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📡 Hourly News Brief | 00:00-01:00

1. The farewell ceremony for the late Supreme Leader Ayatollah Khamenei of Iran was held in Tehran, with millions of people taking part in mourning and chanting anti-American slogans.

2. Russia and Ukraine carried out large-scale mutual strikes. The Russian military said it has taken control of four settlements in Kharkiv Oblast and attacked 142 areas of Ukraine’s infrastructure.

3. Trump said the U.S. and Iran decided to pause talks for a week. During Khamenei’s funeral, neither side will fire, and Netanyahu may visit the White House next week.

4. Investment and financing markets were active. AI infrastructure drew in capital: Kuaishou’s Lingxi AI (Kuaishou Ke Ling AI) raised $3 billion, and SpaceX issued $25 billion in bonds.

5. The number of full-time jobs in the U.S. fell in June by 514,000 to 133.66 million, the lowest since December 2024, with declines for three consecutive months.

6. Crypto markets were volatile. Sui’s mainnet peak TPS topped 6 million, and nearly one million investors lost $3.8 billion due to Trump meme coins.

7. OpenAI paused its UK data center project due to regulatory issues and high energy costs, and began developing its own AI chips, while also talking with Samsung about contract manufacturing.

8. Iran plans to charge service fees for shipping through the Strait of Hormuz according to international standards, to ensure safety and environmental protection.

📡 Hourly News Update | 23:00-00:00

1. A trader closed a position at a stop loss after failing to short five times in a row, losing $3.5 million within three days, highlighting the high risks of leveraged trading.

2. Turkish President Erdoğan said that Israel must not obstruct the U.S.-Iran agreement, stressing that without support from regional countries, maintaining peace in the Middle East is impossible.

3. Nvidia will take a portion of cloud business revenue from some customers, promising to provide funding as a backstop for emerging cloud providers in exchange for the right to repurchase idle GPUs.

4. Bitcoin has broken above $63,000. In the past 24 hours, total liquidations across the market reached $239 million, with the biggest surge in short positions; market sentiment is strongly bullish.

5. Russian President Putin signed amendments to the tax law, allowing the production of high-octane fuel for use in vehicles and subsidizing importers to address a fuel crisis following attacks on oil refineries in Ukraine.

6. ByteDance’s Seedance video generator—leveraging low price, high realism, and a timeline prompt feature—has made progress in Hollywood.

7. Wang Yi met with Sweden’s Foreign Minister Tobias Billström, emphasizing that China-Sweden relations are warming up and moving in a positive direction, and hoping Sweden will uphold the One-China principle.

8. The next round of negotiations between the U.S. and Iran will be held on the 11th. They will discuss issues such as frozen funds and nuclear matters. Trump said Iran is very eager to reach an agreement.

📡 Daily News Roundup | July 04

Over the past 24 hours, global markets have been choppy amid a mix of factors, including a cooling macro data backdrop, escalating geopolitical risks, and an accelerating industry transformation in AI. Surprise weakness in the U.S. non-farm payrolls data has dampened expectations of further rate hikes; the U.S. dollar logged its biggest weekly drop since April, supporting a rebound in gold and Bitcoin. Meanwhile, tensions in the Middle East have remained elevated, with heightened safe-haven sentiment driven by disputes over the Strait of Hormuz and the escalation of the Russia-Ukraine conflict. At the same time, AI and semiconductor financing activity has been strong, and the domestic chip replacement trend is becoming clearer—though a signal worth watching is rising memory chip prices alongside signs of tightening tech companies’ spending. Overall sentiment is cautiously optimistic, as investors focus on next week’s U.S.-Iran negotiations and non-farm payrolls revisions.

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📊 Global Macros

1. U.S. June non-farm employment data came in unexpectedly weak, cooling market expectations for additional Fed rate hikes. The dollar index is likely to post its largest weekly decline since April, while the euro and pound have strengthened. Allianz’s chief economist warned that the Fed may have to raise rates again in September, as inflation is expected to peak at above 3.7%.

2. The central bank announced that on July 6 it will conduct a RMB 1,000 billion (10 trillion yuan) buyout-style reverse repo operation with a 3-month term to keep ample liquidity in the banking system. Domestic refined oil prices recorded the largest single drop this year, with cuts of more than RMB 900 per ton.

3. Germany’s draft budget for 2027 plans to add borrowing of more than €203 billion, with defense spending rising to €130.1 billion, to address economic weakness and geopolitical risks. ECB President Christine Lagarde will unusually attend next week’s meeting of EU finance ministers in person.

4. Extreme heat has swept across the U.S. Northeast and Midwest; more than 185 million people are under heat alerts. PJM, the largest U.S. grid operator, triggered a Level 2 energy emergency alert, and spot electricity prices in Northern Virginia broke above $2,500 per MWh.

5. Brazil’s June trade surplus expanded to $9.758 billion, with year-on-year increases in both soybean and iron ore export volumes. In the first half of the year, the issuance size of perpetual (Tier 2) debt by commercial banks exceeded RMB 1 trillion, led mainly by state-owned institutions.

💰 Crypto Market

1. After a streak of ten consecutive days, U.S. spot Bitcoin ETFs recorded inflows of $221 million for the first time again. Bitcoin rebounded to $62,300, hitting a nine-day high. However, Coinbase’s negative premium reached the longest record, indicating softer demand in the U.S. market. If Bitcoin falls below $59,371, the liquidation force for accumulated long positions on major centralized exchanges would reach $1.174 billion.

