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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.

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%.

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.

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.

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.

Prominent leverage trader James Wynn, known as the “Hyperliquid whale,” said Shiba Inu (SHIB) is “old, dead and boring,” calling it a developer cash grab tied to the ecosystem’s BONE token and predicting SHIB will not stage a real comeback. According to BeInCrypto, the comments came as large SHIB holders sent 1.04 trillion tokens to exchanges, about 6.5 times the prior day’s deposits, while SHIB fell more than 8% in 24 hours to $0.0000041. CryptoQuant data showed exchange reserves jumping to 80.5 trillion tokens in one session.

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).

Hong Kong’s government said total gold exports from Hong Kong to mainland China in May were 65.562 tons, compared with a previous figure of 99.327 tons.
According to Jin10, the statement was released by the Hong Kong Special Administrative Region government.

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.

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.

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.

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%.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Sunny Optical Technology (2382) proposed issuing RMB-denominated bonds, with net proceeds intended to refinance existing debt, according to Ming Pao.
The company said it will make a further announcement on the proposed bond issuance at an appropriate time.

Japan will keep fiscal sustainability in mind as it compiles budgets and makes investment decisions, Finance Minister Katayama said, according to Bloomberg.
The comments followed Prime Minister Sanae Takaichi’s unveiling of a $2.3 trillion long-term investment roadmap alongside sweeping budget reforms.

JPMorgan CEO Jamie Dimon plans to remain in the role for at least another three years and would become executive chairman when he steps down as CEO, according to Ming Pao, citing Reuters and people familiar with the matter.

U.S. stocks closed mixed on Thursday, with Apple shares falling more than 6%.
According to Jin10, the Dow Jones Industrial Average rose 0.14% in preliminary figures, while the S&P 500 edged slightly lower and the Nasdaq Composite fell 0.46%.
Micron Technology jumped 15.7%, and Qualcomm gained 3.7%. Microsoft fell more than 3%.
Apple declined 6.1%, with its market capitalization nearing a drop below $4 trillion.
The Nasdaq Golden Dragon China Index fell 2.7%. Alibaba dropped 4.7%.

Onsemi has agreed to buy Synaptics Inc. in an all-stock transaction valuing Synaptics at about $6.2 billion, according to Bloomberg.
Synaptics specializes in semiconductors for smart devices.

China’s central bank is expected to set the rate on its inaugural overnight reverse repo operation at 1.35%, slightly below the seven-day rate, according to Bloomberg.
The People’s Bank of China is set to debut the new tool on Monday, a Bloomberg survey showed.

Elroy Air Inc., a cargo drone startup, is in advanced talks to go public through a merger with a special purpose acquisition company in a deal that would value the combined firm at about $1 billion in enterprise value, according to Bloomberg.