GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | U.S. large bank stocks rose. Morgan Stanley (MS.US) rose more than 2.6%.

American large bank stocks are rising.

US Stock Market Move | "On completion of exceeding $1.6 billion in funding, SharonAI Holdings (SHAZ.US) surged over 12% to expand the AI factory."

On Wednesday, SharonAI Holdings (SHAZ.US) surged more than 12% in early trading, hitting a new high since its IPO, and is now trading at $85.98.

The U.S. property market sees signs of recovery as the pending home sales index for May reaches its highest level in nearly six months.

The data shows that the pending home sales index in the United States increased by 3.8% in May, rising to 76.8. This is the fourth consecutive month of increase and the highest level in nearly six months.

A-share evening hot spot | Milestone! The 5 trillion ETF market welcomes a major event

On June 17th, the Chairman of the China Securities Regulatory Commission, Wu Qing, announced at the Lujiazui Forum the support for launching active ETFs on the stock exchange.

US Stock Market Move | The news that the SEC is considering allowing the tokenization of Robinhood's stock (HOOD.US) caused it to surge over 8%.

On Wednesday, Robinhood (HOOD.US) rose more than 8% in early trading, up 50% since the April low, now trading at $105.38.

US Stock Market Move | CME Group Inc. Class A (CME.US) fell more than 3% as CEO will step down next year to transition to executive chairman.

On Wednesday, the Chicago Mercantile Exchange (CME.US) opened lower, with the intraday decline reaching nearly 6%, and as of the time of writing, it had fallen 3.3%.

US Stock Market Move | "NVIDIA Corporation's challenger" Cerebras (CBRS.US) rose more than 5% in early trading as Wall Street was collectively bullish before.

On Wednesday, with the strength of semiconductor concept stocks, "NVIDIA challenger" Cerebras (CBRS.US) rose more than 5% at the beginning of the trading session. However, the stock price has fallen by 36% since its listing, now trading at $224.64, with a market value of less than $50 billion.

The era of intelligent embodiment of AI will ignite enormous demand for CPUs. Bernstein significantly raises the target price of Intel Corporation (INTC.US) and Arm (ARM.US).

Bernstein's latest research report states that the intelligentization of AI will significantly increase the demand for CPUs in data centers. Therefore, the global server CPU market size for 2030 is forecasted to be raised from $137 billion to $223 billion.

US Stock Market Move | Optical communication concept stocks collectively rose, Marvell Technology, Inc. (MRVL.US) up more than 4%

On Wednesday, U.S. stocks in the optical communication sector rallied collectively, with Marvell Technology Group Ltd. (MRVL.US) rising over 4%.

US Stock Market Move | SpaceX's (SPCX.US) decline expanded to 3% as bearish investor Burry questions the nearly $3 trillion valuation.

On Wednesday, SpaceX (SPCX.US) fell intraday, after briefly rising over 5%, with the current decline expanding to 3%, trading at $197.05.

US Stock Market Move | BlueBird communication satellite successfully launched into orbit, AST SpaceMobile (ASTS.US) surged nearly 8% in intraday trading.

On Wednesday, AST SpaceMobile (ASTS.US) opened with a significant increase, with the intraday rise reaching nearly 8%. As of the time of writing, the increase has narrowed to around 4%.

Before Fed Powell's debut, the market removed its hedge: the AI computing power industry chain became the only consensus in the second half of 2026.

As the risk premium of Iran war fades away, traders are unanimously restarting the extremely popular trading themes dominated by short-term US bonds, Asian currencies, and the AI computing power industry chain before the war. The AI computing power industry chain led by Nvidia, AMD, ARM, SK Hynix, and Micron is undoubtedly the strongest investment trend in the pre-war trading script.

Huang Renxun: AI will usher in a new industrial revolution, but the severely lagging energy production capacity in the United States may become a constraint.

