SK Hynix's US ADR will debut on Friday (10th), and it is reportedly more than seven times oversubscribed.

SK Group Chairman Chey Tae-won will attend the Nasdaq listing celebration ceremony, where he and the company's management team will share SK Hynix's mid- to long-term development strategy, Yonhap News Agency reported.

Chey said earlier this year that the market still views SK Hynix as a company producing general-purpose memory chips, and hence the company's market cap has yet to reflect its value.

During Chey's US visit, he is also expected to meet senior executives from global tech giants including NVIDIA Corporation (NVDA.US) and Tesla, Inc. (TSLA.US).
~

AASTOCKS Financial News
Website: www.aastocks.com

CXMT (688825.SH), the world's fourth-largest DRAM manufacturer, has officially kicked off its STAR Market IPO issuance process. The company plans to publicly issue 6.688 billion shares before the exercise of the over-allotment option, representing approximately 10% of the company's total share capital after the offering.

The initial strategic placement will involve 3.344 billion shares, accounting for 50% of the offering size and approximately 43.48% of the total shares to be issued after full exercise of the over-allotment option.

CXMT is projected to begin IPO subscription next Thursday (16th). The IPO is set to raise at least RMB29.5 billion, marking a record-high fundraising size for a STAR Market IPO.

CXMT expects revenue for 1H to range from RMB110 billion to RMB120 billion, representing a YoY upsurge of 612.53-677.31%. Net profit attributable to the parent company is expected to range from RMB50 billion to RMB57 billion, surging 2,244.03-2,544.19% YoY.
~

AASTOCKS Financial News
Website: www.aastocks.com

SK Hynix will announce the pricing of its US ADRs on Thursday (9th), and the offering has already been oversubscribed by more than seven times, Bloomberg, citing sources, reported.

The IPO of 177.9 million ADRs has attracted interest from global long-only funds, technology-focused funds, sovereign wealth funds and global investors focused on Asian markets, sources divulged.

The US IPO is expected to raise approximately USD24.5 billion, potentially making it the second-largest IPO by an overseas company in the US, behind only the USD25 billion record set by Alibaba Group Holding Limited (BABA.US).

At present, SK Hynix has already attracted subscriptions from Baillie Gifford, Coatue Management and Situational Awareness Partners, involving ADRs valued at up to USD7 billion.

SK Hynix (000660.KS) last soared 7.03% at KRW2.22 million.
~

AASTOCKS Financial News
Website: www.aastocks.com

Middle East tensions escalated rapidly after US President Donald Trump said the temporary ceasefire agreement between the US and Iran ended. DJIA futures once tumbled more than 700 points and last slid 649 points or 1.2%; S&P 500 futures and Nasdaq futures last sank 1% and 1.5% respectively. AI chip giant NVIDIA Corporation (NVDA.US) dipped 1.8% pre-market at USD193.42.

NVIDIA has seen approximately USD1 trillion wiped off its market cap in less than two months, with its share price retreating to valuation levels set before the AI boom. Since setting a record high on May 14, the stock has grossed a decline of 18.2% as investors adjust AI trading strategies, selling NVIDIA and rotating into other semiconductor makers, particularly memory-related stocks.

According to data compiled by Bloomberg, the sell-off has pushed NVIDIA's forward PE down to 18x, the lowest since early 2019. The former market leader is now cheaper than the S&P 500, and the tech-heavy Nasdaq 100. The contraction in NVIDIA's valuation is not owing to deteriorating prospects, as analysts continued to raise earnings forecasts for the coming quarters.

The sell-off reflects a rotation in AI trades toward other segments, such as memory and storage stocks including Micron Technology, Inc. (MU.US). Even NVIDIA's rivals Advanced Micro Devices, Inc. (AMD.US) and Intel Corporation (INTC.US) have logged their share prices more than double or even triple this year.
~

AASTOCKS Financial News
Website: www.aastocks.com

The Middle East situation has deteriorated further. Iran's Islamic Revolutionary Guard Corps (IRGC) said that after the US launched a series of military strikes against Iran in response to attacks on oil tankers in the Strait of Hormuz, Iran attacked US military targets in Bahrain and Kuwait, and shot down a US MQ-9 drone that attempted to interfere with the operation.

After US President Donald Trump said the temporary US-Iran ceasefire agreement has ended, international oil prices jumped up more than 6%. Futures for the three major US stock indices moved lower, with DJIA futures down 627 pts, or nearly 1.2%, at 52,570, while S&P 500 futures and Nasdaq futures fell 0.9% and 1.4%, respectively. Spot gold fell nearly 1% to USD4,065 per ounce.

