Overnight Markets
Today’s Must-Know News
S&P 500 futures opened nearly flat. S&P 500 cash fell 0.01% Thursday as Micron (MU +15.74%)-led AI optimism was offset by concerns over AI spending. Gold (XAU +0.68%) saw a relief rally after May Core PCE was in-line but still at its highest since October 2023. Semis (SOXX +3.94%) recovered after falling >8% past two sessions. Apple (AAPL -6.12%) raised prices globally for Macs, iPads, home devices and the Vision Pro, while Microsoft (MSFT -3.46%) said memory & storage prices have risen more than 2.5x since the last price increase in October and could double again by late 2027. Microsoft raises Xbox prices for third time (August 1) in 13 months. MSFT is our Core Recommendation; MU is our Trading Buy.
Qualcomm lands a major AI data-center win. Qualcomm (QCOM +3.79%) jumped as much as 11% Thursday after it forecast AI data-center revenue exceeding USD15bn by FY2029. Meta (META -2.65%) will deploy QCOM’s new data-center processors. META is our Core Recommendation; QCOM is our Trading Buy.
Trader's Corner (Details on Page 6-7) | ||||
| Ticker | Name | Rec. | Support Levels | Resistance Levels |
| 2172.HK | MicroPort NeuroScientific | - | HK$10.07/$9.72 | HK$12.37/$13.98 |
| 6082.HK | Shanghai Biren Tech | - | HK$59.50/$55.30 | HK$78.50/$84.45 |
| CR = Core Recommendation; TB = Trading Buy | ||||
Hong Kong IPO Calendar | |||
| Ticker | Company Name | Sector | IPO date |
| 1191.HK | Crealights | Technology | Jun 29 |
| 2672.HK | Baige Digital | Technology | Jun 29 |
| 9637.HK | Alebund-B | Healthcare | Jun 29 |
| 2697.HK | TH Medical-B | Healthcare | Jun 30 |
| 3952.HK | Laifual | Industrials | Jun 30 |
| 6715.HK | XunLong Scitech | Consumer Staples | Jun 30 |
| 6915.HK | Jiangxi Bio | Healthcare | Jun 30 |
| 0668.HK | Anker | Technology | Jul 2 |
| 2667.HK | Tong Ren Tang | Healthcare | Jul 7 |
Americas
OpenAI prioritizes valuation over timing. OpenAI is leaning toward delaying its IPO until 2027 rather than accepting a lower valuation, with CEO Sam Altman reportedly insisting on a USD 1 tn target. Separately, the firm is rolling out GPT-5.6 in a limited preview after the Trump administration requested a staggered launch over security concerns (Reuters/The Information)
Starship fuel buildout expands. SpaceX (SPCX -1.0%) plans to build an 8-mile natural gas pipeline to its Starbase facility in Texas to support higher Starship launch rates. The project is part of broader efforts to secure methane fuel for Starlink, AI satellite deployments and future Moon and Mars missions. (Reuters)
Hormuz attack revives oil supply concerns. Energy (XLE +0.97%) edged higher Thursday, after oil prices rose as a cargo ship was attacked in the Strait of Hormuz, renewing concerns over the security of a key global energy shipping route. Front-month WTI crude futures rose 2.2% to USD 71.92 /bbl Thursday. (Bloomberg). XLE is our Core Recommendation.
Freight demand shows resilience. FedEx Freight (FDXF -1.2%) forecast 4%-6% revenue growth and adjusted operating income growth of 0.8%-7.5% for the remainder of 2026, citing improving industrial demand and firmer freight rates following its spin-off from FedEx (FDX +3.98%). The firm reported fiscal 4Q revenue of USD 2.4 bn, up 4.8% and above expectations. Shares rose 0.3% after-market Thursday. (Reuters)
India AI investment surge. Amazon (AMZN -3.10%) will invest an additional USD 13 bn in India by 2030 for AI and cloud infrastructure, raising its total planned investment in the country to USD 48 bn. The move follows similar AI spending commitments from Microsoft (MSFT -3.46%) & Alphabet (GOOGL -0.46%). (Bloomberg) AMZN & MSFT are our Core Recommendations; GOOGL is our Trading Buy.
