GMT EIGHT - OPPORTUNITIES IN CHINA

In 2026, the box office of the new film released during the Dragon Boat Festival period exceeded 200 million yuan.

In 2026, the total box office revenue of the new films released during the Dragon Boat Festival holiday exceeded 200 million yuan, including advance screenings and pre-sales.

Cui Dongshu: China's automobile exports increased by 50% from January to May, while exports of fuel motorcycles slowed down due to high fuel prices.

China's automobile exports reached $73.6 billion in the first five months of 2026, an increase of 50%. In May, automobile exports were $16.7 billion, representing a 39% increase. The Chinese automobile industry is showing strong vitality.

"The tightest bottleneck in AI!" The impact of storage has expanded to the macro economy, exacerbating overall inflation.

Deutsche Bank believes that the structural demand for high-bandwidth memory (HBM) from AI is crazily crowding out traditional capacity, and the supply gap is difficult to close before 2027. Soaring storage costs have spread to end markets such as consumer electronics and automobiles, pushing up overall inflation. The year-on-year increase in the U.S. electronic producer price index reached 26.9%, and the storage crisis is evolving from a chip industry issue to a key macroeconomic variable.

Compared to open source models, cutting-edge models are like luxury handbags! Deutsche Bank: This may lead to the market reevaluating AI.

Deutsche Bank points directly to the most core yet most underestimated structural contradiction in the current AI industry: there is a staggering "cost gap" between proprietary cutting-edge AI models and open-source/open-weight models.

Deutsche Bank "Surrenders to Powell": Will raise interest rates by 50 basis points this year, and may even raise rates early in July.

In its latest research report, Deutsche Bank has comprehensively raised its inflation expectations and completely reversed its previous monetary policy forecasts: it is predicted that the Federal Reserve will raise interest rates twice in 2026 (a total of 50 basis points), pushing the federal funds rate to 4.1%, and not ruling out the possibility of an early rate hike in July.

"New America News Agency": 1996 or 1999? Wash's first test is "how to look at AI"

Nick Timiraos, a journalist known as the "new Fed communications office," said that Powell's primary test as head of the Fed is to determine the nature of AI prosperity: whether it is the production productivity dividend of 1996 (stay put) or the demand overheating of 1999 (need to raise interest rates).

New Stock News | Zhii Biotech filed an application to the Hong Kong Stock Exchange. Its core product SK08 and key product SK10 have achieved multiple research and development milestones.

According to the disclosure of the Hong Kong Stock Exchange on June 18th, Guangzhou Zhiyi Biological Technology Co., Ltd. (referred to as "Zhiyi Biological") submitted its listing application to the main board of the Hong Kong Stock Exchange, with Guotai Junan Securities International and CICC International acting as its joint sponsors.

Republican lawmakers propose banning insider trading in prediction markets, while White House officials are exempt.

This bill explicitly prohibits members of Congress, their spouses, and dependent children from engaging in event contract betting on platforms such as Kalshi and Polymarket related to public policy issues, government actions, and political outcomes (including election results).

New Stock News | Zhiyi Biotech Submits Listing Application to the Hong Kong Stock Exchange

According to the disclosure of the Hong Kong Stock Exchange on June 18, Guangzhou Zhiyi Biotechnology Co., Ltd. (referred to as Zhiyi Biotechnology) has submitted its application to the main board of the Hong Kong Stock Exchange, with Guotai Junan Securities International and CICC being its joint sponsors.

New Stock News | Shenzhen Transsion Holdings Co., Ltd. (688036.SH) has submitted a second listing application to the Hong Kong Stock Exchange. It has a total of five production bases in Chongqing, Shenzhen, and other overseas locations.

According to the disclosure by the Hong Kong Stock Exchange on June 18th, Shenzhen Transsion Holdings Co., Ltd. (referred to as Transsion Holdings (688036.SH)) has submitted an application to the main board of the Hong Kong Stock Exchange, with CITIC Securities as its exclusive sponsor.

New Stocks News | Shiyao Innovation (300765.SZ) Successfully Commercialized Three Antibody Drugs in Hong Kong Exchange for the Second Time

According to the Hong Kong Stock Exchange disclosed on June 18, Shi Pharma Innovations Pharmaceuticals Limited (abbreviated as Shi Pharma Innovations (300765.SZ)) submitted an application to the Hong Kong Stock Exchange main board, with CITIC Securities as its exclusive sponsor. The company had previously submitted an application for listing to the Hong Kong Stock Exchange on December 10, 2025.

