- Dow Jones futures up 124 points (+0.2%)
- S&P 500 futures up 0.4% and Nasdaq-100 futures up 0.5%
- Brent crude rose 0.8% to $72.57/bbl; WTI up 1.1% to $70/bbl
- Tech-heavy indices remain weak, with the S&P down 3% month and Nasdaq down over 6%
June 28, 2026
▲ 19▼ 22◆ 14– 99
Markets 4
- Foreign investors are increasing their holdings of U.S. equities and bonds
- The U.S. dollar remains the dominant global reserve currency
- Recent inflows challenge the earlier 'sell America' narrative
- Onshore IPO activity in China shows a rebound after a year of decline
- Artificial intelligence and semiconductor companies account for the bulk of new listings
- Regulatory reforms and supportive policies are encouraging domestic tech IPOs
- FAW Jiefang and Foton are rolling out more electric heavy‑duty trucks.
- Government subsidies are cutting ownership costs and encouraging domestic uptake.
- Export demand is growing, with Southeast Asia and Africa earmarked as key growth regions.
Macro/Economy 21
- Inflation is rising again, with supply disruptions risking entrenched expectations
- AI-driven investment surge is seen as a potential over‑investment bubble, raising job‑security concerns
- Record‑high public debt and sovereign bond exposure to leveraged hedge funds create a new fiscal‑financial stability nexus
- Core bond markets show fragility due to elevated valuations and reliance on non‑bank financing
- Philippines records the fastest per‑capita growth in solar capacity worldwide
- Sharp increase in electricity tariffs is spurring demand for solar installations
- Government incentives and net‑metering schemes are accelerating the solar rollout
- CBI confidence index for business growth fell to its lowest point in 2024
- Only about a third of companies expect revenue growth, down from the previous quarter
- Pessimism rises amid cost pressures and weak consumer demand
- Negotiations on the state‑enterprise chapter were concluded in the 9th round on June 25 in Brussels.
- Enterprises with annual commercial revenue under US$200 million are exempt, and governments may support SOEs in crises.
- Q1 2026 bilateral trade rose 13.6% YoY to $12.2 billion, with the EU as Thailand's fourth‑largest trading partner.
- The chapter paves the way for lower or zero tariffs, expected to boost Thai exports of agriculture, food, automobiles and parts.
- Both sides aim to complete the full FTA by year‑end, bringing completed chapters to 11 of 24.
- Bangkok Metropolitan Administration controls a 92.7 billion baht budget for city projects.
- The capital houses 8.2‑11 million residents and saw 30.3 million foreign arrivals last year.
- Governor urged to set up welcome centres, tighten flood and traffic controls, and enforce land‑tax policies to spur growth.
- Around 5,000 micro‑SMEs (revenues under 30 million baht) require stronger BMA backing amid a sluggish economy.
- USDA reports whey protein inventories down roughly 50% since 2023
- Whey protein isolate prices have risen to about $14 per pound
- 70% of Americans now aim to increase protein intake, spurred by GLP‑1 drugs and fitness trends
- Dairy processing capacity is constrained; plant upgrades cost $15‑$150 million
- Analysts expect the price spike to moderate as new capacity comes online
- Study reveals a large proportion of Hong Kong seniors living below the poverty line
- Demographic trends project a sharp rise in elderly poverty over the next decades
- Proposed pension reforms could lessen the impact but will require years to take effect
- Nations plan to expand nuclear generation capacity substantially over the next few decades
- Sanctions on Russian energy products are driving a shift toward alternative uranium fuel sources
- New fuel technologies are seen as key to diversifying energy mixes and enhancing long-term security
- Government sets target of 60% renewable electricity in the power mix by 2040.
- Private sector investment in solar and wind projects is accelerating under supportive policies.
- Egypt's geography—vast deserts, high solar irradiance and strong wind corridors—offers strong renewable potential.
- Current electricity generation remains heavily fossil‑fuel based, making the transition a long‑term effort.
- 58% of surveyed Americans say owning a home is needed to achieve the American Dream.
- Renting now costs less than buying in every major U.S. metro, according to a January LendingTree analysis.
- Higher‑income households have driven rental demand over the past 5‑10 years, boosting premium‑amenity rentals.
- Mortgage payments average $2,200 versus $2,900 rent for a typical two‑bedroom townhouse (Boston example).
- Slower home‑value appreciation makes equity buildup longer than in previous decades.
- IRA assets reached $19.2 trillion at end‑2025, versus $10.1 trillion in 401(k) plans
- In 2023, rollovers added $682 billion to IRAs while direct contributions were only $89 billion
- About 6 million people rolled money into IRAs in 2023, up from ~4 million in early 2000s
- Forecasts project IRA rollovers to hit $941 billion in 2026 and $1.3 trillion in 2031
- More than 11,000 Americans turn 65 each day, fueling retirement‑age rollover activity
- European Council introduced the term "global macroeconomic imbalances" to describe the EU's trade deficit and dependency issues.
- EU leaders debated prioritising new weapons procurement before fully diagnosing the underlying economic problems.
- Commission President Ursula von der Leyen was assigned to address these imbalances, signalling a shift toward structural reforms.
- USTR proposes 12.5% tariffs on Thailand, Vietnam and the Philippines for lacking forced‑labour import bans.
- Malaysia and Cambodia face 10% tariffs, reflecting commitments to introduce such systems within two years.
- The investigation is seen as a lever to enforce U.S. trade conditions rather than a pure human‑rights probe.
- ASEAN is urged to coordinate customs, certification and non‑tariff reforms to advance a single market.
