On June 30, Hong Kong stocks displayed a significant structural divergence. The Hang Seng Index and the Hang Seng China Enterprises Index both fell by 0.63% and 0.62%, respectively, while the Hang Seng Tech Index surged by 1.8%. The technology and semiconductor sectors became the core driving forces behind the Hang Seng Tech Index's strong performance, while traditional cyclical sectors faced noticeable pressure, becoming the main contributors to the declines in the Hang Seng Index and the China Enterprises Index. Specifically, major technology stocks continued their rebound from yesterday, with Baidu rising by 5%, Tencent by 2.28%, Meituan by 1.26%, and JD.com also showing gains. The semiconductor sector, PCB concept stocks, and optical communication concepts saw renewed explosions, with ASMPT rising by 10%, SMIC by 5.4%, and Changfei Optical Fiber Cable by 6.68%, while Hua Hong Semiconductor also strengthened and reached a historical high. AI application concepts were equally strong, with Zhizhu rising over 7%, Yidu Tech up by 6.4%, and Lenovo Group increasing by over 8%. On the other hand, gold stocks fell sharply as spot gold and silver continued to decline, with several stocks like Everest Gold hitting new lows for the year. Energy sectors such as oil and coal stocks performed poorly throughout the day, while airline stocks, domestic banks, and property stocks all experienced declines. (Gelonghui)
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Tech Index Soars 1.8%, Technology and Semiconductor Sectors Surge, Traditional Sectors Decline
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US Secures Over $6 Billion for Ukraine Through Weapon Assistance Mechanism
On June 30, according to CCTV, on June 29 local time, U.S. Permanent Representative to NATO Julianne Smith stated in an interview that through the 'Ukraine Priority Needs List' mechanism proposed by the U.S. and NATO, the U.S. has received over $6 billion in funding and plans to continue advancing this mechanism. The 'Ukraine Priority Needs List' mechanism, proposed by the U.S. and NATO, allows NATO countries outside the U.S. to provide funding to procure or transfer existing U.S. weapons to Ukraine, ensuring 'rapid' delivery of 'large quantities' of military aid to Ukraine. According to U.S. officials, this mechanism allows NATO member countries wishing to donate weapons to Ukraine to bypass the lengthy U.S. arms sale process and accelerate the procurement process. The Russian government has repeatedly emphasized that the provision of weapons to Ukraine by the West hinders a peaceful resolution to the Russia-Ukraine conflict and directly involves 'NATO countries in this conflict.' Russia has repeatedly warned that all weapons delivered to Ukraine will become legitimate targets for the Russian military. -
NVIDIA Robotics Team Hiring in Beijing, Shanghai, and Shenzhen
On June 30, NVIDIA announced on June 29 that its robotics team is open for recruitment, focusing on four core areas: embodied intelligence, simulation, deployment, and solution architecture, with positions available in Beijing, Shanghai, and Shenzhen. According to NVIDIA, the embodied intelligence team will concentrate on key technologies and applications such as dexterous manipulation, wearable sensor human modeling, full-body mobile manipulation, and full-body control, aiming to develop the next generation of general-purpose robotic systems. The simulation team is responsible for building the core simulation and training infrastructure for next-generation robots, enabling them to learn efficiently in virtual environments and transition more quickly and reliably to real-world scenarios. The deployment team focuses on algorithm optimization for humanoid robots and the practical implementation of embodied intelligence, while the solutions team aims to integrate NVIDIA's cutting-edge technology into practical applications in industries such as manufacturing and services. -
CCTV Comments on Cambrian's Market Value Surpassing 1 Trillion: A Milestone Requires Clear-headed Resolve
On June 30, CCTV published an article stating that Cambrian's market value surpassed 1 trillion yuan, marking it as a milestone hard-tech enterprise on the Sci-Tech Innovation Board. As the board approaches its seventh anniversary, this event is not only a significant milestone for the capital market but also a key point for observing the iteration of the A-share sci-tech ecosystem and the breakthrough of the domestic computing power industry. However, the more the market focuses on this event, the more it is necessary to shed the halo of market value and view the current challenges with clarity. Firstly, the pressure of matching valuation with performance cannot be ignored. Currently, the market has high expectations for the AI sector, and the valuation includes both the company's technological advancements and the domestic substitution benefits brought by the external environment. High valuations are a double-edged sword; they can provide ammunition for research and development but also mean that if subsequent product