The traffic volume of oil tankers in the Hormuz Strait has significantly increased. Gulf oil-producing countries have reopened bidding.

With the ceasefire agreement between the US and Iran taking effect, the previously conflict-ridden Strait of Hormuz, which had been continuously disrupted for the past three and a half months, finally began to restore its original function: continuously exporting oil and fuel.

New stock news | Stone Pharmaceutical Innovation (300765.SZ) is seeking a secondary listing on the Hong Kong Stock Exchange.

According to the disclosure of the Hong Kong Stock Exchange on June 18, Stone Pharmaceuticals Limited (referred to as "Stone Pharmaceuticals (300765.SZ)") has submitted an application to the Hong Kong Stock Exchange main board, with Citic Securities as its exclusive sponsor. The company had previously submitted its application for listing to the Hong Kong Stock Exchange on December 10, 2025.

Trump keeps a close eye on AI: One week ago Anthropic was considered a "national security threat", and now does not rule out intervention when necessary.

When asked if he believes that Anthropic poses a threat to American security, Trump said, "Not now, maybe a week ago." He said that the company responded quickly after concerns were expressed by the US government and acted "very responsibly." He will not shut down the company, but is not sure if it is necessary to use emergency powers granted by law to intervene.

Goldman Sachs is cautious about the US stock market: geopolitical momentum tends to stagnate, CTA's downward asymmetric risk highlights.

The head of Goldman Sachs One-Delta trading desk pointed out that multiple risks are accumulating: substantive obstacles in US-Iran nuclear negotiations, the geopolitical premium of oil prices has not been fully digested by the market, the market is pricing physical crude oil, but has not fully discounted the lack of trust and the continued deterioration of US-Iran agreement momentum. At the same time, a downward asymmetric pattern has formed in CTA, the uncertainty of the Fed's policy framework and the rising volatility of the bond market are intertwined and superimposed, and the hidden risks in the market structure cannot be ignored.

314Ah in short supply, 500Ah+ melee: Energy storage cell showdown begins.

In 2026, energy storage batteries seem to have reached an industry turning point.

From "Token competition" to "Token throttling": Average monthly costs reach $7500 per person, astronomical bills force giants to collectively hit the brakes.

Businesses have shifted their AI spending from "extreme consumption" to "extreme conservation," with industry giants setting limits on AI usage and intelligent tools to deal with rising cost pressures. This budget control trend has sparked a debate among companies between cost control and productivity, while also bringing a windfall to infrastructure providers like Microsoft and Databricks that offer cost optimization, gateway tools, and model routers.

AI godfather warns: Musk's xAI has "failed", AI industry may face a "big bubble burst"

Yann LeCun, known as the "Godfather of AI", openly criticized Musk's xAI, calling it a "failure", and warned the entire AI industry that if costs are not reduced and pricing is not increased soon, it could face the risk of a "massive bubble burst".

"Dollar rebound ends emerging market currency bull market, hottest forex trading of the year cools rapidly"

The new head of the Federal Reserve made his debut by being hawkish, completely shattering expectations of an interest rate cut and causing a massive upheaval in the global currency market. The US dollar rebounded strongly, with a surge in buying options across the market. As a result of this impact, emerging markets that were popular for "carry trade" are facing collective liquidation, with funds accelerating their return. In the short term, the strong US dollar has once again dominated the global capital landscape.

Energy costs increase inflationary pressure! South Korea's Producer Price Index (PPI) in May rose by 8.5% year-on-year, reaching a near four-year high.

The double-wheel drive of energy shocks and semiconductor prosperity has led to sustained "explosive" inflation in South Korea's upstream. As the price hikes spread to the consumer end, the internal consensus of the "hawkish" faction within the Bank of Korea is rapidly expanding. A storm of interest rate hikes may be brewing, and investors need to be highly vigilant of the risks of policy tightening.

Washington releases hawk, U.S. dollar "turning point" is here?

Wash releases a strong hawkish signal, causing the market to quickly reassess the outlook for the US dollar: the US dollar index sees its largest two-day gain in three months, with a surge in large-scale bets on the dollar in the options market. Traders begin betting on the Federal Reserve raising rates as soon as July, increasing the attractiveness of US dollar assets, while major currencies such as the euro and yen are under pressure across the board.

When will the large-scale models in China reach the level of Fable? Musk predicts by the first quarter of next year, Tang Jie says it won't take that long.

With the release of GLM-5.2 and the previous top models of Anthropic being banned by US export controls, a public debate about the "race against time" for large models between China and the United States has erupted on overseas social media platforms. This has even attracted the participation of the world's richest man, Musk, and the founder of Zhipu, Tang Jie.