- Bain forecasts US new vehicle sales could fall by >2 million units to around 14 million by 2040
- Birth rate at 1.6 per woman and halved immigration are expected to curb population growth, limiting auto demand
- Monthly car payments are up 30%, with 1 in 5 new vehicles costing >$1,000 per month, pressuring affordability
- Registrations for ages 18‑34 fell below 10% in mid‑2025, while buyers 55+ hold nearly 50% of new registrations
- Vehicle longevity hit a record 12.8 years in 2025, lowering deregistration rates to an estimated 4.4% by 2040
- China eliminated import tariffs for 53 African nations, opening its market to African goods
- UN forecasts Africa's GDP to grow 4% in 2026, underscoring the continent's growth outlook
- African exporters, such as Kenyan avocado producers, anticipate higher margins from Chinese demand
- The tariff removal is expected to reshape trade flows and deepen China-Africa economic ties
- Finance Secretary Paul Chan says Hong Kong can add value to Beijing's "China Opportunity 2.0" narrative
- Hong Kong positioned as a bridge and catalyst for global expansion of mainland Chinese enterprises
- Northern Metropolis megaproject highlighted as a hub for commercialising research and deepening tech collaboration
- Chinese tourists now constitute a sizable share of Malaysia's arrivals, largely funneled through the RedNote app
- RedNote-driven bookings have accelerated the post‑COVID tourism rebound, lifting hotel occupancy rates
- Heavy reliance on a single foreign platform creates volatility risk if user engagement shifts
- Appraisal gap to be reduced from 30-40% to 20-25% below market prices
- New appraisal rates effective Jan 1 2027 through Dec 31 2030; current rates hold through 2026
- Higher loan values for borrowers, but increased land tax and transfer fees for owners
- Surat Thani land prices rose 117% over the 2023-26 measurement period
- Vacant land rights transfers fell to 115,000 plots in Q1, down from 123,000 YoY
- Social Security benefits are exempt from state income tax in many states.
- Deferring benefits can increase the eventual monthly payout.
- High earners weigh tax-free state treatment against the value of earlier payments.
- Public health agency estimates 1,000 excess deaths in France during the heatwave.
- The majority of fatalities involve older individuals, with additional deaths in care homes pending.
- Authorities caution the death count may increase as more information is gathered.
- Design‑savvy Singapore travelers are flying to China specifically for home furnishings
- Trips focus on sourcing custom sofas, cabinets and other furniture rather than leisure activities
- Travelers bring detailed plans, Pinterest boards and precise measurements to guide purchases
Central Banks 1
- Japan's top banks and JBIC have begun financing the first tranche of projects from the US‑Japan tariff deal.
- Private sector firms are requesting government and BOJ assistance to secure more US dollars for subsequent investment rounds.
- Officials warn that obtaining additional foreign‑exchange without market disruption will be challenging.
Energy/Oil 7
- Global clean energy investment reached $1.4 trillion in 2025, surpassing fossil fuel investment for the first time
- Renewable energy accounted for 83% of global power generation capacity additions in 2025
- IEA expects clean energy to become the dominant source of global power generation by 2030
- Oil prices climb amid renewed US‑Iran airstrikes in the Persian Gulf
- Fears of a Strait of Hormuz closure lift risk premium on crude
- US stock‑index futures tick higher despite geopolitical tension
- Sovereign wealth funds hold roughly $29 trillion in assets worldwide.
- Funds are increasing allocations to energy, especially oil and gas exposures.
- The reallocation is driven by worries about a weakening U.S. dollar.
- Higher sovereign demand could support crude prices and benefit oil producers.
- Talks to end the US‑Iran war are on hold after US jets struck 10 Iranian targets in the Strait of Hormuz.
- Oil prices dropped: Brent fell 4.34% to $71.99/barrel and WTI fell 3.74% to $69.23/barrel.
- The M/T Kiku tanker was carrying over 2 million barrels of crude when hit, but vessel transits continue.
- Iran retaliated by hitting US‑linked sites in Kuwait and Bahrain with missiles and drones.
- US officials say technical cease‑fire talks remain scheduled despite the escalation.
- Ukrainian drones set fire to a major southern Russian oil refinery, killing at least two people.
- The attack is part of a recent surge in long-range strikes on Russian energy and military facilities.
- President Vladimir Putin said Russia is experiencing a "difficult period" amid mounting war pressures.
- The incident could temporarily curb Russian crude output and weigh on global oil prices.
- HK Electric has received no gas from Qatar since March following Iranian strikes on production facilities.
- The cut off removes a significant portion of fuel for the Lamma Island power plant, prompting higher electricity tariffs for customers.
- CEO Francis Cheng warns steeper supply costs will pressure the utility's earnings.
- Aramco-owned helicopter crashed in Ras Tanura, killing 14 Saudi nationals.
- Crash occurred near the strategic Strait of Hormuz, a major oil shipping route.
- Aramco resumed crude oil loadings at Ras Tanura terminal on Friday after a four‑month halt.
- Authorities have opened a full investigation; cause of the crash is still unknown.
Crypto 14
- BIS says private digital tokens fall short of sound‑money requirements
- The bank urges policymakers to speed up tokenised central‑bank and commercial‑bank money
- Warning that widespread stablecoin use may fragment the global financial system
- EBA proposes penalty framework that could levy fines up to 12.5% of a token issuer’s annual revenue
- Fines target “significant” token issuers that fail to comply with new EU crypto regulations
- The proposal aims to enforce the EU’s MiCA rules, marking the first major enforcement action
- Potential impact could raise compliance costs for major crypto projects operating in Europe
- Bitcoin fell below $60,000, down ~7% this week and ~12% in Q2 after a 22% drop in Q1.
- Ether slid about 9.5% this week and is down roughly 25% in the second quarter.
- Outflows from U.S. spot Bitcoin ETFs, a hawkish Federal Reserve and a strong dollar pressured crypto prices.
- Binance shuts down services in Europe after failing to obtain a regulatory license.
- EthLabs, a new nonprofit backed by BitMine and Ethereum co‑founder Joe Lubin, aims to accelerate Ethereum adoption.
- The move highlights growing regulatory scrutiny of crypto platforms in the EU.
- CZ wants the US to become the "capital of crypto" and push Binance.US to use Binance Global liquidity
- He cites AI fund shifts, geopolitical events and the typical four‑year cycle as drivers of a 2026 crypto bear market
- CZ served four months in prison in 2024 for Bank Secrecy Act violations but says it hasn't harmed his reputation
- No Senate hearings are scheduled; only 20 working days remain before the Sep 1 deadline for the pending crypto bill
- Past July gains suggest Bitcoin could climb toward $75,000
- Key support level sits near $55,000; breach would keep downside risk
- Heavy short positions increase upside potential if price rebounds
- Market sentiment remains mixed as price hovers near support
- Mow says Bitcoin's price bottom is set after an all‑time high 37 days before the April 2024 halving.
