Chinese assets explode! U.S. chip stocks collectively counterattack
(Original title: Late at night! Chinese assets exploded! U.S. chip stocks collectively counterattacked) After the U.S. stock market opened, Chinese assets surged across the board. At the same time, chip stocks collectively counterattacked. Chinese assets collectively exploded. Tonight, after the U.S. stock market opened, Chinese assets across the board surged. As of 22:50, the Nasdaq China Golden Dragon Index soared by more than 2%, the triple long FTSE China ETF soared by more than 9%, the 2x long Chinese Internet Stock ETF soared by more than 7%, and the China Overseas Internet ETF and China Large Cap ETF soared by more than 3%.
(Original title: Late at night! Chinese assets explode! U.S. chip stocks collectively counterattack) After the U.S. stock market opened, Chinese assets surged across the board. At the same time, chip stocks collectively counterattacked. Chinese assets collectively exploded. Tonight, after the U.S. stock market opened, Chinese assets across the board surged. As of 22:50, the Nasdaq China Golden Dragon Index soared by more than 2%, the triple long FTSE China ETF soared by more than 9%, the 2x long Chinese Internet Stock ETF soared by more than 7%, and the China Overseas Internet ETF and China Large Cap ETF soared by more than 3%. At the same time, U.S. chip stocks collectively counterattacked. The Philadelphia Semiconductor Index rose by more than 1%. The stock price of U.S. chip giant Broadcom soared by more than 4%. On the news, Apple and Broadcom reached a multi-year cooperation agreement, with the purchase scale expected to exceed US$30 billion (approximately RMB 204 billion). In addition, most storage concept stocks also strengthened, with SanDisk and Western Digital once soaring more than 4%. On the evening of July 8th, Beijing time, after the U.S. stock market opened, popular Chinese concept stocks collectively rose sharply. As of 22:50, Kingsoft Cloud soared by more than 11%, Alibaba soared by more than 10%, Baidu, GDS, and Century Internet rose by more than 5%, JD.com, Pony.ai, and Wuxin Technology rose by more than 4%, iQiyi, Tiger Securities, and Shell rose by more than 3%, and NetEase, Pinduoduo, Ctrip, and Bilibili rose by more than 2%. During today's Asia-Pacific trading session, Hong Kong stocks' technology and Internet sectors surged across the board. The Hang Seng Technology Index once rose nearly 6%, and finally closed up 4.97%, the largest increase since April 8 this year. In terms of component stocks, Zhipu rose by more than 13%, Alibaba rose by more than 12%, Xiaomi Group rose by more than 9%, Kuaishou rose by more than 8%, Baidu rose by more than 6%, JD.com Group and Tencent Holdings both rose by nearly 4%. The surge in Hong Kong stocks is related to recent favorable policies. On July 7, Pan Gongsheng, Governor of the People's Bank of China, stated at the "Hong Kong Fixed Income and Currency Summit and Bond Connect Forum" that in the future, the country's foreign exchange reserves will continue to increase the proportion of asset allocation in Hong Kong and inject more momentum into the development of Hong Kong's capital market. Morgan Stanley recently expressed a view that the rising momentum of the semiconductor sector is weakening and funds are flowing to lagging sectors, including AI hyperscale cloud service providers. This view is positive for the Hang Seng Technology Index, which is dominated by Internet technology stocks. Zhou Junzhi, chief macro analyst at CITIC Securities, said that the shift from underperforming to strong in Hong Kong stocks requires three conditions: an improvement in the global liquidity environment; a stop to downward revisions of profit expectations; and a weakening of micro supply disturbances. "If only one of the three pressures is met, the market is more likely to show a valuation recovery or a phased rebound; two of them begin to reverse, and Hong Kong stocks have a basis for re-pricing; if the three resonate, Hong Kong stocks may switch from offshore discount assets to trend allocation assets." In addition, the International Monetary Fund (IMF) raised its economic growth forecast for China in its latest report. On July 8, local time, the IMF released its "World Economic Outlook", stating that thanks to the development of high-tech manufacturing and infrastructure, it raised China's economic growth forecast this year to 4.6%, an increase of 0.2 percentage points from the April forecast. The IMF predicts global economic growth in 2026 and 2027 to be 3.0% (0.1 percentage point lower than the April forecast) and 3.4% (0.2 percentage point higher than the April forecast) respectively. In terms of the overall U.S. stock market, the three major indexes fell across the board. As of 22:50 Beijing time, the Dow Jones Industrial Average fell 1.4%, the S&P 500 Index fell 0.79%, and the Nasdaq Composite Index fell 0.63%. U.S. chip stocks opened lower and moved higher, with the Philadelphia Semiconductor Index rising by more than 1% and Broadcom soaring by more than 4%. On the news, Apple announced that it has reached a multi-year cooperation agreement with Broadcom, and the purchase scale is expected to exceed US$30 billion. According to the agreement, Broadcom will custom design and produce specialized silicon chips and advanced wireless connection components for Apple, promoting the manufacturing of more than 15 billion chips in the United States. As part of the collaboration, Broadcom will invest $1.5 billion to expand and upgrade its existing manufacturing facility in Fort Collins, Colorado, focusing on the production of high-performance RF components and wireless connectivity technology products, including FBAR filters. Apple said these components will be used in multiple of its product lines and are key components to improve device performance and connectivity.
This cooperation is one of the largest single manufacturing commitments since the launch of Apple's "Made in America Plan" and is also included in Apple's previously announced overall framework of investing $600 billion in the United States over the next four years. Apple CEO Tim Cook said that the advanced components produced at the Fort Collins base are core components that ensure the performance and connection experience of Apple products. This cooperation will deepen Apple's commitment to American manufacturing and innovation. Broadcom President and CEO Hock Tan pointed out that the two parties have established a cooperative relationship for decades, and the new agreement will further expand Broadcom's manufacturing footprint in the United States and strengthen the collaboration between the two parties in the field of technological innovation. In recent years, Apple has continued to increase the diversification and localization of its supply chain. The company previously announced that it will invest approximately US$600 billion (approximately RMB 4.08 trillion) in the United States over the next four years, covering a wide range of areas such as manufacturing, research and development, and employment. According to a report previously submitted by Broadcom, the cooperation between the two parties will be extended to 2031. Broadcom will develop and supply a series of customized ASIC (application-specific integrated circuit) chip products for multiple generations of Apple products. (
This cooperation is one of the largest single manufacturing commitments since the launch of Apple's "Made in America Plan" and is also included in Apple's previously announced overall framework of investing $600 billion in the United States over the next four years. Apple CEO Tim Cook said that the advanced components produced at the Fort Collins base are core components that ensure the performance and connection experience of Apple products. This cooperation will deepen Apple's commitment to American manufacturing and innovation. Broadcom President and CEO Hock Tan pointed out that the two parties have established a cooperative relationship for decades, and the new agreement will further expand Broadcom's manufacturing footprint in the United States and strengthen the collaboration between the two parties in the field of technological innovation. In recent years, Apple has continued to increase the diversification and localization of its supply chain. The company previously announced that it will invest approximately US$600 billion (approximately RMB 4.08 trillion) in the United States over the next four years, covering a wide range of areas such as manufacturing, research and development, and employment. According to a report previously submitted by Broadcom, the cooperation between the two parties will be extended to 2031. Broadcom will develop and supply a series of customized ASIC (application-specific integrated circuit) chip products for multiple generations of Apple products. (