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Jeremy Grantham's warning that the U.S. market is the most expensive in "American history" and his call to flee equities before an epic crash

Major Tech Sell-Off and Rotation: A significant rotation out of the tech sector is occurring as the second quarter ends, with over 20 major tech stocks dropping below their all-time highs and the Nasdaq suffering a weekly loss exceeding 4%.
OpenAI IPO Delay and GPT-5.6 Hold: OpenAI is reportedly delaying its IPO due to US government requests, and the release of its GPT-5.6 models has been staggered, casting uncertainty on the company's near-term market debut.
AI Infrastructure and Data Center Power Surge: AI data centers are projected to consume 70% of all memory chips by 2026, driving a surge in demand for data center power solutions, highlighted by Jefferies' upgrade of FuelCell Energy to a Buy rating.
Grantham's Bearish Warning on US Equities: Legendary investor Jeremy Grantham has declared the current US market the most expensive in "American history" and is urging investors to flee US equities before an epic crash occurs.
Tech Weighting Cuts and AI skepticism: Following noticeable cuts to tech stock weightings by major groups, experts argue that "it is difficult to see how everyone in the AI and tech sector wins," prompting a broader skepticism of the sector's long-term dominance.
Chip Industry Concerns and "Parabolic" Warnings: Marcus Lemonis and market strategist Jim Cramer have expressed deep concerns over US investment in chip companies, with Cramer noting chip stocks have gone "parabolic" and warrant immediate caution.
Strategic Shifts in Google and Apple: While market experts remain constructive on Google's long-term prospects, the tech sector faces leadership changes, including the departure of a smart glasses executive from Apple to join OpenAI.
SpaceX and Argus Holdings Rating Changes: SpaceX has come into the spotlight as Argus Holdings initiates a "Hold" rating, reflecting a cautious approach to the company's valuation amidst broader tech market volatility.
Nvidia CEO's Wake-Up Call and Policy Shifts: The Nvidia CEO has issued a serious wake-up call to Americans regarding the AI future, while political tensions rise as Trump threatens a 100% tariff on countries that tax digital services.
Vision Pro and AI's "New Phase": Apple's executive departures and the launch of new tech products like Vision Pro signal a "new phase" in AI, with key industry leaders like Qualcomm's CEO emphasizing the transformative nature of the technology.

The most critical event for the Hong Kong market is the significant decline in the Hang Seng Index, which fell another 405 points, accompanied by a sharp drop of nearly 6% in Alibaba's stock price, breaching the 90 yuan level, and a 9% plunge for Sun xing, reflecting continued market weakness and investor caution.

Target Price Adjustments for Optical & Semiconductor Stocks: Major banks significantly adjusted target prices for MEITUAN (rising to $1,700), SHENZHOU, and CTRIP (falling to $60), reflecting diverging sector outlooks.
US Stock Market Capital Outflow Surge: US equities recorded their first capital outflow since March, with technology funds seeing a historic weekly outflow of $9.3 billion, signaling a shift in investor sentiment.
New Energy System "15th Five-Year Plan" Release: The National Development and Reform Commission released a plan setting 2030 goals including 25% non-fossil energy consumption and over 50% wind/solar power capacity as the primary electricity source.
China's Central Bank Introduces Overnight Reverse Repo: The PBOC announced new overnight reverse repo operations on June 29–30 to match short-term liquidity, a key move toward price-type monetary policy reform.
AI-Driven Semiconductor & Advanced Packaging Expansion: AI demand is accelerating domestic expansion in semiconductor silicon wafers and advanced packaging, with major players like Changjiang Technology announcing $7.8 billion in new capacity.
Stock Market Liquidity and IPO Quality Concerns: Reports indicated "advertising-style" packaging in IPO prospectuses slowing approvals, while the Hang Seng Index dropped 405 points amidst broad market weakness.
Government Fiscal and Wage Adjustments: The Legislative Council approved civil servant salary adjustments, and Hong Kong's average wage rate rose 3.4% annually in March, reflecting economic stability pressures.
Significant Corporate Actions in Energy and Pharma: China Gas reported a 16.4% drop in annual net profit; JCAB repurchased over 9.7 million shares, and LIangbang Medicine's IPO price surged 2.9% in dark trading.
Divergent Market Performance in A-Blocks: The A-share market showed extreme structural divergence; tech/AI indices hit record highs while over 4,200 individual stocks declined, creating a gap between index performance and broad sentiment.
Global Trade and Tariff Volatility: The upcoming US "232 Tariff" report is expected to trigger global hoarding of AI-related metals (copper, tungsten), with COMEX copper inventory hitting a historic 650,000 tons.

The Japanese stock market experienced a historic downturn as the Tokyo Stock Exchange closed below 70,000 yen, marking the third-largest decline in history amid overheating concerns.

Support for farmers and food industry amid consumption tax cut faces funding limitations despite calls for expanded aid.
Proposed consumption tax cut avoids deficit financing, with funding secured through subsidy reviews and other measures.
Funding shortfall after tax cut raises concerns about intensified foreign asset sales, with Prime Minister’s stance unchanged.
Former foreign employee of Goldman Sachs subsidiary faces an 18.99 million yen penalty proposal for suspected insider trading.
Kansai Economic Association advocates promoting long-term employment experiences through academia-industry collaboration.
656 shareholder meetings held on concentrated day, with CEOs apologizing for poor performance or scandals while investor proposals remain high.
Korean stocks sharply fall by over 8%, prompting trading halts, with Samsung Electronics and SK Hynix experiencing significant declines.
Tokyo Stock Exchange closes below 70,000 yen amid overheating concerns, marking the third-largest drop in history.
Lixil closes Nagoya factory in March 2027 due to declining housing construction and aging buildings, with 513 employees reassigned.
Cosmetics company faces penalty proposal related to “BOTANIST” brand expansion, with an undisclosed trademark rights transfer noted.

Dogecoin Faces Danger: Data Shows DOGE Price Could Collapse

Ripple's CEO maintains a bullish outlook on Bitcoin but argues that Michael Saylor's current strategy has negatively impacted the broader crypto market.
Dogecoin and Hyperliquid's HYPE token experienced the largest weekly losses in crypto as investors shift focus toward AI stocks.
Aave and Solana ecosystem tokens drove the recent crypto rebound as Bitcoin price stabilizes near the $60,000 level.
A U.S. House Democrat, who may soon lead a key committee, strongly criticized the inclusion of cryptocurrencies in 401(k) retirement plans.
A former leader of the Ethereum Foundation warned about a potential funding gap resulting from shifting governance structures.
An anti-trafficking organization claimed that Section 604 of the proposed Clarity Act could undermine accountability measures.
VirtuAl's Jansen Teng stated that AI agents are rapidly evolving into autonomous economic actors capable of independent transactions.
Securitize expects to raise $400 million as the tokenization firm prepares for its upcoming public listing debut.
CoinDesk's 20-performance update shows AAVE surged 8.9%, becoming the top driver lifting the entire index higher.
Goldman Sachs noted that while Wall Street's IPO revival is growing, it has not yet reached the euphoric levels seen during the dot-com era.

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