- Analysts point to bear crosses on 50‑week/100‑week averages and the 200‑week level, warning of possible drops to $40,000‑$55,000.
- Forecasts range from a $55,000 bottom by Aug‑Oct 2024 to a $40,000 trough within six months.
- Spot Bitcoin ETFs have spurred institutional demand, fueling debate over the traditional four‑year cycle.
- Strategy now holds 847,363 BTC worth $50.9 bn (avg cost $75,653 per coin) as of June 28 2026
- Saylor says the firm will need more charts, indicating intent to keep buying bitcoin
- MSTR shares fell 8% to $86 and later to $82.31 (down 3.54%), raising dividend‑coverage concerns
- Company’s dollar reserves are said to cover roughly 10 months of dividend payouts
- SBI pays $289 million for Bitbank, doubling its crypto custody assets to about ¥1.1 trillion.
- The acquisition adds nearly 1 million customer accounts, making SBI a leading regulated exchange in Japan.
- New Japanese digital‑asset rules are spurring consolidation, with 144 crypto M&A deals totalling $11.8 bn in 2026.
- Framework Ventures raised a $400 million fund focused on tokenization, stablecoins and frontier tech
- The fund targets financing of capital‑intensive sectors such as AI compute hardware, robotics and energy infrastructure
- Over $300 billion of stablecoins circulating on‑chain are cited as a capital source for asset‑backed lending
- Investments include Daylight (solar financing) and Uranium Digital (tokenized uranium marketplace)
- Binance saw net outflows exceeding $400 million in the latest week
- Outflows occurred despite rivals' efforts to attract users before the EU MiCA rollout
- No clear sign of a mass migration from Binance was detected
- The EU MiCA deadline is approaching, increasing regulatory focus
- Grayscale research head Zach Pandl recommends selling $3 bn of Bitcoin.
- Sale intended to cover Strategy's cash obligations and restore investor confidence.
- CryptoQuant argues Strategy has other ways to support its holdings.
- Two outages on Thursday and Friday lasted 116 minutes and 20 minutes respectively
- Bug stemmed from a race condition that left stale journal state after an invalid transaction
- Base’s single sequencer architecture caused the halt; patch applied to fix journal state update
- Previous outages: 17 minutes in Sep 2024 and ~30 minutes in Aug 2025
- UTXO profit-loss ratio fell to its lowest level of the current bear market, a signal historically linked to market bottoms
- The metric last hit similar lows in mid-2023 when Bitcoin slid to around $26,000
- Bitcoin price dipped to $59,800 on Sunday before rebounding above $60,100
- Analysts say long-term holders are entering capitulation while short-term inflows to exchanges drive the correction
Geopolitics 31
- Israel launched air strikes on southern Lebanon a day after a US‑brokered cease‑fire framework was signed
- Hezbollah rejected the agreement, calling it a surrender, and protests erupted in Beirut
- One Israeli soldier, Capt. David Hazutt, was killed and another wounded in the renewed fighting
- The deal ties Israel's withdrawal to Hezbollah's disarmament, raising doubts about its durability
- Iran’s foreign minister urged the US to pressure Israel to halt the strikes
- Ukrainian attacks on Russian energy sites have caused a "certain shortage" of fuel, though Putin says it is not critical.
- Crimea declared an emergency over fuel shortages and power cuts following strikes on logistics and oil facilities.
- Recent drone strikes hit the Slavyansk refinery in Krasnodar and a refinery near Moscow, sparking fires.
- Putin pledged to boost anti‑aircraft defenses and ensure fuel supplies to Crimea while signaling openness to US‑led peace talks.
- US and Iran agreed to pause retaliatory strikes in the Strait of Hormuz and will hold technical talks in Qatar on Tuesday.
- Iran's IRGC said it destroyed eight US military sites in Kuwait and Bahrain, and Iran claims control of the Strait for the next 30 days.
- Markets shifted risk‑off, boosting the US Dollar Index (DXY) and WTI crude as investors await progress in US‑Iran negotiations.
- Risk‑off sentiment lifts safe‑haven assets while risk assets face pressure amid ongoing Middle East tensions.
- Iran's top diplomat said any ship avoiding Iran's chosen Hormuz lane will increase tensions
- Warning follows renewed US‑Iran naval attacks despite a Pakistan‑mediated ceasefire that began in April
- Threats to the Strait of Hormuz could disrupt oil shipments and lift crude prices
- Israeli drone strike in al‑Salatin, north Gaza kills at least two and wounds one.
- Airstrike on a tent in Khan Younis injures several; a 13‑year‑old girl killed by tank shrapnel.
- Israeli forces restrict worship at Al‑Aqsa Mosque and block the call to prayer at Ibrahimi Mosque for the eighth consecutive day.
- West Bank raids lead to arrests of dozens, including journalists and activists.
- Gaza Health Ministry reports death toll at 73,054 and 173,480 wounded since Oct 7.
- The United States retains the world’s largest economy and defense budget, underpinning its global influence.
- Emerging challenges include rising national debt, political polarization, and growing competition from China.
- Strong alliance networks such as NATO and extensive bilateral ties help sustain U.S. superpower status.
- Analysts expect the U.S. to maintain its preeminent position in the near to medium term despite these headwinds.
- China announced new offshore RMB financing facilities and expanded cross‑border trading at the Lujiazui Forum
- The initiatives are linked to the start of the 15th Five‑Year Plan, making finance a national strategic priority
- Beijing aims to build infrastructure to reduce reliance on the U.S. dollar, though analysts doubt rapid dollar displacement
- New liquidity lines will be offered to foreign central banks and sovereign investors, deepening Shanghai's international finance role
- The push is framed as a geopolitical effort to dilute dollar‑centric financial power
- Iran launched missiles and drones at US military sites in Bahrain and Kuwait
- The strikes follow a tentative interim deal aimed at halting a four‑month war
- Both Tehran and Washington accuse each other of breaching the agreement
- President Trump warned the US could "militarily complete the job"
- Israel reported hitting Iran‑backed Hezbollah militants in southern Lebanon
- President Aleksandar Vucic said he will step down within weeks, without setting a specific date.
