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**Kuaishou (01024) repurchased 1.165 million shares for nearly 50 million HKD last Friday, while Alibaba (09988) repurchased 4.161 million shares for $49.99 million, and the Hang Seng Index opened high by 54 points with SMIC rising nearly 3%**

A-Share Earnings Surge: 69 companies disclosed 2026 semi-annual previews with 62 positive results, including 45 with significant growth, indicating a robust earnings recovery.
Tech Clarification (Zhongji XuChuang): Optical module leader officially debunked rumors of material封锁 and low-tech assembly status, confirming core silicon photonics capabilities.
Regulatory Reforms: CSRC improves re-financing rules (shelf issuance); A-share trading rules updated on July 6, lifting ST stock price limits from 5% to 10%.
PBOC Liquidity Injection: Central bank executed a 1 trillion yuan, 3-month buyout reverse repo to ensure market liquidity, reversing previous shrinking trends.
Vehicle Tax Policy Change: Tax exemptions for pure electric/plug-in hybrid commercial vehicles will be cancelled starting Jan 1, 2027, ending the 15-year subsidy era.
AI Leverage Volatility: Global tech sell-off triggered massive drops in leveraged ETFs (e.g., SK Hynix ETFs down >30%), highlighting risks in AI speculation.
Major Corporate Capital Moves: Alibaba ($49.99M buyback), Kuaishou (~$70M buyback), and Ningde Times (CarbonScape entry) executed significant capital operations.
Banking Sector Risk: Wuhan Zongbang Bank placed under a one-year administrative takeover due to severe credit risks by national regulators.
QDII Fund Restrictions: Top QDII funds restricted or suspended subscriptions due to high returns in global tech sectors to protect existing holders.
IPO Market Surge: 98 IPO applications accepted in just two days (June 29–30), with 242 total accepted applications for the year so far.

Despite a broad rise in Tokyo stocks fueled by cheap oil, the market saw a mixed "one-step-forward, one-step-back" performance with a temporary drop of over 1,100 yen due to profit-taking selling in AI-related shares and the impact of falling U.S. stocks.

The Tokyo Stock Exchange experienced volatile movements, with lower oil prices boosting many stocks but AI-related stocks facing profit-taking selling.
A significant disparity exists in local tax revenues; critics argue the delivery tax system fails to fulfill its original purpose.
The strong yen is viewed not as a threat but as an opportunity to promote growth investment, supported by the Bank of Japan’s Tankan survey showing industry resilience.
Long-term interest rates hit a 29-year high of 2.810%, raising inflation concerns and triggering government bond selling.
Ultra-long-term residential mortgages are increasing; reduced interest portions can be invested to offset higher rates and housing price surges.
Kioxia’s market capitalization grew 50-fold in 1.5 years, surpassing Toyota, as it prepares a stock split and US listing amid the AI boom.
Global competition in semiconductor memory investment is intensifying due to AI-driven demand, creating risks of fierce market fluctuations.
New summer-line personal care products are designed to reduce discomfort from moisture, odor, and itching, improving user experience.
Mitsubishi’s Delica D:5 achieved an unprecedented record high in its 19th year, with popularity exceeding that of rival Alve.
Micron Technology has begun construction at its Hiroshi factory to strengthen production capacity for AI-oriented memory semiconductors.

Bitcoin has jumped above $63,000, reversing its end-June losses, marking a significant recovery in the crypto market.

Bitcoin has surged above $63,000, successfully reversing losses from late June, though experts remain divided on proposals to freeze Satoshi's 1.1 million BTC due to growing quantum computing threats.
Despite U.S. bans, Americans traded over $571 million on Polymarket for political betting, highlighting the robust demand for decentralized prediction markets like Kalshi, which are currently embroiled in legal battles across the U.S.
Banks have shifted their focus from debating whether stablecoins fit into finance to determining how to implement them, with a growing consensus that collateral quality, rather than yield, will determine which stablecoins succeed.
How ethical hackers utilized a mere $3,000 server to expose a critical flaw that could have jeopardized $70 billion in crypto assets, underscoring severe security vulnerabilities in the current infrastructure.
AI models from major companies (including Google Gemini, Meta, and Claude) are generating aggressive price predictions for Bitcoin, Solana, and XRP by the end of 2026, with some predicting massive surges for Meta Platforms stock.
Bitcoin ETFs are experiencing significant volatility, with funds like FBTC and ARKB driving a $221.7 million reversal, while IBIT continues to lose value, indicating a shifting landscape for institutional crypto investment.
Tokenization is evolving beyond simple asset representation, with NYLIM executives identifying "personalized portfolios" as the next major use case for blockchain technology.
JP Morgan and other financial institutions are cautioning that Bitcoin investor Michael Saylor's leverage-heavy strategy poses a significant risk to the broader Bitcoin ecosystem, despite his bullish market stance.
Grayscale's Ethereum Staking ETF has faced internal turmoil with the resignation of its CFO, adding to the narrative of operational challenges within major crypto asset management firms.
Barstool's Portnoy has publicly argued for pushing Bitcoin to zero after repeatedly mistiming the market, contrasting sharply with the prevailing bullish sentiment and AI-driven price forecasts.

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