to the surge in stock prices, foreign funds face the pressure of rebalancing and need to actively reduce their holdings to maintain the established asset allocation ratio.

China and the United States successively cleared! Paramount Sky (PSKY.US) submits anti-monopoly remedies to the European Union for the $110 billion acquisition case.

Paramount Sky (PSKY.US) has submitted remedies to address the competition concerns of the European Union over its $110 billion acquisition of Warner Brothers Discovery (WBD.US).

Guangqi Trading: After research, it has been decided that starting from the settlement on July 3, 2026, the daily price limits for platinum and palladium futures contracts will be adjusted to 14%, and the trading margin requirement will be adjusted to 16%.

Officials from the Ministry of Finance answer questions from reporters on issues related to the new World Bank-China Country Partnership Framework involving loans to China.

Recently, the relevant officials of the Ministry of Finance were interviewed by reporters on the issue of China-related loans under the new World Bank-China Country Partnership Framework. The reporter asked: Recently, foreign media quoted World Bank officials as saying that the World Bank plans to significantly reduce the size of sovereign loans to China in the new Country Partnership Framework. The size of sovereign loans from 2026 to 2031 will not exceed $2 billion, and no more loans will be provided to China afterwards. What is the Ministry of Finance's view on this? Over the past 40 years, China and the World Bank have conducted fruitful cooperation and established a comprehensive partnership, making positive contributions to China's reform and opening-up and global poverty reduction and development. With the significant increase in China's comprehensive national strength, the World Bank's loans to China have gradually decreased in recent years. This is a natural result of changes in domestic demand and the transformation of cooperation between the two sides, and also in line with international practices of cooperation between many member countries and the World Bank. Looking ahead, as the largest developing country, China will continue to strengthen cooperation with the World Bank in addressing global challenges and place more emphasis on knowledge cooperation. While promoting high-quality domestic development, China will help other developing countries achieve common prosperity.

Inflation cools down more than expected, manufacturing output hits near four and a half year high, European Central Bank pauses interest rate hikes with strong data support.

The eurozone economy in June presented complex signals: on one hand, inflation slowed more than expected, providing space for the European Central Bank to pause interest rate hikes; on the other hand, manufacturing output achieved its best quarterly performance in nearly four and a half years, indicating that the real economy still has resilience.

Italian tech-hunter Bending Spoons (BSP.US) is about to land on NASDAQ, pricing its IPO above the range.

The company plans to raise $1.7 billion by issuing 58 million shares of stock on the US stock market, with 41% being sold in secondary offerings, at a price of $29 per share.

162 checkpoints lost, 170 curse approaching? Japanese yen defense war is at a turning point again, Japanese exchange rate authorities hint at US tacit approval of intervening in the exchange market.

Japanese Deputy Finance Minister in charge of international affairs, Atsushi Mimura, said that intervention is an effective strategy and emphasized the need for close communication between Tokyo and Washington on foreign exchange issues.

The 2008 financial crisis team reunites in Singapore! The expectation of a Fed rate hike clashes with "AI bubble pressure test". Will Powell's overseas debut end with a "hawkish" stance?

Wash's global debut in the historic city of Sintra, Portugal, essentially wasn't a regular central bank forum speech, but rather the first public calibration of the market's reaction function to the "new era of the Fed under Wash's leadership".

Hong Kong building maintenance and renovation service provider Grand Engineering applies for listing in the United States, intending to raise $28 million.

Hong Kong's building maintenance and renovation service provider Wide Engineering has submitted an application to the US Securities and Exchange Commission (SEC) to raise up to 28 million US dollars through an initial public offering (IPO).

French red wine producer Lagarosse Holdings (LAGH.US) has applied for an IPO in the United States with plans to raise $29 million.

French red wine producer, exporter, and retailer Lagarosse Holdings, headquartered in France and owning vineyards in Bordeaux, submitted an application to the U.S. Securities and Exchange Commission (SEC) on Tuesday, intending to raise up to $29 million through an initial public offering (IPO).

During the exploration phase, rare earth mineral company IMC Rare Earths (IMC.US) is aiming to debut on the US stock market and raise $20 million through an initial public offering (IPO).

During the exploration phase, the rare earth mining company IMC Rare Earths has submitted an application to the US Securities and Exchange Commission to raise up to $20 million through an IPO.