- Thousands of demonstrators gathered in Kraljevo and Belgrade, maintaining pressure on the government.
- Protesters reference the December 2024 Novi Sad railway station roof collapse that killed 16 as a corruption symbol.
- Analysts warn Vucic may move to the prime‑minister post, preserving his party's grip on power.
- The EU has condemned Serbian police for detaining hundreds of protesters during the unrest.
- Russian attacks caused five fatalities in Ukraine
- Local officials confirmed the deaths
- Incident adds to ongoing conflict casualties
- No further details on location or damage provided
- Andy Burnham is the sole declared candidate to succeed Keir Starmer as UK prime minister
- He will unveil a governance plan to devolve authority from London to regional bodies
- Burnham won a parliamentary seat earlier this month and returned to Westminster
- The transition could see him in Downing Street within weeks
- Rats infest displacement camps across Gaza, increasing health risks
- Overcrowded shelters face piles of garbage and overflowing sewage
- Doctors report rising cases of severe skin diseases among displaced families
- Sanitation and medical care remain inadequate, worsening public health crisis
- The Democratic Republic of Congo has lodged a case at the ICJ accusing Rwanda of direct involvement in the eastern DRC war.
- Kinshasa seeks a court order forcing Rwanda to halt support for armed groups and to pay reparations to victims and the government.
- The filing marks a formal legal escalation amid ongoing high tensions between the two neighboring countries.
- International actors are monitoring the case, hoping the ICJ process could aid broader diplomatic efforts to end the conflict.
- Israeli forces destroyed olive trees in Zububa village, west of Jenin in the occupied West Bank.
- The demolition follows a broader pattern of attacks on Palestinian farmland and olive groves.
- Olive groves are a vital agricultural resource for Palestinians, heightening food‑security concerns and regional tensions.
- Keir Starmer resigns after a brief tenure as UK prime minister
- Andy Burnham is expected to become the UK's seventh prime minister in ten years
- Media environment reshaped by Brexit and the rise of Reform UK presents new challenges
- Both sides accuse each other of breaching the newly signed MOU on navigation in the Strait of Hormuz
- The United States claims Iran attacked commercial vessels, while Tehran blames the US for violating navigation rules
- The incident occurs just days after the agreement, raising concerns over regional security and oil shipping
- Lebanon and Israel signed a US‑brokered 14‑point framework agreement after months of direct talks
- Protesters in Beirut, many waving Hezbollah flags, condemned the deal for not mandating Israeli troop withdrawal
- The conflict since October 2023 has killed over 4,200 people and displaced hundreds of thousands since early March
- Agreement states Israel has no claim to Lebanese territory and LAF will assume authority in the south pending Hezbollah disarmament
- Chinese FM Wang Yi met Iran's security council deputy in New Delhi to discuss reconstruction cooperation.
- Beijing aims to position itself as lead contractor for rebuilding Tehran after war.
- Strategy targets long‑term access to Iran's oil reserves as US influence recedes in the region.
- Rep. Julia Letlow defeated state Treasurer John Fleming in the GOP runoff to claim the Senate nomination.
- Trump endorsed Letlow, underscoring his influence in the primary as Cassidy, a Trump critic, placed third in the first round.
- Letlow is now the favorite in the heavily Republican state ahead of the November general election against Democrat Jamie Davis.
- Trump's backing highlights his continued sway over Republican primaries, though its impact on the general election remains uncertain.
- Five members of Israel's Arab minority died in a single day of violent incidents.
- Two fatalities resulted from car bomb explosions in Jaffa and Holon.
- Three additional deaths occurred in separate killings within Arab communities.
- Police link all four incidents to organized or criminal violence.
- Authorities note an escalation in criminal violence across the country.
- Prime Minister Ali al-Zaidi ordered a sweeping anti-corruption drive
- Security forces detained several politicians, lawmakers and senior officials in Baghdad
- Elite Counter Terrorism Service units carried out dawn raids in the Green Zone
- The operation marks a high‑profile crackdown on corruption within Iraq's government
- Chinese defense firms showcased air-defence systems at the Eurosatory fair, targeting export markets.
- Analysts say China's lower prices could win contracts in the Global South, but lack of combat-proven pedigree hampers sales to NATO-aligned nations.
- The surge in drone warfare in Ukraine and the Middle East is boosting global demand for advanced air-defence solutions.
- Japan and South Korea launched fighter jets in response to a joint Russian-Chinese bomber patrol.
- The patrol was the 11th joint operation since 2019 and the first in 2024.
- Aircraft flew over the Sea of Japan, East China Sea and western Pacific, per the PLA Air Force.
- Japan's defence ministry tracked two separate flights during the incident.
- Pakistan's navy took delivery of PNS Hangor on June 11, the first of an eight‑submarine class.
- Four of the submarines are built in China; the remaining four will be constructed in Pakistan.
- The arrival revives a historic rivalry, recalling the 1971 sinking of a Pakistani sub by India.
- The move signals Pakistan's intent to boost its naval presence in the Bay of Bengal amid regional tensions.
- Former transport minister Chadchart Sittipunt wins a second term as Bangkok governor.
- Exit polls estimate his vote share between 53% and 75%.
- He inherits ongoing challenges of floods, traffic congestion and pollution.
- The election was marked by high voter turnout and a clear lead across districts.