Micron’s market cap surpassed Meta. Micron (MU +15.74%) briefly surpassed Meta (META -2.65%) and approached Tesla (TSLA -0.11%) in market value after a strong forecast highlighted sustained AI-driven demand for memory chips. MU said its customers have committed USD 22 bn to secure memory chip supply, helping lift its market capitalization to about USD 1.4 tn. (Reuters) META is our Core Recommendation; MU is our Trading Buy.
Google intensifies AI coding push. Alphabet (GOOGL -0.46%) is reorganizing and expanding its AI coding team to narrow the gap with Anthropic in the fast-growing AI software market. The revamped group will focus on improving Google's AI models for coding and productivity tasks, including presentation creation. (Bloomberg/The Information). GOOGL is our Trading Buy.
IBM breaks new chip ground. IBM (IBM -1.78%) unveiled what it said is the world's first 0.7nm chip technology, which could deliver up to 50% higher performance or 70% better energy efficiency for AI workloads. The technology could reach production within five years, strengthening IBM's position in next-generation semiconductor design alongside TSMC (TSM -1.32%; 2330 TT flat) & Intel (INTC +0.93%). (Reuters) TSM is our Core Recommendation.
EU targets cloud giants. The EU has preliminarily designated Amazon (AMZN -3.1%) Web Services and Microsoft (MSFT -3.46%) Azure as “gatekeepers” under the Digital Markets Act, potentially extending stricter competition rules to cloud infrastructure. Amazon and Microsoft argued the move could hamper innovation. (Reuters) AMZN & MSFT are our Core Recommendation.
Investors rotate from Big Tech into industrials. The S&P 500 Industrials Index (S5INDU +2.19%) rose to a record high as investors rotated into cyclical and value stocks, with AI-related demand benefiting Caterpillar (CAT +6.29%), Vertiv (VRT +2.89%) and GE Vernova (GEV +2.63%). Mark Hackett of Nationwide Funds Group said industrials are viewed as a cheaper way to play cyclical strength, transportation demand and a manufacturing rebound. (Bloomberg) GEV is our Core Recommendation.
US military opens bases to critical minerals processing. The US Army reached agreements with REalloys (ALOY -14.52%), Titan Mining (TII +2.76%), Ioneer (INR AU -9.68%) and EnergyX to build rare earths, graphite, lithium and boron processing facilities on military bases, marking a first-of-its-kind effort to strengthen domestic critical minerals supply chains. The plants could begin construction as early as 2027, with production expected to start in 2028. (Bloomberg)
US pressure on China EVs rises. Polestar (PSNY -5.95%) said it will be barred from selling vehicles in the US from the 2027 model year after failing to obtain approval under rules targeting China-linked vehicle technology. The move marks another escalation in US restrictions on Chinese EVs. (Reuters)
Dimon's tenure extends as JPMorgan resets succession race. JPMorgan (JPM +0.5%) promoted Doug Petno and Troy Rohrbaugh to co-presidents while top succession contender Marianne Lake retired, narrowing the field to succeed CEO Jamie Dimon. A source said Dimon is expected to remain CEO for at least three more years before eventually transitioning to executive chairman. (Reuters)
Jefferies misses profit estimates. Jefferies Financial (JEF -9.15%) reported 2Q profit below analysts' estimates as weakness in its asset management business offset record investment banking revenue driven by strong dealmaking and equity underwriting. Asset management fees and investment return revenue fell 35% yoy due to weaker fund performance. (Reuters)
Greater China
China tech rally lifts mainland stocks. China stocks climbed on Thursday as strong earnings from Micron (MU +15.74%) reignited the AI rally, lifting semiconductor and technology shares to fresh highs. CSI 300 climbed 1.56%, while HSI fell 1.43% to its lowest level in a year, weighed down by continued weakness in tech stocks. (Reuters)
China banks tighten gold trading. Major Chinese banks, including ICBC (1398.HK -2.07%), are suspending or scaling back individual precious metals trading linked to the Shanghai Gold Exchange amid sharp gold volatility and risk concerns. Spot gold has fallen below USD4,000/oz after retreating from earlier record highs, prompting tighter margin rules and reduced leverage access. (SCMP)
China audit flags issues at major banks. China's National Audit Office said Bank of China (3988.HK -5.31%) evaded RMB 2.37 bn in taxes by disguising private equity funds as public ones to claim tax exemptions. The watchdog also said Agricultural Bank of China (1288.HK -2.87%) improperly issued RMB 11.07 bn in loans to non-compliant farmland projects due to inadequate oversight. (Reuters)
PBOC to launch overnight repos. PBOC will introduce overnight reverse repos from June 29, offering short-term funding to banks and brokers to strengthen control over volatile money-market rates. PBOC said the new tool will debut at month-end to better meet short-term liquidity needs, with analysts viewing the move as a key step in China's interest-rate reform. (Reuters)
Tencent launches Marvis on iOS. Tencent's (0700.HK -1.73%) operating system-level AI assistant app Marvis has launched its iOS version on Apple (AAPL -6.12%) App Store, focusing on enhanced cross-device collaboration. The app enables multi-device interoperability and allows users to remotely control desktop computers in real time via smartphones. (Reuters) 0700.HK is our Core Recommendation.
