GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | "Encrypted whale Strategy (MSTR.US) continues to fall by over 3%, selling 32 bitcoins causing market panic."

On Wednesday, Strategy (MSTR.US) continued to fall by over 3%, with a year-to-date decline of 16%, now trading at $131.12.

"Funds 'buying on the dip' drive Vanguard S&P 500 ETF (VOO.US) assets surpassing one trillion US dollars, setting an industry record."

Vanguard Group's ETF tracking the S&P 500 index officially surpassed $1 trillion in assets under management, becoming the world's first exchange-traded fund to reach this milestone.

US Stock Market Move | Many popular Chinese concept stocks mostly fell. Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) dropped nearly 6%. UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR.US) dropped nearly 5%.

On Wednesday, the Nasdaq China Golden Dragon Index fell nearly 2% in early trading, with most popular Chinese concept stocks also experiencing declines.

Who will take the helm at Adobe (ADBE.US) in the era of AI? Two internal executives lead the race to succeed the CEO, with external candidates also being considered simultaneously.

In the wave of artificial intelligence impacting the traditional software industry, Adobe is accelerating its CEO succession plan.

A-share evening hot topics | Technology sector receives another significant signal! CCTV news report on A-share market led to a 5% increase in market the following day after it was mentioned last time.

On June 3rd, the news broadcast once again reported on the A-share market for a total of 109 seconds, mentioning "Long-term foreign investors bullish on China, continuously increasing investment in high-tech industries" and other contents.

Alphabet Inc. Class C (GOOGL.US) expands its largest-ever equity financing to $84.75 billion and enters the municipal bond prepayment energy market for the first time.

Google's parent company Alphabet has further expanded its financing plan announced earlier this week to 847.5 billion US dollars, which is higher than the 800 billion US dollars announced two days ago.

US Stock Market Move | Storage sector goes against the trend and strengthens, with Western Digital Corporation (WDC.US) rising more than 5%.

On Wednesday, the storage sector showed strength against the market trend.

US Stock Market Move | Super bull market narrative ignites Intel Corporation (INTC.US) to rise more than 6% in early trading.

On Wednesday, Intel (INTC.US) opened more than 6% higher, with a year-to-date increase of over 210%, now trading at $114.66.

US Stock Market Move | GameStop Corp. Class A (GME.US) surged over 7% in the first quarter with a net profit reaching $3.896 billion, a record high.

As of the time of writing, the stock has risen over 9%, reaching $22.78 per share.

US Stock Market Move | Collaborating with NVIDIA Corporation, the MGX ecosystem, and Naive Semiconductor (NVTS.US) opened with a significant increase of over 18%.

On Wednesday, Nuvation Semiconductor (NVTS.US) opened with a sharp increase of over 18%, accumulating a total surge of 320% for the year, now trading at $30.40 per share.

The S&P 500 index and the Nasdaq 100 index both fell by 0.6%.

Spot gold lost the support of $4430 per ounce, falling 1.30% intraday.

US Stock Market Move | Marvell Technology, Inc. (MRVL.US) opened and continued to rise by over 6%, with a total increase of over 260% for the year.

On Wednesday, Marvell Technology (MRVL.US) opened with a continued increase of over 6%, following a previous trading day surge of 32%, with a year-to-date gain of over 260%.

Apple Inc. is preparing to unveil its first European developer center in Berlin on the eve of the developer conference, deepening its commitment to building an ecosystem.

With the annual Worldwide Developers Conference (WWDC) approaching, Apple (AAPL.US) announced that it will establish its first European developer center in Berlin.

Spot silver fell 2% intraday, now trading at $73.46 per ounce.

Option traders "ignore" non-farm payrolls! Employment has become background music, inflation is the main character determining the fate of US stocks.

Wall Street traders are expected to announce strong job reports on Friday, but this may not be enough to appease their emotions, as the market's attention has shifted to inflation.

Unexpectedly, May's "small non-agricultural" report in the United States warmed up: adding 122,000 new jobs, reaching a 16-month high. This reinforces the narrative of the Federal Reserve's "higher for longer" interest rates.

Despite the rising energy costs due to the Iran conflict, the U.S. ADP employment data, known as the "small non-farm", still reached a new high in May since January 2025, indicating that the labor market may be gaining momentum for growth.

Alphabet has increased the financing amount from 800 billion US dollars to 847.5 billion US dollars.