- Law on Promoting Ethnic Unity and Progress, passed in March, will take effect next month
- Article 63 extends liability to overseas persons and organisations deemed to undermine ethnic unity
- Analysts say the measure is intended as a deterrent against Western ideological influence
- The legislation signals Beijing's tighter control over diaspora narratives
- AI rivalry described as a new cold war pitting the United States against China
- Analysts argue no single nation can match the combined capabilities of the two superpowers, urging multilateral collaboration
- Deutsche Telekom and NVIDIA showcase AI infrastructure with the Industrial AI Cloud data centre
- Beijing and Pyongyang are using the Ukraine war as a model to accelerate their own weapons development
- Both nations are expanding drone production and networked warfare capabilities
- The shift highlights a broader trend of conflict-driven innovation influencing civilian sectors
- Trump labeled Democratic mayoral nominee Janeese Lewis George a "communist" in a Truth Social post
- He warned that George would "destroy" Washington if elected
- Trump highlighted his own development plans, including refurbishing a Potomac-area golf course
- George won the Democratic primary, positioning her as the likely winner in the heavily Democratic city
- Pritam Singh faced a special conference called by 25 WP cadres demanding his resignation.
- Around 79% of the 107 cadres present voted against the no-confidence motion.
- The landslide vote allowed Singh to retain leadership of Singapore's main opposition party.
- PM Rob Jetten delivered a formal apology on June 21 to the Malukan community.
- The community comprises roughly 75,000 people, descendants of migrants who arrived 75 years ago.
- Apology targets systemic mistreatment of first‑generation Malukans; reactions are mixed, with calls for concrete actions.
Tech/AI 19
- Chinese firms provide 30% of AI-related imports to the US
- Companies like CATL, Victory Giant, and Foxconn Industrial Internet have doubled in value over the last 12 months
- Optical and networking names like InnoLight and Eoptolink are key contributors to China's AI edge
- China now leads the US in GPS‑style navigation, space‑based reconnaissance and anti‑satellite (ASAT) tech, according to a US think‑tank report.
- The report highlights a rapidly expanding Chinese commercial space sector backed by strong state support.
- China is narrowing the innovation gap with the United States in key strategic space technologies.
- Five mega-cap tech firms (Amazon, Alphabet, Microsoft, Meta, Apple) face growing political and public scrutiny over data-center builds.
- Investors view recent returns as sub‑par, questioning earnings potential versus other equities.
- White‑collar job‑loss concerns rise amid automation, while blue‑collar labor shortages persist.
- SpaceX IPO hype is seen as unrelated to alleviating data‑center cost pressures for these companies.
- Apple introduced the M3 Pro AI chip delivering up to 30% faster machine‑learning performance
- iOS 18 will embed on‑device AI in over 50% of native apps, expanding generative features
- Apple announced an AI‑as‑a‑service subscription at $9.99 per month for developers
- The company set a roadmap to double AI‑related patents by 2028
- NHTSA and NTSB opened investigations into Tesla's Full Self-Driving system after a fatal Texas crash
- Tesla settled a lawsuit tied to a 2023 fatal crash involving its FSD technology
- Waymo is on track to import 3,156 Ojai robotaxis to the U.S. in 2024, roughly 300 per month
- Aseon Labs raised $10 million in seed funding; Terawatt Infrastructure secured a $300 million credit facility for EV charging depots
- Lyft announced a multi-sensor safety standard that excludes single-camera autonomous vehicles like Tesla's FSD
- Firmus will deliver 170,000 Nvidia GPUs from Q1 2027 to early 2028 for AI cloud services
- Deal targets up to $30 billion in revenue for Firmus over the first six years
- Nvidia will earn product revenue and a share of cloud revenue from the partnership
- Firmus raised $1.35 billion in the past six months, valuing it at $5.5 billion and eyeing a potential IPO
- China's commercial space market is estimated at about 1 trillion yuan, with insurance limited to mandatory third‑party liability.
- Hong Kong insurers see a gap in coverage for R&D, manufacturing, testing, launches and in‑orbit operations, offering a growth opportunity.
- Elon Musk's record‑breaking SpaceX IPO has brought the space economy into mainstream finance, highlighting the insurance shortfall.
- Austria's digitalisation chief proposes the EU create a legal and market framework for Anthropic within Europe.
- The move aims to counter recent US measures that limit foreign access to Anthropic's most advanced AI models.
- It aligns with the European Commission's recent proposals to strengthen domestic AI, cloud and semiconductor industries and reduce reliance on US Big Tech.
- Sodium‑ion batteries projected to capture 20% of battery market by 2030 and 37% by 2035
- Global capacity expected to reach 830 GWh by 2030, rising to 2.4 TWh by 2035
- $800 bn of new investments anticipated for the sodium‑ion sector through 2035
- Sodium‑ion cells are 30‑40% cheaper than Li‑FePO4 and perform better in cold weather
- GM holds exclusive U.S. manufacturing rights; analysts see up to 20% upside for GM shares
- Google informed Meta in March it could not meet the requested Gemini AI capacity, imposing usage limits
- The shortfall delayed several internal Meta AI projects and prompted staff to conserve AI tokens
- Google Cloud revenue reached $20 billion in Q1, but computing constraints kept growth below potential and doubled its backlog quarter‑on‑quarter
- Other Google Cloud clients also experience reduced access, though to a lesser extent
- China’s CRAFT project fires up the largest superconducting magnet ever built for a nuclear fusion reactor
- The magnet, comprising a toroidal-field coil and a central solenoid, passed all final performance tests
- Successful test clears a major engineering hurdle toward achieving sustained plasma confinement
- UPI processes over 750 million daily transactions, targeting more than 1 billion daily.
- NPCI plans to deploy AI for fraud detection, credit distribution and multilingual onboarding.
- AI-powered voice assistants and small language models are in development; FIMI model already serves over 1 million users.
- Regulators may cap UPI app market share at 30% by Dec 31 2026 to encourage competition.
- HK$2.84bn (US$364m) allocated to build a semiconductor centre
- HK$3bn dedicated to an AI subsidy scheme for adoption projects
- HK$1bn set aside for an advanced AI research and development institute
- Officials aim to accelerate AI uptake, but critics call for broader vision and realistic targets
- Penalties for non‑compliant platforms will be doubled, raising maximum fines per breach
- Regulator will gain expanded powers to enforce age‑verification and blocking measures
- The crackdown targets major platforms such as Instagram, TikTok, Snapchat, YouTube, Facebook, Twitch and Reddit
- Japan's Ministry of Internal Affairs and Communications will roll out eight new communications infrastructure projects.
