RecodeX

📡 On-the-hour news | 06:00-07:00

1. Spot gold breaks through $4,190 per ounce; New York futures for gold rise above $4,200 per ounce, up 1.80% for the day.

2. New trading rules for China’s A-shares take effect today. Main boards and ETFs add fixed-price trading after-hours; the price limit for ST stocks is adjusted to 10%.

3. The South Korean won edged higher on its first day of 24-hour trading. The South Korean government has strengthened monitoring of night sessions to address currency pressure.

4. The Ukrainian capital Kyiv was hit by multiple rounds of Russian ballistic missile strikes; about 15 explosions occurred within 10 minutes.

5. U.S. stock index futures rose in early Asian trading. S&P 500 index futures gained 0.4%, and Nasdaq-100 index futures rose 1.2%.

6. Tesla launched a Robotaxi service in Miami without safety monitoring staff, planning to expand to twelve U.S. states by the end of 2026.

7. Norway beat Brazil 2-1 in the World Cup Round of 16 to advance successfully to the quarterfinals.

8. New trading rules for Shanghai, Shenzhen, and Beijing exchanges take effect. Brokers revise risk disclosure statements accordingly, and existing investors do not need to re-sign.

📡 Hourly Update | 05:00-06:00

1. Trump plans to meet Zelensky during the NATO summit on July 8, then speak with Putin to push for the conflict in Ukraine to end as soon as possible.

2. The death toll from the Venezuela earthquake has risen to 3,342, with 16,740 injured, making it a major macro event during this period.

3. Bitcoin has broken through 63,000 USDT, but ETFs are still recording a record-setting eighth consecutive week of net outflows, and market volatility continues.

4. The UK Financial Conduct Authority (FCA) has warned that AI in the financial services industry may trigger a “arms race,” and that the scope of regulation needs to be expanded to address risks such as algorithmic bias.

5. Ming-Chi Kuo predicts that the foldable iPhone will be assembled and shipped in the second half of 2026 at around 7–8 million units, potentially repeating the delayed release scenario of iPhone X.

6. Since the beginning of early 2026, Ukrainian drone attacks have hit Russian refineries at least 194 times—up to 16 times in a single month—leading to 20%–40% of Russian refining capacity being shut down.

7. In the first half of the year, the number of newly opened fund accounts exceeded 1.8 million, the highest for the same period in six years. Funds have added large positions, especially in hard-tech sectors represented by semiconductors.

8. The probability that the Federal Reserve will keep interest rates unchanged in July is 77%. The market is focused on this week’s economic data and remarks by Fed officials.

📡 Hourly News Report | 04:00-05:00

1. Trump calls FIFA President Gianni Infantino to exert pressure. A red-card ban for the U.S. team’s top striker Balogun has been temporarily suspended, allowing him to play in the Round of 16 at the World Cup.

2. Today, the central bank conducts a RMB 1 trillion buyout-style reverse repurchase operation with a maturity of 3 months, bringing an end to the 3-month consecutive de-escalation in volumes at the end of that period.

3. This week, nine ETFs are set to be listed. Individual investors hold a proportion close to 80%. Popular thematic ETFs are favored, but trading activity is frequent.

4. By July 15, ByteDance’s Doubao and Alibaba’s Tongyi Qianwen will disable personified interfaces and user-defined intelligent agents to comply with China’s new AI interaction regulations.

5. In 2025, the Trump family profited more than $1 billion through cryptocurrency. In the same period, Bitcoin plunged 50% from its all-time high, leaving retail investors with heavy losses.

6. Germany raises its borrowing plan for 2027 to €118 billion. Due to weaker tax revenues and higher debt costs, defense and infrastructure spending will not be capped.

7. NVIDIA introduces a new revenue-sharing plan: it will provide GPU computing power in exchange for a cut of future sales from AI startups, strengthening its ecosystem.

8. A base attack by South Sudan’s People’s Defense Forces resulted in the deaths of five soldiers. The government condemns the attack, saying its aim is to disrupt the December elections.

📡 Hourly News Bulletin | 03:00-04:00

1. Wildfires continue to spread in southern France, with about 10,000 people ordered to evacuate. The third stage of the Tour de France cycling race will be adjusted and public spectators will be prohibited.

2. A Reuters investigation shows that most economists expect the Reserve Bank of New Zealand to raise interest rates by 25 basis points in July, and then increase them again to 2.75% by the end of September.

3. US spot Bitcoin ETFs have recorded net outflows for the eighth consecutive week, with net redemptions of about $527 million over four trading days.

4. Dozens of Israeli settlers tried to cross the border into Syria. The IDF detained them and handed them over to the police, with the IDF condemning the incident as serious.

5. British Foreign Secretary David Cameron (Cooper) warned that if countries do not agree on global rules to govern AI development, artificial intelligence will bring “Hiroshima-like” threats.

6. A Bitcoin wallet that had been dormant since 2011 was activated 14 years later, generating returns over 700,000 times.

7. Iran’s head of the judiciary said that the U.S.-Israel talks stemmed from their defeat, vowing to pursue the criminal responsibility of the United States and those involved in the assassination of the former top leader.

8. Sony announced that it will stop producing PS5 physical game discs starting in 2028, and that all new games will be sold only through digital channels.

📡 On-the-hour News | 02:00-03:00

1. Bitcoin rebounded after breaking through the June lows, but it faces a key resistance zone. If it breaks above $65,774, it could trigger $825 million in short liquidations, potentially pushing prices higher.

2. Trump plans to meet with leaders of Ukraine and Syria during the NATO summit to discuss an end to the Russia-Ukraine war and urge NATO allies to increase defense spending.

