QtrendsChinese technology firms including Zhipu AI and CXMT stage blockbuster Hong Kong IPOs, driving a wave of megadeals in the market. The US-Iran ceasefire collapses after Trump declares it 'over', triggering oil price volatility and global stock market jitters. China's June CPI growth remains subdued while producer prices hit a near-four-year high. NATO allies distance themselves from Trump's Iran policy following a tense summit. In tech, Apple commits $30 billion to US-made Broadcom chips, signaling a strategic supply chain pivot.
Chinese AI company Zhipu AI is seeking to raise HK$31.4 billion in its Hong Kong IPO, while chipmaker CXMT is targeting US$4.3 billion. Iluvatar CoreX also launched a share sale aiming for HK$7.1 billion. The frenzy highlights a growing divide between massive tech listings and struggling small-cap IPOs in Hong Kong's market.
European NATO allies are increasingly distancing themselves from Trump's hardline stance on Iran following a contentious NATO summit. Trump's verbal gaffes, including referencing an 'Islamic Republic of Japan,' have further strained transatlantic relations. The rift comes as global economic uncertainty deepens amid escalating Iran tensions.
Oil prices surged and global stock markets fell after President Trump declared the ceasefire with Iran 'over' and launched fresh US strikes. Crude later eased from spike levels as markets reassess supply risks. World shares remain mixed as investors weigh the implications of renewed hostilities in the Middle East.
China's consumer price index (CPI) rose modestly in June, falling short of expectations, while producer price inflation accelerated for a fourth consecutive month to a near-four-year high. The diverging trends signal uneven demand recovery: consumers remain cautious while factory-gate costs climb amid rising commodity prices and industrial activity.
Apple announced a $30 billion commitment to design US-made chips with Broadcom, marking a major onshoring push. Separately, a former Apple executive is betting on Shenzhen rather than Silicon Valley to produce the 'next Apple.' Chip industry leaders broadly signal a multi-year expansion cycle ahead.