2. Mega-whale activity is intensifying market volatility: Chun Wang deposited 9,876 ETH into Binance (about $17.02 million), seemingly preparing to sell; the government of Bhutan deposited 700 Bitcoins into Binance (worth about $43.75 million), possibly signaling a reduction of holdings. Another whale bought $37.7 million worth of ETH and WBTC within three days, reflecting bullish sentiment from institutional investors.

3. Trump’s financial disclosures show that in 2025 he earned over $600 million in revenue from the $TRUMP meme coin; its share of total revenue has already surpassed the combined total from real estate and licensing businesses. Around one million investors collectively lost $3.81 billion on Trump-themed token speculation, highlighting the risks of betting on cryptocurrencies tied to political figures.

4. European fintech Revolut announced it will stop supporting USDT on August 31, citing that Tether has not obtained MiCA authorization, as stablecoin regulation tightens. German domestic banks will gradually roll out their own cryptocurrency trading services for customers.

5. On the Solana chain, the Meme coin ANSEM has surpassed $350 million in market cap, setting a new all-time high. The total amount of tokenized real-world assets on Solana hit a new record of $3.62 billion. Strategy’s Bitcoin holdings’ unrealized loss narrowed to $11.5 billion.

🤖 AI and Tech

1. China’s AI industry is at a turning point: ByteDance, Alibaba, and Baidu are shifting toward domestic chips, with domestic GPU share in new deployments rising to 41%. Lingyi AI from Kuaishou completed its first round of fundraising of $3 billion, with post-investment valuation around $18 billion, with investments from Tencent, Alibaba, Baidu, and others.

2. Peking University and the Chinese Academy of Sciences jointly developed the world’s first memristor neuromorphic dynamics chip. It is 478 times faster than NVIDIA GPUs, and the achievement was published in the journal *Science*. Alibaba’s DAMO Academy released the first agent for discovering AI superconducting materials—Elements Claw—筛选 2.4 million crystal structures within 28 GPU hours.

3. Samsung plans to raise the average DRAM selling price by 20% quarter-on-quarter in the third quarter, and has already orally notified some customers. Meanwhile, Samsung Foundry’s 4nm capacity is nearly sold out. The surge in memory chip prices has triggered a collective consumer lawsuit in the U.S., accusing Samsung, SK hynix, and Micron of driving prices up by about 700% since 2022 by cutting DRAM production capacity.

4. The embodied intelligence track is heating up: Unitree Technology’s IPO registration on the Sci-Tech Innovation Board has been approved, and the China market size in 2026 is expected to reach RMB 1.09 trillion. CEO of LeXiang Technology believes the embodied intelligence field could produce an Apple-level company.

5. Tesla announced that starting July 6 it will cap employees’ weekly AI tool spending at $200, but the use of xAI’s Grok model will not count toward the cap—reflecting a trend of U.S. tech firms tightening AI spending. After Hongbo Co. saw its share price surge 7x on AI-theme stock hype, it later plunged 80% due to performance fraud and internal strife.

🌍 Geopolitics

1. Middle East tensions remain high: Iran’s parliamentary speaker Mohammad Baqer Qalibaf said the Strait of Hormuz should be jointly managed by Iran and Oman, raising concerns about global oil shipping. Iran warned countries such as the UK and France not to take military action in the Strait of Hormuz, and appointed Ali Azmaei as the new commander of the naval forces of the Islamic Revolutionary Guard Corps. U.S. media disclosed internal details of the U.S.-Iran ceasefire agreement: Iran’s president and the head of the central bank jointly urged the supreme leader, saying the economic situation is severe and a maritime blockade would cause food and medical supplies to run out by the end of August.

2. Escalation in the Russia-Ukraine conflict: Russia said Moscow was hit by a large-scale attack involving more than 200 drones—one of the most severe in nearly two years. Ukrainian President Volodymyr Zelensky confirmed that Ukraine conducted long-range strikes on Russia’s oil infrastructure. Putin said Russian forces have fully “liberated” Luhansk and gained “strategic initiative.”

3. North

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📡 8-Hour Recap | 07月04日 16:00-24:00

Over the past 8 hours, geopolitical tensions have remained high, with the Russia-Ukraine conflict escalating (a large-scale drone attack on Saint Petersburg) and the situation in the Middle East becoming more complex (Iran warns about the Strait of Hormuz, and behind-the-scenes details of the Iran-U.S. ceasefire agreement come to light) taking center stage. Volatility in the crypto market has intensified: Bitcoin ETF fund flows reversed direction, but analysts warned of near-term risks. Meanwhile, the AI sector saw a major breakthrough—Peking University and the Chinese Academy of Sciences developed a memristor chip with speeds far beyond Nvidia GPUs.

Macroeconomy

1. China’s express delivery business volume has already exceeded 100 billion parcels this year, 9 days ahead of last year, reflecting steady growth in the consumer market.

2. Domestic refined oil prices saw the largest single drop in nearly 6 years: gasoline and diesel were cut by over 900 yuan per ton. Experts expect oil prices may continue to fall through October.

3. Three departments issued guidance to standardize the registration of international science and technology organizations, clarifying the establishment conditions and application procedures.

4. In Shenzhen, robot export revenue for the first four months reached 4.03 billion yuan, accounting for 25.5% nationwide; products are sold to more than 100 countries and regions worldwide.