Nio seeks Hong Kong listing upgrade. Nio (NIO -3.47%; 9866.HK -1.18%) is seeking to convert its Hong Kong secondary listing into a primary listing, a move that could pave the way for inclusion in Stock Connect and broaden its mainland investor base. Rivals XPeng (9868.HK -2.52%) and Li Auto (2015.HK -4.13%) already qualify for the programme through their dual-primary listings. (Reuters)
COFCO secures sustainability-linked loans. COFCO International secured USD 600 mn in sustainability-linked loans from Industrial and Commercial Bank of China (601398.SZ -0.42%) and Bank of China (3988.HK -5.31%), tied to emissions-reduction targets for Brazilian soybean and corn production. The deal extends COFCO's sustainable financing efforts. (Reuters)
DeepSeek ramps up hiring. DeepSeek plans to at least double the size of all departments as it accelerates technology development, according to a recruitment announcement. The hiring push spans multiple technical and engineering roles as the Chinese AI startup expands operations. (Bloomberg)
Chinese EV makers target Canada market. Chinese automakers including BYD (1211.HK +0.13%), Chery, Changan and Geely (0175.HK -1.94%)-owned Lotus are accelerating plans to enter Canada despite a 49,000-vehicle import cap, as they position for potential future expansion into the US market. BYD is planning to open six Canadian dealerships, while Lotus also aims to launch several outlets this year. (Reuters) 0175.HK is our Core Recommendation.
DeepSeek ramps hiring. DeepSeek plans to at least double the size of all departments as it accelerates technology development, according to a recruitment announcement. The hiring push spans multiple technical and engineering roles as the Chinese AI startup expands operations. (Bloomberg)
Asia ex. China
South Korean chip stocks surge. Shares of SK Hynix (000660 KS +10.78%) and Samsung (005930 KS +5.89%) jumped Thursday after Micron’s (MU +15.74%) strong fiscal 4Q earnings and outlook reinforced optimism over AI-driven memory demand. Sentiment also rise as SK Hynix plans to raise up to USD 29.4 bn via a US listing. (Reuters)
Samsung eyes massive Korea expansion. Samsung (005930 KS +5.89%) is reportedly set to unveil a 10-year investment plan worth KRW 1,000 tn (USD 648 bn) in South Korea, including about KRW 300 tn for new semiconductor fabs, underscoring its push to expand domestic chip production. (Reuters)
CHIPS funding boost. BHP (BHP LN +0.82%) backed I-Pulse secured a USD 250 mn award from the US Department of Commerce to develop semiconductor and pulsed-power technologies. The funding will support silicon-carbide components used in industrial and defense applications. (Reuters)
EMEA and Others
European shares hit record high. STOXX Europe 600 rose 0.8% on Thursday to a record high, as strong guidance from Micron (MU +15.74%) revived confidence in the AI trade and lifted technology stocks. France's CAC 40 advanced 0.55% and the UK's FTSE 100 gained 0.65%, while Germany's DAX climbed 1.03%. ASML (ASML NA +2.59%), Infineon (IFX GR +4.38%) and Siemens Energy (ENR GR +3.07%) advanced, while Bayer (BAYN GR +16.52%) surged after a favourable US Supreme Court ruling on Roundup litigation. (Reuters)