3. Analyst Ming-Chi Kuo predicts that Apple will release a foldable-screen iPhone Ultra in September 2026, priced at around $2,299–$2,499. Pre-orders may be delayed to the fourth quarter.

4. New A-share trading rules will officially take effect starting July 6. Key changes include optimizing the Shanghai Stock Exchange fund closing-trading mechanism, expanding the fixed-price trading method after-hours, and adjusting the daily price-movement limits for risk-warning stocks on the main board.

5. Israel’s cabinet unanimously refused to comply with the Supreme Court’s ruling regarding the management of the broadcasting and television authority, setting a historical precedent. The government said it will ignore the relevant ruling.

6. The Long March 10 Y2 rocket is scheduled for its maiden flight from July 10 to 13. It will validate the world’s first “marine network system recovery” technology, signaling that competition in commercial space is shifting toward space-and-atmosphere infrastructure.

7. At a Wang Leehom concert, he accidentally fell and suffered multiple injuries. After 39 stitches, he continued performing and reported that he is safe.

8. About 20 pieces of jewelry were stolen from the Louvre-Lens Museum in France, with losses possibly reaching several million euros. At least six display cases were smashed, and the suspects have fled the scene.

📡 Hourly News Update | 01:00-02:00

1. The White House confirms that Trump will meet with Ukrainian President Volodymyr Zelensky during the NATO summit and plans to follow up with communications with Putin, aiming to end the Russia-Ukraine conflict as soon as possible.

2. A senior U.S. official says Trump will announce a defense sales plan worth tens of billions of dollars during the NATO summit, and will also discuss navigation security issues in the Strait of Hormuz.

3. Iranian Parliament Speaker Mohammad Bagher Qalibaf emphasizes that the United States is an unreliable negotiating partner; Iran has set clear limits in nuclear talks and will stick to its position.

4. The Chief of the General Staff of the Israeli Defense Forces, Herzi Halevi, announces that it has fully taken control of the Beaufort Ridge outpost in southern Lebanon, adding that it will continue to eliminate threats from Lebanon.

5. The first-half underwriting rankings for corporate bonds have been released. China CITIC Securities once again tops the list. The top five firms together account for more than half of the total underwriting amount, as the “Matthew effect” continues to deepen.

6. EasyJet has, in principle, accepted Castlelake’s takeover offer of £6.90 per share, valuing the deal at about £5.2 billion.

7. XRP fell 22% in June, but historical data shows July is usually strong. In the past six Julys, all rose, with five recording double-digit gains.

8. French President Emmanuel Macron will visit Damascus soon, becoming the first Western head of state to visit since the fall of the Assad regime, with the goal of taking part in Syria’s reconstruction.

📡 Top of the Hour Report | 00:00-01:00

1. OpenAI has secretly submitted its IPO application, aiming to go public in 2027 at a valuation of $1 trillion, and is voluntarily ceding 5% equity to the U.S. government to hedge regulatory risks.

2. Micron Technology has launched a $9.3 billion fab expansion project in Hiroshima, Japan, to produce AI storage chips such as HBM; the Japanese government will provide subsidies of up to about 500 billion yen.

3. 58% of U.S. voters believe the Trump administration’s military conflict with Iran is not worth the cost. The White House is seeking an additional $67 billion in federal funding from Congress to cover war expenses.

4. easyJet has, in principle, agreed to Castlelake’s proposed all-cash acquisition offer of £5.2 billion at £6.90 per share, to be taken private and delisted.

5. Bitcoin is approaching $63,500 over the weekend, setting a nearly two-week high, but traders warn that Monday’s outlook could be “extremely bad.” Ethereum’s net supply increased by 83,550 over the past 30 days.

6. After gold prices plunged by nearly 30%, they are now in a “defend $4,000” battle. A hawkish stance from the newly appointed Fed chair, Waller, and a sharp pullback by speculators have put pressure on gold.

7. Wealthy U.S. families use AI to compress learning time to cultivate creativity, while parents in China use AI to strengthen test-prep and drill practice—reflecting starkly different educational choices in the AI era.

8. The Israel Defense Forces say they have fully taken control of Beaufort Ridge in southern Lebanon. The IDF’s chief of staff says they will continue operations to eliminate threats coming from Lebanon.

📡 Hourly News Brief | 23:00-00:00

1. Israel’s cabinet unanimously rejects compliance with the Supreme Court’s ruling, setting a historic precedent. Netanyahu says the forces will continue to remain in Lebanon, and reiterates the goal of preventing Iran from acquiring nuclear weapons.

2. In Mianzhu City, Sichuan, three earthquakes hit within half an hour (4.5, 4.0, and 4.5). Netizens in many areas received early warnings, and the shaking was strong.

3. OPEC+ agrees to increase production by 188,000 barrels per day in August, as the oil market cools. Germany plans to raise its borrowing scale for 2027, due to tax revenue coming in below expectations.

4. The CSRC revises refinancing rules for listed companies, optimizing eight mechanisms such as fast financing for small amounts and placement pricing of share issuances, to enhance inclusiveness in the capital markets.

5. Several A-share companies release their first-half performance forecasts. Yongding Co., Ltd. expects net profit to increase by 57%-120%. Oriental Shenghong expects net profit to rise by 987%-1,195%.

6. Affected by Typhoon “Maysak,” Liuzhou in Guangxi issues a red rainstorm warning. Twenty-nine rivers exceed alert levels, and the Fangcheng River sees the largest flooding since 1982.

7. SK hynix is considering listing in the U.S. to attract more AI investors. It expects AI capital expenditures to reach $1.1 trillion by 2027—possibly surpassing U.S. defense spending for the first time.