The narrative of Intel Corporation (INTC.US) transitioning from an AI edge role to a "full-stack AI computing platform" is becoming increasingly bullish.

Against the backdrop of a surge in CPU demand in data centers and the growth trajectory of the 18A advanced chip manufacturing process business, Wall Street financial giants' bullish sentiment towards Intel, the super giant of x86 architecture CPUs, has become increasingly strong recently.

Changqiao Securities: Trading services in mainland China will temporarily suspend new opening and additional trading of all types of securities, only selling and closing positions are supported.

Increase in holding again! Duan Yongping's stake in POP MART (09992) has risen to 6.04%, with a market value of nearly HK$14.5 billion.

According to the equity disclosure by the Hong Kong Stock Exchange, on May 28, well-known investor Duan Yongping continued to increase his stake in Pop Mart H shares (09992) through his controlled H&H International Investment, with the ownership ratio rising from 5.69% to 6.04%.

Palo Alto Networks' performance "explodes" but faces selling pressure. Wall Street remains optimistic about the early growth logic of AI security.

Although Palo Alto Networks (PANW.US) exceeded expectations across the board for its third quarter performance and raised guidance, its stock price was slightly down in pre-market trading. However, Wall Street's major banks unanimously maintained their buy ratings and significantly raised their target prices, remaining confident in the long-term growth potential of its AI security platform.

The Strait of Hormuz is blocked, threatening the energy lifeline. Kuwait plans to increase overseas oil storage and search for alternative pipelines.

After the Gulf War resulted in disrupted maritime traffic through the Strait of Hormuz, Kuwait will consider increasing its overseas oil reserves to enhance its ability to supply oil to the global market.

Preview of US Stock Market | Three major stock index futures do not rise or fall in the same way. "Mini Non-Farm Payrolls" hits a 16-month high in May.

On June 3rd (Wednesday), before the US stock market opened, the futures of the three major US stock indexes were mixed.

The State Administration of Radio, Film, and Television has deployed a special campaign to crack down on harmful, vulgar content, and copyright infringement in micro-short dramas.

On June 1st, the State Administration of Radio, Film and Television deployed a special campaign to crack down on harmful and vulgar content as well as infringement and piracy in micro dramas. The special campaign will last for two months, and will focus on cracking down on eight key issues such as harmful content involving children, soft pornographic content, flaunting wealth, distorted views on marriage and love, feudal remnants, violence and revenge, vulgar titles, infringement and piracy. It aims to regulate the creation and dissemination of micro dramas, and further create a clear and healthy development environment for the industry.

Shanghai factory delivery approaching nearly 86,000 vehicles! Tesla, Inc. (TSLA.US) introduces new promotions in May, sales surge by 40% leading the revival of the Chinese electric vehicle market.

In May, Tesla's car sales manufactured in China surged by nearly 40%, exceeding the overall growth pace of the Chinese electric vehicle market as market demand shows signs of recovery.

Selected announcements of A-shares | Yankuang Energy Group (600188.SH) plans to acquire 100% equity of two electrical companies. Contemporary Amperex Technology (300750.SZ) plans to reduce its shareholding of Hunan Yuneng New Energy Battery Material by no more than 3%.

Yankuang Energy: Proposed acquisition of the controlling shareholder's subsidiary New Energy Group and Shan Neng's 100% equity in electricity sales for 16.415 billion yuan.

High net worth individuals continue to prop up US consumer spending! Macy's, Inc. (M.US) three major brands all saw growth, raising full-year performance expectations.

The Messi Department Store has raised its sales expectations for this year, indicating that the company is focusing on developing its luxury goods business and improving its product range.

Broadcom Inc. (AVGO.US) faces financial report test after a 64% surge: AI feast is not over yet, but the market is starting to worry about the peak.

Broadcom (AVGO.US) stock prices surged in the short term, triggering concerns about profit-taking. Despite the historical rebound in the semiconductor sector driven by AI demand, market doubts about its high valuation and future growth slowdown are increasing with the release of financial reports.

Chen Meibao: Hong Kong must seize the key window of opportunity in the next five to ten years to promote the deep integration of shipping and finance.

Hong Kong must seize the key window of opportunity in the next five to ten years, promote deep integration of shipping and finance, and enhance industrial value and international influence.

Deutsche Bank (DB.US) Q2 "pressured at both ends": provisions may exceed expectations, trading business lagging behind peers, at risk of fading in the Wall Street "party season".