NVIDIA CEO Huang Renxun said that artificial intelligence is expected to drive a new wave of manufacturing and industrial growth in the United States, but if the United States wants to maintain its leading position in the global AI competition, it must significantly increase its energy supply capacity.

US Stock Market Move | Semiconductor equipment sector is strong, Applied Materials (AMKR.US) rises over 7%.

On Wednesday, the overall performance of the semiconductor equipment sector in the US stock market showed strength. Aehr Test Systems (AEHR.US) surged by over 13%, Applied Materials (AMAT.US) and Amkor Technology (AMKR.US) both rose by over 7%.

US Stock Market Move | Storage concept opened higher Western Digital Corporation (WDC.US) rose more than 4%

On Wednesday, the stock of Storage Concepts opened higher.

US Stock Market Move | 18A-P process node enters the risk production stage, Intel Corporation (INTC.US) surged more than 4% at the beginning of trading.

On Wednesday, the star technology stocks in US stocks opened higher, with Intel (INTC.US) opening up more than 4%, and as of the time of writing, it has increased by 2.38%.

US Stock Market Move | SpaceX (SPCX.US) rose more than 4%, with a nearly 50% increase since its listing. Duang Yongping said a valuation of 3 trillion yuan is not unreasonable.

On Wednesday, SpaceX opened up over 4%, with the rise continuing to the fourth trading day. Since its listing last Friday, the cumulative increase has been close to 50%, with a total market value of $2.73 trillion, making it the sixth largest publicly traded company in the world.

Gasoline prices soaring fail to curb consumer enthusiasm! US May retail sales rose 0.9% month-on-month, marking the fourth consecutive month of growth.

Data released by the US Census Bureau on Wednesday showed that retail sales in May (not adjusted for inflation) increased by 0.9% compared to the previous month, marking the fourth consecutive month of growth and far exceeding market expectations of 0.5%.

The demand for NAND structure is being driven by AI smart bodies! Citibank raises the target prices for Applied Materials (AMAT.US), Lam Research Corporation (LRCX.US), and KLA Corporation (KLAC.US).

Citibank raised the target price of semiconductor equipment manufacturers Applied Materials (AMAT.US), Lam Research Corporation (LRCX.US), and KLA Corporation (KLAC.US), and expressed strong optimism about the demand outlook for NAND devices.

American Connection: Economic improvement leads to a thriving buy-to-rent market in Hong Kong, with residential registration reaching a 15-year high.

On the 29th anniversary of Hong Kong's return, both residential registration and overall property registration have reached new highs, highlighting the stable and positive direction of the property market in Hong Kong. At the same time, the rental market remains hot, with rents breaking records for 5 consecutive months. With the traditional peak rental season approaching, continued economic improvement, and increased household incomes in private residences, it is expected that rents will continue to rise steadily in the coming months. This will provide a more stable foundation for market development, and it is believed that the Hong Kong property market will continue on its current healthy trajectory of both buying and renting being strong.

FSMOne: The Fed's current interest rate cut cycle has ended, and the Hang Seng Index's target price for next year is around 27,000 points.

FSMOne (Hong Kong) General Manager Chan Ka Long pointed out at a press conference that based on a target price-to-earnings ratio of 11 times, the target prices for the Hang Seng Index at the end of this year, 2027, and 2028 are close to 25,000 points, approximately 27,000 points, and 29,000 points respectively.

DRAM supply and demand imbalance may continue until 2028. Deutsche Bank and TD Cowen both raised their target price for Micron Technology (MU.US) to $1500.

Before Micron (MU.US) released its third-quarter earnings report, Deutsche Bank maintained its "buy" rating on the company and significantly raised its target price from $1000 to $1500.

Domestic futures night trading begins

Urea rose by 3.85% consecutively, live pigs fell by 2.16% consecutively, low-sulfur fuel oil rose by 1.63% consecutively, the European shipping index futures fell by 1.61% consecutively, and butadiene rubber fell by 1.47% consecutively.