5. Many places are rolling out “one vehicle, one code” for ride-hailing; by July 15, Jinan will achieve full coverage of compliant vehicles.

Crypto Market

1. After ten consecutive days, Bitcoin ETFs recorded net inflows of $221 million for the first time, and prices rebounded. However, Coinbase’s negative premium hit its longest record, indicating weakening demand in the U.S. market.

2. Data show that if Bitcoin falls below $59,371, the liquidation intensity of accumulated long positions on major centralized exchanges could reach $1.174 billion; in the short term, bearish sentiment is likely to intensify.

3. About one million investors collectively lost $3.81 billion by investing in Trump-themed tokens, highlighting the speculative risks of politically related cryptocurrencies.

4. European fintech giant Revolut announced it is delisting USDT because Tether has not received MiCA authorization; stablecoin regulation is tightening.

5. A German domestic bank plans to gradually roll out its own crypto trading services for customers, which may drive trading momentum.

AI Technology

1. Peking University and the Chinese Academy of Sciences developed the world’s first memristor neuromorphic dynamics chip. Its speed is 478 times faster than Nvidia GPUs, and the achievement was published in the journal Science.

2. Doubao and Tongyi Qianwen announced that, due to adjustments in product functionality, their agent features will be taken offline on July 15, 2026; DeepSeek is doubling the price of API peak-hour slots because it is cooperating with Zhejiang Province’s time-of-use electricity pricing policy.

3. Tesla announced that starting July 6 it will limit employees’ weekly AI tool spending to $200, but use of xAI’s Grok model will not count toward the limit—reflecting a trend of U.S. tech companies tightening AI spending.

4. In the first half of the year, Korean retail investors’ net purchases of China’s A-shares related to AI exceeded $2.8 billion, showing rising global interest in China’s AI industry.

5. Hongbo Co., Ltd. saw its stock price soar 7x thanks to AI-concept shares, but then plunged 80% due to performance fraud and internal conflicts—becoming a typical case of a bubble bursting in A-share theme speculation.

Geopolitics

1. Russia says Moscow was hit by a large-scale attack involving over 200 drones, one of the worst in nearly two years. Ukrainian President Volodymyr Zelensky confirmed that Ukraine carried out long-range strikes against Russia’s oil infrastructure.

2. Iran warned extra-territorial countries not to create crises in the Strait of Hormuz, and appointed Ali Azmaei as the new naval commander of the Islamic Revolutionary Guard Corps.

3. U.S. media disclosed details behind the Iran-U.S. ceasefire agreement: Iran’s president and the central bank governor jointly advised the supreme leader, saying the economic situation is severe and a maritime blockade would cause food and medical supplies to run out by the end of August.

4. A roadside check post of a coast guard unit in Balochistan, Pakistan, was attacked with a car bomb, killing four security personnel and injuring 16.

5. The Iran-U.S. talks are planned for July 11 in Pakistan to discuss sanctions, frozen funds, and nuclear issues.

Commodities and Macro

1. The Iran-U.S. peace agreement released more than 60 million barrels of trapped crude oil, raising global concerns about oversupply, and causing oil prices to fall across the board.

2. A research note from JPMorgan said the bullish gold trend has ended; movements in the gold price largely hinge on actions by the Federal Reserve. It lowered its average price forecasts for the third and fourth quarters to $4,300 and $4,500 respectively.

3. Wildfires are raging across multiple western U.S. states. About 40 large wildfires across the country are out of control. In Colorado, the “Aspen Acres” wildfire has burned 297 square kilometers.

Market Sentiment Summary: Overall sentiment is cautious. Rising geopolitical conflicts and increased volatility in the crypto market are boosting investors’ risk-avoidance, but structural opportunities are emerging from AI chip breakthroughs and falling oil prices. Keep an eye on subsequent Iran-U.S. negotiations and changes in Federal Reserve policy.

📡 Hourly News | 22:00-23:00

1. The US and Iran have reached a peace agreement, leading to the release of more than 60 million barrels of trapped crude oil. This has raised concerns about a global supply glut. Oil prices have fallen across the board, and institutions such as Morgan Stanley and Goldman Sachs have warned that the market faces the risk of an oversupply next year.

2. Iran’s Foreign Minister, Al Araghchi, met separately in Tehran with representatives of Hezbollah and Hamas from Lebanon, as regional geopolitical tensions in the Middle East continue to run high.

3. After ten consecutive days, Bitcoin spot ETFs recorded net inflows of $221 million for the first time. The price rebounded, while the US M2 money supply hit a record high, reigniting expectations of upside momentum driven by liquidity.

4. Sweden’s Prime Minister Kristersson met with Wang Yi. Wang Yi said that China–Sweden relations need to strengthen dialogue, build mutual trust, and that the Swedish side should adhere to the One-China principle.

5. Shenzhen’s robot exports reached RMB 4.03 billion in the first four months, accounting for 25.5% nationwide. They are sold to more than 100 countries and regions around the world.

6. Anjie Technology acquired a 51% stake in the optical module business of Suzhou Zifeng for a base consideration of RMB 204 million, with the deal funded using an Earnout clause.

7. Cross-strait direct flights between Kaohsiung and Ningbo resumed one after another. One-way flight time was shortened to about two hours, greatly improving travel efficiency.

8. A “giant whale” using 10x leverage to short XPL saw part of the position liquidated. The remaining position is down by $145,000 unrealized loss, highlighting the risks of high leverage.