H&M misses profit expectations. H&M (HMB SS -0.59%) reported fiscal 2Q operating profit of SEK 5.91 bn, missing analysts' expectations of SEK 6.38 bn, as tighter inventory management limited its ability to fully meet demand. The Swedish fashion retailer also forecast unchanged sales in local currencies for June. (Reuters)
Maersk resumes Strait of Hormuz transits. Maersk (MAERSKB +2.86%) said the Maersk Baltimore and a chartered vessel have successfully transited the Strait of Hormuz and exited the Gulf following thorough security assessments. The shipping group said 44,000 of the 47,000 containers destined for the Gulf region at the onset of the conflict have now been delivered. (Reuters)
Merck to acquire Bio-Techne for USD 11.3 bn. Merck (MRK +4.02%) agreed to acquire US life sciences company Bio-Techne (TECH +20.08%) for USD 11.3 bn, marking the German drugmaker's largest deal in more than a decade. Merck offered USD 73 per share, a 24% premium to Bio-Techne's previous close, and expects the transaction to close by late 2026 or early 2027. (Reuters)
TRADERS’ CORNER
 Source: TradingView | MicroPort NeuroScientific (2172.HK)
Last Price: HK$10.83 Support Levels: HK$10.07 (-7.0%)/ HK$9.72 (-10.2%) Resistance Levels: HK$12.37 (+14.2%)/ HK$13.98 (+29.0%) |
Our Technical View
Following a clean structural breakout, price has successfully maintained its footing above the resistance-turned-support threshold.
This is reinforced by a constructive closing print yesterday and a robust momentum profile, with the MACD firmly entrenched in a bullish regime and expanding upward.
This indicates a sustained continuation toward the next major resistance target.
 Source: TradingView | Shanghai Biren Tech (6082.HK)
Last Price: HK$68.00 Support Levels: HK$59.50 (-12.6%)/ HK$55.30 (-18.6%) Resistance Levels: HK$78.50 (+15.4%)/ HK$84.45 (+24.3%) |
Our Technical View
The stock notched a key technical milestone yesterday, using an expansive bullish bar to clear its previous peak and confirm an immediate momentum acceleration.
Underlying buying pressure continues to intensify, as evidenced by a rising MACD within a strongly bullish configuration.
With the overhead resistance effectively cleared, the path of least resistance points toward further upside extensions.
Today’s Must-Know News
S&P 500 futures opened nearly flat. S&P 500 cash fell 0.01% Thursday as Micron (MU +15.74%)-led AI optimism was offset by concerns over AI spending. Gold (XAU +0.68%) saw a relief rally after May Core PCE was in-line but still at its highest since October 2023. Semis (SOXX +3.94%) recovered after falling >8% past two sessions. Apple (AAPL -6.12%) raised prices globally for Macs, iPads, home devices and the Vision Pro, while Microsoft (MSFT -3.46%) said memory & storage prices have risen more than 2.5x since the last price increase in October and could double again by late 2027. Microsoft raises Xbox prices for third time (August 1) in 13 months. MSFT is our Core Recommendation; MU is our Trading Buy.
Qualcomm lands a major AI data-center win. Qualcomm (QCOM +3.79%) jumped as much as 11% Thursday after it forecast AI data-center revenue exceeding USD15bn by FY2029. Meta (META -2.65%) will deploy QCOM’s new data-center processors. META is our Core Recommendation; QCOM is our Trading Buy.