Memory chip stocks were broadly under pressure in pre-market trading, with Micron Technology, Inc. (MU.US) down 5.2% pre-market, while Seagate Technology Holdings PLC - Ordinary Shares (Ireland) (STX.US), Western Digital Corporation (WDC.US) and Sandisk Corporation (SNDK.US) dived 4.2-5.4% pre-market.

Major European stock markets broadly declined in early trading today. The pan-European STOXX 600 sagged nearly 1.5% to 636.91. The UK's FTSE 100 lost 1.3% to 10,523. France's CAC faded nearly 1.8% to 8,282. Germany's DAX slid 2.1% to 24,940. Italy's FTSE MIB dropped nearly 1.4% to 51,747. Spain's IBEX 35 index lost nearly 2.2% to 19,215. Trump said he did not want any dealings with Spain and wanted to sever all trades.
~

AASTOCKS Financial News
Website: www.aastocks.com

Amazon.com, Inc. (AMZN.US) plans to issue at least USD25 billion of bonds to step up investment in AI infrastructure, Bloomberg, citing sources, reported. The final issuance size will depend on investor subscription and could be increased.

Amazon is reportedly planning to issue up to eight tranches of bonds with maturities ranging from 3 years to 40 years. The spread on the longest-dated bonds due in 2066 narrowed by 0.2 ppts to around 1.25 ppts above US Treasuries.
~

AASTOCKS Financial News
Website: www.aastocks.com

China's smartphone sales faded 13% YoY during the month-long 618 shopping festival, mainly because brands raised selling prices to compensate higher memory costs, Counterpoint Research data showed.

Except for Huawei, other major Chinese brands recorded double-digit sales declines between May 26 and June 21. Among them, Honor's sales plummeted 33%; XIAOMI-W (01810.HK)'s fell 24%; and Apple Inc. (AAPL.US)'s also declined 9%. In contrast, Huawei's sales grew 19% during the period.
~

AASTOCKS Financial News
Website: www.aastocks.com

As Apple Inc. (AAPL.US) approaches the mass production milestone for its first foldable device, the device's UTG ultra-thin flexible glass cover plate, the outermost protective layer of the foldable screen, will be supplied by LENS (06613.HK)(300433.SZ), while final assembly will be handled by Foxconn, according to Lanjing Finance, citing sources.

As mass production ramp-up begins, Foxconn has fully entered production preparation mode. In a bid to supplement production line manpower, the factory is reportedly recruiting temporary workers, summer workers and hourly workers at RMB22-26 per hour for a three-month period from July to October.

At the same time, it is also recruiting full-time employees, with a base salary of RMB2,600 during the probation period and RMB2,950 after confirmation. Including overtime pay, performance bonuses and night-shift subsidies, total income is higher than that of ordinary production lines. In addition, temporary workers can start work immediately without medical examinations.

LUXSHARE ICT (02475.HK)(002475.SZ) is actively developing hinge technology and intends to enter Apple's supply chain for subsequent models, sources divulged.
~

AASTOCKS Financial News
Website: www.aastocks.com

The printed circuit board (PCB) manufacturing for NVIDIA Corporation (NVDA.US)'s next-generation AI server rack system Kyber NVL144 has purportedly hit impasse, resulting in a delay of more than one year. Nvidia responded that the company's roadmap has not changed.

The reported delay further dampened market sentiment toward tech stocks. Hong Kong-listed PBC concept stocks declined yesterday (6th), with YOFC (06869.HK) plunging 14.76%; KB LAMINATES (01888.HK) sliding 12.55%; and KINGBOARD HLDG (00148.HK) tumbling 9.58%.
~

AASTOCKS Financial News
Website: www.aastocks.com

LUXSHARE ICT (02475.HK)(002475.SZ), one of Apple's suppliers, closed its Hong Kong public offering at noon today (July 6). Its public offering was preliminarily around 3.81x oversubscribed, with about 47,000 subscribers, according to market talks.

LUXSHARE ICT plans to globally offer 383 million H shares, with the Hong Kong public offering accounting for about 10% and the international placing portion accounting for about 90%.

The maximum offer price is set at HKD63.28 per share, with expected fundraising of up to about HKD24.266 billion. With a board lot size of 100 shares, the entry fee is about HKD6,391.82. The stock is expected to list on July 9.

A total of 26 cornerstone investors were introduced in this IPO, including Temasek, GIC, Abu Dhabi Investment Authority and TENCENT (00700.HK), which collectively subscribed for shares equivalent to about USD1.5 billion.
~

AASTOCKS Financial News
Website: www.aastocks.com