📡 Hourly Broadcast | 21:00-22:00

1. Many places are rolling out “one vehicle, one code” for ride-hailing services. By July 15, Jinan will achieve full coverage of compliant vehicles, in order to eliminate chaos and illegal operations.

2. Shenzhen’s robotics exports in the first four months totaled 4.03 billion yuan, accounting for 25.5% nationwide. Products are sold in over 100 countries and regions worldwide.

3. The U.S. and Iran plan to hold negotiations in Pakistan on July 11 to discuss sanctions, frozen funds, and nuclear issues.

4. Iran’s security authorities have dismantled four hideouts linked to the U.S. and Israel involving “terrorist and extremist organizations,” arresting five members and seizing large quantities of weapons.

5. This week, U.S. spot Bitcoin ETF outflows totaled $526.1 million. After employment data came in weaker than expected, the price of Bitcoin saw a modest rebound.

6. Russia’s Ministry of Defense says it has gained control of five settlements in eastern Ukraine and is currently clearing Ukrainian forces from Lyman.

7. The State Post Bureau has conducted research at the headquarters of major express-delivery companies including SF Express and YTO Express (Yuan Tong). It has sent five signals: reducing “cutthroat competition,” standardizing performance evaluation, and safeguarding the rights and interests of delivery workers.

8. Direct flights between Kaohsiung and cities such as Ningbo across the Taiwan Strait have resumed one after another, with one-way flight times reduced to about 2 hours.

📡 On-the-hour Update | 20:00-21:00

1. Iran warns countries outside the region not to create crises in the Strait of Hormuz, saying it will respond seriously to any military actions that threaten the safety of the waterway, and appoints Ali Azmai as the new commander of the Islamic Revolutionary Guard Corps Navy.

2. Tesla announces that starting July 6 it will cap employees’ weekly spending on AI tools at $200, but using xAI’s Grok model will not count toward the limit, reflecting a trend of U.S. tech companies tightening AI expenditures.

3. U.S. media reveals details behind a ceasefire agreement between the U.S. and Iran. The Iranian president, together with the head of the central bank, urged the supreme leader to approve the deal, citing severe economic conditions and saying a naval blockade would lead to food and medical supplies running out by the end of August.

4. Data shows that if Bitcoin falls below $59,371, the total liquidation intensity of long positions on major centralized exchanges will reach $1.174 billion. The UK’s new crypto regulatory framework faces challenges in implementation due to high compliance costs.

5. Peking University and the Chinese Academy of Sciences jointly developed the world’s first neuromorphic chip based on memristors, with a speed 478 times faster than NVIDIA GPUs. The achievement has been featured in the journal Science.

6. Doubao and Tongyi Qianwen announce that due to product feature adjustments, the agent functionality will be discontinued on July 15, 2026. DeepSeek doubles the API price during peak hours in response to Zhejiang Province’s time-of-use electricity pricing policy.

7. A report from JPMorgan states that control over gold pricing has returned to the U.S. Federal Reserve. In the short term, the market faces pressure due to rate-hike risks, but in the long run it is expected to be bullish, reaching an average of $4,775 per ounce in 2027.

8. Data center operator Crusoe is currently in talks to raise $3 billion, with its valuation potentially rising to $30 billion. Zhipingfang has secured nearly RMB 5 billion in financing, and Keling AI has completed nearly $3 billion in financing.

📡 Hourly Bulletin | 20:00-21:00

1. Iran warns countries outside the region not to create crises in the Strait of Hormuz, saying it will seriously respond to any military actions that threaten the safety of the waterway, and appoints Ali Azmaei as the new commander of the Islamic Revolutionary Guard Corps Navy.

2. Tesla announced that starting July 6 it will cap employees’ weekly spending on AI tools at $200, but usage of xAI’s Grok model will not count toward the limit, reflecting a trend among U.S. tech firms to tighten AI expenditure.

3. U.S. media disclosed details behind the U.S.-Iran ceasefire deal. Iran’s president and the head of the central bank jointly advised the Supreme Leader, saying the economic situation is grave and that a maritime blockade would lead to food and medical supplies running out by late August, ultimately leading to approval of the agreement.

4. Data shows that if Bitcoin falls below $59,371, the cumulative liquidation intensity of long positions on mainstream centralized exchanges would reach $1.174 billion. The UK’s new crypto regulatory framework faces implementation challenges due to high compliance costs.

5. Peking University and the Chinese Academy of Sciences jointly developed the world’s first memristor neurodynamic chip. It is 478 times faster than NVIDIA GPUs, and the achievement was featured in Science.

6. Doubao and Tongyi Qianwen announced that due to adjustments to product functions, the agent feature will be taken offline on July 15, 2026; DeepSeek doubled API peak-hour pricing in coordination with Zhejiang Province’s time-of-use electricity pricing policy.

7. A report from JPMorgan Chase indicated that the influence over gold pricing has returned to the Federal Reserve. In the short term, it is under pressure due to rate-hike risks, but in the long run it is bullish toward reaching the 2027 average of $4,775 per ounce.

8. Data center operator Crusoe is in talks to raise $3 billion, and its valuation may rise to $30 billion. ZhiPingFang has secured nearly RMB 5 billion in funding, while “Keling AI” has completed nearly $3 billion in financing.