Trader's Corner (Details on Page 6-7) | ||||
| Ticker | Name | Rec. | Support Levels | Resistance Levels |
| 2172.HK | MicroPort NeuroScientific | - | HK$10.07/$9.72 | HK$12.37/$13.98 |
| 6082.HK | Shanghai Biren Tech | - | HK$59.50/$55.30 | HK$78.50/$84.45 |
| CR = Core Recommendation; TB = Trading Buy | ||||
Hong Kong IPO Calendar | |||
| Ticker | Company Name | Sector | IPO date |
| 1191.HK | Crealights | Technology | Jun 29 |
| 2672.HK | Baige Digital | Technology | Jun 29 |
| 9637.HK | Alebund-B | Healthcare | Jun 29 |
| 2697.HK | TH Medical-B | Healthcare | Jun 30 |
| 3952.HK | Laifual | Industrials | Jun 30 |
| 6715.HK | XunLong Scitech | Consumer Staples | Jun 30 |
| 6915.HK | Jiangxi Bio | Healthcare | Jun 30 |
| 0668.HK | Anker | Technology | Jul 2 |
| 2667.HK | Tong Ren Tang | Healthcare | Jul 7 |
Americas
OpenAI prioritizes valuation over timing. OpenAI is leaning toward delaying its IPO until 2027 rather than accepting a lower valuation, with CEO Sam Altman reportedly insisting on a USD 1 tn target. Separately, the firm is rolling out GPT-5.6 in a limited preview after the Trump administration requested a staggered launch over security concerns (Reuters/The Information)
Starship fuel buildout expands. SpaceX (SPCX -1.0%) plans to build an 8-mile natural gas pipeline to its Starbase facility in Texas to support higher Starship launch rates. The project is part of broader efforts to secure methane fuel for Starlink, AI satellite deployments and future Moon and Mars missions. (Reuters)
Hormuz attack revives oil supply concerns. Energy (XLE +0.97%) edged higher Thursday, after oil prices rose as a cargo ship was attacked in the Strait of Hormuz, renewing concerns over the security of a key global energy shipping route. Front-month WTI crude futures rose 2.2% to USD 71.92 /bbl Thursday. (Bloomberg). XLE is our Core Recommendation.
Freight demand shows resilience. FedEx Freight (FDXF -1.2%) forecast 4%-6% revenue growth and adjusted operating income growth of 0.8%-7.5% for the remainder of 2026, citing improving industrial demand and firmer freight rates following its spin-off from FedEx (FDX +3.98%). The firm reported fiscal 4Q revenue of USD 2.4 bn, up 4.8% and above expectations. Shares rose 0.3% after-market Thursday. (Reuters)
India AI investment surge. Amazon (AMZN -3.10%) will invest an additional USD 13 bn in India by 2030 for AI and cloud infrastructure, raising its total planned investment in the country to USD 48 bn. The move follows similar AI spending commitments from Microsoft (MSFT -3.46%) & Alphabet (GOOGL -0.46%). (Bloomberg) AMZN & MSFT are our Core Recommendations; GOOGL is our Trading Buy.
Micron’s market cap surpassed Meta. Micron (MU +15.74%) briefly surpassed Meta (META -2.65%) and approached Tesla (TSLA -0.11%) in market value after a strong forecast highlighted sustained AI-driven demand for memory chips. MU said its customers have committed USD 22 bn to secure memory chip supply, helping lift its market capitalization to about USD 1.4 tn. (Reuters) META is our Core Recommendation; MU is our Trading Buy.
Google intensifies AI coding push. Alphabet (GOOGL -0.46%) is reorganizing and expanding its AI coding team to narrow the gap with Anthropic in the fast-growing AI software market. The revamped group will focus on improving Google's AI models for coding and productivity tasks, including presentation creation. (Bloomberg/The Information). GOOGL is our Trading Buy.
IBM breaks new chip ground. IBM (IBM -1.78%) unveiled what it said is the world's first 0.7nm chip technology, which could deliver up to 50% higher performance or 70% better energy efficiency for AI workloads. The technology could reach production within five years, strengthening IBM's position in next-generation semiconductor design alongside TSMC (TSM -1.32%; 2330 TT flat) & Intel (INTC +0.93%). (Reuters) TSM is our Core Recommendation.
EU targets cloud giants. The EU has preliminarily designated Amazon (AMZN -3.1%) Web Services and Microsoft (MSFT -3.46%) Azure as “gatekeepers” under the Digital Markets Act, potentially extending stricter competition rules to cloud infrastructure. Amazon and Microsoft argued the move could hamper innovation. (Reuters) AMZN & MSFT are our Core Recommendation.
Investors rotate from Big Tech into industrials. The S&P 500 Industrials Index (S5INDU +2.19%) rose to a record high as investors rotated into cyclical and value stocks, with AI-related demand benefiting Caterpillar (CAT +6.29%), Vertiv (VRT +2.89%) and GE Vernova (GEV +2.63%). Mark Hackett of Nationwide Funds Group said industrials are viewed as a cheaper way to play cyclical strength, transportation demand and a manufacturing rebound. (Bloomberg) GEV is our Core Recommendation.
