☕️ [Task Coins Giveaway] Daily Market Talk — SPCX Debuts, Semis Surge 8%

Midday update: The worst week for markets flipped into one of the best days. Trump called off planned Iran strikes and declared the deal "basically done", sending the semis index up about 8%, with SanDisk up roughly 14% and Applied Materials, Micron, Marvell and Intel all up 9 to 11%. TSMC is reportedly eyeing a 15% price hike on advanced chips. SpaceX (SPCX) begins trading today as the largest IPO in history, while Adobe fell after hours despite a revenue beat.

💬 Today's 3 Big Questions

1. TSMC is reportedly weighing a price hike of up to 15% on advanced nodes, its most aggressive in years, as demand structurally overwhelms supply. Paired with today's semis index +8% (SanDisk +14%, Applied Materials +11%, Micron +11%, Marvell +11%, ASML +10%), is this confirmation the AI chip trade is fully back on after last week's capex-driven selloff?
2. SpaceX (SPCX) opens today as the biggest IPO ever, raising about $75 billion at a roughly $1.75 trillion valuation, already bigger than Tesla, but with only a ~4% float. With Iran de-escalating and risk appetite snapping back, what is your opening-day plan: buy the open, wait for the first pullback, or skip entirely?
3. Adobe beat Q2 revenue at $6.62 billion but its CFO resigned and the stock fell after hours. In recent sessions Oracle slid on capex and SMCI on dilution, and now Adobe on a leadership exit. Has the market shifted to punishing any capital or leadership uncertainty for AI names, and how does that change how you screen them?

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📊 Quick Market Recap

🌍 Global Macro & Markets

• Oil plunged and gold reclaimed the 4,200 level after Trump called off planned Iran strikes and said the deal is "basically done", with a weekend signing expected. The Strait of Hormuz closure risk receded fast.
• TSMC is reportedly weighing a price hike of up to 15% on advanced nodes in 2H 2026, its most significant pricing move in years, a direct read on how strong and supply-constrained AI demand is.

🇺🇸 US Markets: Semis Explode 8%, SpaceX Goes Public

• 📈 Nasdaq +2.54% to 25,809, S&P 500 +1.75% to 7,394, Dow +1.86% to 50,849, with the semis index up about 8%, its biggest single-day move in months and ending a two-day selloff.
• SanDisk (SNDK) +14%, Micron (MU) +11%, Marvell (MRVL) +11%, Applied Materials (AMAT) +11%, ASML +10%, and Intel (INTC) +10% on a Bank of America upgrade. SanDisk led the pack as memory and equipment names recaptured the week's losses in a single session.
• SpaceX (SPCX) begins trading today on Nasdaq at $135 a share, raising about $75 billion at a roughly $1.75 trillion valuation, the largest IPO ever. With a thin ~4% float, price discovery means trading likely opens late morning US time (Singapore evening).
• Adobe (ADBE) beat with record Q2 revenue of $6.62 billion (+13%) and raised guidance, but fell about 5% after-hours after CFO Dan Durn announced he is leaving on June 15 to become CFO of Marvell.

🇸🇬 Singapore Markets

• 📈 SGX May securities daily turnover hit S$2.4 billion, the strongest since October 2007. Derivatives volume rose 20% YoY, STI ETFs logged a 15th straight month of net inflows, and retail participation hit a 13-year high. The STI set a record high of 5,072 in May, and the Iran-relief rally may push it back toward that level.
• OCBC (O39) became the first bank to use Singpass beyond Singapore, letting Singaporeans and PRs remotely open OCBC Malaysia business accounts, cutting a two-to-three-week process as SMEs ride the Johor-Singapore SEZ.
• DBS (D05) will offer tokenised physical gold to retail via digibank in H2 2026, a Singapore first, each token backed by one gram of vaulted gold worth about S$200.
• Backdrop: Singapore's millionaire count rose to 141,000 on 2025 GDP growth of 5%, and the city captured 96% of Southeast Asia's disclosed M&A value in Q1.

🇭🇰 Hong Kong & China Markets

• 📈 HSI -0.65% to 24,249, Hang Seng TECH -1.46%, HSCEI -1.22%, lagging the US rebound as China's May CPI held at just +1.2%.
• Alibaba (9988) is reportedly bidding about $1.5 billion for Chinese fresh-grocery platform Pupu, pushing deeper into instant retail.
• Decliners included SMIC -3.7%, Xiaomi -3.2% and Lenovo -9.5%.

📅 Key Events Tonight / This Week

• 🇺🇸 SpaceX (SPCX) first day of trading on Nasdaq, indicative quotes from around 10:15am ET (tonight SGT)
• 🇺🇸 University of Michigan consumer sentiment, June preliminary, Friday evening SGT
• 🌍 US-Iran deal signing watch, reportedly this weekend
• 🇺🇸 MSCI early inclusion of SPCX, from June 13

Disclaimer: For reference only, not investment advice.