launches or performance releases fall short of expectations, there will be pressure for valuation adjustments. Secondly, domestic AI chips still need to overcome challenges to move from 'usable' to 'user-friendly.' Objectively, domestic chips have reached usable levels in inference scenarios and computing power fields, but there remains a gap in high-end large model training computing power hardware and developer ecosystem construction compared to international top levels. Thirdly, there is a need to be wary of the industry’s restlessness induced by the heat of market value. Under the demonstration effect of a trillion yuan market value, the sector may face issues such as overheating in financing and intensified homogeneous competition. Some companies may also be distracted by stock price fluctuations, focusing on short-term market value management at the expense of long-term technological research and development, which poses a hidden concern for the long-term development of the hard-tech industry. -
Major U.S. Tech Stocks Mixed in Pre-Market Trading, SpaceX Down 0.7%
On June 30, major U.S. tech stocks showed mixed results in pre-market trading, with Microsoft up 0.6%, Amazon up 0.5%, NVIDIA up 0.3%, Meta up 0.2%, Apple and Alphabet A unchanged, Tesla down 0.4%, and SpaceX down 0.7%. -
Dan Bin: The AI Wave is Unlikely to End in Three to Four Years, Industry Cycle May Follow a Decade Similar to the Internet Era
On June 30, Dan Bin, Chairman of Dongfang Harbor, stated at the Gelonghui Mid-Year Strategy Summit: My basic judgment is that the era of artificial intelligence will have a long industrial cycle, similar to that of the internet era. ChatGPT was announced at the end of 2022, and if we refer to the historical rhythm of the internet 'ten years after announcement,' that point (around 2033) is likely to be a reference window for risk assessment. Before that, the industrial development of AI is unlikely to conclude in three to four years. However, short-term market fluctuations and localized bubbles do exist, and investors must rationally assess their situations. -
Lyon: Korean Kospi Index Pullback of 15% to 25% is an Attractive Entry Point, Favoring Samsung Electronics and SK Hynix
On June 30, Lyon released a report stating that the South Korean government, along with Samsung and SK Group, announced a massive artificial intelligence (AI) investment plan totaling over 475 trillion won, covering semiconductors (320.6 trillion won), physical AI (undisclosed amount), and AI data centers (up to 155 trillion won). Although the investment timeline extends to 2035 and beyond, the bank believes the short-term impact is limited, but this move strengthens the long-term AI investment cycle and industry positioning. Based on this theme, Lyon's preferred companies include Samsung Electronics, SK Hynix, Samsung C&T, Hyundai Motor, Hyundai Mobis, Samsung E&A, and Naver. Regarding the Kospi index, the bank continues to view a pullback of 15% to 25% as an attractive entry point, while the recent 14% decline provides a compelling opportunity (unless systemic risks arise). -
A-Shares Conclude First Half of the Year with 4 Stocks Surging Over 1000%
As of June 30, the A-shares concluded the first half of the year, with 1,695 stocks in the Shanghai, Shenzhen, and Beijing markets having risen this year. Four stocks have recorded cumulative gains exceeding 1000%, namely Lianxun Instruments (2736.26%), C Zhenbao (1448.72%), Dapuwei (1329.47%), and Changjin Photonics (1009.08%), belonging to the general equipment, semiconductor, semiconductor, and communication equipment industries respectively. In total, there are 377 stocks with cumulative gains of 100% or more. -
Brent Crude Oil Futures Drop by 1%
On June 30, Brent crude oil futures fell by 1%, trading at $73.15 per barrel. -
Gold Prices Pressured by Fed's Hawkish Stance, Expected to Record Largest Monthly Decline Since Late 2008
On June 30, gold prices fell, likely marking the largest monthly decline since October 2008. On a quarterly basis, gold is also set to record its first quarterly drop since 2024, with the decline being the largest since the second quarter of 2013. Although the situation in the Middle East remains uncertain, the market is currently more concerned about the extent to which the U.S. will act to control inflation. Marex analyst Edward Meir stated that the combination of high inflation, expectations of high interest rates, and a strong dollar has suppressed all the usual reasons that support rising gold prices. Christopher Wong, a precious metals strategist at OCBC Bank, pointed out that gold bulls need to see at least one turning point—either a decline in real yields, a weakening dollar, or a significant easing of the market's hawkish expectations for the Fed. Until then, any rebound in gold prices is unlikely to be sustained and is more likely to experience repeated fluctuations below previous highs. -
Spot Silver Price Increases by 2%
On June 30, the spot silver price increased by 2% during the day, reaching $59.46 per ounce.
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