8. A giant whale shorts BTC on Hyperliquid with 15x leverage, indicating strong bearish sentiment. Addresses linked to entities under sanctions received more than $100 billion in cryptocurrency last year.

📡 Daily News Snapshot | July 05

Over the past 24 hours, global markets have moved sideways in a fierce tug-of-war between escalating geopolitical risks and structural opportunities. The U.S. and Iran announced they would pause talks for a week; Supreme Leader Ali Khamenei’s funeral in Iran introduced new variables into the Middle East situation; and safety for navigation through the Strait of Hormuz became the focus. After sharp swings, the cryptocurrency market rebounded—Bitcoin is back above $63,000—but panic sentiment and tightening regulation coexist. Competition in the AI sector is heating up; domestic chips have achieved milestone breakthroughs, yet concerns about a bubble and increased divergence in earnings have intensified. Investors should watch for policy signals from next week’s Federal Reserve and European Central Bank meeting minutes, while also tracking progress in U.S.-Iran talks and the persistence of demand for AI hardware.

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📊 Global Macro

1. Weak U.S. employment data: In June, full-time employment fell by 514,000 to 133.66 million, the lowest since December 2024. It declined for three straight months and has dropped a cumulative 2.24 million since January, reinforcing expectations that the Fed will restart rate cuts in October.

2. OPEC+ confirms production increases: In principle, it agreed to raise oil production quotas by 188,000 barrels per day in August. Brent crude is nearing $70. Wall Street warns of possible oversupply next year, putting downward pressure on oil prices.

3. China’s logistics and consumption rebound: June’s logistics business confidence index rose to 50.6%. Express parcel volume has already exceeded 100 billion deliveries (9 days earlier than last year). The commodity price index edged down slightly, easing cost pressures for enterprises.

4. U.S. Treasury interest costs hit a record: Total Treasury debt stands at $39 trillion. Annual interest expense is about $1 trillion, worsening fiscal pressure; the Department of Defense has launched a $300 million carbonated lithium strategic reserve program.

5. Regulatory overhaul under the Trump administration: Plans to repeal 702 administrative regulations, expected to save $1.5 trillion in costs. The redesign of U.S. dollar banknotes includes a printed Trump signature.

💰 Crypto Market

1. Bitcoin rebounds to $63,000: Over the past 24 hours, the total liquidations across the market were $239 million (mainly long liquidations), and analysts expect a potential rebound to $70,000 in July. But a surge in exchange deposits suggests volatility may increase.

2. Diverging ETF fund flows: U.S. spot Bitcoin ETFs saw net outflows for the eighth consecutive week, setting a historical record. However, a daily inflow reversal occurred. Coinbase’s negative premium set the longest record, indicating weak U.S. demand.

3. Dense regulatory and compliance developments: Europe’s Revolut delisted USDT due to MiCA authorization issues. A Germany-based bank will open crypto trading to 50 million customers. South Africa released guidelines on taxation for crypto assets.

4. Meme coin bubble bursts: Nearly one million investors collectively lost $3.81 billion on Trump-themed tokens. Meme coins’ market-cap share fell to 3.7%, the lowest in three years, as capital rotates toward more stable assets.

5. Progress in the Ethereum ecosystem: Vitalik published a “simplified” roadmap aimed at reducing transaction costs by more than 10x through native STARK verification. Next week, token unlocks worth over $1.1 billion will occur, and the market is watching liquidity risks.

🤖 AI & Technology

1. Landmark breakthrough in domestic chips: Peking University and the Chinese Academy of Sciences jointly developed the world’s first memristor neuromorphic dynamics chip. Brain-modeling speed is reportedly 50–478x faster than NVIDIA A100, and the achievement was featured in the journal *Science*.

2. AI giants’ competition intensifies: Reports say OpenAI will release GPT-5.6 next week. Google’s Gemini 3.5 Pro is expected to launch on July 17. Anthropic has started developing its own AI chips, and NVIDIA has introduced the HORIZON and ASPIRE frameworks.

3. AI hardware demand remains robust: Hon Hai’s June sales rose 52.1% year over year. YD Technology Co. Ltd. expects net profit growth of 57%–120% in the first half. Chengbo Dragon’s net profit surged 74,393%, highlighting an explosion in demand for AI compute power.

4. Concerns about an AI bubble emerge: Yunzhisheng’s share price plummeted 90%. Hongbo shares fell 80% due to alleged earnings fraud and internal infighting. This has raised market concerns about the downsides of an “AI project-based” model and the risks of hype-driven speculation.

5. New regulations hit AI applications: ByteDance and Alibaba will discontinue AI humanoid agent functions on July 15 for complying with the “Interim Measures for the Administration of Humanlike Interactive Services by Artificial Intelligence.” Apple’s Siri AI goes live in the fall only for iPhone 15 Pro models and above.

🌍 Geopolitics

1. U.S.-Iran talks paused for one week: Trump said both sides decided to pause talks until the end of Khamenei’s funeral, during which there will be no firing between them. Iran plans to charge service fees for navigation through the Strait of Hormuz under international standards, and Oman’s sea-lane shipping has seen a sharp reduction.

2. Escalation in the Russia-Ukraine conflict continues: Russian forces claim they control four residential settlements in Kharkiv Oblast. A roughly 1 hour 25 minute phone call between Putin and Trump reiterated a preference for resolving the conflict through political and diplomatic means. Zelensky and Trump agreed to meet during the NATO summit.

3. Middle East situation grows more complicated: Netanyahu plans to visit the White House next week. Israel has confirmed for the first time that it deployed the “Iron Dome” system to the UAE. A Hamas delegation met with Iran’s foreign minister in Tehran, reaffirming support for the Palestinian cause.