The yen falls to a nearly 40-year low, with the finance minister reiterating "bold action will be taken."

The Japanese yen has fallen to a near 40-year low, and although the Japanese government frequently issues verbal warnings and has thrown more than 70 billion USD to intervene in the foreign exchange market, it still struggles against the structural pressure brought by the high interest rate differential between the US and Japan, arbitrage trading, and reinflationary policies. The market is betting that the Tokyo authorities may suddenly intervene to rescue the currency, but analysts believe that as long as the high interest rates in the US remain, it will be difficult for the weakness of the yen to fundamentally reverse.

Wash "hawkish debut", Goldman Sachs downgrades gold target price, "if interest rates really rise this year, the price of gold will further decline."

Goldman Sachs has lowered its year-end gold target price for 2026 to $4900, and has recently adopted a "tactically cautious" stance. The report warns that if there are two rate hikes in the fall, the price of gold could fall to $4440. However, the strong structural trend of central banks globally buying gold provides core support, and mid-term geopolitical risks could drive the price of gold to surpass $6000.

Hong Kong student dormitory operator Student Living EduVation (SDLV.US) raises fundraising target to $31 million IPO price $4-6 per share.

Student Living EduVation (SDLV.US) increased its IPO issuance size on Thursday.

The U.S.-Iran talks on Friday were cancelled, international oil prices rebounded slightly, and gold prices fell by 2%.

The US-Iran talks scheduled to take place at the Burgenstock Resort in Switzerland on Friday will be cancelled.

Interest rate futures trading "four times unusual"! Traders are betting that the Federal Reserve will raise interest rates next month?

According to the latest data released by the Chicago Mercantile Exchange (CME) on Thursday, as bond traders aggressively shorted bets on the Federal Reserve raising interest rates at the next meeting, trading volume in August federal funds rate futures spiked. Over 500,000 contracts changed hands on Wednesday, with trading volume soaring to about four times the 20-day average.

Has the market overreacted to the oil price falling back to "pre-Iraq war levels"?

Brent crude oil fell below $77 per barrel this week, almost wiping out all geopolitical premiums since the outbreak of the Iran war, hitting the lowest level since the start of the conflict.

One picture understanding the Hong Kong Stock Exchange IPO of LB Pharmaceuticals (09637)

Hong Kong stock "the first stock of innovative drugs for kidney disease" LifeBond Medicine (09637) has introduced 11 top cornerstone investors, creating the strongest lineup in the Hong Kong stock 18A market in recent years.

China-Iran agreement sparks optimism, Asian stock markets approach historical highs.

Asian stock markets are approaching historical highs.

CME Group (CME.US) filed a lawsuit against CFTC accusing it of improperly approving perpetual futures trading.

The core dispute of this legal action lies in the regulatory compliance of perpetual futures contracts for cryptocurrency. CME accuses Selig of unilaterally approving perpetual futures contracts tied to the Bitcoin spot price without full committee review.

American Five Agencies Jointly Issue New Regulation: Stablecoin Issuers Must Verify User Identity Like Banks.

The financial regulatory landscape in the United States is at a critical turning point as the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Financial Crimes Enforcement Network under the Department of Treasury jointly proposed a major new regulation on Thursday.

The Japanese yen nears a 40-year low! Japan's Finance Minister once again proposes "bold action" and issues a warning against speculation trading.

Kazuki Katayama expressed on Friday that, due to the Japanese yen exchange rate nearing its lowest level in the past forty years, the government can take bold actions to address speculative behaviors.

IPO landed quickly and is planning to refinance! SpaceX intends to issue at least $20 billion in bonds, and its stock price has experienced a roller coaster.

SpaceX's investment banking team at SPCX.US will hold a conference call with investors as soon as next week to discuss the issuance of bonds after the company's record-breaking IPO.

US Treasury Department: In April, overseas purchases of US securities amounted to $103 billion, while holdings of US bonds increased by $3.9 billion. China's holdings of US bonds hit a new low since 2008.

The U.S. Treasury Department said in its monthly International Capital (TIC) report released on Thursday that foreign investors are estimated to have purchased $103 billion in U.S. long-term securities in April; at the same time, their holdings of U.S. Treasury bonds increased by $3.9 billion. In March, foreign holdings of U.S. Treasury bonds fell sharply by over $138 billion.

Wall Street expects long-term interest rates to climb higher again. The 30-year Treasury bond yield is expected to return to 5% by the end of the year.

After the Federal Reserve's newly appointed chairman, Jerome Powell, released a hawkish signal at the first monetary policy meeting, concerns in the market about the outlook for long-term interest rates in the United States have increased.

