On July 1, Meta's increase expanded to over 10%, with a total market capitalization reaching $1.57 trillion. Meanwhile, cloud service providers saw significant declines, with Nebius dropping over 14.5% and CoreWeave falling over 13%.
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Meta's Increase Exceeds 10%, Market Capitalization Reaches $1.57 Trillion
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U.S. Stocks in Optical Communication Sector Drop Pre-Market
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Pre-market Decline in U.S. Storage Stocks
In pre-market trading, U.S. storage concept stocks experienced a widespread decline, with Micron Technology falling by 4.8%, SanDisk dropping over 4%, Corning down more than 2%, and Intel decreasing by over 3%. -
Two Departments: Support for Reinsurance Institutions to Increase Capital and Issue Supplementary Capital Tools
On July 7, the National Financial Supervision and Administration Bureau and the Shanghai Municipal Government released several measures to accelerate the construction of the Shanghai International Reinsurance Center. Among these measures, they proposed to enhance the quality and efficiency of the reinsurance industry, support reinsurance institutions in increasing capital and expanding shares, and issuing supplementary capital tools to improve the capacity for internal capital accumulation and external capital supplementation, thereby strengthening the reinsurance industry's capabilities. The initiative aims to guide the insurance industry to focus on major national projects, strategic emerging industries, and livelihood security, consolidating insurance and reinsurance underwriting capabilities to enhance risk protection levels. It also supports reinsurance institutions in leveraging their professional technical advantages to assist the insurance industry in reducing risk.
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