Total (TTE.US) CEO testified before Congress: Q1 oil trading profits doubled to $1 billion due to Iran war, Saudi refinery to be fully repaired early next year.

The CEO of Total stated that the company's first-quarter oil trading profit doubled to about $1 billion year-on-year. At the same time, he disclosed that its joint venture refinery in Saudi Arabia has been attacked by drones, currently only operating at 70% capacity, and full restoration is not expected until early 2027. He also warned that if Qatar's liquefied natural gas supply cannot be restarted, the drop in European gas prices during the winter will be much smaller than that of oil prices.

Selected Stock Announcements | China Shenhua Energy (601088.SH) coal sales in May increased by nearly 12% year-on-year, Chairman and CFO of Xinjiang Zhundong Petroleum Technology (002207.SZ) resign.

According to the announcement of the China Construction, the total amount of new contracts signed from January to May 2026 was 1.8082 trillion yuan, a year-on-year decrease of 1.8%. Among them, the amount of new contracts signed in the construction business was 1.6767 trillion yuan, a year-on-year decrease of 2.0%; the amount for residential construction was 1.1399 trillion yuan, a year-on-year increase of 2.5%; infrastructure was 0.5323 trillion yuan, a year-on-year decrease of 10.4%; survey and design were 0.45 trillion yuan, a year-on-year decrease of 8.7%. The amount signed domestically was 1.5695 trillion yuan, a year-on-year decrease of 3.9%, while the amount signed overseas was 0.1072 trillion yuan, a year-on-year increase of 36.8%.

New Stock News | Jiangsu Boqian New Materials Stock(605376.SH) submitted an application to the Hong Kong Stock Exchange, ranking second among global suppliers of nickel powder for MLCCs.

According to the disclosure of the Hong Kong Stock Exchange on June 17th, Jiangsu Boqian New Materials Co., Ltd. (referred to as Boqian New Materials, 605376.SH) submitted an application to the Hong Kong Stock Exchange Main Board, with Guotai Junan International as its exclusive sponsor.

Chen Maobo: Shanghai and Hong Kong are complementary and synergistic, and work together to open up the entire financing chain and promote the internationalization of the Renminbi.

In the "15th Five-Year Plan", the country for the first time clearly proposed to accelerate the construction of a strong financial country, pointing out a common mission for Shanghai and Hong Kong. Faced with a complex geopolitical environment and a new round of technological revolution, international investors' demand for diversified asset allocation is increasing day by day. Shanghai and Hong Kong should leverage their complementary strengths and collaborate to jointly serve the country's high-level two-way opening up.

Stellantis (STLA.US), Uber Technologies, Inc. (UBER.US) and the self-driving unicorn Wayve have formed an L4 alliance, sparking a new trend of collaboration in the American robotaxi market.

Automobile giant Stellantis (STLA.US), autonomous driving company Wayve, and ride-hailing platform Uber (UBER.US) are collaborating to jointly develop and deploy Level 4 autonomous driving travel services.

Satellite internet is making waves again! AST SpaceMobile (ASTS.US) ignites the commercial prospects of "low-orbit direct connect phones" with the launch of BlueBird.

AST SpaceMobile clearly benefited from the commercial space frenzy sparked by SpaceX's record-breaking IPO, but its rise is not just "riding on the coattails of SpaceX", but is driven by the fundamental catalyst of its own satellite deployment entering a scalable stage.

Preview of US Stock Market | The three major stock index futures rose and fell unevenly, and the Federal Reserve interest rate decision will strike tonight.

Before the US stock market opened on Wednesday, June 17th, the futures of the three major US stock indexes were mixed.

New Stock News | Jiangsu Boqian New Materials Stock (605376.SH) submits application to Hong Kong Stock Exchange.