Deutsche Bank (DB.US) stated that as they clean up their balance sheet, the funds set aside for bad loans in the second quarter may exceed analysts' expectations.

The final speech released a strong signal! Bank of Japan Governor Haruhiko Kuroda said "we must fully discuss raising interest rates." The probability of action by the Bank of Japan in June has soared to 85%.

In the last scheduled public speech before the monetary policy meeting of the Bank of Japan this month, Governor Haruhiko Kuroda sent a strong signal of interest rate hike.

Interest rate hike expectations reignited, "global asset pricing anchor" dances! AI super bull market faces "stress test" again.

Due to the escalating tensions between the US and Iran pushing up oil prices, and exacerbating market expectations for a possible interest rate hike by the Federal Reserve this year, prices of US Treasury bonds fell accordingly, heading towards the largest drop in over two weeks.

Hong Kong mortgage securities company: Net loss narrowed to HK$109 million in 2025, a year-on-year decrease.

On June 3, Hong Kong Mortgage Corporation Limited issued its 2025 annual report, reporting a net loss of HK$109 million for the year, compared to a net loss of HK$418 million in 2024.

Sun Dong: The Hong Kong government has initiated a review to optimize the listing mechanism to meet the financing needs of the aerospace industry.

As a global leading listing platform with numerous companies from various jurisdictions and the second largest private equity fund management center in Asia after mainland China, the Hong Kong Treasury Bureau actively promotes the Securities and Futures Commission and the Hong Kong Exchanges and Clearing Limited to explore and expand channels for corporate financing, closely following international trends and continuously optimizing Hong Kong's listing system to facilitate companies from different industries to list in Hong Kong.

Chen Maobo: Cross-border capital flows will drive demand for trust and wealth management services in Hong Kong.

The Financial Secretary of Hong Kong, Paul Chan, pointed out that the increasing geopolitical tensions are driving a need for diversification in asset allocation, as well as the global trend of innovation and technology, which will lead to more cross-border capital flows and therefore create a greater demand for trust and wealth management services in Hong Kong.

Southbound funds bought a net of 18.682 billion Hong Kong dollars today.

In terms of the Shanghai-Hong Kong Stock Connect, Ying Fu Fund and Tencent Holdings respectively received net purchases of 5.717 billion Hong Kong dollars and 1.205 billion Hong Kong dollars; Lenovo Group ranked first in net sales, with an amount of 874 million Hong Kong dollars; in terms of the Shenzhen-Hong Kong Stock Connect, Ying Fu Fund and Hang Seng China Enterprises received net purchases of 1.816 billion Hong Kong dollars and 1.661 billion Hong Kong dollars respectively; Changfei Fiber Optic Cable ranked first in net sales, with an amount of 509 million Hong Kong dollars.

Banks in many places are increasing their lending according to regulations.

Reporters have learned from various channels that many banks in recent days are increasing their credit lending efforts in accordance with the attention and guidance of relevant departments. Some interviewed bank officials revealed that they plan to encourage eligible branches to supplement their lending volume through operating loans, personal mortgage loans, and even bill financing. Regarding credit risk control, many interviewees told reporters that there is currently no obvious trend of relaxing risk standards. For banks, it is still necessary to maintain a balance between expanding lending and controlling risks.

FTSE China 50 Index adjustment: includes GigaDevice Semiconductor Inc. (03986), YOFC (06869), removes CHINA TOWER (00788), etc.

The FTSE China 50 Index includes ZTE (03986) and Yangtze Optical Fibre and Cable Co. (06869), and removes China Tower (00788) and CRRC (01766).

FTSE China A50 Index Adjustment: Includes GigaDevice Semiconductor Inc. (603986.SH), Montage Technology (688008.SH) and other stocks.

On June 3rd, FTSE Russell announced changes to the quarterly review of the FTSE China Index Series.

80 million barrels of crude oil stranded at sea: Iran's zero oil exports shock the global energy market.

According to a non-profit consulting organization in the United States, Iran attempted last month to break through the US Navy blockade in order to export energy, but was unsuccessful. Approximately 80 million barrels of oil and petrochemical products are stuck in the waters behind the blockade line.