📡 On-the-Hour Update | 19:00-20:00

1. A car bomb attack hit a coastal police checkpoint in Pakistan’s Balochistan province, killing 4 security personnel and injuring 16. The terrorist group “Baloch Liberation Army” claimed responsibility.

2. China successfully launched the Qianfan Polar-orbit 13th group of satellites using the Long March 6 carrier rocket. The satellites entered their planned orbit successfully, marking the 655th launch of the Long March series.

3. Revolut, a major European fintech company, announced that it will delist USDT after August 31. The move is due to Tether not having received MiCA authorization; holdings will be automatically converted to the base currency, as regulation of stablecoins tightens.

4. A magnitude 4.3 earthquake struck Binchuan County in Dali Prefecture, Yunnan. The China Earthquake Administration initiated a Level IV emergency response to enhance earthquake monitoring and trend assessment.

5. JPMorgan Chase lowered its target gold price for Q4 2026 by about 25% to $4,500 per ounce. Near-term demand remains weak, but its bullish long-term view is unchanged.

6. In the first half of the year, about 70% of A-shares declined. Market performance was extremely polarized. A surge in AI-related investment has sparked concerns about oversupply of computing power, though advanced computing resources remain scarce.

7. Yunnan is expanding the categories eligible for “trade-in” and “buy-new” subsidies for consumer goods, adding 9 new product types such as smart door locks and drones. A subsidy of 15% of the sale price applies, up to a maximum of RMB 1,500 per item.

8. The Ministry of Water Resources has initiated a Level IV emergency response for flood defense in Liaoning and Jilin. From July 4 to 6, localized rainfall amounts in the two provinces may exceed 100 millimeters.

📡 Hourly News Update | 18:00-19:00

1. Russia says Moscow was hit by a large-scale attack involving more than 200 drones—one of the most serious in nearly two years. Ukraine has not responded yet.

2. A public farewell ceremony for Iran’s late supreme leader, Ayatollah Khamenei, was held in Tehran. It is expected that 15 to 20 million people will attend.

3. About one million investors collectively lost $3.81 billion after investing in Trump-themed tokens, highlighting the speculative risks of cryptocurrencies tied to political figures.

4. A research report from JPMorgan Chase says the bullish run in gold has ended. Gold’s direction depends mainly on Federal Reserve actions, with forecasts for the third and fourth quarter average prices lowered to $4,300 and $4,500.

5. Huawei has released the AI-FAN architecture to drive home broadband upgrades to 10 gigabits, enabling AI-powered network intelligence.

6. Guangdong Taipingling Nuclear Power Plant Unit 2 achieved grid connection for the first time, with commercial operation expected in the second half of 2026.

7. The National Meteorological Center has issued six alerts. Typhoon “Maysak” is expected to land along the coast of Guangxi, with torrential to extremely heavy rainfall in Guangxi, Guangdong, and other areas.

8. German domestic banks will gradually roll out trading services for their own cryptocurrencies to customers, which may spark a surge in trading activity.

📡 Top-of-the-hour bulletin | 17:00-18:00

1. Ukrainian President Zelensky confirms that Ukraine conducted remote strikes against Russia’s oil infrastructure and military targets near Saint Petersburg; Russia says 72 drones were intercepted.

2. Wildfires ravage several states in the western United States. Across the country, around 40 major wildfires have gotten out of control. In Colorado, the “Aspen Acre” wildfire has burned 297 square kilometers, and more than 160 buildings have been destroyed.

3. Domestic refined fuel prices see the largest single drop in nearly six years. Gasoline and diesel are lowered by more than 900 yuan per ton; experts expect fuel prices may continue to fall until October.

4. A magnitude 4.4 earthquake strikes Binchuan County in Dali Prefecture, Yunnan. The epicenter depth is 10 kilometers. No major impact has been reported.

5. Data show that 20% of active Bitcoin investors are in an unrealized loss. The market has entered a mildly devaluation phase, and bearish sentiment is intensifying in the short term.

6. Two major AI platforms, Doubao and Qianwen, announce that they will shut down the agent feature on July 15 in response to the implementation of the “Interim Measures for the Administration of Human-Like Interactive Services by Artificial Intelligence.”

7. China’s first fixed-wing aircraft for comprehensive atmospheric environmental observation, the “Yun-12F Atmospheric Comprehensive Aeromapping Aircraft,” makes a successful maiden flight in Harbin.

8. Hongbo Co., Ltd. saw its share price surge sevenfold after riding on an AI concept stock wave, but then plunged 80% due to alleged falsification of performance and internal infighting, becoming a typical example of a burst A-share theme-stock bubble.

📡 Top-of-the-hour update | 16:00-17:00

1. This year, China’s express delivery volume has exceeded 100 billion parcels, reaching that figure 9 days earlier than last year, reflecting steady growth in the consumer market.

2. Russia says St. Petersburg was hit by a large-scale drone attack, with 72 drones intercepted. The oil terminal was struck, but there were no casualties.

3. In the first half of this year, individual investors in South Korea net-bought more than $2.8 billion worth of Chinese A-shares related to AI, showing rising global interest in China’s AI industry.

4. Mali’s military says several major towns were attacked by rebel fighters, with clashes occurring at five locations.

5. The UK and France will cooperate with Oman to help ensure the safety of its territorial waters navigation, and will adjust their military deployments in the Middle East.

6. China-made air conditioners are selling extremely well in Europe due to extreme heat. Brands such as Gree, TCL, and Hisense have reportedly expedited replenishment orders.