According to the disclosure on June 17 by the Hong Kong Stock Exchange, Jiangsu Boqian New Materials Co., Ltd. (referred to as Boqian New Materials, 605376.SH) has submitted an application to the Hong Kong Stock Exchange main board, with Guotai Junan International as its exclusive sponsor.

New stock news | Rongxin Shulian delivered a submission to the Hong Kong Stock Exchange, ranking first in China's data-driven decision intelligence application industry.

Based on income, by 2025, the company ranks ninth in the decision intelligence application industry in China, with a market share of approximately 1.3%. The group ranks first in the data-driven decision intelligence application industry in China, with a market share of approximately 10.5%.

Ministry of Industry and Information Technology: Deeply implement special action of "artificial intelligence + manufacturing", deeply rectify "overlapping" competition.

On June 17th, Vice Minister of Industry and Information Technology Xin Guobin presided over a discussion and exchange activity on the industrial economy operation in Beijing with officials from some provinces.

Pharmaceutical giants like Pfizer Inc. (PFE.US) are copying the "UK script" by withdrawing investment to pressure Germany and force Europe to relax drug price controls.

Faced with resistance from the capitals of various European countries on drug pricing, global pharmaceutical companies are using an "old script": threatening to withdraw investments and expansion plans to pressure policymakers.

New stock news | Juhui Catering delivers to Hong Kong Stock Exchange as China's largest third-party supplier of customized Chinese compound condiments.

According to the disclosure on June 17 by the Hong Kong Stock Exchange, Juhui Food Technology Co., Ltd. (referred to as Juhui Catering) submitted its application to the Hong Kong Stock Exchange Main Board, with CITIC Securities International as its exclusive sponsor.

Quarterly cash consumption exceeds half of revenue! OpenAI's performance reveals the explosive trend of enterprise AI applications, also exposing the heavy pressure of computing costs.

The strong revenue growth data of OpenAI highlights the explosive global demand for AI applications, but the business model of leading AI large models companies has entered a heavy capital AI arms race stage characterized by strong revenue growth, high capital consumption, and high depreciation pressure.

British regulatory agency introduces new regulations on Alphabet Inc. Class C (GOOGL.US) searches aimed at promoting market competition.

The UK competition watchdog has ordered Google to provide greater transparency on its search ranking mechanisms, as part of a series of new requirements aimed at securing "fairer treatment" for businesses and users, and improving the quality of service of the American tech giant in the UK.

New stock news | Rongxin Shulian submits listing documents to Hong Kong Stock Exchange

This company is one of the first companies in China to establish a data intelligence graph based on ontology mapping technology. This technology can significantly enhance data interpretability. The company is also one of the first companies to successfully apply this technology to complex decision-making intelligent scenarios for government and private enterprise clients and commercialize it.

New Stock News | Juhui Restaurant Submits Application to Hong Kong Stock Exchange

According to the disclosure on June 17 by the Hong Kong Stock Exchange, Ju Hui Food Technology Co., Ltd. (referred to as Ju Hui Kitchen) has submitted an application to the main board of the Hong Kong Stock Exchange, with CITIC Securities International acting as its exclusive sponsor.

Northbound funds | "Be Water achieved a net selling of 3.222 billion in KB LAMINATES (01888) and raised prices for the fifth time this year. Be Water aggressively acquired more than 3.8 billion Hong Kong dollars throughout the day."

On June 17th, the Hong Kong stock market saw a net sell of 3.222 billion Hong Kong dollars by Northbound investors. Among them, the net sell of Hong Kong Connect (Shanghai) was 1.037 billion Hong Kong dollars, and the net sell of Hong Kong Connect (Shenzhen) was 2.185 billion Hong Kong dollars.

Hong Kong Securities and Futures Commission: Seeks acquisition order against former chairman Wu Yu of TARGET INS, involving embezzlement of over 1.5 billion US dollars.

The Hong Kong Securities and Futures Commission alleged that Wu Yu was involved in a fraudulent scheme with the intention of misappropriating all or part of the funds.