4. Joint China-Russia military drills: The two countries announced that in July they will hold a “Joint Naval-2026” joint exercise near Qingdao, and they will also organize joint naval patrols in relevant areas of the Pacific.

5. U.S. extreme weather and security incidents: More than 165 million people face a rare heatwave, and the Washington Metro derailed due to extreme heat. A shooting incident occurred in New York’s Coney Island, injuring 8 people.

📈 Stock Market Updates

1. Clear divergence in A-share performance: Dongfang Shenghong expects first-half net profit to rise 987%–1,195% year over year. China Merchants Energy Shipping (CMES) is up 214%–248%. However, more than 52 billion yuan in funds reportedly withdrew from technology stocks, and Nomura believes AI demand growth has not yet peaked.

2. Revised rules for refinancing: The CSRC will establish a shelf issuance system for targeted placements, standardizing the pricing benchmark date as the first day of the issuance period and extending the lock-up period to 36 months, compressing arbitrage space.

3. Thematic investing and bubble warning: Xingye Technology won a seventh consecutive daily limit after planning to acquire indium phosphide business, and the CSRC issued a warning

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📡 8-hour recap | Jul 05 16:00-24:00

Over the past 8 hours, the market has swung violently among geopolitical tensions, a surge in AI hardware demand, and changing expectations for macro policy. OPEC+ confirmed an increase in production for August, putting pressure on oil prices. AI-computing-related companies’ earnings surged, but Cloud Intelligence’s stock price plunged 90%, raising concerns about a bubble. In the crypto market, volatility intensified—Bitcoin has been trading in a range around $62,000, while regulatory and compliance developments have been coming thick and fast.

Macroeconomy

1. OPEC+ has, in principle, agreed to raise oil production quotas in August by 188,000 barrels per day. Seven countries including Saudi Arabia and Russia will adjust output, reiterating their commitment to market stability. Brent crude is near $70, and Wall Street warns of a potential oversupply next year.

2. Citi expects the Federal Reserve to restart rate cuts in October, as the rationale for hikes has disappeared, which could benefit liquidity in the crypto and RWA markets. Germany plans to increase its 2027 net additional borrowing to EUR 118 billion.

3. Three departments allocated 15,000 units of central disaster-relief supplies to Guangxi and Liaoning to respond to Typhoon “Maysak” and torrential rain and flooding. The Ministry of Water Resources has launched a Level III emergency response for flood defense in Guangxi.

4. South Korea plans to use tax incentives for the chip industry to set up a future fund to support investment in advanced technologies. China’s CXMT has launched pilot production for a bonded DRAM production line, and the technology may be ahead of South Korea.

5. South Africa’s tax authority released a draft guide on taxation of crypto assets. The China Payment and Clearing Association has warned about the risk of cross-border gambling involving virtual currencies, as regulatory updates continue to intensify.

Crypto Market

1. Bitcoin has been hovering around $62,000–$63,000, with a week-on-week gain of nearly 5%. Binance’s net outflows for the week reached $1.23 billion. Ethereum withdrawal volume hit a three-year high, and market volatility has increased.

2. Memecoin’s market cap share has fallen to 3.7%, the lowest in three years. Investors are shifting toward more stable assets. Big Brother Maji opened an ETH long position with 25x leverage worth $15.84 million and faces liquidation risk at high resolution.

3. The odds of the U.S. crypto bill “CLARITY Act” being signed have risen to 52%. MicroStrategy CEO predicts that inflows of institutional funds will replace the halving as the main driver of future growth.

4. Next week, more than $1.1 billion worth of tokens will be unlocked, including $796 million unlocked for RAIN. The market is watching liquidity risks closely. Solana’s active addresses over the past 7 days reached 31.38 million, up 38% year over year.

5. AI investment research platform LinqAlpha completed a $22 million Series A round, using AI technology to provide investment analysis for the crypto market. The Ethereum Foundation granted 2,469 stETH to the nonprofit developer organization Argot.

AI Technology

1. Foxconn’s June sales rose 52.1% year over year. Its AI rack shipments continued to grow. Foxconn, an NVIDIA server-assembly partner, saw quarterly sales up more than 40% beyond expectations, highlighting sustained strong demand for AI hardware.

2. Yonden Co., Ltd. expects net profit in the first half to grow 57%–120% year over year, benefiting from the surge in demand for AI computing power driving higher volume and pricing in the fiber optics market. Dragonchip’s first-half net profit surged 74,393%.

3. Cloud Intelligence’s stock price plunged 90%, exposing the drawbacks of an AI project-based model and triggering concerns in the market about a potential burst of the AI bubble. CICC pointed out that after short-term disruptions, investors should focus on two main lines: technology rebound and interim report performance.

4. ByteDance and Alibaba, in response to new regulatory rules, will take down the functionality of humanoid AI agents in their AI applications. StarPhone released its first AI Agent smartphone that can independently complete tasks.

5. QTS, a data center operator under Blackstone, has halted the Virginia state project—the largest data center project globally—due to community opposition and power bottlenecks. Biren Technology plans to place H shares to raise about HKD 6.069 billion.

Geopolitics

1. Russia’s Ministry of Foreign Affairs said Europe is unlikely to offer constructive ideas to mediate the Ukraine issue. Russia’s presidential press secretary said the country is open to peace talks and hopes the United States can play a mediation role.

2. Israeli forces shelled the town of Dahresh Shirin in southern Lebanon with artillery. The head of Israel’s General Staff warned that if the ceasefire agreement is violated, Israel is ready to launch an offensive in Lebanon at any time. A shooting incident in New York’s Coney Island left 8 people injured.