7. Three departments have issued guidance to regulate the registration of the establishment of international scientific and technological organizations, clarifying establishment requirements and application procedures.

8. Bitcoin needs to add roughly $1 trillion in liquidity to support the next bull market, and Coinbase’s negative premium has set its longest record.

📡 Hourly News Update | 15:00-16:00

1. Iran’s offshore floating storage oil stockpiles are piling up, and it is seeking to sell oil to Japanese companies. Potential buyers are asking for longer exemption periods and guarantees for vessel safety.

2. The Hundred Persons’ Assembly of China’s humanoid robots, together with the China Machinery Industry Federation, has jointly proposed an initiative to standardize and guide the development of humanoid robots for emotional companionship, emphasizing technology for good, privacy protection, and safety management.

3. Micron Technology plans to invest $9 billion to expand its chip factory in Japan to increase AI memory production capacity, with production expected to start in 2028.

4. The premium for Bitcoin ETFs has turned negative. Analysts predict that Bitcoin may first drop to $46,000 before rebounding to $65,000, and that risks should be watched in the near term.

5. Typhoon “Maysak” is expected to land again in Guangxi tonight. The National Flood Control and Drought Relief headquarters has initiated a Level IV emergency response, deploying flood and typhoon prevention work for key areas.

6. CATL and Beijing Green Exchange, among others, have signed a strategic cooperation agreement to collaborate on developing carbon-emission-reduction methodologies and innovating green finance for supply chains.

7. Russia says it has taken control of the key town of Konstantinovka in the Donetsk region, but the Ukrainian military denies this, stating that the settlement is still under Ukrainian forces’ control.

8. This year, the Baiyun Airport port of Guangzhou has handled more than 3.9 million entry and exit trips by foreign nationals, up 34% year-on-year. Its share has exceeded 40%, setting a new record high.

📡 8-Hour Review | Jul 04, 08:00-16:00

Over the past 8 hours, market focus has centered on the acceleration of capital capitalization in commercial space and embodied intelligence, the ongoing persistent tensions in the Middle East and regional geopolitics, and increased volatility in the cryptocurrency market driven by ETF fund flows and whale activity. Meanwhile, financing in the AI sector remains active: Kuaishou’s Keling AI completed a $3.0 billion round of financing; Samsung plans to raise DRAM prices significantly; and evidence shows that both hardware and software investment enthusiasm in display technology remains strong.

Macroeconomy

1. The National Meteorological Center issued three warnings for heavy rain, typhoons, and strong convection. Areas including Guangxi and Guangdong need to prepare for extreme rainfall; on the Jingha line, some trains have been delayed due to excessive precipitation.

2. Germany’s draft budget for 2027 plans to add more than €203 billion in new borrowing, with defense spending increasing to €130.1 billion, to respond to economic weakness and geopolitical risks.

3. PJM, the largest power grid operator in the United States, triggered a second-level energy emergency alert under extreme heat and transmission overloads. In North Virginia, spot electricity prices broke above $2,500 per MWh.

4. In the first half of the year, the issuance scale of perpetual (two-year) bonds by commercial banks exceeded RMB 1 trillion. State-owned large banks and joint-stock banks were the main forces, while smaller banks issued more slowly and at higher interest rates.

5. Three departments including the Ministry of Finance announced that starting in 2027, they will取消 eliminate tax incentives for energy-saving and new-energy vehicles and vessels. Experts suggest shifting toward a mileage-based differential road usage fee system.

Crypto Market

1. After Bitcoin broke above $61,000 and moved close to $65,000, three bullish signals appeared, but the sustainability of the rally remains uncertain. On July 3, U.S. spot Bitcoin ETFs saw net inflows of $221.7 million, ending the previous 10 consecutive days of outflows.

2. Whale Chun Wang deposited 9,876 ETH into Binance (about $17.02 million), seemingly preparing to sell; meanwhile, an Ethereum bearish whale exited positions at a loss, losing $9.386 million.

3. The government of Bhutan deposited 700 Bitcoins into Binance (worth $43.75 million), which could be a signal of de-risking or selling. Another whale bought $37.7 million worth of ETH and WBTC within three days; ETH had an unrealized gain of $3.3 million, reflecting bullish sentiment from institutional investors.

4. European fintech company Revolut will stop supporting USDT on August 31 and will no longer accept new purchases after July 6.

5. On the Solana chain, the Meme coin ANSEM’s market cap surpassed $350 million, setting a new all-time high, with a 24-hour increase of 69.6%. The total amount of tokenized real-world assets on Solana hit a new high of $3.62 billion.

AI & Technology

1. Kuaishou’s Keling AI completed its first round of financing of $3.0 billion. The post-investment valuation is about $18.0 billion. Investors include Tencent, Alibaba, Baidu, and others.

2. Alibaba’s DAMO Academy released its first AI agent for discovering superconducting materials—Elements Claw. In 28 GPU hours, it screened 2.4 million crystal structures and discovered four new types of superconductors.

3. Samsung plans to raise the average selling price of DRAM by 20% quarter-over-quarter in the third quarter. It has already verbally notified some customers. At the same time, Samsung’s 4nm foundry capacity is nearly sold out, and the company has started selecting orders.

