☕️ [Task Coins Giveaway] Daily Market Talk — China Tech Roars Back

Money rotated hard out of US AI hardware and into China tech. Alibaba ripped 11%, dragging the whole China complex up while US chips wobbled. Meanwhile the Fed minutes flagged AI itself as an inflation risk, and oil spiked again on fresh US strikes in Iran. Let's dig in 👇

📊 Quick Recap — What Moved & Why

🇺🇸 US — Split Tape: Fed Hawkish, Oil Up, Chips Mixed

🔑 Key Event: A divided market. 📉 Dow -1.09%, S&P 500 -0.28%, but Nasdaq +0.20%. The June FOMC minutes landed hawkish: a few officials saw a case for a rate hike, upside inflation risk is now the core debate, and the Fed flagged AI capex among the big forecast uncertainties. Banks and airlines lagged, energy and semis led, and the dollar firmed while gold slipped.

👀 Other to Watch

Apple (AAPL) & Broadcom (AVGO) → Apple committed over $30B to a multiyear Broadcom chip deal (15B+ US-made chips, plus a $1.5B Fort Collins expansion). AVGO rose about 6% to $393.
SK Hynix (SKHY) → its US IPO is more than 7x oversubscribed, on track to raise around $28B and become the largest-ever US listing by a foreign company (topping Alibaba's 2014 debut). Prices Thursday, trades Friday.
SpaceX (SPCX) → fell below its $150 debut price to close $149.29, a fresh all-time low, a day after joining the Nasdaq-100. A lawsuit threatening to shut its Colossus 2 data center clouds a $45B Anthropic contract.
Meta (META) → announced a C$13B, 1-gigawatt data center in Alberta, its first in Canada. The AI buildout keeps expanding even as chip stocks correct.

@CLuo : "Product delay rumors briefly hit chip stocks and triggered panic selling, but Nvidia quickly denied the claims. For long-term investors, this looks more like noise than a thesis change."

🇭🇰 HK/China — Alibaba Lights the Fuse

🔑 Key Event: A blistering session. HSI +2.99% to 24,199, Hang Seng Tech +4.97%, led by Alibaba +12% in HK (11%+ in its US ADR), its best day in nearly a year. UBS flagged cloud revenue growing 45%, and reports that China may let Alibaba buy limited Nvidia H200 chips added fuel. Capital is rotating out of pricey US AI hardware into cheaper China software.

👀 Other to Watch

Baidu, JD, Kingsoft Cloud → all jumped 5-11% alongside Alibaba as the whole China tech complex re-rated.

@Marina Bay : "The ban on foreign tools plus focus on own models (Qwen, Qoder, robotics) could accelerate self-reliance, a long-term positive amid China policy support. Alibaba has priced in a lot of bad news and appears oversold to some observers."

🇸🇬 Singapore — Banks Hit Records, REITs Poised to Turn

🔑 Key Event: STI is holding near its record around 5,340, with the three big banks (DBS, OCBC, UOB) printing fresh highs even as global tech churns. UOB Kay Hian and DBS both turned constructive on S-REITs, trading at 0.9x book with a 6.2% forward yield, arguing the discount is rate-driven, not fundamental.

👀 Other to Watch

Foundation Healthcare (FHH) → SGX IPO oversubscribed 9.4x (public offer), raising S$242M; began trading July 8.
Beng Kuang (BEZ) → secured S$85.2M in new offshore contracts in H1, including West Africa FPSO work.
MAS → proposed a Protected Cell Company framework to scale alternative insurance risk solutions.
🛍️ Retail sales grew just +3.0% YoY in May, cooling from April's 5.4%.

@Dacai : "Suntec Reit still holding steady like a beacon in a sea of red (other than the three big banks which made new highs) today. Earnings on 23 July; if the numbers are good, good chance to move above 1.5."

🌍 Other

🛢️ Oil spikes again → the US struck 80+ Iranian targets overnight and Trump threatened to re-blockade Hormuz. WTI +4.4% to $73.52, Brent +5.2% to $78.02, before easing as Trump said he doesn't expect full-scale war to resume.
💵 Rates & FX → bond yields jumped and the dollar firmed on the hawkish Fed minutes; gold and silver weakened.

📅 Key Events Tonight / This Week

🇺🇸 SK Hynix (SKHY) prices Thursday, Nasdaq debut Friday Jul 10
🇺🇸 Q2 earnings season kicks off next week (big banks)

💬 Money just rotated out of US AI hardware and into China tech, with Alibaba up 11% while US chips stalled. Is this the start of a durable China tech comeback, or just an oversold bounce to fade?

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🚫 No duplicates · ⏰ Deadline: July 9, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