3. In Yemen’s Hodeidah, in the southwest sea area, a cargo ship triggered a distress alert, saying it is being attacked by unidentified armed attackers. The number of merchant ships escorted by U.S. forces through the Strait of Hormuz dropped sharply to 70, escalating regional tensions.

4. Three sons of Iran’s late Supreme Leader Khamenei attended public farewell ceremonies in Tehran. Maritime trade between Iran and Qatar resumed after being disrupted for about five months.

5. In Ukraine’s Chernobyl nuclear exclusion zone, wildfires and strong winds formed a “fire tornado.” The fire is not yet fully under control, but radiation levels remain within normal range.

Stock Markets and Thematic Investing

1. Dongfang Shenghong expects first-half net profit to grow 987%–1,195% year over year. China Merchants Energy Shipping expects first-half net profit to grow 214%–248%. Tianshan Aluminum expects first-half net profit to grow 101.52%.

2. Several funds, including Invesco Nasdaq 100 Technology ETF and the CSI BioTechnology ETF (Harvest Fund), suspended trading on July 6 or issued risk warnings because their trading prices in the secondary market were trading at significant premiums.

3. Hsingye Technology, a leather enterprise, gained seven consecutive daily price limits after proposing to acquire indium phosphide business. The CSRC warned to strictly investigate any market manipulation disguised as technology-related activity. Cathay Haitong noted that thematic investing in areas such as robotics, commercial spaceflight, and new AI materials has risen again.

4. JD plans to use robots to replace 700,000 delivery workers, drawing attention to the wave of logistics automation. Cainiao’s domestic supply-chain business will be merged into Alibaba’s e-commerce.

5. The maiden flight of the Long March 10th Yi is scheduled to lock in July 10 to 13. It will verify the world’s first “seaborne net-recovery” technology. China successfully launched 15 sets of satellites from the Qianfan polar-orbit constellation.

Market Sentiment: The market overall is showing a “icy and fiery” split—AI hardware and interim-report performance stocks are leading strongly. However, concerns about an AI bubble, geopolitical tensions, and rising volatility in the crypto market are boosting risk-avoidance sentiment. Investors should remain alert to structural opportunities after short-term shocks.

📡 On-the-hour Updates | 22:00-23:00

1. The number of merchant vessels escorted by the U.S. through the Strait of Hormuz has sharply dropped to 70, far below the pre-conflict average of 138 per day, suggesting that rising regional tensions may disrupt global oil and trade flows.

2. Analyst Guo Mingchi predicts that the foldable iPhone will replay the iPhone X pattern: shipments in 2H26 are expected to be around 7–8 million units, with a price of about US$2,300–2,500. Initial supply constraints may drive up resale prices.

3. A research note from China Merchants Securities states that market adjustments triggered by Meta’s sale of computing power are not a sign of non-computing-related oversupply; after near-term disruptions, focus should shift to a dual track of technology “repairs” and the performance of the interim reports.

4. A research report from Cathay Haitong points out that investment themes such as robotics, commercial aerospace, AI new materials (e.g., CCL/high-end MLCC/indium phosphide), and the revitalization of Xinjiang are seeing a resurgence.

5. Israeli Prime Minister Netanyahu says that unless Hamas’ armed capabilities are completely dismantled and Gaza is demilitarized, Israel will not allow the start of reconstruction efforts in Gaza.

6. It has been reported that Changxin Memory has secretly begun developing and producing “bonding DRAM” in Hefei, aiming to achieve high-performance DRAM manufacturing without using EUV lithography machines.

7. China successfully launched the Qianfan 15-satellite 15-group (batch) into orbit. A Long March 8A carrier rocket launched from the Hainan commercial spaceport placed the satellites into their planned orbit.

8. SK hynix plans to raise US$29 billion through a U.S. listing, aiming to attract AI investors and directly compete in the AI memory chip market.

📡 Hourly News Update | 21:00-22:00

1. Guinea-Bissau confirms its first case of monkeypox. The health authorities have initiated the national response mechanism, and the public is urged to stay vigilant.

2. Wildfires continue to spread in southern France. The burned area has reached 1,500 hectares. Seven hundred firefighters are involved in the firefighting efforts, and 80 residents have been evacuated.

3. Yunzhisheng’s share price plunges by 90%, exposing the drawbacks of an AI project-based model and triggering market concerns about the bursting of an AI bubble.

4. Israeli Prime Minister Benjamin Netanyahu decides not to comply with a ruling by the Supreme Court, intensifying the constitutional crisis—marking a first in history.

5. Citigroup expects the U.S. Federal Reserve to restart rate cuts in October, as the reasons for tightening have disappeared. This could be positive for both cryptocurrency and liquidity in the RWA market.

6. The Long March 7th Y launch of the Changzheng-10B (the first flight of the “Long March 10B”) is scheduled to take place from July 10 to July 13, validating the world’s first “marine net system recovery” technology.

7. China’s first batch of 80 tons of aid for disaster relief in Venezuela departs from Beijing, carrying items including generators, water purification trucks, and more.

8. China Merchants Securities points out that after short-term disruptions, attention should shift to two main themes: technology’s recovery and the performance shown in the interim reports. The AI industry trend has not been disproven.

📡 Hourly Update | 20:00-21:00

1. AI research and investment platform LinqAlpha completes a $22 million Series A funding round, led by AVP. It uses AI technology to provide investment analysis for the crypto market.

2. An analysis by The New York Times says that about 1 million $TRUMP retail buyers collectively lost $3.81 billion, while about 500,000 early wallets made $4 billion in profit, forming a typical meme-coin wealth transfer.