HK Bull/Bear Outstanding Qty Ratio(60:40) | June 19th

As of June 19, the latest bull-bear street ratio for the Hang Seng Index is 60:40.

Bitcoin continues to weaken! The funding model of Strategy (MSTR.US) is questioned by the market, with preferred shares plummeting to a new low since listing.

The price of Bitcoin continues to weaken, market analysis believes that the recent decline is not only affected by the expectation of the Federal Reserve raising interest rates, but also related to the pressure faced by Strategy, the world's largest enterprise-level Bitcoin holder, in its financing model. Investors are starting to worry about its ability to continue buying Bitcoin.

Meta (META.US) signs contract with Crusoe to purchase 1.6GW of data center computing power, further increasing investment in AI infrastructure.

Meta Platforms has reached a new partnership agreement with data center developer Crusoe, to obtain large-scale artificial intelligence computing resources from the latter's construction of multiple data centers, in order to support the company's continued expansion of its AI strategy.

Overnight US stocks | Three major indexes rebound sharply, with Nasdaq rising more than 1.9%. Intel Corporation (INTC.US) rose more than 10%.

As of the close, the Dow rose 72.71 points, or 0.14%, to 51,565.26 points; the Nasdaq rose 496.27 points, or 1.91%, to 26,517.93 points; the S&P 500 rose 80.48 points, or 1.08%, to 7,500.58 points.

US Stock Market Move | First Carolina Financial Service (FCBM.US) debuts in the US stock market with an opening price surge of over 4%.

First Carolina Financial Service entered the US stock market, with the opening price rising more than 4%, reaching $13.

US Stock Market Move | Cardigan (KARD.US) enters the US stock market, opening with a more than 25% increase.

Cardigan made its debut in the US stock market, with its stock price jumping over 25% at the opening, reaching $20.1.

The hawkish stance of the Federal Reserve boosts bullish confidence, and the US dollar strengthens for the second consecutive trading day.

After the Federal Reserve released a clear hawkish signal, the dollar strengthened for a second consecutive trading day and further approached the phase high reached at the end of March.

US Stock Market Move | "The 'American Retail Investors Headquarters' Robinhood (HOOD.US) rose nearly 4%, with a cumulative increase of 56% since April."

On Thursday, "American retail investor headquarters" Robinhood (HOOD.US) once again surged by nearly 4% in the intraday session, with a cumulative increase of 56% since April, now trading at $108.44.

Challenge NVIDIA Corporation's dominance! Amazon.com, Inc. (AMZN.US) plans to sell self-developed AI chips to external data centers, causing the stock price to rise by over 2%.

Amazon is considering selling its self-developed artificial intelligence chips to data centers of other companies, signaling an important step the company is taking in challenging Nvidia's dominant position in the AI chip market.

A-share evening hotspots | Eight departments deploy! AI+ consumption welcomes heavy positive news, institutions sort out beneficiary directions.

On June 18th, the Ministry of Commerce and seven other departments released the "Implementation Opinions on Accelerating the Development of "Artificial Intelligence + Consumption".

US Stock Market Move | Oil stocks fall, Apache Corporation (APA.US) falls more than 3%.

On Thursday, oil stocks fell across the board.

US Stock Market Move | Nuclear energy company Deep Fission (FISN.US) received a warm welcome on its first day of trading, with its stock price triggering a circuit breaker at one point.

Deep Fission debuts on the US stock market, with the stock price rising after opening. It reaches a high of $18.8 and briefly triggers a circuit breaker.

US Stock Market Move | Take-Two Interactive Software (TTWO.US) surges nearly 5%, "Grand Theft Auto VI" preorder is about to open.

On Thursday, Take-Two Interactive Software (TTWO.US) opened higher, with a peak increase of nearly 5% during trading hours.

US Stock Market Move | Concept stocks related to optical communication are generally up. Marvell Technology, Inc. (MRVL.US) rose more than 9%.

On Thursday, the concept stocks of optical communications surged.

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Trump's concerns about the economic situation weaken America's leverage in negotiations with Iran.

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Multiple ferry crossings suspended, Guangxi Maritime Bureau has elevated the emergency response for flood prevention in inland rivers to level III.

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Brazilian President Lula maintains a leading advantage over right-wing Senator Bolsonaro in the polls.

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China Earthquake Networks Center officially determined: At 00:10 on June 21, a 3.2-magnitude earthquake occurred in Haixi Prefecture, Qinghai Province, with a depth of 10 kilometers.

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