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US markets were led by a Broadcom-driven chip sell-off, as weaker guidance sparked a broader tech pullback and renewed caution over the S&P 500’s near-term outlook.

Investors are debating whether SpaceX can justify extreme IPO valuations, with bullish and bearish views sharply divided.
Market attention is turning to chip stocks, after Broadcom’s weakness sparked concern about a broader semiconductor sell-off.
Several biotech names moved higher on a confirmed screwworm case in Texas, highlighting how event-driven headlines can lift individual stocks.
Analysts see continued upside for some industrial and healthcare stocks, citing strong charts and strategy changes.
AI-related companies remain in focus, with Alphabet preparing a major stock sale to help fund its artificial intelligence spending.
Bank strategists warn that a tech-led pullback in the S&P 500 may be building, suggesting investors consider downside protection.
Bitcoin-related assets are under pressure, as capital rotation toward AI and a crypto selloff weigh on treasury firms and Strategy.
Rubrik and other software names are drawing attention after strong guidance and updated outlooks reinforced growth momentum.
The quantum computing and data center sectors are gaining traction, with IPO and private funding activity signaling rising investor interest.
Oil and macro headlines point to supply stress, geopolitical risk, and lingering market concerns over debt, inflation, and financial repression.

Hong Kong stocks weakened at midday, with the Hang Seng Index falling 205 points as HSBC dropped over 3% and Lenovo slumped 5.5%.

Chinese insurers were reported to have bought dim sum bonds through the Bond Connect Southbound scheme.
Japan’s real wages per worker rose 1.9% year on year in April, marking the fourth straight month of increase.
Japan’s foreign exchange reserves fell to $1.305874 trillion at the end of May.
BYD is secretly developing a humanoid robot project codenamed “Yao Shun Yu.”
The Reserve Bank of India left interest rates unchanged as expected, and the Indian rupee edged higher.
Reports said China’s securities regulator met Hong Kong brokerage leaders in Shenzhen to review progress on cleaning up mainland existing clients.
Hong Kong stocks were weaker at midday, with the Hang Seng Index down 205 points and HSBC and Lenovo under pressure.
Anthropic urged the world to slow frontier model development, warning that self-improving AI could pose major societal risks.
Tencent said most of its code this year was generated by AI and that China is already leading globally in AI cost optimization.
Multiple news items highlighted AI, semiconductors, robots, 6G, capital markets, and property as the main themes driving regional market and policy attention.

Tokyo stocks fell sharply, with the Nikkei briefly dropping over 1,600 points as investors sold semiconductor shares amid caution after recent highs.

Japanese stocks fell for a second straight day, with the Nikkei pressured by heavy selling in semiconductor-related shares amid concerns that the market had risen too far, too fast.
The Tokyo market briefly dropped by more than 1,600 yen and fell below the 66,000-yen level, showing strong risk-off sentiment.
The yen traded around 160 per dollar in Tokyo and New York, with moves influenced by geopolitical developments and shifts between “safe-haven dollar buying” and yen buying.
Japan’s foreign exchange reserves fell by as much as 5.6%, to about 209 trillion yen at the end of May, likely reflecting funds used for currency intervention.
The government is considering food-related tax cuts and subsidies for restaurants and farmers to offset the impact of lower sales, while the prime minister pledged strong support.
PayPay plans to acquire an insurance company in the T&D Group for about 130 billion yen, expanding its insurance offerings.
Rapidus received an additional 150 billion yen in government investment, underscoring official backing for advanced semiconductor development as a key growth investment.
Major companies are making product and business adjustments, including Ito Ham’s simpler packaging and lower-priced new items, as well as a possible Yamada Denki–Edion integration.
Some industries are under pressure, such as a stocking manufacturer in Nara heading toward bankruptcy as demand declines, with related companies also affected.
Local and community-focused business initiatives are also emerging, including a Lawson store in Osaka serving as a regional hub and Tobu showing interest in regular operation of a special SL tourist train.

Bitcoin led a broad crypto selloff, plunging near $62,000 amid an unwinding AI trade and renewed bearish warnings that it could fall further to $60,000 or even deeper.

Bitcoin is under renewed pressure and may fall toward the $60,000 level.
BTC has already dropped to around $62,000 as speculative AI-related trading cools off.
Some prominent market voices are warning that Bitcoin could see a much deeper correction before any major long-term upside.
Zcash has sold off sharply after a serious bug was disclosed, erasing confidence in the project.
Hyperliquid has pulled back from record highs, and major traders are reducing exposure after missing or revising price targets.
Rising concern over crypto market structure, due diligence, and tokenization is pushing regulatory and advisory issues into the spotlight.
The Crypto Clarity Act remains a major policy focus, especially around provisions meant to block bad actors.
Political tension is building around crypto regulation, including scrutiny of charter decisions and pressure from lawmakers.
XRP has come under heavy selling pressure, hitting multi-month lows even as bullish narratives about adoption continue.
Broader debate continues over whether some crypto networks, especially certain Ethereum layer 2s and perps DEXs, still have strong long-term reasons to exist.

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