GMT EIGHT - OPPORTUNITIES IN CHINA

ITC Properties (00199) acquires a land parcel in Nantong, Jiangsu worth 2 billion RMB, planning to develop a green smart computing center and related businesses.

ITC Properties Group Limited (00199) has announced that on July 2, 2026 (after trading hours), ITC Strategic Holding, a wholly-owned subsidiary, has entered into an agreement with Profit Tycoon, whereby: (a) ITC Strategic Holding (as the buyer) has conditionally agreed to acquire, and Profit Tycoon (as the seller) has conditionally agreed to sell, the shares for sale.

US Stock Market Move | The pharmaceutical sector received another round of capital switching, with GlaxoSmithKline plc Sponsored ADR (GSK.US) rising nearly 5%.

On Thursday, the pharmaceutical sector once again received capital switching.

A-share evening hot spots | Unisoc Technology's IPO registration approved A-share "Siasun Robot&Automation first stock" is coming?

On July 2nd, according to the website of the China Securities Regulatory Commission, the Commission approved the initial public offering of shares by Yushu Technology Co., Ltd. and its registration application to be listed on the science and technology innovation board.

San Francisco Fed President Daly: US inflation expected to gradually fall, economic outlook still remains highly uncertain.

Daley said at an event held in Santander, Spain on Thursday that the current monetary policy of the Federal Reserve is still at a slightly restrictive level, which will help push inflation gradually lower.

US Stock Market Move | Most popular Chinese concept stocks fell, with Xpeng Group (XPEV.US) dropping nearly 5%.

On Thursday, most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index dropping by 1%.

US Stock Market Move | AeroVironment (AVAV.US) rose nearly 10% in early trading after winning a $500 million contract from the US Department of Defense.

On Thursday, AeroVironment (AVAV.US) surged nearly 10% in early trading, marking a 35% increase over the past three trading days, and is now trading at $188.42.

US Stock Market Move | Semiconductor equipment stocks continue to decline, with Lam Research Corporation (LRCX.US) falling more than 15% in two days.

On Thursday, semiconductor equipment stocks in the US stock market continued their decline, with a consecutive two-day large drop. Lam Research Corporation (LRCX.US) fell over 7%, with a cumulative drop of over 15% over the two days.

Positive on servers and wafer fabrication business, HSBC doubled its target price for Intel Corporation (INTC.US) to $200.

HSBC has significantly increased Intel's target price from $100 to $200, setting the highest target price on Wall Street and reaffirming a "buy" rating.

US Stock Market Move | Meta Platforms (META.US) fell nearly 4% in early trading after rising 9% the previous day.

On Thursday, Meta Platforms (META.US) fell nearly 4% in early trading, after the company's stock price soared 9% on Wednesday, marking its best single-day performance in over a year.

US Stock Market Move | Storage concept stocks are down, with Sandisk (SNDK.US) falling by 6% in widening percentage.

On Thursday, US stocks in the storage concept sector fell, with SanDisk's stock price opening lower, dropping more than 6% as of the time of writing.

US Stock Market Move | Q2 deliveries exceeded expectations but the market is concerned about new businesses such as AI. Tesla, Inc. (TSLA.US) fell nearly 4%.

On Thursday, Tesla (TSLA.US) opened slightly higher before quickly plunging, now down nearly 4%, marking a drop of almost 9% for the year.

Microsoft Corporation (MSFT.US) invests $2.5 billion to establish a new department, enhancing enterprise AI deployment services.

Microsoft announced that it will invest $25 billion to establish a new operating business division called Microsoft Frontier Company.

US Stock Market Move | Apple Inc. (AAPL.US) rises by over 3% with expectations of increased stockpiles for the first foldable screen iPhone.

On Thursday, Apple (AAPL.US) stocks opened high and continued to rise, with an increase of over 3% as of the time of writing.

US Stock Market Move | Space concept stocks opened higher Rocket Lab (RKLB.US) rose nearly 7%

On Thursday, space concept stocks opened higher.

US Stock Market Move | Raise full-year sales outlook, electric car company Rivian (RIVN.US) up more than 12%.

