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Asian equities retreated Friday as renewed tech selling erased much of Thursday’s rally. A regional gauge fell 2%, while South Korea’s tech-heavy Kospi slumped more than 4%. Nasdaq 100 futures dropped 0.8% and S&P 500 futures slipped 0.4%, according to Bloomberg.
SoftBank Group plunged 13% after the New York Times reported OpenAI may delay its IPO until 2027, potentially hurting returns for its Japanese backer. The selloff followed a volatile Wall Street session, where the S&P 500 ended flat and Apple sank 6.1% after raising prices across Mac, iPad, and home device lines amid a memory shortage.
SK Hynix, Samsung Electronics, and Kioxia Holdings weighed on Asian benchmarks after strong gains in the previous session. Brent crude fell below $75 a barrel, even as a projectile strike on a vessel in the Strait of Hormuz renewed shipping concerns.
Bond traders trimmed Fed rate-hike bets after May PCE rose 0.4%, below estimates, though annual inflation accelerated to 4.1%. Swaps priced about 34 basis points of tightening by December.

Bloomberg reported, citing the New York Times, that OpenAI is leaning toward postponing its initial public offering until 2027, with three people involved in the company's deliberations indicating that bankers advising the ChatGPT maker have cautioned recent tech-stock volatility — including the post-IPO slide in SpaceX shares following its record debut — could dampen retail investor appetite for OpenAI's listing.
CEO Sam Altman has pushed advisers, including bankers and lawyers, to target a $1 trillion valuation, according to the Times. OpenAI is working with Goldman Sachs Group and Morgan Stanley on a potential listing that could come as soon as the fall, Bloomberg News has previously reported.
The company filed confidentially for an IPO with the US Securities and Exchange Commission on June 9, stating at the time that it had "not decided on timing yet" and that "there are things we want to do that are likely easier as a private company," while keeping the option to go public sooner if conditions prove favorable.
OpenAI and rival Anthropic have been racing toward Wall Street debuts to attract public market capital and support their heavy spending on AI chips and data centers. Anthropic, once considered an underdog, has seen revenue surge this year on the strength of its AI coding and debugging tools and filed confidentially to go public shortly before OpenAI. OpenAI raised $122 billion in a funding round earlier this year, valuing the company at $852 billion including the capital raised.

Prediction market trading volume set a record high for the third consecutive week, with total market volume reaching $14.4 billion last week, according to data released by a16z crypto.
According to Odaily, the figure marks the first time weekly volume has reached $14.4 billion, up from about $5.0–$6.0 billion at the start of the year. The previous record of about $10.0 billion had been set only a week earlier.
Open interest rose to $1.6 billion, also a record high for the third straight week. The data indicated that the pace of new position openings continued to exceed position closures, increasing overall risk exposure.
Non-sports markets posted particularly strong growth, including areas such as macroeconomics and breaking events. Trading volume across Kalshi and Polymarket in these non-sports categories totaled $3.6 billion last week, exceeding the total size of the entire prediction market across all categories last year.

Bitcoin (BTC) rebounded to around $59,800, up 2.7% from Thursday’s low of $58,206, according to CoinDesk, even as Asian equities slid. BTC was still down over 5% this week and nearly 20% for the month. CF Benchmarks head of research Gabe Selby said the $50–60K zone has acted as support since mid-2024 after the U.S. spot ETF launch rally. South Korea’s Kospi fell 8% and Japan’s Nikkei lost 3% amid broader risk aversion.

The U.S. Commodity Futures Trading Commission (CFTC) is seeking public comment on proposed new data reporting rules for fully collateralized event contracts. According to PANews, the proposal would replace the agency’s long-standing patchwork system of individual no-action letters.

Solana (SOL) has fallen about 20% over the past month even as long-term holders moved more coins onto exchanges, signaling steady selling pressure. According to BeInCrypto, Glassnode’s exchange net position change rose from about 57,336 SOL on June 11 to roughly 1,410,650 SOL by June 25, around 25x higher.
Meanwhile, Solana DEX volume’s seven-day average climbed about 39% to around $1.73 billion a day, with activity concentrated in meme coin launchpads and perpetuals. Network fees held near $7.2 million over 24 hours and $200 million across 30 days, while TVL fell about 13% to $4.74 billion.

South Korea activated a temporary trading halt mechanism, known as a Sidecar, after KOSPI 200 futures fell 5%, suspending program trading for five minutes.
According to Odaily, the KOSPI index dropped 5% intraday to 8,477.78.
SK Hynix fell more than 6%, while Samsung Electronics declined 5.7%.