US military opens bases to critical minerals processing. The US Army reached agreements with REalloys (ALOY -14.52%), Titan Mining (TII +2.76%), Ioneer (INR AU -9.68%) and EnergyX to build rare earths, graphite, lithium and boron processing facilities on military bases, marking a first-of-its-kind effort to strengthen domestic critical minerals supply chains. The plants could begin construction as early as 2027, with production expected to start in 2028. (Bloomberg)
US pressure on China EVs rises. Polestar (PSNY -5.95%) said it will be barred from selling vehicles in the US from the 2027 model year after failing to obtain approval under rules targeting China-linked vehicle technology. The move marks another escalation in US restrictions on Chinese EVs. (Reuters)
Dimon's tenure extends as JPMorgan resets succession race. JPMorgan (JPM +0.5%) promoted Doug Petno and Troy Rohrbaugh to co-presidents while top succession contender Marianne Lake retired, narrowing the field to succeed CEO Jamie Dimon. A source said Dimon is expected to remain CEO for at least three more years before eventually transitioning to executive chairman. (Reuters)
Jefferies misses profit estimates. Jefferies Financial (JEF -9.15%) reported 2Q profit below analysts' estimates as weakness in its asset management business offset record investment banking revenue driven by strong dealmaking and equity underwriting. Asset management fees and investment return revenue fell 35% yoy due to weaker fund performance. (Reuters)
Greater China
China tech rally lifts mainland stocks. China stocks climbed on Thursday as strong earnings from Micron (MU +15.74%) reignited the AI rally, lifting semiconductor and technology shares to fresh highs. CSI 300 climbed 1.56%, while HSI fell 1.43% to its lowest level in a year, weighed down by continued weakness in tech stocks. (Reuters)
China banks tighten gold trading. Major Chinese banks, including ICBC (1398.HK -2.07%), are suspending or scaling back individual precious metals trading linked to the Shanghai Gold Exchange amid sharp gold volatility and risk concerns. Spot gold has fallen below USD4,000/oz after retreating from earlier record highs, prompting tighter margin rules and reduced leverage access. (SCMP)
China audit flags issues at major banks. China's National Audit Office said Bank of China (3988.HK -5.31%) evaded RMB 2.37 bn in taxes by disguising private equity funds as public ones to claim tax exemptions. The watchdog also said Agricultural Bank of China (1288.HK -2.87%) improperly issued RMB 11.07 bn in loans to non-compliant farmland projects due to inadequate oversight. (Reuters)
PBOC to launch overnight repos. PBOC will introduce overnight reverse repos from June 29, offering short-term funding to banks and brokers to strengthen control over volatile money-market rates. PBOC said the new tool will debut at month-end to better meet short-term liquidity needs, with analysts viewing the move as a key step in China's interest-rate reform. (Reuters)
Tencent launches Marvis on iOS. Tencent's (0700.HK -1.73%) operating system-level AI assistant app Marvis has launched its iOS version on Apple (AAPL -6.12%) App Store, focusing on enhanced cross-device collaboration. The app enables multi-device interoperability and allows users to remotely control desktop computers in real time via smartphones. (Reuters) 0700.HK is our Core Recommendation.
Nio seeks Hong Kong listing upgrade. Nio (NIO -3.47%; 9866.HK -1.18%) is seeking to convert its Hong Kong secondary listing into a primary listing, a move that could pave the way for inclusion in Stock Connect and broaden its mainland investor base. Rivals XPeng (9868.HK -2.52%) and Li Auto (2015.HK -4.13%) already qualify for the programme through their dual-primary listings. (Reuters)
COFCO secures sustainability-linked loans. COFCO International secured USD 600 mn in sustainability-linked loans from Industrial and Commercial Bank of China (601398.SZ -0.42%) and Bank of China (3988.HK -5.31%), tied to emissions-reduction targets for Brazilian soybean and corn production. The deal extends COFCO's sustainable financing efforts. (Reuters)
DeepSeek ramps up hiring. DeepSeek plans to at least double the size of all departments as it accelerates technology development, according to a recruitment announcement. The hiring push spans multiple technical and engineering roles as the Chinese AI startup expands operations. (Bloomberg)
Chinese EV makers target Canada market. Chinese automakers including BYD (1211.HK +0.13%), Chery, Changan and Geely (0175.HK -1.94%)-owned Lotus are accelerating plans to enter Canada despite a 49,000-vehicle import cap, as they position for potential future expansion into the US market. BYD is planning to open six Canadian dealerships, while Lotus also aims to launch several outlets this year. (Reuters) 0175.HK is our Core Recommendation.
