Cointime

Cointime

Download App
iOS & Android
Home / Point

Starmer Officially Steps Down as UK Prime Minister: My Work is Complete

UK Prime Minister Starmer delivered a farewell speech at Downing Street, stating, "My work is complete. Over the past six and a half years, I have led our party out of the historic defeat of 2019, transforming it into a party capable of facing the nation, and we achieved an overwhelming victory in the 2024 election. Since then, it has been the honor of my life to serve as Prime Minister for you and this great country. I believe that today’s Britain is stronger and fairer than it was two years ago. However, what I will always remember is the humbling aspect of this job, which is being able to witness the greatest things of this country in action from the front row. Every day, I see countless acts of resilience—resilience, perseverance, integrity, and compassion from those who serve the nation." Starmer concluded, "We must remember the greatness of Britain. As we debate how to solve problems, there are certain things we inherit from our nation and character that give us the confidence to believe we can make the country better. We can create a Britain where every child can go further based on their talents, and if we do not succumb to division, we can unite different people under a common banner. Therefore, as I now pass the baton to Andy Burnham, I wish him all the best. He has my full support... I thank the people of Britain for the opportunity to serve. I leave with dignity, I leave with a smile, and I am proud of all we have achieved." (Jinshi)

Comments

All Comments

Recommended for you

  • South Korea's Stock Market Margin Balance Falls to Lowest Level Since April

    According to data from the Korea Financial Investment Association, as of July 16, the margin balance used for financing stock purchases has fallen to 33.4 trillion won (approximately 22.6 billion US dollars), the lowest level since April 15. This figure represents a 13% decline from the peak of 38.6 trillion won at the end of June. Other data suggest that retail investors' enthusiasm for stocks in South Korea may be cooling. According to the Korea Financial Investment Association, investor deposits fell to 108.1 trillion won on July 16, down from a high of 139.7 trillion won on June 4. (Jin10)

  • U.S. Stock Storage Concept Stocks Rise in After-Hours Trading

    On July 21, SanDisk and SK Hynix rose over 4% in after-hours trading, Micron Technology rose over 3%, and Western Digital rose nearly 3%.

  • Hong Kong Stock Storage Concept Gains Expand; Southern 2x Long Samsung Electronics Surges Over 14%

    On July 21, Southern 2x Long Samsung Electronics surged over 14%, and Southern 2x Long SK Hynix rose over 9%. GigaDevice gained nearly 12%, while Montage Technology rose over 9%.

  • Star 50 Index Surges Over 5%, Semiconductor Sector Rebounds

    On July 21, the STAR 50 Index rose over 5%, and the semiconductor sector rebounded across the board. Among the constituent stocks, Hua Hong Semiconductor rose over 14%, and GalCore Micro rose over 13%.

  • Ant International Completes ~$1.2B Series A Funding with Ant Group, Alibaba Group Participation

    On July 21, according to market sources, Ant International announced today that it has completed a Series A funding round. Ant Group, along with some existing shareholders including Alibaba and multiple international investment institutions, participated in this round. The funding amount is approximately $1.2 billion, which will be used to expand global business, accelerate investment in cutting-edge technologies such as AI, broaden inclusive fintech services like cross-border payments and global accounts, and help global merchants achieve growth.

  • Korean stocks rise over 4%

    On July 21, the Korea KOSPI index rose over 4% intraday, and Samsung Electronics rose over 6%.

  • HKEX to Advance Listing Reforms, Allowing Confidential Filing and Lowering Market Cap Requirements

    According to the South China Morning Post: HKEX will advance listing reforms, allowing confidential submission of listing applications and lowering market capitalization requirements. (Jin Shi)

  • Zhipu's Stock Surges 19% as It Lands 1GW-Level AI Computing Data Center

    Zhipu's stock price surged as much as 19% during trading. According to Yicai, Zhipu AI (Z.ai) has completed the construction of a 1GW-level domestic AI computing data center, using all domestic AI chips. Additionally, it has completed the acquisition of Zhongke Jiahe, a domestic AI heterogeneous computing software company, today.

  • UBS: Chinese AI models expected to gradually gain global market share

    On July 21, UBS issued a report stating that it believes China's open-source ecosystem will accelerate technology diffusion and generate R&D synergies, helping more Chinese AI labs narrow the capability gap with global peers. Although Chinese AI developers have smaller funding scales compared to overseas counterparts, the capability breakthrough and architectural innovation of Kimi K3 released by Moonshot AI are expected to alleviate investor concerns about training compute constraints or model distillation. The bank reiterated that cost efficiency remains a core advantage of Chinese AI models and believes that as the industry shifts toward token optimization, they are expected to gradually gain global market share. UBS said it holds a positive view on Chinese cloud vendors Alibaba, Tencent, Baidu, and Kingsoft Cloud, driven by industry tailwinds from AI training and inference demand; it is particularly bullish on Alibaba due to the progress of its Qwen 3.8 and its strategic exposure to Moonshot AI.

  • GF Strategy: South Korea Stock Market Enters Early Stage of Deleveraging, Risks Far from Cleared

    On July 21, the GF Strategy team noted that the recent KOSPI decline exhibits characteristics of 'low valuation and high panic.' The index has retreated significantly from its June peak, yet valuations remain at historical lows, indicating that the decline is not primarily driven by valuation bubbles. The risks stem more from the over-concentration of weights in Samsung Electronics and SK Hynix, as well as market concerns over AI capital expenditure, memory景气 (sentiment), and earnings sustainability. Leverage in the South Korean stock market mainly comes from margin financing, leveraged ETFs, and on- and off-exchange derivatives, which differ significantly in terms of investment entities, transmission mechanisms, and risk transparency. Currently, the scale of domestic leveraged ETFs in South Korea has been reduced by 28.3%, while margin financing has only fallen 9.3% from its peak, indicating that it is still in the early stages of deleveraging. On-exchange derivatives remain at historical highs, suggesting that deleveraging is gradually transitioning from leveraged ETFs to margin financing and derivatives. The current KOSPI deleveraging has begun, but the progress in clearing margin leverage and trading structure leverage is clearly diverging. The expansion of leveraged ETFs has been the main source of increased leverage in the funding side during this period. Currently, after the early sharp decline and redemptions, South Korean retail investors have shown signs of a slight rebound in net subscriptions. Historical experience shows that deleveraging typically goes through 'an initial rapid release—rebound with leverage rebalancing—multiple rounds of oscillating reduction—return to historical averages,' and the complete process may take about a year. Considering that margin financing and derivative deleveraging in South Korea are still insufficient, and ETF funds have experienced periodic inflows, it is too early to conclude that the current deleveraging has ended. Overall, KOSPI is still in a phase of deep price adjustment and initial leverage release, but has not yet formed a systemic liquidity crisis. The current ratio of unsettled margin calls remains within a normal range, indicating no large-scale margin shortfalls or forced liquidations among retail investors. However, the coexistence of foreign and institutional position reductions, retail absorption, and leveraged fund inflows leaves the market in a relatively unstable period of chip redistribution. Going forward, three risk transmission chains should be closely monitored: first, widening net outflows from foreign investors and weakening retail absorption, driving the market from chip switching to incremental selling; second, leveraged ETFs shifting from contrarian subscriptions to redemption on declines; third, simultaneous deterioration in margin financing, derivative margin requirements, and unsettled margin calls, which could escalate local adjustments into a resonance of active and passive deleveraging.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company