Southbound funds sold a net of 3.222 billion yuan today. In terms of the Shanghai-Hong Kong Stock Connect, CNOOC and Alibaba-W were net sold for 1.437 billion yuan and 0.746 billion yuan respectively; Jiantao Group had the highest net buying amount of 1.488 billion yuan; In terms of the Shenzhen-Hong Kong Stock Connect, Alibaba-W and Tencent were net sold for 1.339 billion yuan and 1.045 billion yuan respectively; Jiantao laminated board had the highest net buying amount of 2.692 billion yuan.

Chen Yiting: Hong Kong Stock Exchange's new share financing amount exceeded HK$160 billion in the first five months of this year.

Between January and May this year, the Hong Kong Stock Exchange welcomed over 60 new listed companies, with a total new stock financing amount of HK$166.8 billion, an increase of HK$11 billion compared to the same period last year.

UK May CPI stabilization triggers cooling rate hike expectations: UK bonds welcome five consecutive gains, with the 10-year yield hitting a two-month low.

In May, the overall CPI in the UK rose by 2.8% year-on-year, unchanged from April, and lower than the economists' expected 3%.

The State Administration for Market Regulation seeks public opinions on the "Ten Rules for Regulating Subsidies by Food Delivery Platforms."

The Anti-Monopoly and Anti-Unfair Competition Office of the State Council has conducted a survey and evaluation of the market competition situation in the food delivery industry and found that food delivery platforms in China are taking advantage of capital superiority to seize market share, coercing operators within the platform to participate in subsidies, and causing irrational competition within the industry. It is urgent to regulate the subsidy behavior of food delivery platforms, guide them to operate in compliance with laws and regulations, and promote fair competition.

Demand disrupted by war, supply set to surge! IEA warns: Oil market will slide towards "significant oversupply" by 2027.

The International Energy Agency (IEA) released a report on Wednesday stating that the oil supply shock triggered by the Iran war has partially weakened global crude oil demand. If the conflict can be resolved lastingly, the supply may rebound significantly, potentially leading to a significant oil surplus situation next year.

Financial Regulatory Bureau: Supporting commercial banks to participate in the offshore bond business in Pudong New Area to promote the development of offshore financial services in Shanghai.

On June 17, the China Banking and Insurance Regulatory Commission promoted the implementation of relevant measures on the "Action Plan to Support the Construction of the Shanghai International Financial Center".

Toyota (TM.US) shareholders fully support President Zhang and the new CEO: AI, Siasun Robot & Automation, and the hybrid strategy will not hit the brakes.

Toyota Motor Corporation (TM.US) shareholders voted on Tuesday in favor of nominating Takeshi Uchiyamada to continue serving as chairman and supported the appointment of Kenichiro Kondo as a new CEO to join the board of directors.

Ministry of Transportation: The online car-hailing supervisory information exchange system received a total of 977 million orders in May.

The online car-hailing regulatory information exchange system released the basic operation situation of the car-hailing industry in May 2026.

Qiu Yong, from the Shanghai Stock Exchange: Strengthen risk monitoring and early warning prediction, make full efforts to stabilize the market.

On June 17, at the 2026 Lujiazui Forum "Plenary Session III: Establishing a Sound and Efficient Capital Market", Qiu Yong, Chairman of the Shanghai Stock Exchange, stated that the next step for the exchange will be to accurately and efficiently control risks, solidify the foundation of the capital market stability. Strengthen risk monitoring and early warning predictions, make every effort to stabilize the market, timely promote the implementation of counter-cyclical adjustment mechanisms, and enhance risk response capabilities. Supervise and guide listed companies to improve quality, governance level, and return to investors, forming a concerted effort in the market with stable expectations and confidence. Improve the expectation management mechanism, strengthen propaganda and guidance, strive to consolidate market consensus, and create a good environment for deepening reform.

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