- Projects focus on undersea cable networks and satellite communications to boost regional connectivity.
- The initiative targets the Indo-Pacific, linking Japan with Taiwan, India and other partner economies.
- Goal is to strengthen economic security and digital ties amid growing geopolitical competition.
- California law prohibits streaming ads louder than accompanying video, effective July 1.
- The rule applies only to California for now; similar legislation is slated for Illinois next year.
- Streaming platforms have not disclosed compliance plans, and industry groups argue ads already meet volume standards.
- Book argues that convenience technologies have stripped sensory texture from daily activities
- Cites the decline of stick‑shift cars and automated airport restrooms as examples of dematerialization
- Suggests reclaiming gratification through ordinary sensory experiences rather than broad societal change
- Digital health records give clinicians full patient history for better care
- AI-driven diagnostic tools can analyze data to support treatment choices
- Insurers' role in dictating treatment plans is challenged by expert and AI input
- Retail price is $500 for the premium smart ice maker.
- Can produce nugget ice in as little as 6 minutes and up to 60 lb per day.
- Offers app and voice control, operates at ~40 dB, and includes customizable lighting.
- Dimensions are 17.3×14.0×17.0 in and it weighs about 50 lb.
Companies 14
- Kunlunxin, Baidu's AI chip subsidiary, plans a Hong Kong initial public offering.
- Target valuation for the IPO is set at $50 billion.
- The Information reports the plan, citing two unnamed sources.
- If completed, it would rank among the largest tech listings in Hong Kong this year.
- Reuters has not yet verified the report.
- Volkswagen plans to end its collaboration with Bosch on automated driving technology
- The move signals a shift in VW's strategy for autonomous vehicle development
- Bosch may lose a key automotive partner, affecting its self‑driving unit revenue
- Analysts expect both firms to reallocate resources to alternative partnerships
- Self-rejection now accounts for ~50% of failed property transfers, surpassing bank loan rejections at 40%
- Conventional buyer cancellations represent the remaining ~10% of failed transfers
- Sena's Livnex rent‑to‑own scheme has 900‑980 participants, with 187 completions and about 100 exits; 80 customers become eligible for unit transfers this year
- Company targets 400‑500 unit transfers (~1 bn baht) by year‑end and aims to cut debt‑to‑equity to 1.0 from 1.2‑1.3
- Residential revenue share fell to 62% from 78%, while green business revenue rose to 13% of total
- Ford will rehire 350 veteran engineers, many from suppliers or former staff
- AI-driven automated quality systems fell short, prompting the move
- Ford expects the rehiring to reduce costs by $1 billion this year
- Ford topped the JD Power Initial Quality Survey among mainstream brands
- Williams Companies (WMB) is close to finalizing a $5.5 bn purchase of Momentum Midstream.
- The deal would broaden Williams' midstream assets in the Permian and Gulf Coast regions.
- Closing is targeted for the second half of 2026, pending regulatory approvals.
- Financing will combine cash and debt, with limited immediate impact on earnings.
- Micron's market cap hit roughly $1.27 trillion, briefly overtaking Meta and Tesla
- Shares rose about 236% in the past month, closing at $1,132
- Q3 revenue jumped to $41.45 billion (4× YoY) and profit to $28.2 billion
- Company projects Q4 revenue of $49‑$51 billion and has sealed 16 strategic customer agreements
- AI-driven memory shortage expected to persist into 2027, underpinning demand for Micron's DRAM and HBM
- Micron's profitability set to rank just behind Nvidia and Google among U.S. companies
- AI memory demand drives big‑tech customers to pay premium prices
- Micron forecasts a sharp earnings turnaround, targeting double‑digit profit growth this year
- 14 nationals died when an Aramco helicopter crashed in Ras Tanura, Saudi Arabia
- The crash occurred shortly after Aramco resumed crude oil loadings after a nearly four‑month halt
- Authorities are investigating the cause of the accident
- The incident follows a recent surge in Middle East oil output ahead of a US‑Iran cease‑fire deal
- BofA raises Credo Technology (CRDO) price target to $340 from $252, lifts FY27‑28 sales outlook 2‑11% and EPS 5‑15%
- Evercore ISI maintains buy on Meta Platforms (META) with $930 price target, citing new AI-driven subscription suite
- Guggenheim reiterates buy on Pinterest (PINS) with $24 target, noting AI-powered ads now account for ~30% of lower-funnel revenue and tvScientific acquisition could add ~2 ppt to quarterly growth
- Semiliquid funds often impose high fees on unrealized (paper) gains.
- Fee arrangements can significantly erode net returns for investors.
- Private-equity managers benefit from fee income even when assets are not sold.
- Global functional drinks market valued at $160 bn, driven by health‑focused millennials and Gen Z.
- Around 75% of millennials and 80% of Gen Z consumers regularly purchase functional beverages.
- Starbucks reports protein coffee sales comparable to flat whites, pricing $5.75‑$6.75 per drink.
- Danone’s acquisition of Huel valued at $1.15 bn; Pepsi’s purchase of Poppi valued at $2 bn.
- Over half of surveyed consumers are willing to pay a premium for health‑benefitting drinks.
- Mitsubishi Heavy Industries will invest more than $618 million in its Japan and U.S. gas turbine businesses.
- The firm plans to double large gas turbine production capacity by fiscal 2030 compared with 2024 levels.
- Growth is driven by rising data‑center power demand and new gas‑fired plant construction, particularly in the United States.
- Morningstar reduces Reece's fair value by 2%, setting it at A$10.30 per share.
- The prior fair‑value estimate was roughly A$10.51, indicating a modest downgrade.
- The adjustment suggests limited upside for the stock in the near term.
- Lin Heung Lau's Sheung Wan branch spent more than HK$200,000 on World Cup‑related marketing.
- Around 30 customers gathered to watch the South Africa vs South Korea match in the restaurant.
- Management expects the football‑focused initiative to boost foot traffic and sales.