3. Israel’s Chief of Staff of the Israel Defense Forces says it has taken control of all core strategic outposts within the Shebaa’a Farms highlands and warns that if a ceasefire agreement is breached, it is ready to launch an offensive in Lebanon at any time.

4. Due to the impact of Typhoon “Maysak,” China’s Ministry of Water Resources has initiated a Level III emergency flood-defense response for Guangxi. It is expected that rivers such as the Xijiang will experience floods above warning levels.

5. Biren Technology plans to place 153 million new H shares at HK$46.20 per share. The total proceeds are about HK$7.069 billion, to accelerate commercialization of the next-generation products and expand production.

6. The Ethereum Foundation has granted 2,469 stETH (about $4.34 million) to the nonprofit developer organization Argot to support Ethereum ecosystem development.

7. Chunshuitang has released a humanoid companion robot with a retail price of about RMB 15,000. It features body temperature, expressions, vision, memory, and proactive chat functions, with mass deliveries planned to begin in August.

8. Germany plans to raise its net new borrowing for 2027 to €118 billion. The move is attributed to debt-service costs increasing due to tax revenue coming in below expectations and rising interest rates.

📡 Top-of-the-hour News Update | 19:00-20:00

1. The press secretary for the President of Russia, Peskov, said Russia is open to peace talks and expects the United States to play a mediating role. He also accused the European Union of turning into a military and political bloc, which has worsened the situation in Ukraine.

2. Affected by Typhoon “Maysak,” parts of services on the Guangzhou–Zhanjiang High-Speed Railway, the Shenzhen–Zhanjiang Railway, the Shanghai–Kunming Railway, the Beijing–Guangzhou Railway, and other routes have been suspended from July 5 to July 7.

3. ByteDance and Alibaba, in response to new regulatory rules, will discontinue the humanoid AI agent feature in their AI applications.

4. The commercial attaché at Iran’s embassy in Qatar said that maritime trade between Iran and Qatar has resumed after an interruption of about five months.

5. In Ukraine’s Chernobyl nuclear exclusion zone, a “fire tornado” has formed due to wildfires and strong winds. The fire has not yet been fully contained, but radiation levels are currently within normal ranges.

6. In the cryptocurrency sector, Solana’s number of active addresses over the past 7 days reached 31.38 million, up 38% year over year. It ranks first among public chains. “Maji Big Brother” opened a leveraged ETH long position worth $15.84 million with 25x leverage, facing high liquidation risk.

7. QTS, a data center operator under Blackstone, has halted Virginia’s largest data center project, citing real-world challenges such as community opposition and power bottlenecks.

8. OpenAI has reportedly submitted an IPO application in secret, aiming to go public in 2027 at a valuation of $1 trillion. It has also proactively offered the U.S. government a 5% equity stake to hedge regulatory risk.

📡 On the Hour Update | 18:00-19:00

1. OPEC+ agreed to raise oil production quotas by 188,000 barrels per day starting in August. Seven countries, including Saudi Arabia and Russia, adjusted their output and reiterated their commitment to market stability.

2. Bitcoin broke above $62,000. The probability of the U.S. cryptocurrency bill, the “CLARITY Act,” being signed rose to 52%, with market sentiment neutral to slightly weak.

3. NVIDIA server assembler Foxconn saw a 40%+ quarter-on-quarter increase in sales, exceeding expectations. AI rack shipments are expected to maintain momentum, highlighting growth in demand for AI hardware.

4. The National Defense Department deployed to prevent floods and typhoons. The National Meteorological Center issued six warnings. In eastern Guangxi, there were locally extremely heavy rains, and Dalian, Liaoning launched a Level IV flood-control emergency response.

5. Three sons of Iran’s late Supreme Leader Khamenei attended the public farewell ceremony in Tehran. Thousands of people and political and military officials took part, as regional tensions remain high.

6. South Africa’s tax authority released a draft guideline on taxation of crypto assets. China’s National Payments Clearing Association warned of cross-border gambling risks involving virtual currencies, with regulatory developments coming rapidly.

7. Houthi forces in Yemen attacked government troops, killing 14 people. A cargo ship was also struck in waters near Yemen, keeping maritime security conditions tense.

8. Next week, more than $1.1 billion worth of tokens will be unlocked. Of this, RAIN will unlock $796 million, and the market is focused on liquidity risks.

📡 On-the-hour Update | 17:00-18:00

1. Several funds, including the Nasdaq 100 Technology ETF (Invesco), the S&P Biotechnology ETF (Jimco), the Nasdaq 100 ETF (Guangfa), the Nasdaq 100 ETF (E Fund), and the China International Gold Silver LOF, were halted on July 6 or issued risk warnings due to large premiums at secondary-market trading prices. Investors are reminded to invest prudently.

2. Bitcoin is hovering near $63,000. The week’s gain is nearly 5%, and slower ETF outflows have boosted bullish sentiment. Michael Saylor predicts that institutional capital inflows will replace the halving as the main driver of future growth.

3. A cargo ship in the southwestern waters near Hodeidah, Yemen, triggered a distress alert, saying it is being attacked by unidentified armed assailants. A shooting incident on Coney Island in New York during U.S. Independence Day left 8 people injured.

4. OPEC+ is expected to approve another increase in oil production in August. After the U.S.-Iran ceasefire agreement, international oil prices have fallen back to pre-war levels. Brent crude is close to $70, and Wall Street warns of a potential supply glut next year.

5. The Tsinghua special-award recipient Gu Yuxian has joined DeepSeek; its official V4 release is expected in mid-July. StarPhone has launched its first AI Agent phone that can independently complete tasks.

6. South Korea plans to use tax incentives from the chip industry to set up a future fund to support advanced technology investment. Meanwhile, China’s CXMT has started production of a DRAM bonding pilot line; the technology may be ahead of South Korea.