Oil price surge triggers speculation of "selling gold to save the market"? India's central bank remains firm: gold proportion not decreasing but rising

In response to market rumors about its selling of gold, the Reserve Bank of India clearly denied them and emphasized that its physical holdings are stable. However, data shows that the central bank may be reducing its gold reserves while making significant purchases of foreign exchange assets.

Energy impact tears apart European economy! PMI plummets to 18-month low, Eurozone plunges into "stagflation" abyss.

The Eurozone economy is entering a typical "stagflation pressure" range, that is, economic activity continues to contract, demand weakens, employment cools, but input costs and output prices rise again.

ZHIHU-W (02390) released its first-quarter financial results, with adjusted net profit of 17.2 million yuan, a year-on-year increase of 147.2%.

Zhihu Group (02390) released its first quarter performance for the three months ending March 31, 2026. The group achieved total revenue of 651.5 million Chinese Yuan (same unit below), a decrease of 10.7% year-on-year; Zhihu's net loss attributable to shareholders was 8.504 million Yuan, a decrease of 15.75% year-on-year; adjusted net profit was 17.2 million Yuan, an increase of 147.2% year-on-year.

The selling of 32 bitcoins shatters market beliefs! Strategy reducing holdings intensifies the deviation between cryptocurrencies and tech stocks, leading to a major migration of "smart money" into AI infrastructure.

After Strategy sold off a small amount of its cryptocurrency inventory, the selling spree of Bitcoin continued to spread, shaking market sentiment and widening the gap between the token and record-breaking tech stocks.

"Why did Berkshire buy in at this time? Will Beijing Zhidemai Technology enter after Alphabet Inc. Class C (GOOGL.US) financing $80 billion on a bold bet on AI?"

Despite Google's announcement of an $80 billion equity financing causing a short-term stock price drop, the stock still has significant investment value in the long term due to its aggressive investment in AI infrastructure, strong moat, and underrated fundamentals, along with the contrarian endorsement from Berkshire Hathaway.

The central bank continues to reduce the scale of reverse repurchase agreements to zero, but the policy stance of "maintaining ample market liquidity" remains unchanged.

In early June, the central bank's reverse repurchase operations gradually reduced. Today, it was further reduced to 0. It is worth noting that on August 7, 2024, the central bank's 7-day reverse repurchase operations also amounted to 0, with a similar background to the current situation, mainly due to the lack of funding demand from financial institutions. Data shows that as DR001 and DR007 decreased at the beginning of the month, on June 1, the yield on 1-year interbank certificates of deposit fell to 1.4275%, hitting a new low. On June 2, it continued to remain at this low level, possibly triggered by the continuous reduction of the central bank's open market reverse repurchase scale to 0 at the beginning of the month. Wang Qing, chief macro analyst at Orient Securities, said this may be mainly due to the lack of sustained significant increase in government bond issuance in the short term, moderate credit expansion, and a decrease in commercial banks' financing demand from the central bank. From this trend, buy-back reverse repurchase transactions for the two term varieties in June may continue to decrease. Wang Qing predicts that in the future, the central bank will also flexibly conduct open market operations based on changes in major market interest rates such as DR001, DR007, and interbank certificate of deposit yields, guiding market interest rates to stabilize around policy rates through a combination of quantity and price.

Meta challenges part of the EU DMA law and wins some victory: Marketplace gatekeepers identified overturned, Messenger still constrained.

The second highest court of the European Union ruled on Wednesday, partially supporting Meta's appeal, overturning the decision of the European Commission to classify its trading platform Marketplace as a "gatekeeper," but at the same time rejecting its appeal regarding the classification of its instant messaging app Messenger as a similar type.

Energy shock impact is less severe than sluggish employment. The OECD predicts that the Bank of England will hold steady this year and cut interest rates in 2027.

The Organization for Economic Cooperation and Development expects that, despite rising inflation, the Bank of England will keep interest rates unchanged this year, as the energy shock will be "temporary" and the weak UK job market will restrain price pressures.

31 flights on the Sino-Japanese route were cancelled in May.

The latest statistics from Flight Manager DAST show that a total of 31 flights on Sino-Japanese routes were canceled in May, an increase compared to April. In total, there were 1,592 flights from mainland China to Japan canceled in May, with a cancellation rate of 37.6%.

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Market news: Four months ago, Gabriel Oliveira, the head of Meta Metaverse, quietly resigned.

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Bank of Korea: South Korea's foreign exchange reserves were $426.99 billion as of the end of May, compared to $427.88 billion at the end of April.

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