On Thursday, the stock price of the American electric vehicle company Rivian (RIVN.US) surged significantly, with an increase of 12.1% as of press time.

US Stock Market Move | Gold sector leads with Coeur Mining, Inc. (CDE.US) up over 8% at the opening.

On Thursday, the gold sector opened to lead the gains.

Low-cost SUV R2 starts delivery! Rivian (RIVN.US) exceeds expectations in production and sales, raising annual delivery targets.

Rivian Automotive (RIVN.US) raised its full-year sales outlook, as the electric car manufacturer has started delivering the SUV model seen as a key to the company's future with lower costs.

US Stock Market Move | The concept stock of encrypted currency continued to rise, Strategy (MSTR.US) surged more than 8%.

On Thursday, the concept stocks of cryptocurrencies continued the upward trend from yesterday, rising significantly for two consecutive days.

480,000 vehicles! Tesla, Inc. (TSLA.US) Q2 delivery volume increased by 25% year-on-year, far exceeding expectations. European demand rebounded and the low-price strategy paid off.

Tesla released its second-quarter delivery data on Thursday, with deliveries reaching 480,100 vehicles, a 25% year-on-year increase, far exceeding market expectations.

"Muscle show" before listing in the United States: SK Hynix (SKHY.US) cancels the long-term price ceiling, can it conquer Wall Street with absolute pricing power?

According to knowledgeable sources, SK Hynix is currently cancelling the price cap in the long-term agreements (LTAs) recently signed with customers.

AI computing power theme is gaining momentum for a major counterattack! Non-farm payrolls only increased by 57,000, far below expectations. Has the hawkish narrative of the Federal Reserve been severely damaged?

Despite the decline in the unemployment rate, the pace of hiring in the United States sharply slowed in June, dampening the initial momentum of job growth this year. Data released by the US Bureau of Labor Statistics on Thursday showed that nonfarm payrolls increased by 57,000 last month, with the previous two months' data being revised downward, weakening the positive impact of recent strong data. The unemployment rate fell to 4.2%, with a significant decrease in the labor force participation rate.

"New cloud" model faces new challenges! Meta (META.US) "from sponsor to competitor" CoreWeave (CRWV.US) bond falls for two days raising doubts.

The bond issued by CoreWeave (CRWV.US), an AI infrastructure company, fell for the second consecutive day last month. This was due to reports that Meta Platforms (META.US) is planning to build its own cloud computing business, putting pressure on its stock price and bonds.

Saudi oil exports approaching pre-war levels, resumption of traffic in the Strait of Hormuz impacting the Fed's hawkish path.

Since the blockade of the Strait of Hormuz during the Iran-Iraq war, Saudi Arabia has exported the most oil from the Persian Gulf, as producers increased oil exports after reaching a temporary peace agreement between Washington and Tehran. On Thursday, four super oil tankers carrying approximately 8 million barrels of crude oil loaded at the Saudi Arabian main export hub of Ras Tanura Port appeared in the Gulf of Oman.

The trader has fully priced in a December rate hike by the Federal Reserve, after the market was expecting one in October.

Selected A-share announcements | Multiple stocks' interim performance expected to be positive. Qinghai Yanhu Industry, with a market value of over one hundred billion yuan, is expected to increase its net profit by 143%.

Yanhu shares expects a net profit of 6 to 6.3 billion yuan in the first half of the year, a year-on-year growth of 131.38% to 142.95%.

Spot silver rose 4% intraday, now trading at $61.49 per ounce.

Is it about competition or profits? Paramount Skydance's (PSKY.US) $10 billion merger case is being intervened by the UK, may be approved in exchange for promises.

The UK threatens to intervene in the $110 billion deal between Pasky US and Warner Bros. Exploration US, but its intention may not be to prevent the deal.

Preview of US Stock Market | Three major stock index futures rise together, Wall Street diminishes worries about "excess computing power", and the US June nonfarm payroll will debut tonight.

On July 2nd (Thursday), before the market opened, futures for the three major US stock indexes all rose.

