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U.S. markets were driven by SpaceX’s historic IPO debut, with the stock jumping sharply and triggering major moves across space, satellite, and broader tech shares.

SpaceX’s public debut is driving major market attention, with traders focusing on its IPO and the stocks connected to it.
Related “proxy” stocks and space-sector names are seeing sharp moves as investors search for ways to gain exposure to SpaceX.
Several analysts argue that SpaceX is worth buying because of its strong launch business and competitive “moat.”
Some experts caution that SpaceX’s very high starting valuation could reduce future upside for new investors.
Options activity in space stocks has surged as traders rush to express bullish views on SpaceX indirectly.
SpaceX’s historic IPO has become a major headline event, with shares jumping and Musk reaching a landmark level of wealth.
The IPO is also affecting broader markets, including declines in some space and satellite stocks and a shift in focus across U.S. equities.
Political criticism is emerging, with Elizabeth Warren targeting the IPO and calling for greater scrutiny of Musk’s wealth.
Analysts and commentators are debating whether SpaceX is fairly priced, with some saying the launch is not overpriced while others remain skeptical.
Looking ahead, experts are discussing SpaceX’s long-term growth, possible market reshuffling, and whether the company could become even larger over time.

Hong Kong stocks rebounded sharply as the Hang Seng Index jumped 468 points, led by a 15% surge in Chow Tai Fook after earnings and broad market turnover picked up.

China’s M2 money supply rose 8.6% year on year in May, matching market expectations.
New RMB loans in mainland China totaled 9.11 trillion yuan in the first five months, slightly above forecasts.
Hang Seng Hong Kong-U.S. Tech Index will add SpaceX, reflecting growing market attention to the company.
HKEX said it is not adjusting the price-limit rules for Hang Seng Biotechnology Index futures for now.
Tencent Cloud is providing World Cup live-streaming technology services for official broadcast platforms in 16 countries and regions.
International oil prices fell more than 4% after reports that a U.S.-Iran agreement may reopen the Strait of Hormuz and ease sanctions on Iranian oil.
BNP Paribas kept a neutral view on China and Hong Kong equities, advising investors to watch AI growth themes and high-dividend defensive stocks.
Hong Kong stocks rebounded strongly, with the Hang Seng Index up 468 points; Chow Tai Fook surged after earnings, while SMIC turned lower.
Hong Kong home-price indexes showed weekly gains, suggesting the property market continued to recover.
China’s securities regulator said it will comprehensively advance a new round of capital-market reform and opening-up, giving the STAR Market a greater pilot role.

Japan’s market rallied as Kioxia surged to a record market cap above 44 trillion yen, overtaking Toyota for the first time on strong data-center demand.

An ethnic Korean-affiliated credit union in Japan was hit with a partial business suspension order after regulators said it had a culture of organizational concealment and may also face criminal complaint over hidden embezzlement of customer deposits.
Kioxia’s market capitalization topped 44 trillion yen, briefly putting it ahead of Toyota for the first time, thanks to strong demand from data centers.
The life insurance industry plans to rename insurance saleswomen as “Sonaeru-jyu,” aiming to move away from the old “life insurance lady” image.
The Tokyo stock market rose sharply, supported by optimism over AI and easing tensions in the Middle East, while Kioxia became the market cap leader.
At the World Cup opening, yen weakness continued to hurt travelers and fans, with concern growing again about possible currency intervention.
The yen started trading in the 160-yen range in Tokyo, as the “buy dollars in a crisis” trend faded and Middle East anxieties eased.
In New York, the yen strengthened to the high 159-yen range after the U.S. said it would halt attacks on Iran, and the dollar weakened as a safe-haven asset.
U.S. stocks rebounded strongly, with the Dow jumping 929 points after President Trump’s decision to stop the Iran strike was received positively.
Nissan is reportedly shortening the maximum term for outside directors from eight years to six as part of internal rule revisions meant to improve governance transparency.
Japan saw a series of business and policy developments, including Mitsui Chemical’s 144 billion yen acquisition of a U.S. firm, new government AI guidelines allowing audio and images, rising rice and frozen-food prices, a record-high fuel surcharge for JAL Europe/U.S. flights, and concerns over a possible leak of the premium Ehime citrus “Red Princess” seedlings to China.

The most significant crypto event is SpaceX's historic IPO, which will be the largest ever and marks the same day its stock begins trading on Solana, potentially reshaping blockchain-integrated equity markets.

VanEck says BNB could stand out in the crowded crypto ETF market because of its real-world usage.
SpaceX’s strong Nasdaq debut is being seen as a major market event with possible spillover effects for crypto.
Bloomberg analysts report that most Bitcoin ETF investors have not sold despite recent outflows.
Kalshi’s crypto perpetual products are raising debate over whether they should be classified as futures or swaps.
The U.S. government is investing $2 billion in quantum computing, but defense companies are struggling to keep pace.
Sam Bankman-Fried has lost his appeal over criminal fraud and conspiracy convictions tied to FTX.
XRP sentiment has dropped to an eight-month low, which has historically preceded buying opportunities.
Ethereum fell slightly in CoinDesk 20 trading, reflecting a generally weaker market session.
Monero surged sharply amid concerns about a large onchain laundering network involving about $120 million.
Recent crypto coverage highlights mixed market signals, including BTC volatility, ETH staking inflows, AVAX weakness, and speculation around future ETF and regulatory developments.

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