On July 2, Beijing Junzheng stated during a specific audience survey that NOR Flash currently accounts for over 30% of storage. There have been price increases in both the first and second quarters of this year, although the increase is somewhat smaller than that of DRAM. While production capacity is tightening, overall, it is relatively better, leading to a moderate price increase. The first quarter also saw substantial revenue growth, primarily driven by an increase in volume. This year, we have observed significant growth in the fields of AI servers and optical modules.

According to Saudi Arabia's Al Arabiya television, sources have stated that the next round of negotiations between the United States and Iran will take place on July 18.

On July 2, U.S. Democratic Senator Elizabeth Warren called on Federal Reserve Governor Christopher Waller to stop his efforts for a comprehensive reform of the operations of the 12 regional Federal Reserve Banks. Warren stated that Waller's proposed reform plan appears to be inconsistent with federal law and suggested that it could undermine the independence of the Federal Reserve. Although Waller, as chair of the Federal Reserve Board's Reserve Bank Affairs Committee, has some oversight authority, the regional banks were established as highly autonomous entities that can independently control their daily operations. Warren said, 'Rather than being a serious reform proposal for the Federal Reserve, it seems more like a carefully orchestrated plan to please President Trump, who seeks more power over the regional bank presidents. I urge you to immediately halt the advancement of this proposal and provide more information to Congress.'

On July 2, at around 16:40, the DeepSeek service status page indicated abnormal performance for the website/API. By approximately 17:50, the status page reported that the issue had been resolved and the service was restored. (Jinshi)

On July 2, lithography giant ASML announced an increase in its annual revenue guidance, primarily due to the continued growth in demand for advanced lithography equipment related to AI chip manufacturing. Leading foundries such as TSMC and Samsung are accelerating the adoption of high numerical aperture EUV lithography machines to meet the demand for AI accelerators, further enhancing the certainty of capacity expansion for advanced processes at 3nm and below. Industry experts believe that ASML's upward revision is seen as a barometer for the overall semiconductor equipment industry, confirming that AI capital expenditures are still in an expansion cycle. Order data from equipment leaders like Applied Materials and Lam Research also validate the strong demand on the equipment side, as the capacity expansion for advanced processes is moving from the planning stage to actual procurement. The extended equipment delivery cycles further corroborate the tight balance between supply and demand.

On July 2, documents from the Hong Kong Stock Exchange revealed that Tencent Holdings repurchased 1.1 million shares at a cost of HK$500.8 million.

According to official sources reported by Jinse Finance, Standard Chartered Bank has launched USDC minting and redemption services for institutional clients based in the Dubai International Financial Centre (DIFC). The bank also becomes the first among Global Systemically Important Banks (G-SIBs) to offer USDC deposit and withdrawal clearing services to institutions through compliant banking channels.

Southbound Double Long Hynix (07709.HK) has dropped over 30%.