The changing market environment has led to the postponement of the $400 million IPO of CopperTech Metals (CUX.US), a spin-off company from Werdanta.

On Tuesday, CopperTech Metals, which was spun off from Vedanta and focuses on Zambia's copper mining business, postponed its initial public offering (IPO) citing market conditions.

Raking in $49 billion! Abu Dhabi's MGX creates one of the largest AI funds in history, doubling down on investments in models and computing power.

MGX has raised $49 billion for a fund specifically for artificial intelligence trading, surpassing the $45 billion target.

Exports exceeding 40 million barrels, prices surged by 20%! Iran's crude oil "unblocked" returns to the market, strait tolls a three-way struggle.

With the temporary ceasefire and memorandum of understanding between the United States and Iran gradually being implemented, Iranian crude oil, once blocked by war, is making a comeback to the market at a faster pace than expected.

18A unprofitable biotech company in Hong Kong conducted an IPO: 11 companies listed in the first half of the year, raising a total of 12.486 billion Hong Kong dollars.

In the first half of 2026, 11 newly listed "biotechnology companies without profits" raised HK$12.486 billion.

Summary of 18C Technology Company's Hong Kong IPO: 13 companies listed in the first half of the year, raising a total of HK$29.823 billion.

In the first half of 2026, there were 13 newly listed special technology companies, raising a total of 29.823 billion Hong Kong dollars. This accounted for 14.9% of the total number of new stocks (87) and 14.2% of the total IPO fundraising amount (210.195 billion).

A-share market closing review | Index differentiation, Shanghai index rising, major financial stocks and other "old listed stocks" all exploded, market style clearly transformed

On July 1st, the three major A-share indexes experienced mixed fluctuations, with the ChiNext Index and the ChiNext 50 Index showing volatile adjustments. The Huang Bai Line showed significant differentiation, with the performance of weighted stocks being relatively weak.

Hong Kong Real Estate: In the first half of the year, the number of registrations for second-hand high-end properties in Hong Kong reached 10,854, reaching a new high in 4 years.

In the first half of 2026, there were over 5 to 10 million Hong Kong dollars of second-hand residential properties transacted, with a total of 10,854 registrations, representing an increase of about 32% from the second half of 2025, which had 8,220 registrations and reaching a 4-year high.

Microsoft Corporation (MSFT.US) is considering another round of layoffs! "AI is changing everything" is sweeping through business operations, as budget for computing power infrastructure accelerates to replace manpower.

According to media reports, Microsoft is planning a new round of layoffs that will affect approximately 2.5% of its total employees.

Latest

8 m ago

LME copper fell by $76 to $13,298 per ton. LME aluminum fell by $10 to $3,076 per ton. LME zinc fell by $52 to $3,499 per ton. LME lead fell by $10 to $1,866 per ton. LME nickel rose by $68 to $16,355 per ton. LME tin rose by $62 to $51,632 per ton. LME cobalt remained unchanged at $56,290 per ton.

13 m ago

The Atlanta Fed's GDPNow model has lowered its forecast for the actual GDP growth rate for the second quarter from 2.5% to 1.2%.

13 m ago

Stellantis Group's total sales in June increased by 10% year-on-year, with the company selling 634,187 cars in the United States in the first half of the year.

21 m ago

President Trump has posted on social media that "Micron Technology (MU.O), a truly great American company and one of the 'hottest' companies globally, has announced a historic $250 million investment in the Trump account. This incredible move by Micron's outstanding CEO Sanjay Mehrotra will bring immense joy to many children in the near future. This is the largest corporate investment of its kind and will help kickstart the American Dream for these exceptional children as we celebrate America's 250th anniversary! This massive investment will help millions of American children and families get a solid start in life and provide them with true financial security. Micron is directly investing in American workers and families! This is the purpose of successful Trump accounts - to give every American child a chance to start and a real opportunity for success. My policies are working and 'greatly successful'. Our country is better than any other in the world, and companies like Micron prove this every day. This is America's golden age!"

23 m ago

According to the U.S. Securities and Exchange Commission (SEC) filing, Exxon Mobil (XOM.N) will complete its corporate domicile change and restructuring on July 1, 2026, and will be listed on the New York Stock Exchange starting on July 2, 2026, with the stock symbol XOM.

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