Thai Markets 3
- President Bakery plans 5 billion baht investment over three years, allocating 2 billion baht each for a new Lat Krabang plant and a flour mill, both targeted for 2028 completion.
- The company aims to add up to 100 electric vehicles per year, upgrading its fleet despite logistics costs staying 10‑20% above pre‑war levels.
- Tokyu, Saha Pathana Inter‑Holding and Saha Tokyu sign MOU to study development of 700 rai in Si Racha, with a three‑year feasibility period covering commercial, office, residential and education projects.
- Around 7,000 Japanese expatriates reside in Si Racha, supporting confidence in continued foreign investment in Thailand.
- Average Thai life expectancy: men 85, women 88; retirees need 20‑30 years of funding
- Only 17% have 3‑6 months of emergency savings; 45% of elderly have no savings; 64% of savers hold <100,000 baht
- To sustain 15,000 baht/month for 20 years requires ~4 million baht; 20,000 baht/month to age 90 needs ~5.5 million baht (4% return)
- Bank deposit rates <1% lag inflation (~1.3%); cash‑only retirees would need ~7.2 million baht for a 30‑year retirement
- Diversified portfolios across assets and geographies are urged to mitigate longevity and inflation risk
- Daily trading turnover sits at 40-45 bn baht; profitability improves if it reaches 60 bn baht.
- Investment accounts grew from ~2 m to 3 m over the past decade, but only ~14% of Thais actively invest.
- Brokers are expanding into wealth management, investment banking and DRs to offset falling commission income.
- M&A activity remains limited despite regulator push, with consolidation expected to favor larger, bank-affiliated firms.
Other 40
- Death toll confirmed at 1,430 after twin 7.2 and 7.5 magnitude quakes near La Guaira.
- More than 50,000 people reported missing; at least 33 rescued over the weekend.
- International rescue teams from the US, El Salvador, Peru, Colombia and Mexico participated.
- A 60-year-old woman was rescued after being trapped for 86 hours.
- EU pledged €5 million and the US pledged $150 million in humanitarian assistance.
- Twin earthquakes of magnitude 7.2 and 7.5 struck Venezuela's La Guaira region
- At least 1,430 people killed and more than 3,200 injured
- Over 50,000 individuals remain missing as rescue teams search collapsed buildings
- Three firefighters killed while fighting the Knowles and Gore fires on the Utah-Colorado border
- Nearly 3 million acres (1.2 million ha) have burned in the U.S. this year, exceeding the 10‑year average
- Over 30 wildfires remain uncontained nationwide; Utah and Colorado have declared state emergencies
- Governors activated emergency measures, including a fireworks ban in Utah and National Guard deployment in Colorado
- Eligible Medicare beneficiaries can obtain obesity drugs for a $50 monthly copay under the Bridge demonstration program beginning July 1.
- The program runs through 2027 and requires prior authorization; enrollment is not automatic and patients must be in a Part D plan.
- A June survey shows 82% of adults 65+ are unaware of the upcoming coverage, with similar lack of awareness across political lines.
- Novo Nordisk and Eli Lilly’s GLP‑1 drugs have seen heavy advertising, but no public campaign targets seniors for the new benefit.
- CMS plans limited outreach before launch, aiming to expand promotion after the program is live.
- HK regulator flags prediction market activities could fall under “financial products” rules
- At least one international brokerage is already running a prediction‑market platform in Hong Kong
- Legal opinions diverge on whether existing laws clearly separate financial products from illegal gambling
- Europe experiences unprecedented heatwave, with temperatures hitting record highs
- French health officials say death toll from heat-related illnesses is expected to increase
- Multiple countries have issued heat alerts and are taking emergency measures
- UK charities predict a surge in domestic abuse calls coinciding with the tournament
- Past World Cups saw up to a 20% increase in reported incidents in host nations
- Experts cite factors such as heightened alcohol consumption, stress and large crowds as drivers
- Authorities are urged to bolster support services and hotlines ahead of the event
- Powerful quake kills hundreds and leaves thousands missing
- Thousands displaced, many sleeping outdoors without shelter
- Search and rescue operations continue in hardest-hit areas
- Police detained at least 50 individuals, including a journalist.
- The Pride march continued despite a local authority ban.
- Authorities sealed off Taksim Square and limited subway service in Kadikoy.
- Father signed a forgiveness letter for his girlfriend who killed their 18-month-old son by kicking him in the belly
- The incident occurred in Guangdong province; the child's mother, the father's ex-wife, demanded a thorough investigation
- The couple had been married for over a decade and had two sons together
- JIL celebrated its 25th anniversary, founded in March 2001.
- The network has been in disarray for most of the past decade.
- Traditional Islamic bodies NU and Muhammadiyah face elite co-option for state resources.
- Liberal and progressive Islamic movements in Indonesia are losing relevance.
- Executive Council member Dr. Lam Ching-choi urges expansion of mental health services to all students, not just high‑risk ones
- Increasing social‑media influence linked to rising mental‑health concerns among Hong Kong youth
- Prominent local tycoon pledges to mobilise young philanthropists to address the growing problem
- Canada beat South Africa 1-0 in the group-stage match
- The game was part of the 2026 FIFA World Cup tournament
- The original live page has been closed; a summary is available online
- 17-year-old Thai girl discovered dead in a suitcase in Pattaya
- Australian suspect Simon Peter Carman, in his 40s, arrested at Suvarnabhumi airport
- Police have charged him with murder, concealment of a body and moving a corpse
- Pattaya is located about 150 km (93 miles) east of Bangkok
- Bay Area matches attracted higher-than-expected attendance despite "boring" label
- Local fans showed strong support, contradicting predictions of low interest
- Sponsorship and merchandise sales rose modestly, indicating growing enthusiasm
- Two seismic events occurred in Venezuela
- Quakes described as capricious, violent, and arbitrary
- Potential humanitarian and infrastructure impacts anticipated
- Farmer placed more than 170 surveillance cameras on his hillside orchard in Badong, Hubei.
- The camera forest was intended to boost compensation under a local land purchase scheme.
- Videos of the camera setup went viral on social media, prompting widespread speculation.
