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US stocks were dominated by AI and chip momentum, with names like Snowflake and Nebius surging as investors rotated into artificial intelligence winners.

Snowflake posted its strongest trading day ever, and HSBC believes the stock may still have additional upside.
Market watchers are focusing on stocks likely to move in the next session, especially around major tech and AI names.
AI continues to lift equities broadly, but it may also create pressure for private credit markets.
Drone-related stocks are gaining attention as reports suggest the U.S. may invest more heavily in the industry.
The CFTC is suing Rhode Island over actions tied to prediction markets, highlighting regulatory conflict in the space.
Technical analysts are debating whether a once-hot apparel stock is now a buying opportunity.
Nebius is surging after a hedge fund manager revealed a stake, adding momentum to the AI-investment theme.
Mike Khouw says he misjudged Zscaler and is now adjusting his trading approach accordingly.
Charles Payne argues that the current era reflects the fourth industrial revolution, driven by major technological change.
Geopolitical and energy headlines remain important, including an Iran ceasefire extension, shifting oil tanker traffic, and shrinking U.S. emergency oil reserves.

Hong Kong stocks rose 176 points as Hang Seng Index closed at 25,182 on strong turnover, led by a more than 21% surge in Lenovo shares to record highs.

Hong Kong Grade-A office markets recorded a net absorption of 275,000 sq ft in the first quarter, with recovery momentum especially strong in core districts.
Goldman Sachs said Dell Technologies’ first-quarter profit beat expectations by a wide margin, highlighting AI servers as a key growth driver, and kept a “Buy” rating.
UBS cut Weibo’s target price to HK$85.7, saying first-quarter results matched forecasts but the outlook has become more cautious.
Switzerland’s KOF leading economic indicator rose to 98 in May, in line with market expectations.
Vanke said it has completed repayment of RMB 33.21 billion in public debt by the end of March, but operating conditions remain very severe.
Taiwan’s first-quarter preliminary GDP rose 14.55% year on year, beating expectations and prompting an upward revision to the full-year forecast.
Hong Kong property indicators improved, with the Centaline City Leading Index reaching 157.45 and weekly home prices rising, while rents hit a near seven-year high.
The Hang Seng Index climbed 176 points with turnover exceeding HK$460 billion, led by a sharp rally in Lenovo, while SMIC fell back after recent gains.
Major brokerages adjusted views on several stocks: Citigroup and UBS cut Weibo targets, Citi upgraded Link REIT, JPMorgan saw limited risk from tighter cross-border regulation for banks and insurers, and Morgan Stanley/others remained selective on names like Pinduoduo and Li Auto.
State-backed and institutional shareholding changes were active, including Temasek increasing its stake in Sany Heavy Industry, Ping An Life adding to China Life, JPMorgan reducing positions in Link REIT and Sanhua, and Tencent continuing share buybacks.

Japan’s markets were led by sharp yen-selling pressure pushing the dollar near 160 yen amid concerns over inflation and fading effectiveness of record-scale currency intervention.

Japan’s large-scale, advance-announced currency intervention appears to be losing effect, and the yen is again nearing the 160-per-dollar level.
During the long holiday period, Japan spent a record monthly 11.7 trillion yen on yen-buying intervention to counter dollar-buying pressure driven by geopolitical uncertainty.
The Tokyo stock market briefly recovered to 66,000 points, while U.S. stocks also kept rising to new highs on hopes for progress in ceasefire and talks.
The yen weakened to the high 159-yen range in Tokyo trading as market participants sold yen on inflation concerns and watched for possible intervention.
Sony Financial Group’s president apologized over improper money transfers involving a life insurance subsidiary, and Sony Life separately disclosed employee misconduct involving more than 150 million yen.
Japanese and U.S. institutions, including the Japanese government and major financial firms, secured access to a new OpenAI model to strengthen cybersecurity measures.
An essay on a baseball manager’s resignation linked the controversy to a broader sense of Japan’s “lost 30 years” of economic stagnation.
There is growing effort to prevent repeat tragedies after an overseas-assignement suicide, with the bereaved family and Kanadevia creating recurrence-prevention measures.
Japanese industries are responding to cost pressures and structural change, including packaging film price increases, concerns over shipping and energy, and reforms in rail and infrastructure policy.
Demographic, educational, and regional shifts continue, including a push to close gender gaps in STEM, changes in tourism demand, and population growth in Tsukuba overtaking Mito.

Bitcoin is the key market drag as record 9-day ETF outflows and weakening whale demand signal a sharp drop in investor appetite, pushing BTC to April lows while stocks keep climbing.

Bitcoin is underperforming other risk assets, and a record ninth straight day of ETF outflows suggests demand is weakening.
Investors have pulled $2.8 billion from Bitcoin ETFs, reinforcing signs that interest in the asset is fading for now.
Bitcoin has fallen to its April lows, showing that crypto is moving differently from U.S. stocks, which are still near record highs.
CryptoQuant says Bitcoin’s large holder supply may be masking a broader shortage of active buyers, with whale buying also stalling.
Bitcoin and ether were mostly flat even as stocks hit records, oil declined, and geopolitical fears eased.
XRP bounced back above $1.30 after a surge in trading volume, but bearish pressure still appears to dominate the overall trend.
Rumors about XRP “delisting” were dismissed, with reports pointing to confusion over DTCC collateral lists rather than any real delisting action.
Ethereum is struggling near $2,000, though Standard Chartered still expects ETH to rise to $4,000 this year.
Solana, Sui, and Aptos wallet data were targeted in a TrapDoor package attack, raising fresh security concerns in crypto infrastructure.
Several market stories point to shifting investor attention, including Strategy’s weaker preferred share performance, OKX Ventures’ $53 million Coinone investment, and growing interest in tokenized assets and prediction markets.

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