The Dow and S&P both turned higher, with Dow Jones Industrial Average futures up 0.12% and S&P 500 futures up 0.08%.

The Hong Kong Monetary Authority injected HK$634 million liquidity into banks through discount window.

On July 2, the Hong Kong Monetary Authority injected HK$634 million in liquidity through the discount window to banks.

Industrial: How much of a pullback in tech stocks will the external rental and sales of computing power by Meta (META.US) cause?

Meta announced to rent/sell computing power externally, triggering concerns about the slowdown in computing power demand, which led to a global technology stock adjustment once again.

Hong Kong Monetary Authority: The total amount of the RMB Bond Connect scheme doubles to 200 billion yuan, with 40 participating banks now covering 11 countries.

Chen Weimin, Deputy Governor of the Hong Kong Monetary Authority, pointed out that in recent years, the proportion of settlements in renminbi in international trade on the mainland has significantly increased, with some months accounting for about 30%.

From interest rate game to institutional game: Senator calls for halt to Waller reform, regional Fed power struggle may trigger severe market volatility.

Senator Elizabeth Warren has asked Federal Reserve Board member Christopher Waller to stop his efforts to reform the operations of the Federal Reserve's regional branches, stating that his proposal appears to be in conflict with federal law. Warren believes Waller's proposal could weaken the independence of the central bank and is seen as an attempt to please President Trump. President Trump hopes to gain greater influence over the selection of regional Federal Reserve Bank presidents.

The quiet period has been lifted! 22 investment banks will collectively "open the microphone" next week, and SpaceX's $2 trillion valuation exam is coming.

Starting from next Tuesday, investors are expected to receive a large number of research reports, target prices, and performance growth forecasts regarding SpaceX. This information will help investors clarify the potential trends of the stock in the short term and in the coming years.

Meta "bringing down" technology stocks? Industry insiders: Misunderstanding of excessive computing power!

On July 2nd, A-share technology stocks plummeted, with sectors such as semiconductors, computing power hardware, and storage chips experiencing significant declines. Taking the "Star Market," where technology stocks are concentrated, as an example, the ChiNext Index and the Science and Technology Innovation Board Index fell by 5.71% and 5.64% respectively. From the market perspective, the sharp drop in A-share technology stocks was attributed to Meta's announcement of selling computing power, which was interpreted by the market as an excess of computing power. However, many industry insiders believe that this interpretation is a misunderstanding, as Meta's sale of computing power does not signify the end of AI capital expenditures, but rather indicates the maturity of the AI infrastructure business model.

Transaction notice: The US stock market will be closed for one day on Friday for Independence Day holiday.

Due to the Fourth of July holiday in the United States on July 3, the US stock market will be closed for the day on Friday, July 3.

Is the expectation of a rate hike peaking? Three major investment banks are against the trend and bearish on the US dollar, non-US currencies may see a "turning point".

Currency strategists from institutions such as the French Agricultural Credit Bank, Morgan Stanley, and TD Securities are going against the market's common expectation of a strengthening US dollar.

Northbound funds | Northbound trading saw a net sell of 1.974 billion, with domestic investors selling off chip and PCB concepts while adding nearly 400 million Hong Kong dollars to UBTECH ROBOTICS (09880) throughout the day.

On July 2nd, the Hong Kong stock market saw a net selling of 1.974 billion Hong Kong dollars by the northbound investors. Among them, the Hong Kong Stock Connect (Shanghai) recorded a net buying of 2.277 billion Hong Kong dollars, while the Hong Kong Stock Connect (Shenzhen) saw a net selling of 4.251 billion Hong Kong dollars.

Softbank is aiming to dominate the American AI cloud market with a scale of 10GW! Both Son Masayoshi and Mark Zuckerberg want to turn unused GPUs into cash flow. Is the surplus AI computing power finally being put to practical use?

SoftBank Group and its telecommunications department will begin leasing cloud artificial intelligence computing resources to American companies on a large scale starting from the next fiscal year through SB Neo Inc. The new cloud project plans to provide 10 gigawatts of data center capacity by around 2030, for the training and inference of large-scale artificial intelligence models.