- Local village committee later explained the purpose of the cameras.
- Customs seized more than 12 kilograms of cocaine concealed in coffee and chocolate packets.
- The drugs were valued at approximately 36 million baht.
- Arrest took place on June 25 after the suspect arrived from São Paulo, Brazil.
- Iran finished third in Group G with three points from three draws, failing to advance.
- A VAR decision in the 93rd minute nullified a potential winning goal against Egypt.
- Iran needed three other match results to go its way, but all three (Croatia‑Ghana, DR Congo‑Uzbekistan, Algeria‑Austria) went against them.
- Ireland won the two-match T20 series 2-0, beating India by 34 runs in the first game and by 1 run in the second.
- Harry Tector scored 50 on his 100th T20 international appearance as Ireland posted 154-8.
- India's chase fell short at 153-9 despite a 55 from Tilak Varma and 21 from Harshit Rana.
- Teen prodigy Vaibhav Sooryavanshi was left out of India's squad for both matches.
- Pope Leo expressed solidarity with Venezuelans following two deadly quakes
- Official death toll reported at least 1,400 people
- Approximately 68,000 individuals remain missing after the disasters
- Netherlands (FIFA rank 7) vs Morocco (rank 6) on June 29
- USA faces Bosnia on July 1 as Pochettino restores first‑choice lineup
- Portugal (rank 8) meets Croatia (rank 13) on July 2, featuring Ronaldo (41) and Modric (40)
- Argentina vs Cape Verde on July 3, pitting Messi (39) against goalkeeper Vozinha (40)
- France takes on Sweden on June 30 after a 4‑1 reserve win over Norway
- Scaled the three highest UK mountains within a 24‑hour period
- Climb aimed at raising funds for a cancer charity
- Kate Middleton is in remission after chemotherapy
- Naturwissenschaften removed the two Planck papers from its archive, leaving only a blank page
- The papers date from the 1940s and were withdrawn without detailed explanation
- Historians Yves Gingras and Mahdi Khelfaoui identified the retractions via Retraction Watch and posted a preprint on arXiv
- Algeria's World Cup match sparked a major controversy
- FIFA responded by amending tournament regulations
- The incident is described as one of the biggest scandals in World Cup history
- George Russell wins from pole, his second victory of the season
- Antonelli leads the drivers' standings with 171 points, Russell at 131 (40‑point gap)
- Mercedes leads constructors' championship with 302 points, ahead of Ferrari's 204
- Max Verstappen finishes 1.6 seconds behind the winner after a qualifying crash
- Undergrad, HKU's longest-running student newspaper, shuts down after 74 years of operation.
- The 2025 editorial committee failed to recruit enough members for a new board despite two recruitment drives since September.
- The closure takes effect immediately, ending the campus news outlet's presence.
- Children as young as 7 are now being referred for online gaming addiction counselling in Hong Kong.
- Counselling centre reports a growing number of younger children seeking help, with roughly 70 recent cases.
- Experts warn the trend could signal a broader societal issue as digital habits become entrenched early.
- Hospital sent a letter after gallbladder surgery asking for a financial contribution in a caregiver's honor
- The request included a question about the patient's favorite caregiver
- The author raises concerns about the appropriateness of soliciting donations from patients post‑treatment
- Eleven people dead, including the pilot and ten parachutists
- Aircraft was a small plane used by a parachuting school
- Crash occurred shortly after take‑off in Tomblaine, near homes
- Victims comprised five trainee skydivers and five instructors
- 401(k) withdrawals trigger ordinary income tax and a 10% early‑withdrawal penalty if under age 59½.
- Using retirement savings reduces future retirement security and may affect compound growth.
- Explore alternatives first, such as a family loan, debt‑consolidation loan, or using other liquid assets.
- If a withdrawal is unavoidable, consider a qualified hardship distribution to mitigate penalties.
- Fifth installment of a six-part Health Matters series examines the hidden psychological burden of cancer patients in Hong Kong.
- 67-year-old retiree diagnosed with breast cancer in June 2024 and lung cancer in 2025.
- Support programmes that promote mindset changes are reported to improve patients' coping and mental wellbeing.
- One pedestrian killed and two seriously injured after minibus mounted pavement on Argyle Street
- Accident occurred near Kowloon City Court at about 5:48 pm
- Vehicle was traveling from Mong Kok to Tsz Wan Shan
- 13 passengers and the driver also sustained injuries
- Hundreds of residents and former residents assembled in Kwun Tong overnight.
- People photographed the Yue Man Square and Tung Yan Street signs before demolition.
- The area will be permanently closed as roads are removed for redevelopment.
- The gathering highlighted community attachment to the historic town centre.
- Police seized 241 kg of suspected cocaine, valued at HK$180 million (about US$23 million).
- Three suspects, including the alleged mastermind, were arrested during the operation.
- The raid at Aberdeen Typhoon Shelter marks the largest cocaine bust in Hong Kong over the past year.
- Hong Kong star Stanley Yau's iPhone was found for sale in Shenzhen after being lost.
- Experts warn that retrieving stolen devices from mainland China is challenging.
- Recommendations include remote lock, data wipe, and using strong passwords to prevent breaches.
- Users advised to enable device tracking and report loss to authorities promptly.
- Survey shows rising popularity of Korean musical adaptations in major Chinese cities
- Chinese theatregoers cite tight logic and engaging plots as reasons for preference
- Western shows see slower ticket growth compared to Korean imports
- Amber rainstorm warning issued at 11:10 am Sunday
- Warning lasted roughly 3½ hours
- Cancellation announced Sunday afternoon
- Bulu, a 4-year-old German shepherd trained for narcotics detection, refused food and water while awaiting handler Awei.
- The emotional reunion video attracted millions of views online.
- Yunnan police confirmed the incident occurred in Chuxiong, Yunnan province.
- Tourist information centre recorded a 50% increase in foreign visitors year to March 2026.
- Growth linked to anime fans traveling to see Crayon Shin-chan related sites.
- A Spanish couple highlighted the trend by visiting with Shin-chan plush dolls.
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