7. Memory giant Jiangbo Long saw first-half net profit surge by 74,393%, earning RMB 11 billion. Pu Yuan Jingdian expects its attributable net profit in the first half to rise year-on-year by 113%-163%.

8. Cui Dongshu of the China Passenger Car Association said that the adjustment to vehicle and vessel taxes is a landmark step in the rollout of the reform toward equal rights for oil and electricity. Namibia’s President Nangetwe has arrived in Guangzhou to begin a state visit to China.

📡 Top-of-hour news | 16:00-17:00

1. Yinding Co., Ltd. expects that net profit in the first half of 2026 will increase year-on-year by 57%–120%, mainly benefiting from the surge in AI compute demand, which drives both the volume and pricing of the fiber market upward.

2. The Israeli army shelled the southern Lebanese town of Deir Sirian while a shooting incident occurred in New York’s Coney Island, leaving 8 people injured, including 4 children; the geopolitical situation remains tense.

3. Binance had a net outflow of $1.23 billion for the week. Ethereum withdrawals hit a three-year high, increasing market volatility; the market capitalization share of memecoins fell to 3.7%, the lowest in three years.

4. Olaid expects first-half net profit to jump year-on-year by 492%–604%; solidifying its core competitiveness in the equipment business is expected to drive revenue growth.

5. JD plans to replace 700,000 delivery workers with robots, drawing attention to a wave of logistics automation; Cainiao’s domestic supply-chain business will be folded into Alibaba’s e-commerce.

6. Best announced that its humanoid robot business is still in the sample stage; related revenue in the first half was only RMB 223,000, which will not have a major impact on performance.

7. Three departments allocated 15,000 units of central disaster-relief supplies to Guangxi and Liaoning to respond to typhoons and heavy rain and flooding.

8. Leather company Xingye Technology won seven consecutive daily-limit moves after planning to acquire an indium phosphide business; the CSRC warned to strictly investigate any attempts to use technology as a pretext to hype stocks.

📡 Top-of-the-hour bulletin | 15:00-16:00

1. Russia’s Ministry of Foreign Affairs said Europe is unlikely to offer constructive ideas to mediate the Ukraine issue, as geopolitical tensions remain elevated.

2. The “OPEC+” group, in principle, agreed to raise oil production quotas in early August by 188,000 barrels per day, increasing expected crude oil market supply.

3. Hon Hai reported that June sales grew 52.1% year over year, and expects third-quarter AI rack shipments to continue growing.

4. Dongfang Shenghong expects net profit to rise 987%-1195% year over year in the first half, benefiting from improved supply-demand conditions in the petrochemical industry.

5. The Bank of Korea warned that leveraged ETFs tied to Samsung and SK hynix could further amplify market volatility, and plans to strengthen monitoring.

6. China Merchants Energy Shipping expects net profit to increase 214%-248% year over year in the first half, as the tanker shipping market enters a super-strong boom cycle.

7. CICC recommends building a long position in agricultural products on dips over the long term; 2026 may bring a turning point in the cycle.

8. Tianshan Aluminum expects net profit to grow 101.52% year over year in the first half, as higher prices of electrolytic aluminum products drive profitability growth.

📡 8-Hour Recap | July 05, 08:00-16:00

Over the past 8 hours, global markets showed a split trend under the interweaving impact of multiple factors: after sharp volatility, the cryptocurrency market rebounded—Bitcoin returned to $63,000, but panic sentiment remains elevated; in geopolitics, Putin and Trump discussed the issue of Ukraine in a phone call, while the situation in the Middle East continues to be tense; competition in the AI and tech sector has intensified, with major players such as OpenAI and Google releasing new models in quick succession, and domestic chips achieving breakthroughs. Overall market sentiment is cautious, with investors focusing on next week’s U.S. Federal Reserve and European Central Bank meeting minutes.

Macroeconomics

1. China’s logistics business confidence index for June rose to 50.6, up 0.3 percentage points from the previous month, showing a broadly balanced rebound across regions; the June bulk commodity price index dipped slightly to 130.3. Pressure on corporate input costs continues to ease, but external input-related risks remain high.

2. The size of U.S. Treasury debt reached $39 trillion, with annual interest expenditure of about $1 trillion—an all-time high—intensifying fiscal pressure; the Department of Defense launched a $300 million lithium carbonate strategic reserve program, targeting the procurement of 162,000 tons over five years.

3. The Trump administration unveiled a regulatory reform plan, aiming to repeal 702 administrative regulations and is expected to save $1.5 trillion in costs; meanwhile, it also rolled out a new design for U.S. dollar banknotes, bearing Trump’s signature.

4. Today marks a reduction in fuel surcharges on domestic air routes, with the maximum deduction per segment set at 50 yuan; in the first half of the year, the country opened 92 new international air cargo routes, mainly to and from Europe and Asia, with cargo structure centered on cross-border e-commerce and high-end manufacturing.

Crypto Market

1. Bitcoin rebounded to $63,000, recovering the drop seen at the end of June. XRP led gains among major coins. However, a surge in exchange deposits suggests increased volatility; if prices break below $60,000 or fall toward $53,000.

2. In the past 24 hours, net liquidations across the entire crypto market totaled $207 million, with losses on short positions of $147 million. A whale account that shorted Bitcoin 40x was forcibly liquidated four times in a row, with total losses of nearly $300,000.

3. U.S. spot Bitcoin ETFs saw net outflows for the eighth consecutive week, setting a record for the longest streak in history. Nearly 1 million wallets holding TRUMP Meme coin are in a loss state, with cumulative losses of about $3.81 billion.