4. The embodied intelligence sector is heating up. Unitree Technology’s registration for a ChiNext IPO has been approved. The estimated market size for China in 2026 is expected to reach RMB 1.09 trillion. A team from Peking University successfully developed the world’s first neural dynamics system chip based on phase-change memristors, achieving a speedup of 50 to 478 times over GPUs.

5. Goldman Sachs maintains a “Buy” rating for MiniMax, with a target price of HK$860. It says inference efficiency of its M3 model has improved by more than 2x, making it more cost-effective than DeepSeek’s V4 after its price increase.

Geopolitics

1. The situation in the Middle East remains tense: Iran held a public farewell and mourning ceremony in Tehran for the late supreme leader Khamenei; the Houthis claimed that Saudi aircraft violated Yemeni airspace and warned they would strike Saudi airports; Iran’s deputy foreign minister warned countries such as the UK and France not to carry out military actions in the Strait of Hormuz.

2. The Russia-Ukraine conflict continues: Putin said that large-scale strikes on Ukraine’s military-industrial facilities must continue. Russia said it intercepted 23 Ukrainian drones heading toward Moscow; Ukraine has not yet responded.

3. China Coast Guard’s Shushan (舰) formation replaced the Daishan (舰) formation, continuing routine law enforcement patrols in waters east of Taiwan. Experts say this move demonstrates sovereignty through continuous actions.

4. Canada plans to announce, at the NATO summit, the establishment of a global defense bank together with around 10 countries to reduce strategic reliance on the United States. Lithuania’s president said the country hopes to integrate into the Western nuclear deterrence framework against Russia, and it is currently lifting its ban on nuclear weapon deployments.

5. Trump announced that the U.S. Treasury Department will accept stock donations from public companies to fund the “Trump account” project. The number of applicants has exceeded 6 million, sparking ethical and legal controversies.

Market Sentiment Summary: Market sentiment is swinging between a tech investment boom and geopolitical risks. The cryptocurrency market shows a short-term rebound under ETF fund inflows and whale operations, but its sustainability remains doubtful. Financing in the AI and semiconductor sectors is active; expectations of hardware price increases are being reinforced. Investors should monitor how subsequent policy changes and geopolitical events affect risk appetite.

📡 Hourly News Report | 14:00-15:00

1. Iran’s deputy foreign minister warns the UK, France, and other countries not to carry out military actions in the Strait of Hormuz, stressing that security should be jointly maintained by coastal states.

2. China Mobile initiates the establishment of the first industry-leading AI-eSIM industrial collaboration platform in the sector, bringing together 40-plus leading companies to promote the standardized development of the intelligent connectivity ecosystem.

3. Russia says it intercepted 23 Ukrainian drones bound for Moscow, and the mayor of Moscow reports that the air defense system successfully intercepted them.

4. The price of Bitcoin is nearing $65,000. It has shown three bullish signals, but it remains to be seen whether a valid breakout occurs.

5. Hainan issues its “15th Five-Year Plan” (2026–2030) outlining steady progress toward banning the sale of gasoline-fueled vehicles by 2030. The share of new energy vehicle ownership is expected to reach 45%.

6. The State Administration for Market Regulation and the Ministry of Commerce publicly solicit opinions on the draft “E-Commerce Law (Amendment Draft for Comments),” aiming to standardize the conduct of platform operators.

7. Samsung Electro-Mechanics and Sumitomo Chemical form a joint venture to expand their glass substrate business, planning to start production in South Korea in the second half of 2027.

8. France’s health minister supports a lifelong ban on selling tobacco to people born in 2009 and afterward, but emphasizes that this does not reflect government decision-making.

📡 Hourly Report | 13:00-14:00

1. Goldman Sachs maintains a “Buy” rating for MiniMax, with a target price of HKD 860. It says its M3 model inference efficiency has improved by more than 2x, and its cost-effectiveness is better than DeepSeek’s post-price-increase V4.

2. France’s Minister of Health supports a lifelong ban on selling tobacco to people born in 2009 or later, aiming to create a smoke-free generation.

3. European fintech company Revolut will stop supporting USDT on August 31 and will no longer accept new purchases after July 6.

4. China Coast Guard conducts routine law-enforcement patrols in waters east of Taiwan Island. Experts say this move uses continuous actions to assert sovereignty.

5. Israel’s prosecutors have indicted a U.S.-born man for allegedly carrying out espionage for Iran—possibly as the first U.S.-linked suspect in the case.

6. Russia says it intercepted 23 Ukrainian drones headed for Moscow, while Ukraine has not yet responded.

7. In the first half of the year, issuance of “two-year” perpetual bonds by commercial banks exceeded 1 trillion yuan. State-owned major banks and joint-stock banks were the main issuers, while smaller and medium-sized banks progressed more slowly and offered higher interest rates.

8. The driver in the Tesla accident in Texas had searched “FSD too conservative” and manually accelerated, crashing into a residential home and causing one death. He has been charged with manslaughter by negligence.

📡 On-the-hour News | 12:00-13:00

1. The President of Lithuania said he hopes to integrate with the West’s nuclear deterrence system regarding Russia, as the country is lifting its ban on nuclear weapons deployment.

2. Zhongrong International Trust Co., Ltd. has been approved by regulators to enter bankruptcy proceedings according to law, becoming a major event in the industry.

3. He Tingbo, head of Huawei’s semiconductor business, released a paper on the “Tao Ding Law” V2 version, adding engineering details and measured data.

4. U.S. spot Bitcoin ETFs saw net inflows of $221.7 million on July 3, ending the previous 10 consecutive days of capital outflows.