At the time of the sharp fall in Japanese stocks, foreign capital is frantically fleeing with 1.24 trillion yen. Japanese individual investors are setting a record by purchasing 950 billion yen as they "catch falling knives".

Last week, when Japanese technology stocks suffered a sell-off and major stock indexes plummeted, Japanese individual investors went against the trend and heavily bought local stocks, with trading volume reaching a historic high.

Final verdict of 4.1 billion euros! The European Union's highest court rejected the appeal, Alphabet Inc. Class C (GOOGL.US) lost the 8-year Android antitrust battle.

Google ultimately lost in a long-running lawsuit against the European Union's 4.1 billion euro (approximately 4.7 billion US dollars) antitrust fine.

The State Council approves the "National Sports Power Construction 15th Five-Year Plan".

The State Council approved the "National Sports Power Construction 15th Five-Year Plan", anchoring the goal of building a sports powerhouse, improving the public service system for national fitness, reforming and improving the management system and operation mechanism of competitive sports, strengthening youth sports work, promoting the revitalization and development of major ball games, accelerating the improvement of the quality, capacity, and level of the sports industry, vigorously promoting the spirit of Chinese sports, deepening exchanges and cooperation in the field of sports, enhancing the support capacity for sports development, continuously improving the satisfaction of the people with sports work and the contribution of sports work to economic and social development, and composing a new chapter in the accelerated construction of a sports powerhouse in the process of Chinese-style modernization.

New Stock News: Liding Technology submits applications to the Hong Kong Stock Exchange, its main business includes FCCSP, WBCSP, and module carriers.

According to the Hong Kong Stock Exchange disclosure on July 2nd, LEDing Optoelectronics Technology (Shenzhen) Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange.

Loan institutions are cautious in handling AI-related assets. SoftBank restarts $10 billion OpenAI equity collateral loan negotiations.

According to two informed sources, due to the difficulty of valuing private companies, SoftBank's previous plan for a $100 billion loan was once put on hold. Now the group is once again in negotiations with a consortium of lending institutions, planning to use its stake in OpenAI as collateral to apply for a total loan of $10 billion.

The total sales value of the retail industry in Hong Kong in May is temporarily estimated to be HK$33.8 billion, an increase of 7.9% compared to the same period last year.

The provisional estimate of the total retail sales value in May 2026 was 33.8 billion Hong Kong dollars, an increase of 7.9% compared to the same month in 2025.

The US dollar falls below the 101 level.

The US dollar index (DXY) continued to decline intraday, falling below the 101 level and now down 0.4%.

Chen Maobo: Hong Kong's asset wealth management scale reaches a new high, demonstrating its leading position as a global cross-border wealth management hub.

Hong Kong Financial Secretary Paul Chan said that one of the main reasons is the strong net capital inflow, with a net inflow of HK$2.1 trillion last year, an increase of 193% year-on-year, marking a net inflow for the third consecutive year.

New Stock News | LD Technology Submits Application to Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on July 2nd, G-LINK Semiconductor Technology (Shenzhen) Co., Ltd. has submitted an application to list on the main board of the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor.

The AI super bull market enters the "stress test" phase! As the stock and exchange rates of Japan and South Korea diverge to an extreme extent, record leverage will push AI semiconductors towards the eye of the stock market storm.

The AI super bull market that has swept global stock markets appears to be transitioning from "fundamental expansion trading" to a systematic stress testing stage involving "currency macro exchange rate pressure related to AI computing power chains in Japan and South Korea + leveraged market structures + record-high position crowding".

The Guggenheim Against the Trend: Salesforce, Inc. (CRM.US) valuation is wrongly killed by "SaaS Doomsday," AI is pressure rather than a death knell.

Investment bank Goldman Sachs recently upgraded the stock rating of the company from "Neutral" to "Buy", while pointing out that "AI will bring pressure to the company, but will not destroy it."

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Blackstone Group's QTS has abandoned a large data center in Virginia.

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Brent crude oil futures reversed their declines, trading above $71.58 per barrel.

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