A CITIC Securities research note said the U.S. dollar index has strengthened rapidly in recent days, pushing gold below $4,000 per ounce.
According to ChainCatcher, the note said easing inflation concerns have not led to a weaker dollar.
CITIC Securities attributed the dollar’s recent strength partly to political “re-dollarization,” but said the more important driver is expectations of tighter U.S. dollar liquidity.
The firm expects the dollar index to remain supported this year but said it may be difficult for it to sustain further sharp gains. It added that the next U.S. inflation data release could act as a catalyst for markets to adjust their trading approach.

Serenity, known as the “white-haired stock god,” said in a post on X that global markets are undergoing a correction and it is unclear when it will end. According to Odaily, several major Asian equity indexes posted sharp declines, including South Korea’s KOSPI, Japan’s Nikkei 225, and Taiwan’s weighted stock index.
Serenity said the KOSPI fell 8.18%, including declines involving SK Hynix and Samsung. The Nikkei 225 dropped 4.8%, and Taiwan’s weighted stock index fell 3.82%. Serenity also said SOI and RKLB declined 30% to 40%.
Based on personal experience, Serenity said high-beta stocks tend to be hit harder, often fall ahead of broader market indexes, and typically recover earlier. Serenity added that, aside from South Korea’s typically volatile market, periods when major indexes begin falling 3% to 4% per day are usually not a good time.

An analyst said South Korean media reports indicate SK hynix is widely viewed as almost certain to be included in the Nasdaq 100 Index within this year.
According to Odaily, Citrini analyst jukan wrote on X that the reports also said South Korea’s securities industry is discussing the possibility of Samsung Electronics moving forward with an American depositary receipt (ADR).

Gold has seen accumulation at lower levels, with funds providing tentative buying support, and a rebound could develop if inflation cools.
According to Jin10, the view is that gold may be able to base its recovery on the current concentration zone of holdings if inflation shows signs of easing.
For silver, multiple overhead concentration areas are described as creating resistance, and the key question is whether prices can return to the middle concentration peak.

Russia’s central bank reported that the country’s gold and foreign exchange reserves stood at $743.8 billion in the week ending June 19, up from $729.3 billion previously.
According to Jin10, the update compared the latest weekly level with the prior reported figure.

The company behind the Philippines’ biggest mobile wallet, GCash, is preparing what may become the country’s largest initial public offering, seeking to raise as much as 92.3 billion pesos ($1.5 billion), according to Bloomberg.

SPDR Gold Trust, described as the world’s largest gold ETF, reported a decline in its gold holdings of 6.28 tons from the previous day to 1,007.075 tons.
According to Jin10, the updated holding level was 1,007.075 tons after the day-on-day reduction.

Tether’s stablecoin USDT reached a market capitalization of $186 billion, surpassing Ethereum to become the second-largest cryptocurrency by market value. According to Odaily, Ethereum’s market cap fell below $185 billion after its price dropped 5.2% over the past 24 hours, with ETH briefly declining to $1,510.
Stablecoins currently account for nearly 15% of the total cryptocurrency market capitalization. 21Shares said stablecoin supply fell more than 30% during the previous bear market, but has reached a record high in the current cycle.
Circle’s USDC also surpassed Ripple’s XRP by market capitalization. XRP’s market cap fell to $64 billion, while USDC’s market cap stood at $73.6 billion.

Citi raised its price target on Sandisk to $2,500 from $2,025 after SNDK shares rallied about 4,800% over the past 12 months.
According to NS3.AI, Citi analyst Asiya Merchant maintained a Buy rating on the stock and indicated roughly 30.6% additional upside from current levels.
The update also noted that Raydium and Jupiter added Sandisk to their tokenized stock rosters.

BlackBerry (BB) posted a 26% year-over-year increase in Q1 revenue, beating its guidance and raising its full-year outlook, outperforming broader market weakness tied to higher PCE inflation and a pullback in technology stocks. According to BlockBeats On-chain Detection, BB perpetual contracts on Hyperliquid rose 12.6% over the past 24 hours to $10.28.
On-chain whale positioning was broadly bearish, with total short notional size at about $9.6 million, roughly 2.17 times the long notional size of about $4.42 million, indicating a strong net-short market structure. However, the average short entry price was around $9.25, which has been surpassed by the current price of $10.28, leaving many short positions under pressure. By contrast, the average long entry price was about $9.05, putting long positions in overall unrealized profit.
Liquidation levels showed the nearest short liquidation line at $13.2, about 28.4% above the current price, while the nearest long liquidation line was at $6.72, about 34.7% below.
The most profitable address, 0xfc07, held a 5x leveraged long position with a notional size of about $1.33 million and an entry price of $8.8, with a reported return of 70%.

Ether, XRP and dogecoin led a broad crypto selloff into the weekend as a renewed rout in technology stocks dragged risk assets lower. Ether fell 5.6% in 24 hours to about $1,555, XRP slid 4.9% to $1.03 and dogecoin dropped 3.8% to $0.074, according to CoinDesk, while bitcoin dipped near $58,000 before recovering toward $60,000 and was last around $59,888. CF Benchmarks’ Gabe Selby said large holders have been selling into a market slow to absorb supply, and flagged the $50,000 to $60,000 zone as where buyers have historically stepped in.

