---
title: "Multiple headwinds spark a sharp selloff; NVDA teams up with SK hynix | Daily News Recap"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41585470.md"
description: "0608 | Dolphin Focus: 🐬 Macro/Industry 1) HK and A-shares suffered a broad selloff today. A blowout US NFP flipped rate-cut expectations and pushed UST yields higher, with the tech-led rout on Wall St. spilling into APAC; Korea hit a circuit breaker and Japan tumbled, amplifying fear.High-multiple AI and semiconductor names led the de-rating, driving clear negative spillovers. Adding to the pressure, global houses such as Goldman Sachs have downgraded HK equities, and epic IPOs like SpaceX slated for this week are siphoning liquidity; the confluence of headwinds triggered panic foreign selling and a stampede among onshore funds..."
datetime: "2026-06-08T08:25:43.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41585470.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41585470.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41585470.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# Multiple headwinds spark a sharp selloff; NVDA teams up with SK hynix | Daily News Recap

## 0608 | **Dolphin Research Focus**

## **🐬 Macro/Industry**

**1.** China A-shares and HK stocks sold off broadly today after a blowout US NFP print reversed rate-cut expectations and pushed UST yields higher, triggering a sharp tech selloff in the US that spilled over to APAC. KOSPI circuit-breakers and a steep Nikkei drop amplified risk-off sentiment.

High-valuation AI and semis led the de-rating, creating clear negative spillovers. In addition, recent downgrades on HK equities by global IBs such as Goldman Sachs, combined with a powerful liquidity 'siphon' from epic IPOs like SpaceX this week, fueled foreign outflows and a stampede by existing funds.

## **🐬 Single Stocks**

**1.**$NVIDIA(NVDA.US)

NVIDIA announced a multi-year deep tech partnership with SK hynix to co-develop next-gen memory for AI supercomputing, PCs, and robotics platforms. SK hynix will leverage NVIDIA AI tools to accelerate chip simulation and build a digital wafer fab, aligning both sides on a long-term AI hardware roadmap.

The tie-up targets tight memory supply amid global AI capacity expansion, securing upstream capacity while enabling intelligent design and smart manufacturing to cut costs. It further entrenches NVIDIA’s full-stack AI hardware moat and lifts sentiment across the memory supply chain.

**2.**$TENCENT(00700.HK)

Company insiders said WeChat Pay is running early internal tests of AI payments with its in-house agent WorkBuddy, alongside a dedicated AI virtual card within the balance wallet. The solution features three layers of risk control — fund limits, ring-fenced usage, and final manual PIN verification — enabling conversational purchase commands and an end-to-end smart ordering and payment loop, with plans to open payment APIs to more AI agents.

AI payments fill the critical transaction gap for agent commercialization, marking a milestone for China’s internet AI consumer ecosystem. This broadens WeChat Pay use cases and stickiness, and offers an industry template for AI transaction risk control, expanding Tencent’s FinTech monetization runway over the medium to long term.

**3.**$XIAOMI-W(01810.HK)

Xiaomi launched the China-market 17T and 17T Pro, bringing the T-series back domestically. The standard model uses Dimensity 8500 Ultra with a 6,500mAh battery, while the Pro upgrades to Dimensity 9500, a 7,000mAh silicon-carbon battery, and Leica-tuned telephoto imaging, with flat eye-care displays across the lineup aimed at the mid-range flagship segment.

The T-series fills Xiaomi’s mid-range flat-screen flagship gap, with Leica imaging plus jumbo batteries as key differentiators, helping defend domestic share and deepen high-end cooperation with Dimensity. Smartphone hardware refreshes also sync with Xiaomi’s AI devices and robotics ecosystem, supporting a valuation rebound for HK-listed consumer electronics.

**4.**$SpaceX(SPCX.US) $Alphabet(GOOGL.US)

Ahead of its IPO, SpaceX disclosed that its combined SpaceXAI unit (integrating the former xAI) has signed landmark compute leasing deals with Anthropic and Google. Anthropic and Google will pay $1.25bn and $0.92bn per month, respectively, to lease a total of 330k NVIDIA GPUs from SpaceXAI.

At full utilization, the long-term contracts imply $26bn in annualized recurring revenue, with total contract value exceeding $70bn. This underscores that even leaders like Google and Anthropic still face tight demand for high-end GPU compute amid rapid frontier model iteration and commercial scale-up.

## **🐬 Top Gainers**

**A-shares:** data processing & outsourcing; tobacco; oil & gas E&P;

**HK:** commercial & residential mortgage finance; diversified financial services; security & alarm services;

**US:** household cleaning products; reinsurance; P&C insurance.

## **🐬 Watch Tomorrow**

**1.** China May trade balance (RMB bn); China May trade balance in USD (USD bn);

**2.** US Apr trade balance (USD bn); US Apr wholesale sales MoM.

Risk disclosure and statements: [Dolphin Research Disclaimer and General Disclosure](https://support.longbridge.global/topics/misc/dolphin-disclaimer)

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## Comments (2)

- **Macintosh Lee · 2026-06-08T08:29:12.000Z**: 🥱Already transferred some HKD in another Longbridge account, ready to load up for a sneak attack on 2x SK Hynix...
  - **Dolphin Research** (2026-06-08T08:32:24.000Z): 👍👍