Hong Kong-listed AI application stocks moved in different directions, with some names falling sharply while others rose strongly. According to Jin10, Zhipu (02513.HK) fell more than 10% and MINIMAX-W (00100.HK) dropped more than 6%, while Mobvista (01860.HK) gained more than 9% and Meitu (01357.HK) rose more than 8%.

Europe has once again been hampered by its massive bureaucratic system, almost completely excluding AI and related supply chains. In the crypto market, it has the thickest rules but receives the smallest share of the pie.

Australia recorded a goods and services trade balance of -A$3.02 billion in May. According to Jin10, the market consensus expectation was a surplus of A$22.0 billion, compared with a prior reading of A$1.79 billion.

China’s A-share glass substrate concept stocks opened lower in early trading. According to Jin10, Medike fell more than 9%, while JCET Group and BOE A declined more than 7%. Dier Laser, Delong Laser, and other related names also moved lower.

Folarin Balogun scored in the 45th minute to give the United States a 1-0 lead over Bosnia-Herzegovina in their Round of 32 match on Wednesday night. Balogun had an earlier first-half goal overturned for offside before scoring again later in the half, and LeBron James reacted on social media to Balogun’s “Silencer” celebration, according to Yahoo Sports.

Several Hong Kong-listed semiconductor stocks opened lower. According to Jin10, GigaDevice Semiconductor (03986.HK) opened down 12.46%, Montage Technology (06809.HK) opened down 6.8%, and Semiconductor Manufacturing International Corp. (00981.HK) opened down 5.93%. InnoScience (02577.HK) and Novosense Microelectronics (02676.HK) also fell at the open.

UBS lowered its oil price forecasts for 2026 and 2027 after energy shipments through the Strait of Hormuz continued to rise. According to Jin10, UBS now expects Brent crude to average $84 a barrel this year, down $9 a barrel from its earlier forecast. The bank also cut its 2027 oil price forecast to $75 a barrel from $85. UBS said easing geopolitical risks and a rapid rebound in supply led prices to fall more than it had expected. The bank forecast that oil prices would rebound slightly to $80 a barrel in the second half of this year as floating storage in the Gulf region returns to normal and demand recovers. UBS added that the risk premium could be higher because the path back to normal conditions may remain uneven. It also said demand for restocking should continue to support prices through the end of 2027, but the scale of inventory rebuilding needed is smaller than its previously expected 1 billion barrels.

Warsh stated that the Federal Reserve's massive balance sheet is approaching the characteristics of a fiscal tool, and restoring it to a normal size will be a long-term process, with interest rates remaining the main policy driver. Wall Street expects that actual balance sheet reduction will not occur until 2027 at the earliest.

The dramatic price fluctuations of STRC are a natural and crucial part of the cryptocurrency cycle. The market may be very close to its bottom.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 3107, providing you with the latest and fastest news on the digital currency and blockchain industry.

In 2011, Bitcoin stood in two worlds simultaneously for the first time: one world focused on hashes, private keys, blocks, computing power, and the longest chain; the other world focused on exchanges, drugs, donations, law enforcement, password leaks, user losses, and public opinion.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

Stablecoins, Circle, OUSD: From Circle to OUSD: The Offense and Defense of the Stablecoin Sector - Jinse Finance. In the stablecoin sector, who are the original startup teams?

Artificial intelligence: A 30 million yuan investment in Suzhou 18 years ago has grown into the lifeblood of AI. Golden Finance: Suzhou's most profitable investment occurred during the global financial crisis.

This could be the beginning of a shift in stablecoins from being "issuer-driven" to being "payment network-driven".

Ten years is too long, seize the day. I hope people will remember me as a "Crypto Guy".