5. Micron Technology officially launched the expansion of its Western Japan plant, with a total investment of 1.5 trillion yen, and the Japanese government’s maximum subsidy of 500 billion yen.

6. The Bhutanese government deposited 700 Bitcoins with Binance (valued at $43.75 million), possibly as a signal of planned sell-downs.

7. Trump pardoned 11 people (including 9 who violated the Clean Air Act), while SBF was not on the list.

8. China plans to expand the scope of the E-commerce Law to cover platforms and digital enterprises, and is soliciting public comments.

📡 Hourly News Broadcast | 11:00-12:00

1. Chen Li, co-founder of Ubtech, predicts that in the next 2–5 years the intelligent robotics industry will see three major breakthroughs: end-to-end large models, falling hardware costs, and scaled computing power. The hallmark of the “ChatGPT moment” for embodied intelligence is that a robot can complete 80% of tasks in 80% of unfamiliar scenarios.

2. Kuaishou has spun off its AI video generation unit, Ke Ling, securing $3.0 billion in investments from Tencent, Alibaba Cloud, Baidu, and others, with a valuation of $18.0 billion.

3. US President Trump said Iran is very eager to reach an agreement, citing a one-week holiday granted to Iran due to Hameinei’s funeral. Putin, meanwhile, said that large-scale strikes against Ukraine’s military-industrial facilities must continue.

4. Three ministries, including the Ministry of Finance, announced that starting in 2027, tax incentives for energy-saving and new-energy vehicles and vessels will be abolished. Experts recommend shifting to a mileage-based differentiated road usage fee system.

5. Alibaba’s DAMO Academy AI agent ElementsClaw screened 2.4 million crystal structures within 28 GPU hours, discovering four new types of superconductors.

6. A major US options market maker, Hainer International, has sued 100 people accused of allegedly obtaining advance knowledge of China’s regulatory actions. They allegedly profited more than $100 million through put options, and the court has frozen the relevant accounts.

7. Samsung Electronics plans to unexpectedly raise DRAM prices by 20% in the third quarter, putting pressure on major tech companies’ investments.

8. In Belgium, a 11-day heatwave killed 1,222 people; nearly half were elderly people aged 85 and above, and the death rate was 39% higher than normal levels.

📡 Top-of-the-hour update | 10:00-11:00

1. Doubao and the Qianwen platform each announced that their intelligent agent features will be discontinued on July 10 and July 15, 2026, respectively. Users need to back up their data before October 15.

2. In Tehran, Iran held a public farewell and memorial ceremony for the late supreme leader Khamenei. He was killed in a U.S.-Israeli airstrike on February 28.

3. China Coast Guard’s Xiu Shan (秀山) vessel formation took over from the Dai Shan (岱山) formation and continues routine law-enforcement patrols in waters east of Taiwan.

4. A team from Peking University successfully developed the world’s first neural dynamics system chip based on phase-change memristors. In tasks such as cerebral cortex reconstruction, it achieves speedups of 50 to 478 times compared with GPUs.

5. U.S. spot Bitcoin ETFs saw $294.62 million in net outflows, while demand for Ethereum funds shows a more resilient institutional investment landscape.

6. Canada plans to, together with around 10 other countries at the NATO summit, announce the establishment of a Global Defense Bank to reduce strategic dependence on the United States.

7. The Central Meteorological Observatory continues issuing orange alerts for heavy rain. It is expected that regions including Guangxi, Guangdong, and Hubei will experience extremely heavy rainfall, with localized areas in southern Guangxi seeing exceptionally heavy rainfall.

8. Changguang Satellite has completed equity financing of nearly 5 billion yuan. The funds will be used to build satellite mass-production capabilities, develop the “Jilin-1” networking, and create remote-sensing data application software.

📡 Hourly Report | 09:00-10:00

1. The State Administration for Market Regulation and the Ministry of Commerce have publicly solicited comments on the “E-commerce Law (Draft Amendment for Public Comment)”, covering five areas including expanding and adjusting the scope, and improving platform responsibilities.

2. Typhoon “Maysak” is expected to land again tonight near the border area between Guangxi and northern Vietnam. The National Marine Forecasting Center has upgraded the storm surge alert to yellow, with heavy to intense rainfall expected across South China.

3. Samsung plans to raise DRAM prices by about 20% in the third quarter. It has orally notified some customers. Meanwhile, Samsung’s 4nm foundry capacity is nearly sold out, and it has started accepting orders selectively.

4. Kuaishou’s subsidiary, Keling AI, has completed its first round of financing of $3.0 billion, with a post-investment valuation of about $18.0 billion. Investors include Tencent, Alibaba, Baidu, and others.

5. The funeral of Iran’s Supreme Leader Khamenei begins today in places including Tehran, as tensions in the Middle East continue to run high.

6. Alibaba’s DAMO Academy has released its first AI discovery agent for superconducting materials, Elements Claw. The discovery has been validated through lab experiments, confirming four new types of superconductors.

7. The first “Hualong One” project in the Guangdong–Hong Kong–Macao Greater Bay Area—the Taipingling Nuclear Power Plant Unit 2—achieved successful first grid connection, generating its first unit of electricity.

8. A single whale bought $37.7 million worth of ETH and WBTC within three days. Of the ETH, there is an unrealized gain of $3.3 million, reflecting bullish sentiment among institutional investors.