Palm oil advanced on rising Malaysian exports and expectations of stronger demand from top buyer India as the festival season nears, according to Bloomberg.

Kazakhstan’s Karachaganak oil and gas field cut crude production by more than a quarter after a drone attack forced the shutdown of a processing plant in Russia that handles its gas, according to Bloomberg.

The U.S. government is nearing a decision on whether to implement a new copper tariff plan, with a key deadline set for late June.
According to Jin10, the U.S. government released a copper tariff proposal in July last year that imposed a 50% tariff on certain copper semi-finished products, while refined copper was temporarily exempt. The plan said tariffs on refined copper would be added in stages starting in 2027.
The proposal’s final outcome is expected to be determined by the end of June. The U.S. Department of Commerce is required to submit its Section 232 tariff investigation report by June 30, and a final decision is to be made based on that report.
As the June 30 timing approaches, the global market for metals tied to AI computing capacity is expected to see renewed volatility. Goldman Sachs and other international investment banks said that if the United States implements a new round of copper tariffs, U.S. buyers may begin large-scale stockpiling.
COMEX copper inventories in the United States have exceeded 650,000 metric tons, reaching a record high.
In international markets, supplies of smaller metals closely linked to the AI computing supply chain—including tungsten, tin, tantalum, and indium—are expected to remain tight, with supply constraints potentially worsening.

Micron Technology shares rose 18.4% to $1,236 after the company reported fiscal third-quarter revenue of $41.5 billion, up 346% year over year.
According to NS3.AI, the move lifted Micron's market value to $1.398 trillion, briefly putting it ahead of Meta Platforms.
Micron also disclosed $22 billion in upfront customer deposits linked to memory chip supply contracts.

Deutsche Bank analyst Michael Hsueh lowered the bank's Q3 gold price forecast by over 20% to $4,300 per ounce. According to NS3.AI, the bank also reduced its Q4 forecast by 17% to $4,800 per ounce.

Oracle shares fell 6.3% over the past 24 hours to $150.2 as profit-taking in AI infrastructure stocks combined with risk-off sentiment triggered by PCE inflation data. According to BlockBeats On-chain Detection, Hyperinsight monitoring showed the stock has retreated 40% from its early-month peak.
On Hyperliquid, total short notional exposure was about $2.2 million, roughly 2.11 times the long exposure of about $1.0 million. The average entry price for longs was around $172.68, while shorts averaged about $181.35, with the current price trading well below the average long cost basis.
The largest short position, linked to address 0x9df2, used 10x leverage with a notional size of about $770,000 and an average entry price of $224.92. The position showed an unrealized profit of about $380,000, representing a return of 330%.
Hyperinsight data also indicated the nearest long liquidation level was $146.17, about 3.2% below the current price, a gap of roughly $4.9.

At Meituan’s annual general meeting of shareholders, CEO Wang Xing said the company’s share price performance in recent years has been unsatisfactory and that he feels a heavy sense of responsibility, according to 36Kr. Wang said Meituan will focus on running the business well and called for more rational development across the industry.
Wang also said Meituan has some strong external investments that could generate good returns if they list, and the company may actively exit such investments when conditions are appropriate. CFO Chen Shaohui said Meituan’s current valuation is severely undervalued and that the company plans to conduct share buybacks.

Gold prices have been in a sustained correction since March, with the international gold price at one point falling below $4,000 per ounce, down more than 25% from an early-March high of $5,321 per ounce, according to a China International Capital Corp. (CICC) research note.
According to Jin10, CICC attributed the pullback mainly to two factors: rising oil prices and inflation concerns linked to the U.S.-Iran conflict, and a more hawkish interpretation of Fed Governor Kevin Warsh’s debut at the June FOMC meeting.
CICC said the market has worried that U.S. inflation remains resilient, reinforcing expectations of tighter monetary policy. It also said Warsh emphasized inflation discipline and that the dot plot raised inflation expectations. CICC added that, among 18 voting members, half supported at least one rate hike within the year.
CICC said the prevailing market narrative has been that the Federal Reserve’s policy focus is controlling inflation. It said futures markets have priced in one rate hike in 2026 and one in 2027, which it described as supporting the dollar and weighing on gold.
However, CICC argued these two drivers should not be extrapolated linearly. It said U.S. inflation may have already peaked and could enter a downward trend in the second half of the year. CICC also said Warsh’s debut did not necessarily mean the Fed has fully shifted toward tightening, and that current messaging may be intended to preserve room for a future return to easing.
CICC concluded that the current gold pullback does not signal the end of the bull market and said a turning point may not be far away. It said it remains optimistic on gold’s outlook and recommended maintaining positions and adding on dips.