4. Vitalik Buterin released an “Essentials” roadmap for Ethereum, aiming to reduce transaction costs by more than 10x through native STARK verification, among other methods. The Crypto Fear & Greed Index fell to 24, indicating extreme fear.

5. In 2025, losses from crypto scams reached $17 billion. Experts noted that AI-driven scamming methods have surpassed improvements in detection tools. In South Korea, the number of new listings by the top five exchanges in the first half plunged 74%, affected by tighter regulation and a sluggish market.

AI and Tech

1. Reportedly, OpenAI will launch GPT-5.6 next week. Google’s Gemini 3.5 Pro is expected to be released on July 17, intensifying competition in the AI space. Apple’s Siri AI is scheduled to launch in the fall, limited to iPhone 15 Pro and above models; unlocking the highest-tier on-device AI models requires 12GB of memory.

2. A team from Peking University and the Chinese Academy of Sciences has developed the world’s first millisecond-level neural dynamic system chip based on phase-change memristors. The brain-modeling speed is reportedly 50–478 times faster than NVIDIA A100.

3. Huawei’s Ting He Ting Bo? (Hua Wei) published a V2 version of the “Dao/Ding Law” paper, detailing the evolution roadmap of Kirin and Ascend chips, and adding engineering details and tested data. The localization rate of domestic semiconductor equipment is expected to rise from 21% in 2025 to about 43% in 2028.

4. Micron is investing about $9.3 billion in Hiroshima, Japan, to expand its wafer fab to produce high-bandwidth memory needed for AI. Shipments are expected in the summer of 2028. U.S. tech giants’ data center leasing commitments hit an all-time high, with scale reaching $850 billion.

5. Alibaba’s Tongyi Qianwen and ByteDance’s Doubao notified users that their AI Agent services will be taken offline on July 15, effective the same day as the implementation of the “Interim Measures for the Administration of Human-Like Interactive Services of Artificial Intelligence,” jointly released by five departments.

Geopolitics

1. Putin and Trump spoke for about 1 hour and 25 minutes. Putin reiterated a preference for resolving the Ukraine issue through political and diplomatic means, while Trump said he is willing to keep mediating the conflict. Zelensky also had a phone call with Trump and agreed on a meeting during the NATO summit.

2. The militaries of China and Russia announced that joint naval exercises “Joint Sea-2026” will be held near Qingdao in July. They will also conduct joint naval patrols in relevant areas of the Pacific Ocean to jointly respond to security challenges.

3. Medvedev warned that Iran possesses “hot nuclear weapons” in the Strait of Hormuz? (Actually, Medvedev referred to the Strait of Hormuz / near there). Once the strait is blocked, global oil transportation would be interrupted. Vessels on the Oman route in the Strait of Hormuz have sharply decreased, and Iran has continued to strengthen control of navigation routes.

4. More than 165 million people in the U.S. face significant or extreme heat-related health risks caused by a rare heatwave, and many places have refreshed their highest temperature records for the same period. A subway train near Washington, D.C. derailed after tracks buckled due to the extreme heat.

5. Israel for the first time confirmed that during the conflict involving the U.S., Israel, and Iran, it deployed the Iron Dome air-defense system to the UAE to strengthen military cooperation between the two countries. A Hamas delegation met with Iran’s foreign minister in Tehran, reaffirming support for the Palestinian cause.

Stock Market and Regulation

1. More than 52 billion yuan in funds withdrew from A-share technology stocks. Nomura Securities believes the storage supply shortage will persist and AI demand growth has not yet hit its peak. Cathay Thong? (Guotai Junan?) Tong? released its first broker semiannual earnings preview, expecting a year-over-year increase of 27%–30% in net profit attributable to shareholders in the first half of the year.

2. The CSRC revised refinancing rules, establishing a system for shelf issuance of directed share placements. Pricing benchmark dates will be unified as the first day of the issuance period, and the lock-up period will be extended to 36 months to compress room for arbitrage.

3. The stock price of Nayuki Tea? (Nayuki the Tea) fell 96%. Due to strategic missteps, it shifted from high-end positioning to value-for-money, landing it in a predicament of store closures and losses. In the late stage of the bull market, retail investors’ “profit effect” was weak, with more than 200 billion yuan in wealth transferred to top-tier major holders.

4. PC and memory hard drive prices have remained at elevated levels. Distributors suggest that those without urgent need should not buy, and prices are not expected to fall for at least one year. Memory market conditions in Huaqiangbei have recovered, but

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📡 Hourly News Report | 14:00-15:00

1. Israel has for the first time confirmed that during the Israel–US–Iran conflict, it deployed the “Iron Dome” air defense system to the UAE to strengthen military cooperation between the two countries.

2. OPEC+ has, in principle, agreed to raise its oil production target by 188,000 barrels per day starting in August, while continuing the gradual path of production increases.

3. In 2025, losses from cryptocurrency scams reached $17 billion. Experts note that AI-driven scam methods have surpassed advancements in detection tools.

4. Apple’s Siri AI will launch in the fall, limited to iPhone 15 Pro and above. It also requires 12GB of memory to unlock the highest-tier on-device AI model.

5. U.S. tech giants’ data center leasing commitments hit a record high, reaching $850 billion, reflecting a surge in demand for AI computing power.

6. Iranian citizens mourn the late Khamenei. Trump said it was “all fake crying,” which was rebutted by Iran.

7. China’s independently developed nuclear fusion reactor superconducting magnets have completed acceptance testing. The “artificial sun” project is expected to be completed by the end of 2027.

8. Wang Guizhong from Harvest Fund says she is optimistic about China’s technology assets and the accelerating domestic AI catch-up trend, with particular focus on optical communications and semiconductor equipment.