DeepSeek ramps hiring. DeepSeek plans to at least double the size of all departments as it accelerates technology development, according to a recruitment announcement. The hiring push spans multiple technical and engineering roles as the Chinese AI startup expands operations. (Bloomberg)
Asia ex. China
South Korean chip stocks surge. Shares of SK Hynix (000660 KS +10.78%) and Samsung (005930 KS +5.89%) jumped Thursday after Micron’s (MU +15.74%) strong fiscal 4Q earnings and outlook reinforced optimism over AI-driven memory demand. Sentiment also rise as SK Hynix plans to raise up to USD 29.4 bn via a US listing. (Reuters)
Samsung eyes massive Korea expansion. Samsung (005930 KS +5.89%) is reportedly set to unveil a 10-year investment plan worth KRW 1,000 tn (USD 648 bn) in South Korea, including about KRW 300 tn for new semiconductor fabs, underscoring its push to expand domestic chip production. (Reuters)
CHIPS funding boost. BHP (BHP LN +0.82%) backed I-Pulse secured a USD 250 mn award from the US Department of Commerce to develop semiconductor and pulsed-power technologies. The funding will support silicon-carbide components used in industrial and defense applications. (Reuters)
EMEA and Others
European shares hit record high. STOXX Europe 600 rose 0.8% on Thursday to a record high, as strong guidance from Micron (MU +15.74%) revived confidence in the AI trade and lifted technology stocks. France's CAC 40 advanced 0.55% and the UK's FTSE 100 gained 0.65%, while Germany's DAX climbed 1.03%. ASML (ASML NA +2.59%), Infineon (IFX GR +4.38%) and Siemens Energy (ENR GR +3.07%) advanced, while Bayer (BAYN GR +16.52%) surged after a favourable US Supreme Court ruling on Roundup litigation. (Reuters)
H&M misses profit expectations. H&M (HMB SS -0.59%) reported fiscal 2Q operating profit of SEK 5.91 bn, missing analysts' expectations of SEK 6.38 bn, as tighter inventory management limited its ability to fully meet demand. The Swedish fashion retailer also forecast unchanged sales in local currencies for June. (Reuters)
Maersk resumes Strait of Hormuz transits. Maersk (MAERSKB +2.86%) said the Maersk Baltimore and a chartered vessel have successfully transited the Strait of Hormuz and exited the Gulf following thorough security assessments. The shipping group said 44,000 of the 47,000 containers destined for the Gulf region at the onset of the conflict have now been delivered. (Reuters)
Merck to acquire Bio-Techne for USD 11.3 bn. Merck (MRK +4.02%) agreed to acquire US life sciences company Bio-Techne (TECH +20.08%) for USD 11.3 bn, marking the German drugmaker's largest deal in more than a decade. Merck offered USD 73 per share, a 24% premium to Bio-Techne's previous close, and expects the transaction to close by late 2026 or early 2027. (Reuters)
TRADERS’ CORNER
| Source: TradingView | MicroPort NeuroScientific (2172.HK)
Last Price: HK$10.83 Support Levels: HK$10.07 (-7.0%)/ HK$9.72 (-10.2%) Resistance Levels: HK$12.37 (+14.2%)/ HK$13.98 (+29.0%) |
Our Technical View
Following a clean structural breakout, price has successfully maintained its footing above the resistance-turned-support threshold.
This is reinforced by a constructive closing print yesterday and a robust momentum profile, with the MACD firmly entrenched in a bullish regime and expanding upward.
This indicates a sustained continuation toward the next major resistance target.
| Source: TradingView | Shanghai Biren Tech (6082.HK)
Last Price: HK$68.00 Support Levels: HK$59.50 (-12.6%)/ HK$55.30 (-18.6%) Resistance Levels: HK$78.50 (+15.4%)/ HK$84.45 (+24.3%) |
Our Technical View
The stock notched a key technical milestone yesterday, using an expansive bullish bar to clear its previous peak and confirm an immediate momentum acceleration.
Underlying buying pressure continues to intensify, as evidenced by a rising MACD within a strongly bullish configuration.
With the overhead resistance effectively cleared, the path of least resistance points toward further upside extensions.
Disclosures and disclaimers
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