T. Rowe Price is betting on a pullback in the yuan after its rally, saying the currency looks “expensive” versus a basket of currencies from China’s major trading partners, according to Bloomberg.

Citrini analyst Jukan said in a post on X that Lenovo has described rising memory prices as a “new normal,” adding that DRAM and NAND flash prices have entered a structural upcycle.
According to Odaily, Jukan said prices are unlikely to return to early 2025 levels even if major suppliers continue expanding production.
Jukan said higher costs are being passed through across the industry, and that various electronic devices, including PCs and smartphones, are expected to continue facing upward pricing pressure. He added that higher prices are expected to become a “new normal” after 2030.

BMI Commodity Research, a unit under Fitch, said it remains bullish on gold and kept its forecast for the average gold price in 2026 unchanged at $4,600 per ounce. According to Odaily, the institution also said it believes the U.S. Federal Reserve will not make any interest-rate moves this year.
BMI said that, as noted last week, the Fed’s hawkish tone has pushed up expectations for rate hikes, creating significant downside risk for gold. However, it added that if inflation pressures linked to Middle East conflict ease as expected following the recent U.S.-Iran agreement, the most likely outcome is that interest rates remain unchanged for an extended period.
BMI said short-term gold price movements may be driven by Fed policy signals, and that precious metals are vulnerable in the near term to repricing of market expectations and renewed U.S. dollar strength.

Bain Capital and LY Corp. are poised to make a binding bid for Kakaku.com Inc., challenging a tender offer from EQT AB that values the price-comparison site operator at around ¥595 billion ($3.7 billion), according to Bloomberg.

The Reserve Bank of India proposed draft rules to broaden participation in the country’s money market to include shadow lenders, companies and other financial institutions, according to Bloomberg.
The move is aimed at deepening funding markets and expanding access to short-term liquidity.

Micron Technology Inc.’s earnings arrived at a sensitive moment for the AI industry, with investors already questioning whether the spending boom is starting to falter, according to Bloomberg.
Shares of chipmakers and other technology companies had been hammered in recent days amid those concerns, and the report added to scrutiny over whether the sector can avoid the boom-and-bust cycles that have long characterized the industry.

U.S. net capital inflows reached a record $884 billion in the 12 months through April 2026, The Kobeissi Letter said in a post on X. According to Odaily, the measure reflects external funds entering U.S. financial markets through private investors and official institutions purchasing U.S. assets.
The Kobeissi Letter said net capital inflows have nearly tripled since early 2025. It added that the 2021 peak was about $400 billion, less than half the current level.
In April, private-sector purchases of U.S. stocks rose to $763 billion, a record high, the post said. Official institutions’ purchases increased to $121 billion and have more than doubled since the start of the year, it added.

Foreign central banks’ holdings of U.S. Treasuries totaled $5.66 billion in the week ended June 19, compared with a prior reading of -$2.12 billion.
According to Jin10, the data showed the latest weekly figure and the previous value.

Investors have increased bullish bets on the US dollar at a record pace, with speculative net long positions near $30 billion, the highest level since President Donald Trump’s second term began, according to 36Kr citing US Commodity Futures Trading Commission (CFTC) data. Net long positions rose by about $37 billion in the first half of 2026, marking the fastest first-half increase since the CFTC began tracking the data in 2012.
Neuberger portfolio manager Joseph Purtell said the dollar could strengthen in the near term as US real interest rates rise, and may break out of its trading range over the past six to nine months, while warning that longer-term structural issues such as US fiscal sustainability could weigh on the currency. Separately, Bank of America estimated $341 billion has flowed into US equities year to date, compared with $134 billion in the same period last year.

China, the world’s biggest crude oil importer, is set to take in even fewer barrels in June, extending a sharp slowdown in demand since the start of the Iran war, according to Bloomberg.

Shares of Denmark’s Demant A/S are headed for their best quarterly performance since 2000, helped by the rollout of a new hearing aid equipped with artificial intelligence, according to Bloomberg.

Renewed concerns over safe passage through the Strait of Hormuz followed an attack on a cargo ship, even as oil was on track for a weekly decline after transits through the waterway accelerated, according to Bloomberg.
Matt Stanley, market engagement head at Kpler, said the oil market is complacent about risks around Hormuz in comments to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa.

Technology stocks pulled global indexes lower at the end of a volatile week, as renewed selling in the world’s biggest memory chip makers weighed on sentiment, according to Bloomberg.
Oil prices retreated, while markets also digested signs that OpenAI’s public debut may be delayed, Bloomberg reported.

Aluminum headed for a fourth weekly decline, the longest losing streak since April 2025, as a renewed selloff in Asian tech stocks added to pressure from a stronger US dollar and returning Middle East supplies, according to Bloomberg.